Good news for Ferrari owners wasn't quite so good for the automaker's shareholders.
On Tuesday, the newly public Ferrari said in its fourth-quarter earnings release that it shipped 7,664 cars last year, and plans to ship around 7,900 in 2016. That represents growth of 6 percent for last year, with projections for a smaller 3 percent increase in 2016.
Investors balked at the automaker's guidance, sending Ferrari's U.S. shares down nearly 13 percent in afternoon trading. But while its limited production forecast was disappointing to growth-hungry investors, it had the opposite effect on Ferrari owners, who had been concerned the company would ramp up production to boost profits. That would make make the car less exclusive, and therefore less valuable for resale.
On Ferrari's conference call, Chairman Sergio Marchionne said the company will continue to follow founder Enzo Ferrari's mantra: Building fewer cars than customers want. He added that despite the company's modest sales projections for 2016, it has a "strong backlog of orders."