In a world where bigger often means better, Ferrari is proving that exclusivity is the ultimate luxury. The legendary Italian automaker has just revealed its 2024 results, and they’re nothing short of spectacular—all while deliberately limiting how many cars they sell. The numbers tell an intriguing story. Ferrari’s revenue soared to $7.3 billion in 2024, up nearly 12% from the previous year. But here’s the kicker: Ferrari sold only 13,752 cars worldwide, an increase of less than 1%. In other words, Ferrari isn’t just selling cars; they’re selling dreams, and those dreams are becoming more valuable than ever.
Wall Street clearly agrees—Ferrari’s stock surged more than 7% after the announcement, reaching $459 per share and valuing the company at a stunning $82 billion. That’s more than some mass-market automakers that produce millions of vehicles annually. “Quality of revenues over volumes,” says Ferrari CEO Benedetto Vigna, explaining the company’s philosophy. This approach seems to be working magnificently—the company’s profit jumped by more than 21% to $1.67 billion in 2024.
What’s driving this success? It’s not mass production but rather the art of personalization. Each Ferrari is becoming more unique, with buyers willing to pay premium prices for bespoke features. The average Ferrari now costs significantly more than $500,000, but that hasn’t dampened enthusiasm among the world’s wealthy.
Ferrari’s success is reflected across all levels of the organization. The company’s 5,000 Italian employees received competitiveness bonuses of approximately $15,700 each for 2024, a substantial increase from $14,700 the previous year. This bonus program, tied to company performance and competitiveness goals, demonstrates Ferrari’s commitment to its workforce. The company also achieved two significant milestones in workplace equity: a global certification for equal pay between men and women and a special gender equality certification in Italy. This proves that traditional luxury can coexist with modern corporate values.
Looking ahead to 2025, Ferrari isn’t resting on its laurels. The company plans to launch six new models, including its first fully electric car—a significant step for a brand known for its roaring engines. The Italian manufacturer also recently altered its requirements for customers to get into the VIP list. Now, patrons of the brand will have to invest close to $40 million before they can get their hands on the most exclusive models, like the new Ferrari F80. This is expected to further boost the earnings. They’re targeting revenues of at least $7.7 billion, suggesting confidence in their ability to continue commanding premium prices.
Perhaps most notable is Ferrari’s performance in China, where many luxury brands have struggled recently. Despite a 22% drop in deliveries to the region, Ferrari’s overall financial performance remained stellar—a testament to the brand’s ability to transcend regular market dynamics.
The message is clear: In a world of mass production and instant gratification, Ferrari is betting that true luxury means getting less of something special, not more of something common. And judging by their latest results, that bet is paying off handsomely.