2018 will see Ferrari double it’s assembly shifts to two a day as it aims to meet the demand for it’s Supercars, with the Italian carmaker on target to meet it’s projection of 9000 vehicles annually, a year earlier than scheduled.
The increase is part of CEO Sergio Marchionne’s plan to boost profit by expanding Ferrari’s line-up while maintaining the exclusivity of its models. Marchionne, 65, will present the carmaker’s latest mid-term strategy early next year, his final one at the helm of the Italian iconic brand.
The plan will include Ferrari’s first-ever sport utility vehicle as it targets annual sales exceeding a self-imposed 10,000-car limit that until now has enabled it to operate under less-stringent fuel-economy rules, people familiar with the matter said in August. Goals include doubling operating profit to about 2 billion euros by 2022, they said.
Ferrari planned to reach full-year sales of 9,000 cars in 2019, however sales growth is being driven as the population of wealthy individuals surges. The number of millionaires worldwide surged 36 percent to 13.6 million people in the 10 years through 2016 and may rise another 37 percent in the following decade.
Ferrariproduction could increase about 7 percent to 9,000 cars in 2018 from about 8,400 this year, the carmaker’s output tends to track its deliveries, as Ferrari has a waiting list of more than 12 months for most of its models. To preserve its exclusivity, Ferrari should always sell one car less than the market demand, Marchionne has said, citing the carmaker’s founder Enzo Ferrari.