Ferrari is considering adding a roomy, four seat ‘utility vehicle’ to its range as part of a major expansion beyond traditional supercars in a bid to double profit by 2022, a media report said.
Brand such as FCA’s Maserati and VW Group’s Bentley and Lamborghini have already launched SUVs while BMW’s Rolls-Royce has one in the works.
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Sources told Bloomberg a final five year plan under CEO Sergio Marchionne, set to retire in 2021, would target increasing annual sales beyond a self-imposed limit of 10,000 cars which allows the company to operate with less stringent fuel economy rules.
Under the plan, which was likely to be unveiled in early 2018 and could expose the automaker to stricter environmental regulations, Ferrari would also build more hybrid models to improve its vehicles’ efficiency and attract new wealthy buyers, Blomberg’s sources said.
A Ferrari spokesman declined to comment to Bloomberg.
The report noted Marchionne, in charge since 2014, had already taken Ferrari past the earlier cap of 7,000 cars. He had also sanctioned exclusive limited edition models and now wants to ensure Ferrari’s independence as the auto industry shifts gradually to electric cars.
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By GlobalDataFerrari is on pace this year for adjusted EBITDA up over 14% to at least EUR1bn and the new strategy is likely to include doubling that in five years, the Bloomberg sources said.
The new model is called internally the ‘Ferrari utility vehicle’ after Marchionne objected to developing an SUV. The big Ferrari would be targeted at Asian customers, particularly in China, and may alone contribute 2,000 vehicles to annual deliveries, the sources told Bloomberg.
The automaker wants a sporty style and may try to create a new industry segment rather pitch another high end SUV. The car could have two or four doors, is expected to be sold from 2021, and no final decision has been made, the sources added.
