The executive's comments simultaneously take a stab at Lamborghini and make an argument for higher production output at Ferrari.
Ferrari and CEO Sergio Marchionne has promised to ramp up production this year, though he still suggests output is not high enough to meet strong demand.
Speaking to Car Magazine at a media event in Geneva, the executive claimed that Ferrari will build less than 8,500 units this year. The number is significantly higher than the previous 7,000-unit cap, but still below Marchionne's personal recommendation that 10,000 vehicles should be sold each year.
"The waiting list for some of our cars is long," he said, noting that he personally talked to several potential customers who missed the cut. "This is the worst thing you can do to a customer."
Marchionne continued his argument when asked about rival Lamborghini, claiming that "a lot of people buy Lamborghinis because they can't get their hands on a Ferrari."
The executive in 2014 sparred with then-chairman Luca di Montezemolo over Ferrari's production numbers. Di Montezemolo argued that no more than 7,000 units should be built, preserving the brand's exclusivity, but he soon resigned and the company has since bumped up its output volume.