Build story · Italy · 1947–2023
Ferrari: always one car less than demand
Enzo Ferrari's principle of delivering one car less than the market wants keeps Ferrari's volumes low, waiting lists long, and margins higher than almost any carmaker.
By Shivam Bhandari · Reviewed 31 October 2026 · How we write
by the numbers
- Founded
- 1947
- Cars delivered (2023)
- about 13,700
- Revenue (2023)
- about €6 billion
- Operating margin (2023)
- around 27%
What happened
Enzo Ferrari founded his car company in 1947 to fund his racing team. He is credited with the principle of always delivering one car less than the market demands, to protect exclusivity.
Ferrari deliberately limits production — about 13,700 cars in 2023 — while mass carmakers sell millions. Customers often wait months or years, and limited editions are offered first to loyal collectors. Racing success in Formula One feeds the brand, and licensing and merchandise extend it.
Ferrari was spun off from Fiat Chrysler and listed in 2015. In 2023 it earned revenue of about €6 billion with an operating margin around 27% — closer to a luxury goods company than a carmaker.
Timeline
- 1947
First Ferrari road car.
- 1969
Fiat acquires a stake.
- 2015
IPO and spin-off.
what made it work
- Deliberately constrained supply.
- Racing heritage feeds desirability.
- Priority access for loyal customers.
the lesson
Holding back supply in a luxury market protects price, prestige, and margins.
Apply it to your business
- 1Don't chase volume if exclusivity is your value.
- 2Use a heritage story to support pricing.
- 3Reward loyal customers with first access.
Laws at work in this story
Figures are rounded and drawn from public reports, company filings and widely cited coverage at the time. Check the company's latest filings before relying on any number.