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According to a media report, Ferrari will double its production to two shifts a day from 2018. The company is expected to achieve its sales target of 9,000 cars in 2018 - one year before the actual plan of 2019.

Media sources have indicated that Ferrari could increase its car production by over 7% from the current 8,400 to 9,000 in the next year. Currently, the company has a self-imposed limit of 10,000 units that helps them to operate under less-strict fuel-economy rules. However, the Italian company expects to breach this with their SUV launch in the future. Today, Ferrari cars have a waiting period of more than 12 months across the models.

Demand for the supercars has increased due to the increase in numbers of high net worth individuals. The number of millionaires has grown by 36% to a total of 13.6 million over the period of 2006-2016. Further, the total numbers of billionaires grew by 45% in the same period.

Ferrari separated from Fiat back in 2016 and has since been following a plan by CEO Sergio Marchionne to boost revenues of the Italian supercar maker, while limiting the sales of the cars costing upwards of US$ 200,000. The plans include a launch of a new Ferrari SUV and other limited-edition models like FXX K Evo and improved profits of over 2 billion Euros by 2022. Fillings however, reveal that the profits before interest, taxes, depreciation and amortization will total about 1 billion Euros this year which is 2 years ahead of schedule.



Source - Bloomberg

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