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Ferrari CEO Sergio Marchionne Confirms Supercar Maker's SUV Plans

Ferrari CEO Sergio Marchionne Confirms Supercar Maker's SUV Plans”

Of course, there is no way to confirm the rumour now but what do you think of Ferrari jumping on the SUV train as well? Ferrari NV is considering adding a roomy four-seat "utility vehicle" as part of a major expansion push beyond its traditional supercar niche in a bid to double profit by 2022, people familiar with the matter said. Ferrari chairman Sergio Marchionne had objections to making a true crossover or SUV, so instead, the automaker is looking to invent a new vehicle segment with the more practical Prancing Horse. The plans are expected to include more hybrid models to help the company meet ever-tightening emissions regulations.

Ever since Sergio Marchionne took charge of Ferrari in 2014, he has been slowly increasing the volume of vehicles per year, already passing the 7,000 auto limit.

Ferrari's second-quarter profit jumped 24 per cent as the Italian supercar maker benefited from demand for its special editions, including the US$2.1 million LaFerrari Aperta convertible, while preparing to expand beyond sports cars.

The Ferrari CEO's argument is that the SUV market is simply too big to ignore.

Sources cited by the Bloomberg news agency have suggested that the "Ferrari Utility Vehicle" could form part of a new five-year-plan created to boost sales beyond Ferrari's current self-imposed limit of 10,000 cars per year.

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.

Ferrari said adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) in April-June rose to 270 million euros, in line with a Thomson Reuters SmartEstimate of 271 million euros. However, do note that no final decision has been made. The carmaker's executives have had meetings with investors in the past weeks to prepare them for the new strategy, the people said. He intends to retire from the two manufacturers in coming years.



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