Ferrari U.S. Boss Says Mexico Is the New China

Mexico is the next big thing for luxury automakers, Ferrari North America CEO Marco Mattiacci believes. “Mexico is the next China,” the executive said during a discussion about the future of the luxury industry.

According to Mattiacci, the massive growth anticipated in revenue and manufacturing is not necessarily due to Ferrari, but more to the expansion of the auto industry in the last 13 years because of dramatic wealth creation, increased appetite for industry and important investments from abroad.

“We see indicators that lot of manufacturing is moving back to Mexico. The quality of education is absolutely outstanding, and you have a proximity with the U.S. as well. Plus there has been a change of government,” Matteucci said, according to a report from Forbes.

The Ferrari North America CEO said he was astounded by Mexico demand for the LaFerrari, the brand’s most exclusive model that will be built in a limited edition of 499 units.

“When we launched the new LaFerrari we are positively surprised that sadly we now have on-hand a list of 15 millionaires and billionaires who want to request that car,” Mattiacci said. As you probably know, the entire production of LaFerrari was sold out long before the car was revealed. “I can tell you that in 2003 when we launched Enzo in Mexico was not having that kind of request. That’s a big indicator,” he added.

Ferrari’s boss Luca di Montezemolo recently said that the company will focus more on exclusivity than on growing sales. As a consequence, production for 2013 will be less than 7,000 cars, down from 7,318 sold last year.

By Dan Mihalascu

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