Italian sportscar-maker Ferrari is doubling the number of shifts at its Maranello factory to two a day in 2018, as the marque approaches its goal of 9,000 annual deliveries a year earlier than projected, Bloomberg reports. The exotic brand, which was spun off from Fiat Chrysler Automobiles last year, raised its profit target last month, anticipating €1 billion (about $1.2 billion US) in earnings before interest, taxes, depreciation and amortization.
Ferrari wants to pull in twice that amount by 2022, after surpassing its self-imposed 10,000-vehicle yearly limit.
Much of the extra volume will take the form of a new crossover utility vehicle – the Italian marque’s first. Yet Ferrari will maintain its exclusivity with high MSRPs on products aimed squarely at the one percent; the Portofino, introduced last September in Frankfurt, will be Ferrari’s new entry-level sportscar when it launches with a price tag of around $200,000 US. The “Dino”, if it ever arrives, isn’t likely to undercut it.
Shares of Ferrari have more than doubled in value since the Italian company’s debut on the New York Stock Exchange, currently hovering around $106. This year alone has seen an 83-percent gain. The company’s sales growth and corresponding surge in value could be linked to the growth of the millionaire class worldwide, Bloomberg suggests. That’s a trend that is expected to continue over the next decade.