https://seekingalpha.com/article/4325637-how-to-destroy-great-global-brand-and-cult-of-ferrari "Given these factors, Ferrari reserved the allocations for these cars to their better customers. Without question, this has helped. However, the significant upcycle in exotic cars witnessed from 2005 to 2015 increased the number of potential customers who started buying regular range vehicles to fall into the factory’s good graces with the hope of gaining an allocation. The expectation with this strategy is that the profits they could make on one of the special versions will more than offset any losses they take on regular range vehicles. We are not saying that customers do not enjoy these cars, but rather, that they would buy less of them without the promise of the valuable special version allocation. Furthermore, the ultimate keys to Ferrari’s promised land is the allure of an allocation to the company’s even more limited hypercars (explained in greater detail below): top-dollar sports cars embedding the latest racing technology, which the company historically introduced every 10 years. While this is a perfectly good strategy showing the company’s success at managing supply, it demonstrates how sensitive the business model is to the perception of exclusivity, investment potential, and residual values of the special series. The risk is, therefore, producing too many “special” series to the point that they become less “special.” Once customers stop believing that the allocation has value, they will stop buying extra cars in order to receive access to the special series allocation. While we are concerned that Ferrari is already ramping production and introducing too many models for residual values and exclusivity to hold, what is more concerning is the ramp in special series cars. Ferrari’s production has gone from 5,000 to 10,000 but the special series has gone from 1,200 to 6,000 for the core mid-engine model."