40% of our new clients are aged 40 and below – Ferrari CEO

Many people dream of owning a Ferrari (myself included) but not everyone has the financial means to turn their dreams into reality.

“Those who are able to splurge millions of ringgit on the supercar from Maranello are typically in their mid-life because, unless they come from a wealthy family, accumulating six figures in their bank account can take ages.

Nevertheless, recently, Ferrari has become increasingly popular among younger buyers.

Speaking to CNBC, Ferrari chief executive officer Benedetto Vigna revealed that 40% of the brand’s new buyers are under the age of 40.

The figure mentioned by Vigna represents a significant increase of 10% compared to 18 months ago.

“I’m not sure about other brands, but for us, it is an achievement thanks to our team,” he added.

The figure can be considered surprising, given that Ferrari is a brand that puts exclusivity before everything else.

Last year, Fortune reported that 81% of new Ferraris were sold to existing customers, with 48% of those already owning more than one Ferrari.

For this writer, however, this is not particularly surprising, as we can see that an increasing number of young people are becoming wealthy by jumping on the cryptocurrency and content creation bandwagons.

Then there are also the young professional athletes and celebrities who enjoy collecting luxury cars like Ferraris.