Female and young buyers change Ferrari demographic

FERRARI Australasia says it will continue to focus on bringing new customers to the brand while also increasing the percentage of female and young owners, which is already among the highest in the world.

Speaking to GoAuto last week at the launch of the Ferrari Tributo category in the upcoming Targa Florio Australia Tribute motorsport event in Melbourne, Ferrari Australasia chief executive officer Herbert Appleroth was upbeat after about 53 per cent of all Ferrari customers last year were new.

“We pride ourselves on the percentage of new people that come to the family,” he said. “That’s our first (demographic) focus.

“The demographic of Ferrari is very interesting, in that it’s not in the postcodes you’d think it is.

“Our typical demographic is those that are a plumber who now has 50 vans and has been working for 25 years to build up his business. It’s an electrician, it’s a builder who is now a developer, it’s a skilled trade, it’s an accountant who now has a franchisee system.”

However, female buyers continue to be elusive for the brand, but Mr Appleroth revealed that plans are in place to improve their small representation among owners, who are overwhelmingly male.

“We’ve done some initiatives this year to try and increase the number of women that drive our cars,” he said. “It’s been a typically very male skew.

“Now with our GT range and our sportscar range, they’re cars that can be driven every day. They’re comfortable, they’re practical. Successful people should be driving them, whether they’re male or female.

“I’m happy to say that we’ve got the highest percentage of female ownership in the Ferrari world in Australia – about nine per cent – (but) it’s not enough.

“We launched the program Ferrari Driven Women, which is aimed at getting women not just behind the wheel of a Ferrari but behind the wheel of a Ferrari where it should be: at a racetrack. That’s gaining huge momentum.”

Ferrari’s first SUV will likely increase the brand’s appeal to female buyers when it eventually hits showrooms, with UK automotive publication Auto Express reporting it could launch by the end of next year, but Mr Appleroth declined to comment on the model and its timing.

Since factory-backed Ferrari Australasia took over local distribution from European Automotive Importers in 2013, the average age of a Ferrari owner has dropped from 52 to 48, a development that sits well with Mr Appleroth.

“We’ve worked very hard (since 2013),” he said. “(Upon the takeover), the key focus was to bring new people into the family and younger people.

“We engage a lot of social media and engage in all sorts of different media, which are younger targets.

“I think the wealth base has certainly shifted in Australia to younger (people). So, we’re engaging younger entrepreneurs, whether from the tech industry, in medical science, in dentistry, in plastic surgery … it’s a younger audience.

“What you’re seeing is indicative of our owner base. Apart from China, we have one of the youngest ownership bases in the Ferrari world.”

As such, Mr Appleroth sees no bounds for Ferrari ownership, which continues to be overrepresented by older males.

“It’s a brand that needs to appeal to everyone,” he said. “It’s a true sign of success. Rather than just showing off, it’s actually about rewarding yourself.

“We’re after anyone to come to the Ferrari family, no matter age, creed or background.”