RIYADH: Saudi Arabia has emerged as one of the main drivers of Italian luxury sports carmaker Ferrari's growth in the Middle East, fueled by an expanding population of high-net-worth individuals, a new generation of customers and growing interest in luxury sports cars.
Despite accelerating demand across the region, the company remains committed to a strategy centered on limited production and preserving the exclusivity of its brand.
Giorgio Turri, regional director of Ferrari Middle East, said Saudi Arabia is no longer simply a market experiencing rising demand, but has become a strategic market for Ferrari's presence, future growth and innovation in the Middle East.
Speaking to Asharq Al-Awsat, Turri explained that the economic and social transformations associated with Saudi Vision 2030 have contributed to a shift in the company's customer demographics, with growing numbers of younger buyers interested in sports cars, vehicle personalization and motorsports.
Riyadh showroom reflects market's importance
Turri said the opening of Ferrari's new showroom in Riyadh, the first in the Middle East and Asia to adopt the company's new corporate identity, reflects the growing importance of the Saudi market within its regional strategy.
He added that demand in the Kingdom continues on an upward trajectory among both existing and first-time customers.
Ferrari is seeking to broaden its customer base by developing new models, building on the success of vehicles such as the California, Roma and Purosangue, while looking ahead to the introduction of the Luce, its first fully electric vehicle and first five-seat model.
Growth versus exclusivity
Despite rising demand, Turri stressed that Ferrari does not pursue higher sales volumes as an end in themselves.
The company does not seek to increase sales volumes as a goal in itself, he said, explaining that expansion requires carefully balancing market demand with the company's commitment to limited production.
He noted that Ferrari customers in the Middle East are among the youngest worldwide, a trend also evident in Saudi Arabia, where interest in vehicle personalization programs and participation in driving and racing activities is increasing.
Turri said the Kingdom is home to one of the most active Ferrari owners' clubs globally, while Saudi customers demonstrate detailed knowledge of vehicle specifications, technology and performance.
Saudi Arabia, UAE and Qatar lead regional demand
Discussing regional market performance, Turri said economic transformation and growing wealth are supporting long-term demand for luxury vehicles.
He noted that demand is accelerating more rapidly in Saudi Arabia, the UAE and Qatar than in other markets across the region.
More than 40 percent of new Ferraris delivered annually in the Middle East go to first-time buyers of the brand, he revealed, while the proportion exceeds 50 percent in the pre-owned vehicle market.
These trends coincide with Ferrari's plan to introduce an average of four new models annually between 2026 and 2030.
Regional disruptions force changes to shipping routes
Addressing the impact of recent geopolitical disruptions, Turri said the main effects were felt in supply chains and logistics, after the closure of the Strait of Hormuz forced Ferrari to adjust shipping routes to Gulf markets.
He explained that the company managed the challenges during March and resumed its normal pace of operations in April by rerouting maritime shipments and using air freight when necessary.
Turri confirmed that showrooms and service centers continued operating and that demand had not changed significantly, with the economic and demographic factors supporting the Gulf market remaining intact.
An ecosystem beyond car sales
Turning to Ferrari's strategy in Saudi Arabia, Turri said the next phase would focus on expanding activities associated with vehicle ownership, including driving programs, racing events and exclusive customer experiences.
He explained that the Jeddah Corniche Circuit has been part of Ferrari's programs since 2023 and is scheduled to host the Ferrari Challenge championship for the first time in February 2027, amid growing participation by Saudi amateur drivers.
Turri also highlighted the company's first customer tour in AlUla in 2025, alongside other events organized during the holy month of Ramadan.
He said these activities have become an integral part of Ferrari's strategy to deepen customers' connection with the brand.
Turri emphasized that Saudi Arabia represents a significant growth opportunity in the coming years, driven not only by increasing demand for sports cars but also by an expanding customer base and growing interest in motorsports across the Kingdom.