In the business of manufacturing automobiles, there’s no one even close to Ferrari when it comes to brand recognition and brand equity. The popularity of the Italian marque goes much beyond its rare, high-end performance cars, and this had been the case for many, many decades. However, a recent study has revealed that the world’s most famous automobile brand is quickly losing its popularity. A UK-based price comparison website conducted the study that used Google Trends data as a metric to see the changes in popularity of car brands across the globe over the last 10 years. The website compared the Google search data from 2010 with that extracted from 2020. The results were shocking!
The five global automobile brands that witnessed a drastic drop in Google search popularity, according to the study, are Fiat, Citroen, Vauxhall, Mitsubishi, and Ferrari. The study shows Ferrari suffered a 35.3 percent drop in Google search globally in the last decade. What makes it even more surprising is that Ferrari has constantly posted stellar growth numbers over the last few years. Not only did Ferrari sell more cars than ever but also attained the highest profit margins in the industry. In 2019, Ferrari made a staggering average profit of $95,000 on each car it sold. So, what could be the reason behind the drop in interest in Google searches? There could be many possible explanations for it. The lack of an SUV in the current line-up could be one of the reasons, or the dismal performance of Ferrari’s F1 team might be the one to be blamed. Or is it simply an indication that the world is now more interested in electric cars and people are searching more on Teslas than Ferraris. What do you think?