Millennials and generation Z are already its main clients

Having a Ferrari waiting for you in the garage continues to be the desire of many young people, especially when money It is not a problem. The young people are revolutionizing the market of luxury cars, and Ferrari is the proof of this.

The legendary Italian brand is seeing how its clientele rejuvenates by leaps and bounds. The reason: the new generations are receiving the millionaire inheritances of their relatives.

The new profile of “Ferrarista”. As they point out from FortuneTraditionally Ferrari has been synonymous with older men, successful entrepreneurs and engine -love collectors with years of experience and a bulky wallet. But times are changing.

According to recent statements by Benedetto Vigna, executive director of Ferrari, collected By CNBC, millennials and generation Z already represent 40% of the new Ferrari buyers. A generational turnaround that has surprised its own and strangers, and that shows that the luxury industry is facing a generational relief. This means an increase in the percentage of customers with less than 40 years of Ferrari, which in 2023 was 30%.

Benedetto Vigna said that: “We are seeing a great interest on the part of younger customers,” and indicated that this demographic change is a global trend that is transforming the way in which luxury brands are related to their customers.

Having a Ferrari goes beyond having money. This change in the profile of the buyers of Ferrari cars is due to different factors that converge in time. On the one hand, the success of influencers and young celebrities that exhibit their luxury cars on social networks, and that the brand has taken care of nails and teeth for preserve your aura of exclusivity.

On the other hand, Ferrari has managed to adjust the policy of “scarcity marketing“That Enzo Ferrari established, who assured that” he would always deliver a car less than what the market demands, “which increases the desirability of his cars.

Vigna says that The waiting lists For one of his cars they are about two years old. In his interview, the Ferrari CEO said that a 37 -year -old told him that he was anxious to receive his first Ferrari before he turned 40. “Do not worry, you will get it when you are 39 years old,” Vigna explained to CNBC.

Faithfulness to Ferrari. As published Fortunemost of Ferrari’s client portfolio has been forged over decades, affecting the idea that It is not enough to have money To drive a Ferrari: you have to deserve of it. In 2024, Ferrari sold approximately 81% of their new cars to owners who already had a Ferrari and 48% of them to buyers who already had more than one Ferrari in their garage.

That reinforces the attachment of young people for a brand that does not make their customers easy access one of your cars. However, one of the great triumphs that the Maranello brand has recently achieved is that, when they get it, its clients can customize it to their liking in the Ferrari Atelierdivision that the brand has created to respond to the exclusive requests of its customers.

“The great wealth transfer.” But if there is a key factor that explains the rejuvenation of Ferrari’s clientele, it is the call “Great wealth transfer“. It is estimated that a good part of world wealth is currently In the hands of the Baby Boomers. Due to demographic aging, it is estimated that, until 2045, millennials and generation Z will be the beneficiaries of an estimated wealth transfer in about 84 billion (European billion) of dollars.

These first signs of generational change are already being seen, with data such as the one that revealed the list of 2024 Millionaires of Forbes, in which most of the new Millionaires under 30 years old They were for having received a millionaire heritage.

A generalized trend. Although those responsible for other luxury brands have not expressed themselves with the clarity with which the CEO of Ferrari has done, everything indicates that this is a trend that they are experiencing the set of luxury cars manufacturers.

According to statements From Stephan Winkelmann, world general director of Lamborghini to Drive: “There are more and more people, compared to a decade ago, which at an early age already have so much money that our type of cars can easily buy.”

Porsche, meanwhile, has managed to adapt to the new times adapting its public sales channels younger to stay as an attractive option for new millionaires.

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Image | Ferrari