Ferrari’s CEO says a third of its customers are under 40 years old

Benedetto Vigna, CEO of Ferrari, said something a lot of people might find surprising.

According to Vigna, nearly a third of all Ferrari customers are now under the age of 40.

This contradicts the impression – which at this point is a misconception – that Ferraris are usually driven by older customers.

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Vigna also said that there’s an average three-year waiting list if you want to buy a Ferrari from the company.

Of course, if you want to buy a Ferrari and the money is there, you’ll always be able to do that, but if you want to buy one directly from the manufacturer and if you want something new and specifically made for you, you’ll have a wait on your hands.

There have even been reports in the past that some people have been banned from buying Ferrari vehicles.

There are some bizarre reasons behind this, and it has reportedly happened to a lot of celebrities.

The potential reason why Ferrari owners are now under 40 years of age

In the past, making money was often the result of a lifelong career.

There have always been exceptions, celebrities and athletes for example, but that was usually the case.

Things are a bit different these days.

There are a lot more billionaires, and a lot more millionaires, today than there were just 20 years ago.

In recent years, a lot of people made a fortune with tech ideas.

And, more recently, a significant number of Ferrari customers, or customers of any other equivalent brand for that matter, come from crypto.

In fact, starting from late 2023, Ferrari has also begun accepting crypto as a form of payment in the US.

In both cases, these customers tend to be very young, because said fortunes are accrued very quickly.

Ferraris are Veblen goods

Nobody needs a supercar, and manufacturers themselves often say this part out loud.

A supercar is a nice thing to have, but it’s also a Veblen good, a luxury object that becomes more desirable as its price increases.

In other words, sometimes rich people buy things just because they can.

Lamborghini, arguably Ferrari’s greatest rival, has said time and again that a growing number of customers come from crypto.

This is also because, for whatever reason, one of the most popular crypto slogans is a reference to Lamborghini.

‘Wen Lambo?’, the slogan recites.

And yes, for whatever reason the slogan is often spelled wrong, without the ‘h’ in ‘when’.

But crypto jargon aside, if this is true for Lambo, then it is also true for Ferrari.