Ferrari 599 GTO
Women in China buy four times as many Ferraris as women in North America, thanks in part to newfound prosperity and a glut of female entrepreneurship.
Of the 220 Ferrari cars sold last year in China, 44 were bought by women. That is four times greater than their Western counterparts. This represents 20% of the total sales, as compared to 5% elsewhere. In an interview with GoAuto, Ferrari CEO Amedeo Felisa stressed the importance of the Asia-Pacific market. “We don’t see big possibilities (to increase sales) in Europe and we don’t see big possibilities in the U.S.,” he said “But for sure we have not exploited the potential we have in Asia-Pacific as well as the Middle East and East Europe.” Felisa pointed out that the customers who buy Ferraris in China are 10 years younger on average than European customers.
He thinks that it’s because many women in China are running businesses and they can certainly afford this type of car. Felisa added that it still came as a surprise for them since they didn’t think that the car would appeal that much to women.
He also believes that it could be a reflection of the business condition in China. Because of the emerging sales in China, Ferrari was shielded from the economic difficulties in the North American and European markets that were actually dropping even before the global crisis.
Felisa also stressed that Ferrari would adapt their production to meet the needs of the Chinese market, but it would not oversupply the market with cars. Ferrari spokesman Antonio Ghini once said that “…we will produce one less car than the market demands”, and this maxim has unquestionably helped Ferrari maintain its mystique and cachet among the uber-wealthy of the world.
Ferrari sought to honor the Chinese market by deciding to launch the 599 GTO at the Beijing Motor Show. Last year, Ferrari was the only sports car maker to continue to grow in the Asia-Pacific. About 500 cars were sold last year in the Asia-Pacific. The biggest market was China, including Taiwan and Hong Kong. Over 220 cars were sold via 10 China dealerships, 150 units sold in Hong Kong and 50 cars in Taiwan.
What do you think about the Chinese market for Ferrari?
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Source: 4wheelsnews.com and autoguide.com
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