Ferrari's clientele demographics are changing: More young enthusiasts enter the fold

Historically, Ferrari has been associated with money, exclusivity, and an older clientele. For many years, buying a Ferrari was a reward for financial success, with ownership being an achievement of long-established entrepreneurs and business moguls. However, an evolution is taking place quietly – Ferrari is appealing to the youth more and more.

Benedetto Vigna, CEO, Ferrari recently disclosed that 40 per cent of new Ferrari clients are younger than 40 years, a significant increase from 30 per cent in 2023. This change represents a turning point for the Italian brand, indicating that a new cohort of wealthy enthusiasts is keen to stake their claim on the Prancing Horse heritage.

Exclusivity still reigns supreme

Regardless of how many young buyers flooded the gates, Ferrari has not changed its strategy of gatekeeping. The company is very picky and tends to ignore first-time buyers and deal with repeat ones. In 2024, 81 per cent of the new Ferraris were for existing owners, almost half of whom had one or more already. While the age group may be widening, getting entry into the Ferrari circle is still not that easy.

Purosangue and the appeal of modern Ferraris

One reason Ferrari is attracting customers below the age of 40 is its new model line-up. Ferrari claims that its first four-door performance vehicle, the Purosangue, has received interest from clients who perhaps wouldn’t have expressed interest previously. The Purosangue, which was launched in September 2022, was Ferrari’s second best-selling model between January and August 2024, reflecting the versatility and practicality of buyers.

This transformation isn't merely about SUVs, however. New models such as the 12Cilindri and F80 are already causing a stir, but potential customers will need to hold out. Ferrari production slots are completely taken up through at least 2027, again further solidifying the mystique and desirability of the brand.

Ferrari believes it can keep its heritage intact for years to come, as it manages to capture younger buyers without losing its exclusivity. Ferrari wants the next generation of ultra-wealthy to still aspire to one of Maranello’s greats by adapting its product range without diluting its heritage.

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