Ferrari fast-tracks sales growth

In an industry that covets increased sales volume Ferrari is a manufacturer that would prefer that it never satiates its buyers' thirst for instant gratification.

Despite this, Ferrari has increased its sales volume by 83 per cent in the first six months of this year.

Speaking to motoring.com.au at the 488 GTB's Australian debut, Ferrari Australasia boss Herbert Appleroth said that a shift in global demand had allowed the company's local arm to increase its allocation.

"We don't want to flood the market; it has to be a responsible number of cars we bring in because resale value is core, but at this stage here's been no change with volume globally but luckily we've been able to get some more cars for Australia."

Ferrari sales are up 83 per cent to the end of June, going from 52 cars sold in the first half of last year to 95 cars this year.

Appleroth said "Normally we only do 110 [annually]. And that's before one of these cars [the 488 GTB] hits the road."

When asked if the economic slow-down in Europe was key to this increase in availability, Appleroth agreed, adding: "Clearly there's also a great deal of confidence in the [Australian] market place: the timing is right. There's been a period of abstinence with a lot of our clients, that maybe it wasn't the right time to be buying a new Ferrari, but I think that now with property prices going so well, equity, the unemployment rate is stable, obviously now is the right time and they're treating themselves. We are seeing people who we haven't seen for 10 years, and now they're putting their money down on a 488".

The brand has also seen more new buyers from other brands than ever before, and Appleroth said they were stepping out of some cars that he'd not expected.

"For the California T, we're seeing a lot of people coming across from the traditional GT market so you're talking cars like Bentley and Mercedes-Benz CL-Class. Surprisingly, with 458 and with 488, we're seeing people come from Porsche and AMG, so not even true competitors, but people stepping up."

"What's been fantastic, particularly with California T is, that we've been able to speak to people who've we've never spoken to. So 70 per cent of the orders we've taken on California T are new to Ferrari."

Ferrari is unique in its offering of a seven-year free servicing programme for new cars, and Appleroth said this was a key element to bringing in new buyers to the Ferrari fold.

"That give enormous confidence to our clients, that there is not going to be this additional cost that they may be scared of.

"I suppose that's one of the reasons why we're getting so many people from other brands, the new-to-Ferrari people, because we've taken that element of risk out of the market."

Despite Ferrari enjoying a steep sales rise, the brand's exclusivity has maintained a strong demand for not only new models — the new 488 GTB has a two-year waiting list — but also used cars.

"We've actually seen sales of pre-owned Ferraris double in two years. And accordingly, re-sale value of five current-range models increased last year.

"Having the exclusivity of the new cars, less freely available, pushes people to purchase pre-owned cars, values go up. What happens, the gap between buying your new Ferrari and trading in your old Ferrari becomes less. And that's what a responsible luxury brand should do."