Ferrari CEO: Mexico is the next China

Countries like India and Russia have been billed as the next big emerging markets, and rightfully so, but Ferrari's North American Chief Executive Officer thinks the next major auto boom will take place right in our backyard.

Speaking with Forbes earlier this month, Ferrari North America CEO Marco Mattiacci identified Mexico as the next big growth market for the automotive industry.

“Mexico is the next China,” Mattiacci said.

Mattiacci said new foreign investments and an expansion of the country's manufacturing base are priming Mexico for dramatic wealth creation over the next decade or so.

“We see indicators that lot of manufacturing is moving back to Mexico,” Mattiacci said. “The quality of education is absolutely outstanding, and you have a proximity with the U.S. as well. Plus there has been a change of government.”

Mattiacci also cited demand for Ferrari's all-new La Ferrari flagship as an indication of Mexico's growing wealth. When the Enzo supercar launched in 2003 just a handful of orders were fulfilled in Mexico, but Mattiacci said the company has already fielded 15 requests for the La Ferrari, which is expected to carry a price tag of $1.5 million, in the country.