Jason Hall

There's a difference between being totally disrupted and just increasing competition.

Competition is good for businesses, it's good for their customers, and eventually it's good for shareholders too.

If we operate through that really important lens of Ferrari as a luxury brand and not a car company, then yes, I do think it can continue to deliver more of the long-term success we've seen.

Since its 2016 IPO, revenue is up about 150%.

That's about 10% a year on average, which is pretty good.

because of the way the business is built, and that income is up almost six-fold.

The stock's gone up almost six-fold along with it.

Now, how can it sustain that while still being true to Enzo Ferrari's famous line, supplying the market with exactly one less Ferrari than it demands?

It's simple, it's growth in that market.

If we go back to 2000, there were less than 500 billionaires in the world.

Today, there are more than 3,000.

There's close to 70,000 people worth more than $200 million.

That's about a seven-fold increase over the past quarter century.

What does that mean for Ferrari?

We know the growth of the world's global wealthy is continuing.

Ferrari is in this extraordinary position that it can continue to raise prices and therefore its margins and build a few more cars.

and still remain a rare, extremely desirable brand that people will pay whatever Ferrari asks to add that latest model to their collection.

You don't order it.

They tell you that you can order it.

This can be both, investing in the company and propping it up.