Ferrari Can't Keep Up With Demand For Purosangue's V12

Sep. 14, 2022 7:46 AM ET by Sebastian Cenizo Luxury / 14 Comments

Order books may soon be closed for the first-ever Ferrari Utility Vehicle.

Yesterday, Ferrari finally revealed the Purosangue, its first production four-door four-seater ever. Electrically operated doors (the rear of which are rear-hinged) open to reveal a luxurious cabin designed to be occupied by no more than four people. It's an unconventional thing, the idea of a four-door Ferrari, but the magicians in Maranello have certainly created something that stands apart from what else is available at this end of the economic scale.

Speaking of economics, the Purosangue carries a base price in the region of $400,000. But that hasn't stopped countless well-heeled individuals from sending in their orders, and demand has reached a level where Ferrari already has to consider closing orders. The reason? V12 power, baby.

Ferrari's chief commercial and marketing officer Enrico Galliera spoke at a media preview of the Purosangue at Maranello on September 8, telling attendees that demand "exploded" once the news broke that the new car would have a V12 engine: "We risk not being able to satisfy demand, and maybe we will need to close the order intake very soon."

He didn't provide the media with a figure or an estimation of how many pre-orders had already been placed, but even with extensive market research, interest in the new, 715-horsepower arrival has gone far beyond what the Italian automaker expected. Nevertheless, Ferrari will stick to its promise that the Purosangue will be relatively exclusive.

2023 Ferrari Purosangue Front Angle View

While Porsche has made a fortune from the Cayenne and Aston Martin, Bentley, and Lamborghini have made best-sellers out of their SUVs, Ferrari is no regular automaker. Much of the brand's appeal lies in the exclusivity of all its models, and while seeing a Lamborghini Urus is cool, it's also commonplace. Lamborghini sold more than 5,000 SUVs last year alone. Seeing a Ferrari, on the other hand, is still something of an occasion, and the Purosangue intends to continue that tradition. Thus, production of the first four-door Fezza will be capped at around 20% of the automaker's sales through its lifecycle. Ferrari's current capacity sits at around 15,000 vehicles per annum. On average, that would translate to around 3,000 Purosangue units per year. Over four to five years of production, it's estimated that 12,000-15,000 Purosangues will be produced.

Of course, Ferrari could increase the proportion of its production capacity reserved for the Purosangue, but that would be a cheap and easy cash grab, and Ferrari is not that type of company.

"We are committed to our clients and, despite the demand, we will keep control of the volume, something that is consistent with our DNA, with our founder mission, which is to remain extremely exclusive," said Galliera. "And the only way to remain exclusive is to control demand and the offer."

He also noted that the unique Ferrari is attracting many newcomers to the brand because the Purosangue is "less intimidating." According to the CCO, "you can drive with the family, with the kids, with the friends, so it is opening a great opportunity for Ferrari." However, these newcomers will have to wait in line behind Ferrari's most loyal supporters.

"Every [Ferrari owner] wants to have a Purosangue, and we need to reward them, as they are the ones that made Ferrari what it is today," he concluded.