According to Bloomberg, Ferrari is looking to increase the delivery numbers in the future and one way to do that is to release a few hybrid models along with a Utility Vehicle that is more family friendly.
Ferrari CEO Sergio Marchionne after the presentation of the new LaFerrari hybrid vehicle on the Ferrari stand during the first media day of the 83rd Geneva auto Show at the Palexpo Arena in Geneva March 5, 2013.
With Bentley selling lorry loads of Bentaygas, Porsche still making hay, Maserati in on the act and the Lamborghini Urus and Rolls Royce Cullinan nearly here (not to mention Land Rover's success), it would be corporate suicide not to deliver a Ferrari SUV. "Whatever it is, it will be of the same caliber as anything else we have done", he said.
Italian luxury sportscar maker Ferrari reported a 24 percent rise in second-quarter core earnings on Wednesday and kept its full-year guidance disappointing some investors who had expected it to lift its outlook.
The Ferrari CEO's argument is that the SUV market is simply too big to ignore.
Ferrari is celebrating its 70th anniversary this year with a series of tailor-made cars, all inspired by iconic models from its past.
Ferrari's current target is to boost vehicle sales to 9,000 cars in 2019 from 8,014 in 2016. And while this may bring to mind the possibility of the company focusing mainly on the utilitarian side of things, rather than high performance and flashy design, Ferrari CEO Sergio Marchionne stressed that exclusivity will still be at a premium, as his company hopes to "reinvent" the SUV space.
Designed for everyday use, the GTC4Lusso T V8 engine, located under version V12, makes a good start.
Based on Marchionne's comments, however, the potential first-ever Ferrari SUV may be very different from vehicles such as the Bentley Bentayga and Porsche Cayenne, as well as the upcoming Lamborghini Urus and Aston Martin DBX. The uncertainty around the impact of the product expansion on margins also weighed on sentiment, traders said.