Ferrari S.p.A. is reducing sales to less than 7,000 vehicles, in an attempt to increase revenue by boosting the exclusivity of the brand. Ferrari S.p.A. delivered 7,318 cars in total in 2012.
"When you buy a Ferrari you buy a dream, and customers must be reassured that we will preserve that dream," Ferrari boss Luca di Montezemolo said. "We will slow down our manufacturing pace accordingly. Our growth in recent years has been driven by emerging markets. Our goal now is to aim for exclusivity. We will manufacture less, preserve the flow of cars to the market and protect secondhand markets."
Expanding into other segments such as four doors, small cars and SUVs is also ruled out.
"I tell such customers to look to Maserati," Montezemolo said. "We will not deviate from our core products."
Montezemolo also indicated that he wants to balance sales between Europe, the U.S., Asia and the Middle East on a more equal level. Currently over half of Ferrari's sales are in the Middle East and Europe.
Also according to Montezemolo, the decision for increased exclusivity was not made in response to the world financial crisis. This seems to be a legitimate point, given Ferrari's strong numbers in the first quarter of 2013. Montezemolo has been chairman of Ferrari S.p.A. since November 1991.
In order to further boost profits, Ferrari plans to add more personalization as well as bespoke programs, which according to Ferrari will be "the ultimate in exclusivity."
Ferrari made a previous statement about cutting sales in 2003.
