Luxury car ownership keeps trending younger

Kelsey Barberio brings you the biggest news of the day, including how Ferrari is appealing to younger customers.

Transcript

00:00If you thought Ferraris were reserved for a mid-life crisis or a retirement splurge,

00:04you'd be very wrong.

00:05Speaking with CNBC, Ferrari CEO Benedetto Vigna said 40% of new buyers are under the

00:11age of 40.

00:12That number has risen by 10% in just the last 18 months.

00:16But it stands out even more when three-quarters of all Ferraris are sold to existing customers.

00:21Ferrari, which prides itself on the exclusivity of its vehicles, has a more than two-year

00:26wait time for a new car.

00:28And Ferrari may see the number of younger customers tick up even more in what has become

00:32a carbon-conscious world.

00:34The Italian carmaker plans to unveil an all-electric vehicle starting in October.

00:39The EV will be one of six new models Ferrari comes out with in 2025.

00:43At its most recent capital markets day, the company said it is committed to making three

00:47types of vehicles, a traditional combustion, a hybrid, and the new all-electric Ferrari.

00:52That'll do it for your daily briefing.

00:54From New York City, I'm Kelsea Barberio with The Street.

00:58Thanks for watching.

00:59Subscribe for more videos.

01:00See you next time.