FERRARI is predicting its record-breaking sales performance in 2017 will continue into 2018 and beyond, with factors including a strong economy, new product and a dealership expansion set to spur growth.

Speaking to GoAuto at the Australian launch of the Portofino convertible, Ferrari Australasia CEO Herbert Appleroth said “the sky’s the limit” for Ferrari in Australia.

“The only thing that limits us … it’s just our production capacity,” he said.

Mr Appleroth said Ferrari was extremely happy with its current product, its dealer network and the level of customer satisfaction, adding that the company’s low production volumes were the only thing that was holding it back from greater sales success.

However, he emphasised that increasing production capacity was not necessarily a positive thing for the Prancing Horse.

“We’re very happy to at least limit the amount of cars that come to the market – we don’t want to flood the market. Resale value is key for us.

“If you bring in too many cars, the resale market will suffer somehow.

“Globally we could increase capacity and do what we need to do, but we’re true to our founder’s resolve which was always to deliver one less than the demand.”

The order books for the just-launched Portofino are already full for the next 12 months, with Mr Appleroth suggesting that could increase, while the V12-powered 812 Superfast has already sold its entire life-cycle allocation despite only launching in the middle of last year.

Ferrari sells more second-hand cars out of its dealerships than new models, and demand for some vehicles has become so high that the brand has been forced to contact existing owners with offers to buy back certain high-demand vehicles.

The manufacturer is also launching its Ferrari Financial Services program next month, a Macquarie Bank-backed finance program that the brand says will make Ferrari ownership – new or used – easier and more possible.

Last year was a record year for Ferrari with 201 sales, marking an 11.7 per cent increase over the 188 deliveries it recorded in 2016. It also extended the brand’s continuous annual sales growth that started in 2012.

Ferrari sales hovered in double-digit territory for most of the last decade before finally triple figures in 2006 with 101 sales. 2007 marked its fourth best year on record in Australia with 163 units, but the impact of the global financial crisis was felt the following year when sales dropped back to 104.

After hitting a sales low of 98 units in 2012, Ferrari distribution shifted from Neville Crichton’s Sydney-based European Automotive Importers to a factory-backed operation led by Mr Appleroth, and sales have increased ever since.

Mr Appleroth said one of the biggest factors in Ferrari’s success has been a continually strong local economy, and that a downturn would mean the same for sales.

“(Economic strength) is everything. Ferrari is not a need, it’s a want – we’re not a motor transport, we’re a dream,” he said.

“If there’s a weak economy, the first thing that goes are people’s dreams.

“We don’t envisage any time in the future for that to occur, we’re very confident on the basic dynamics of the marketplace and what our customers are telling us … we’re extremely confident and the economic signs are brilliant.”

Ferrari’s confidence is evidenced by a 50 per cent increase in its Australasian dealer network, with three new dealers in Sydney, Melbourne and the Gold Coast to open in 2018.

While the Gold Coast is virgin territory for Ferrari, the company already has dealers in Sydney and Melbourne, along with Brisbane, Adelaide, Perth and Auckland.

Where a new Ferrari model may have been launched every two years in the past, the last 12 months has seen the launch of three new models, which Mr Appleroth says has made dealers happy.

“I think if you ask the dealer network what’s their favourite franchise and has been for the last four to five years, it’s Ferrari because we continue to invest so much money and research and development into development of new product and our people.”

With the Portofino, 812 Superfast and GTC4Lusso launching in the past year, the oldest model in Ferrari’s stable is now the 488, which arrived locally in September 2016.

There is also the possibility of a Ferrari SUV arriving around the turn of the decade, with Fiat Chrysler Automobiles CEO Sergio Marchionne hinting as much at the Detroit motor show in January.

By Robbie Wallis