Ferrari is just about to become less exclusive as the company has disclosed plans to increase annual production output by 30%.

Ferrari is just about to become less exclusive as the company has disclosed plans to increase annual production output by 30%.

The reveal was made in a filing with the Securities and Exchange Commission (SEC) and indicates the current production rate of around 7,000 cars will jump by a massive 30% to about 9,000 units by 2019. This shouldn't really come as a surprise taking into account that last year after Luca di Montezemolo's exit, new chairman (and likely soon to be CEO) Sergio Marchionne revealed plans to expand production. The decision is being motivated in the SEC filing as a response to "growing demand in emerging markets and from demographic changes as the size and spending capacity of our target client grows."

Ferrari mentions that despite boosting production, they will "maintain a reputation of exclusivity and scarcity among purchasers of our cars and deliberately monitor and maintain our production volumes and delivery wait times to promote this reputation." That being said, Ferrari owners are probably not delighted to hear there are going to be significantly more prancing horses on the road in the near future. On the other hand, clients won't have to wait so long anymore to get their cars compared to now when some buyers have to wait more than a year to receive their prized possessions.

Aside from making more cars, Ferrari plans to enhance the brand's image (and make more money) by opening up new theme parks and retails stores, as well as sign licensing deals for numerous products such as watches, sportswear, electronics and other items.

Source: CNBC.com

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