Ferrari CEO says 40% of new customers are under 40

The average age of a Ferrari customer is heading lower, according to its CEO.

In an interview with CNBC published on March 16, Ferrari CEO Benedetto Vigna said 40% of new customers to the brand are below the age of 40.

That compares to just 18 months ago, when he said that figure stood at 30%.

It’s an impressive result for a brand whose current most affordable model starts at just over $230,000 and, according to Vigna, sells around three-quarters of its production to existing customers.

Ferrari has traditionally limited production of its vehicles to retain exclusivity, but to meet rising demand, it has slowly been increasing volumes. Last year, it delivered 13,752 vehicles, which was 0.7% higher than the previous year and a new record for the brand. Nevertheless, the wait time for delivery is still more than two years.

The demographics of Ferrari’s clientele could change again soon with the launch of the brand’s first electric vehicle. Camouflaged prototypes for the model, which will be a sleek SUV, have already been spotted, and the debut is scheduled for Oct. 9. Deliveries will start in 2026. According to Vigna, some prospective buyers for the EV have indicated that they are only interested in EVs and don’t want to purchase any of Ferrari’s gas cars, suggesting the EV will further the trend of bringing new customers to the brand.

Eventually, due to emissions regulations, almost every Ferrari is likely to be either a hybrid or an EV. The automaker in January said it currently anticipates that hybrids and EVs will make up 80% of deliveries by 2030, with the remainder being gas cars. Looking further ahead, Vigna last year suggested that synthetic fuel may be an option for keeping gas engines alive in a world of zero emissions.