Ferrari is no longer a 'midlife crisis' purchase
Many customers are now under the age of 40.
Transcript:
Kelsey Barberio: If you thought Ferrari’s were reserved for a mid-life crisis or a retirement splurge — you’d be very wrong. Speaking with CNBC, Ferrari CEO Benedetto Vigna said 40 percent of new buyers are under the age of 40.
That number has risen by 10 percent in just the last 18 months. But it stands out even more when three-quarters of all Ferarri’s are sold to existing customers. Ferarri, which prides itself in the exclusivity of its vehicles, has a more than two-year wait time for a new car.
And Ferrari may see the number of younger customers tick up even more in what has become a carbon-conscious world. The Italian carmaker plans to unveil an all-electric vehicle starting in October. The EV will be one of six new models Ferrari comes out with in 2025.
At its most recent Capital Markets Day, the company said it is committed to making three types of vehicles: a traditional combustion, a hybrid, and the new all-electric Ferrari.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Kelsey Barberio with TheStreet.
