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Business Philosophy6 May 2024
The World of Luxury: Creating and Selling Desirability
Dive into the enchanting world of high-end allure, where the art of exclusivity shapes desire, turning luxury into an emblem of unique prestige.
Ferrari (RACE) investor relations material
Ferrari CMD 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.CMD 2025 summary9 Oct, 2025
Strategic vision and business model
Pursues growth through a unique blend of racing, sports cars, and lifestyle, focusing on inclusivity, exclusivity, and client experience to reach a wider audience and strengthen the client community.
Maintains scarcity and exclusivity as central tenets, with a strategy of more models at lower volumes and 100% unique client cars through personalization.
Agility, consistency, and innovation are emphasized, with open collaboration and continuous investment in people and infrastructure.
Diversifies revenue streams by growing lifestyle and racing activities alongside core sports car sales, aiming for a ~5% annual growth rate to 2030.
Expands product range with 14 launches from 2023 to 2025 and targets an average of 4 new launches per year between 2026 and 2030.
Product and technology roadmap
By 2030, the model lineup will be ~40% internal combustion, ~40% hybrid, and ~20% electric, reflecting a technology-neutral approach.
Launch of Ferrari Elettrica, a fully electric sports car, with in-house developed key components and advanced driving dynamics, debuting in late 2026.
Product strategy shifts to horizontal diversification: more models, each with limited volume, and continuous investment in ICE, hybrid, and electric technologies.
Emphasis on technology transfer from racing to road cars, with innovations in powertrain, aerodynamics, and human interface.
Open innovation strategy, doubling university projects and increasing patent filings fivefold from 2021 to 2024.
Commercial and client strategy
Active client base grew to ~90,000, up 20% since 2022, with over 32,000 new-to-brand clients and 45% new collectors.
Personalization remains a key differentiator, with 19% of car and spare parts revenue projected from personalizations by 2030.
New Tailor Made centers planned in Los Angeles and Tokyo by 2027 to enhance client experience and accessibility.
Lifestyle business elevated, focusing on personal luxury goods, collectibles, and experiences, with a tiered approach to inclusivity and exclusivity.
Lifestyle strategy includes new flagship stores in London and New York, and expanded direct-to-consumer events.
Why the shift to absolute Scope 3 target?
What is the rationale for the
7B shareholder return?
How is exclusivity maintained with more models?
What drove the 2030 EV mix target reduction?
Detail the rationale for 2030's "at least" targets.
How does manufacturing agility support scarcity?
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Next Ferrari earnings date
Q3 20254 Nov, 2025
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Frequently asked questions
The exclusive car manufacturor
The car manufacturing business is usually not very attractive from an investor standpoint because of the high capital intensity and the low-profit margins. Still, Ferrari’s strong brand has helped the company defy financial gravity for decades.
The Ferrari Owners Club
One of the most interesting parts of Ferrari’s business model is its exclusive Owners Club, which is very hard to join, and whose primary goal is to uphold a feeling of scarcity and keep the core customer group loyal.
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