Ferrari is cutting back on production this year to maintain the brand's exclusivity.

Nothing turns heads quite like the sight of a Ferrari roaring down the road. The excitement and awe stems from the fact there aren’t many around. To ensure that continues, Ferrari plans to cut sales to fewer than 7,000 vehicles this year to maintain that aura of exclusivity around the storied brand.

“The decision we have made to sell fewer cars this year despite stronger sales is due to protect brand’s exclusivity,” Ferrari Chairman Luca Cordero di Montezemolo told reporters during a session at the company’s fabled factory in Maranello, Italy.

Ferrari produced 7,318 cars last year, he said.

“We made this decision because it’s important also for the dealer cultures,” he said. “Dealers must understand that quality is important, not just quantity.”

Capping production will ease the concerns of Ferrari fans and owners who have worried about brand dilution. Ferrari annual production has doubled in the past decade and it recently completed expanding both its engine and assembly capacity at the Maranello factory.

Ferrari plans to hire 250 workers this year, Montezemolo said. Of the new employees, 200 will build engines for Maserati as part of Fiat’s plan to boost sales of upscale models to counter losses in the volume car business in Europe.

Ferrari unveiled the 1 million-euro LaFerrari hybrid model at the Geneva car show in March, which is already sold out months before the first delivery. Ferrari is also planning to boost profitability with high-end, customized version of its vehicles while holding back on their availability.

The brand’s first-quarter earnings before interest, taxes and one-time items, jumped 43% to 80 million euros, helped by higher sales and contributions from product licensing and car customization. Revenue increased 8% to 551 million euros.

(To read about the new LaFerrari hybrid, Click Here.)

Montezemolo said Fiat doesn’t intend to sell shares in Ferrari or spin off the unit as part of the Turin, Italy-based carmaker’s plan to merge with its Chrysler Group LLC unit in the U.S.

Fiat CEO Sergio Marchionne wants to combine Fiat and Chrysler after buying full control of the Auburn Hills, Mich.-based division and he has suggested Ferrari could be spun-off to raised cash.

(Click Here for more on the McLaren P1.)

Ferrari is in talks with Apple Inc. about broadening a partnership on in-car entertainment, Di Montezemolo said in March. The four-seat Ferrari FF model includes the U.S. mobile-device maker’s mini iPad tablets on the passenger seats. Eddy Cue, Apple senior vice president overseeing online services, joined the Ferrari board last year.