Ferrari Confirms It’s Considering a Utility Vehicle

Recent rumblings have suggested Ferrari is considering a utility vehicle that will help double its profits by 2022. Now, Ferrari CEO Sergio Marchionne has confirmed it’s a strong possibility.

“It will probably happen but it will happen in Ferrari style,” Marchionne said on a conference call, reports Bloomberg. “That space is too big and too inviting and we have a lot of our customers who will be more than willing to drive a Ferrari-branded vehicle that has that king of utilitarian objective.”

Marchionne’s comments signal Ferrari has shifted its attitude about SUVs. Back in 2014, outgoing Ferrari boss Luca di Montezemolo and his successor, Marchionne, vowed there will be no SUV or four-door sedan.

Now, Ferrari is looking to reinvent the segment, and Marchionne said “you have to shoot me first” if his SUV turns out similar to offerings from Bentley, BMW, and Porsche. And there are plenty of other rivals. Lamborghini is expected to offer the Urus SUV in global markets next year, and Aston Martin will enter the fray with the DBX crossover scheduled to begin production in 2019. While declining to use the word SUV, Rolls-Royce says it’s planning an “all-terrain, high-sided vehicle” that could debut to the public sometime next year.

Ferrari has not made a final ruling on an SUV, but expect to hear an answer next year. In the first quarter of 2018, Ferrari will present a new five-year plan that could include an SUV, Marchionne said. The company also plans to increase its range of hybrid sports cars in the future.

According to reports earlier this week, Ferrari is considering a utility vehicle to increase deliveries to more than 10,000 vehicles a year. In contrast to former chairman di Montezemolo who wanted to limit volume to preserve the brand’s exclusivity, Marchionne reportedly wants to expand volume. Other reports have suggested the Ferrari SUV will come with hidden rear doors and will launch in 2021.

Source: Bloomberg

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