Ferrari CEO says a utility vehicle would not hurt brand or margins
Ag 13 2017
An expansion of Ferrari's line-up into utility vehicles would not compromise the Italian carmaker's exclusive status nor its luxury profit margins, Chief Executive Sergio Marchionne said on Wednesday.
According to an Automotive News report, sources who prefer not to be identified have confirmed there is a new "utility vehicle" project under consideration.
Despite extensive speculation about Ferrari's SUV plans, Marchionne makes it clear in the interview that the company's board has not made any formal decisions whether to build an SUV.
It seems this will all become official when Ferrari reveals its five year plan early next year, and that it will see Ferrari pushing past its self-imposed production of 10,000 cars a year.
The 812 Superfast, Ferrari's most powerful model to date that has yet to arrive on the market, already has a waiting list beyond 2018, the company said.
It is said that the vehicle might be released to target the Asian market especially China and that we might see it as early as 2021.
Ferrari was spun off from FCA's portfolio of brands in 2015, which means it's technically not an FCA brand as Marchionne alluded to with its potential Formula E entrance. Marchionne explains the SUV space is "too big and too inviting", which might open the door for Ferrari to build a vehicle that has "that king of utilitarian objective".
Details of the five-year plan are set to be revealed next year as Marchionne sums up his final goals before an aimed retirement in 2021. Analysts at Mediobanca SpA, UBS Group AG and Bernstein predict deliveries could jump to as high as 15,000 under a new strategy, which Marchionne hinted he was developing during his first-quarter earnings presentation in May. The plans are expected to include more hybrid models to help the company meet ever-tightening emissions regulations.
Those models, like the current US$1.5 million LaFerrari, will be equipped with an electric motor to improve performance and add horsepower, the people said. He intends to step down from Fiat in 2019 and Ferrari two years later.
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