Small is powerful. No brand can compete with luxury niche Ferrari
Can one Italian luxury niche top Brand Finance’s “strength” list? Yes, Ferrari can. According to the Brand Strength Index, Toyota, BMW and Mecedes-Benz are the three most valuable auto brands of 2017, but the legendary Italian car manufacturer wins when it comes to brand strength.
Thanks to its marketing investment, familiarity, loyalty, staff satisfaction and corporate reputation, Ferrari has been named the world’s most powerful auto brand. Its brand strength score is at 91.9, ahead of Porsche, Volkswagen and Seat. Italian brand Lamborghini is ranked tenth in the Brand Finance’s most powerful auto brands annual list.
THE FERRARI REVOLUTION FOCUSES ON WIDER PRODUCTION CAP
Success never happens by chance. A small revolution is underway in the Italian luxury auto industry. Ferrari president Sergio Marchionne’s strategy has set aside the former chairman Luca Cordero di Montezemolo’s one. While the previous boss enforced a strict production cap of 7,000 vehicles, Marchionne has been employing a less puritanical approach.
The annual production cap has been raised to 9,000 and a new Ferrari theme park is opening at Spain’s PortAventura on April 7th. An hour southwest of Barcelona, Ferrari Land will feature five rides based on the sports car brand, allowing everyone to try out these famous luxury sports cars.
BRAND VALUE SURGE 40%, WELCOME TO THE PERFECT FORMULA
Q4 Ferrari revenues beat analyst expectations, which saw shares rise 4% earlier this month. Brand value is up 40% to US$6.15bn.
“The fact Ferrari has boosted revenues without compromising brand strength suggests that it has found the perfect formula to sustainably exploit brand equity to maximize shareholder value,” Brand Finance CEO David Haigh said.