China Overtakes Germany as Ferrari’s Second Largest Market
Ferrari’s sales in China, Hong Kong and Taiwan surged 116 percent in the first half of 2011, pushing the region ahead of Germany and just behind the US.
Ferrari’s rapid sales growth in China has propelled the country into the manufacturer’s second largest global market, overtaking Germany, according to figures for the first half of 2011. The Italian marque delivered 378 cars to the Chinese mainland, Hong Kong and Taiwan in the first six months of the year, a 116 percent increase on the same period in 2010. This put China just behind the United States, which accounted for 939 Ferrari sales in the same period.
Asia played a central role in Ferrari’s global expansion during this period. The company’s overall worldwide sales rose nearly 12 percent to 3,577 units between January and June 2011, with revenue up almost 20 percent to $1.5 billion. Ferrari’s chairman, Luca di Montezemolo, attributed the global gains to the company’s push into new markets and the introduction of new models.
The surge in Chinese demand was supported by Ferrari’s increased marketing presence. Edwin Fenech, president and CEO of Ferrari China at the time, said the company planned to attend 25 motor shows in China during 2011, more than double the previous year’s figure. Fenech also expressed confidence that Ferrari’s sales would remain strong despite slower economic growth and new car restrictions in Beijing.
China’s place in Ferrari’s global sales
Ferrari’s growth in China was not limited to 2011. By 2018, the company’s sales in China, Hong Kong and Taiwan had grown by 12.6 percent over the previous year, outpacing its growth in the Americas. Globally, Ferrari sold 9,251 cars in 2018, up 10.2 percent from 2017, with the V12-powered 812 Superfast and LaFerrari Aperta among the strongest performers. The V8 models, including the Portofino and 488 Pista, also saw double-digit growth in the region.
China’s rise as a core market for Ferrari reflected broader shifts in the global luxury car sector. The company’s strategy included adapting to local tastes and expanding its dealer network, while also managing regulatory challenges in major cities such as Beijing and Shanghai. Despite these hurdles, Ferrari’s sales momentum in China has remained a key driver of its global performance through the last decade.
Comparison with other regions
In 2008, Ferrari delivered 1,089 cars across the Asia-Pacific region, including 212 units in China. By the first half of 2011, that figure for China, Hong Kong and Taiwan alone had reached 378 units, showing the scale of growth. For context, North America accounted for 1,700 Ferrari sales in 2008, or 26 percent of the global total at the time. Germany, long Ferrari’s second largest market, was overtaken by China in 2011 as Chinese demand accelerated.
| Year | China, HK, Taiwan | Asia-Pacific | North America | Global Total |
|---|---|---|---|---|
| 2008 | 212 | 1,089 | 1,700 | 6,587 |
| H1 2011 | 378 | N/A | 939 (US only) | 3,577 |
| 2018 | N/A | N/A | N/A | 9,251 |
