As the high performance manufacturer works to attract wealthy buyers beyond supercar drivers, more hybrid vehicles will be soon added to the roster and will follow the 1 million-euro ($1.34 million) LaFerrari.
“I don’t believe in the electric cars, but I strongly believe in hybrids,” Chairman Luca Cordero di Montezemolo said in an interview.
The LaFerrari, unveiled in March at the Geneva Motor Show is of Montezemolo’s strategy of boosting Ferrari’s profitability with high-end, customized versions of its vehicles while restricting their availability to enhance the brand’s reputation for exclusivity. The brand is also keen on expanding sales beyond vehicles, such as licensing merchandise with its prancing-horse logo.
“I want to have different Ferraris for different Ferraristi,” Montezemolo, 65, said. “We have a lot of parallel activities that can increase revenues without being obliged to produce more cars.”
Montezemolo, who has been chairman since 1991, has transformed Ferrari into a cash machine, accounting for about 10% of Fiat’s 2012 operating earnings and all the while keept the brand as the most profitable division at Turin, Italy-based Fiat SpA.