Luca di Montezemolo

Yeah.

I mean, it's a real Ferrari under the hood.

Yes.

The really disciplined thing that they did, though, they capped total production at 20%.

This ensures that when you see a Ferrari on the road, it will stay your classic idea of what a Ferrari is.

It really protects the brand and it sacrifices a lot of short-term profits.

And I got to say, I have immense reverence for the company for this sort of discipline.

Yes.

I saw one this week, David, at an event that we were at, valet parked outside.

And I thought, oh, I've actually never seen one of those before.

Yeah.

Which is exactly how it should be every time you see a Ferrari.

Yes.

So the other thing about their model range is they have become very diligent about their wait lists too.

They are essentially sold out these days for the next two years.

Most car companies could not tell you what their sales will look like next quarter.

But as of today, Ferrari knows exactly what their sales will be and to who through the end of 2027 at least, maybe into early 28.

And if you want one sooner, you're going to have to buy a used one.

Okay.

So the average selling price of a Ferrari is about $500,000, up from $350,000 in 2022.