Ferrari ramps up production, expects 9,000 sales in 2018by Justin King
The company is riding a wave of strong demand for ultra-exclusive cars, despite its reluctance to hurry an SUV onto the market.
Ferrari is reportedly adding a second production shift as strong demand continues to grow.
The company's IPO filings disclosed a growth target of 9,000 cars annually by 2019. Sources now tell Bloomberg the Prancing Horse marque expects to hit the goal a year early, requiring an increase in factory output.
Enzo Ferrari built the company around a focus on exclusivity, arguing that production volume should be one less car than the market demands. CEO Sergio Marchionne believes the company can significantly increase output from current levels, however, without scaring off wealthy buyers.
The Italian performance brand has experienced unexpectedly strong profits and demand in an SUV-dominated market. It will eventually add a high-riding model to achieve an even bigger jump in annual sales.
Marchionne is expected to announce an updated mid-term strategy sometime early next year.