Ferrari is an exclusive brand. We all know that. But exactly how many cars are being produced per year? and why the scarcity?
How Many Ferraris Are Built Yearly?
Ferrari produces around 9,000 cars per year. They produce more cars per year and during the decade from 1987-1997, they only produced around 1,500 cars in total.
Let’s dig deeper into the numbers and the logic behind this.
Let’s start with the cold facts. Here are some numbers that we will dig deeper into inside the article.
|Ferrari F50||1995 – 1997||349|
|Ferrari F40||1987 – 1992||1311|
|Ferrari 488||2015 – 2019||9000|
|Ferrari 458||2009 -2015||15000|
Over 50 million cars are produced annually. Ferrari manufactures only 8000 of those. That’s a mere 0.016 percent of the total number.
Ferrari produced 8014 supercars in 2016 and it was announced that the manufacturer will increase the annual production to 9000 (and eventually 10 000!) in years to come.
Why does Ferrari limit the number of cars they make?
In 2013, Ferrari decided that making too many cars was not in the company’s best interests. The limit was designed to protect the brand and the exclusivity of Ferrari.
According to the former chairman, Luca di Cordero Montezemolo, the company would risk injecting too many cars into the market. Current chairman, Sergio Marchionne, plans to ramp up production to eventually produce 10,000 Ferraris a year.
This is still only a fraction of the total market.
It’s all about exclusivity.
Ferrari has managed to create an elite club of clients by restricting the production on its cars. They’ve managed to manufacture not only a powerful supercar but the idea that the people who own these machines have made it in life.
The restriction is not only about sales – by limiting production and making the process to own one quite lengthy, the company is protecting the brand of Ferrari.
Anyone can potentially come into a large sum of money and purchase a fancy car – but it’s not just anyone who can own a Ferrari.
How do you buy a Ferrari that’s sold out?
For many people one of the first items to tick off the “If I Win The Lottery” checklist, would be the purchase of an outrageously pricey supercar.
It’s much easier said than done, though.
Ferrari, the maker of arguably the most famous sports car in the world, is big on exclusivity.
If it’s a sold-out model you’re after, bear in mind that you could end up paying double (sometimes even triple) the original price.
Models that have been sold out by the manufacturer are difficult to come by. After all, most enthusiasts who purchase one of these supercars are not going to give them up in a hurry. But if you’re lucky enough to find one of these elusive models, it will most likely be at an auction.
Sold out Ferraris are like the proverbial hen’s teeth – finding one could make you a collector’s best friend.
The cars usually sit in an air-conditioned garage until the highest bidder comes along. Vintage Ferraris often break price records at these auctions.
Why (and how) do Ferraris become collector’s items?
Collector’s items are described as objects that are rare, beautiful or items with a special interest. Ferrari manages to tick off all of those boxes for its fans. Did we mention that Ferrari has mastered the art of exclusivity?
Ferrari enthusiasts around the world will pay top dollar to get their hands on vintage and rare models. While the actual supercars are only available to a select few, merchandise is hot property and many collectors splash out on models, memorabilia, and race car parts.
Even better if it’s been touched or worn by Michael Schumacher.
Do you have to be approved to buy a Ferrari?
‘Approved’ is the understatement of the year. It takes a lot more than just a burgeoning wallet to own a new Ferrari.
Here are a few of the conditions that have to be met before you are allowed to drive off the forecourt as the proud owner of a new Ferrari:
- History of Ownership
Ferrari will often demand to see this before allowing customers to buy a new one. If you’ve never owned a Ferrari before, you’ve got a really slim chance of being approved. Almost all first-time buyers will need to provide proof that they’ve owned second-hand models first.
If you’re under the age of 40, most Ferrari dealers won’t take you very seriously.
- It’s Who You Know
You’ll need to have an established relationship with a Ferrari dealer as an absolute minimum requirement.
For limited-edition models Ferrari generally chooses its customers. These select few will get calls in advance asking them if they want in on the latest limited edition. No chance of being approved for one of these if you’re a regular Joe.
The conditions for buying a used model are not as strict, but again, it’s not as easy as walking into the dealership and handing over the cash. Ferrari has some pretty strict rules for the elite few who own their machines.
Would-be customers have to adhere to certain conditions before they are allowed to own the prancing horse. Just ask David Lee.
The multi-millionaire watch and jewelry entrepreneur was keen on buying the LaFerrari Aperta in 2017. The price tag was $2.2 million, and only 200 would be built. Lee already owned a garage full of Ferraris, had a solid relationship with his local Ferrari dealer and is clearly over the age required.
But Ferrari turned him down.
According to some sources, Lee’s constant social media grandstanding and look-at-me lifestyle embarrass the company. His Instagram page is filled with photos of his supercars parked in places that are very un-Ferrariish, often posing with people he meets along his way.
The supercar giant is not very impressed with this, and have refused to sell him another car.
There are many checkboxes to tick before Ferrari will even look at you, and even then you’ll need to jump through quite a few hoops to seal the deal.
How many Ferraris are there in the world?
At the end of 2018, the total Ferraris built and sold is 208,931. Whether all of these cars are still around today is a mystery. Although it’s highly doubtful that anyone would purposefully destroy a Ferrari, accidents do happen.
And with the speeds that a Ferrari can reach, there are no doubt many owners who have seen their beloved supercars taken to early graves.
As recently as November 2018, a 488 Spider was written off in South Africa. The driver lost control due to high speed, and luckily escaped scratch-free.
The same could not be said for his car though.
How long does it take to build a Ferrari?
The cars are certainly not mass-produced.
From beginning to end it takes roughly three weeks to build a Ferrari.
This might seem to be a bit excessive when compared to a typical Toyota or Ford model, with cars coming off the assembly line every few minutes.
But in the grand scheme of things, if I were to pay over $2 million dollars for a car, I’d want to make double sure that every inch of it was being inspected and polished before driving it out of the dealership.
Knowing that such care and commitment has been taken in the manufacture of a single Ferrari is all part of the exclusiveness.
Ever since Enzo Ferrari began building his cars, the company has cultivated a reputation for dedication to craftsmanship. This dedication can be seen from the moment the first parts are placed on the factory floor.
With hand-stitched upholstery and components that are put together by hand, there is certainly no rush to get the cars on to the showroom floor. Which brings us to our next question.
Is there a waiting list to buy Ferraris?
The short answer – yes.
It all depends on which model you’re after, though. The longest waiting list is for a one-off model. If your dream is to personalize your own supercar, you’re likely going to have to wait around five years for it to be delivered. Ferrari owners who opt to buy a one-off edition are able to work with the designer in the process of building the car, so while it’s a really long wait, if you’re a collector or a Ferrari enthusiast it’s well worth it.
If it’s one of the manufacturer’s run-of-the-mill editions you’re after, there is still quite a waiting period. This is due to the limited production and overwhelming demand for the vehicles.
It’s not uncommon for buyers to wait up to two years for their new car to arrive.
All good things come to those who wait, and for lovers of the prancing horse, the wait is well worth it.