Ferrari Mulls Boosting Annual Production Beyond 9,000 Cars

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Ferrari F12 Berlinetta

Ferrari F12 Berlinetta

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Since it was floated on the New York Stock Exchange last October, Ferrari [NYSE:RACE] has seen its share price fall from an opening price of $52 to just $42.67 at the previous close. With the euphoria of having the chance to own a piece of Ferrari now over and investors seeking returns, perhaps the share price is starting to reflect the fact that the company’s growth opportunities are limited to ramping up production and licensing its brand to more products and theme parks.

And perhaps that’s why Ferrari chairman Sergio Marchionne this week told Bloomberg that the company is considering increasing annual production beyond a current target of 9,000 cars by 2019, mentioned last year in a filing made by Ferrari with the U.S. Securities and Exchange Commission. Until recently, the company was limiting production to around 7,000 cars annually to maintain exclusivity.

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“We need to get there and try to determine whether the market can handle more than 9,000,” Marchionne said. “The founder of Ferrari in 1947 had a clear view that we produce one car less than the market demands, so, as long as we pay attention on that rule, we’ll be fine.”

Before you start fretting about seeing a red car on every corner, note that Ferrari is likely to continue to limit sales in established markets. The company has previously stated that it sees the number of high net worth individuals growing the most in emerging markets so much of the new production will likely be earmarked for those markets.

And the good news for performance fans is that we’ll like see more, higher-volume models. There’s already talk of a V-6-powered Ferrari arriving in 2019.


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