April 26th, 2010

Ferrari 599 GTO, and $800,000 car launched in Beijing

In China, 20% of new Ferraris were bought by women. In the rest of the world women represent 5% of Ferrari buyers. So, in China women are buying Ferraris at four times the rate in the West.

Ferrari first started selling in China in 2004 selling 65 cars. Last year they sold 220 cars, 44 of which were sold to women. “We don’t see big possibilities (to increase sales) in Europe and we don’t see big possibilities in the US,” said Ferrari CEO, Amedeo Felisa. “But for sure we have not exploited the potential we have in Asia-Pacific as well as the Middle East and East Europe.”

Lest you think these Ferraris are being bought by men for their “ladies who lunch” Ferrari says their female buyers are doing well on their own economically. “If you look to the average age of customers who buy Ferrari’s in China it is 10 years less than in Europe. In China you have a lot of women running businesses and in a very, very tough way and they have the money and they can afford to buy a Ferrari.” Felisa says of his new female demographic. “It was a surprise for us because we were not expecting such a success on women but I think it is a condition of business here in China.”