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  • Ferrari Confirms Desire to Build SUV

Ferrari Confirms Desire to Build SUV

Ferrari Claims They are Looking to Reinvent the Segment

Ben Albano
Aug 3, 2017
The SUV and CUV markets have become enormously popular over the past few years, and as it turns out, the ultra-wealthy want to buy SUVs too, especially those in Chinese markets. Since demand has increased, auto manufacturers like Bentley, Rolls Royce, and Lamborghini are producing SUVs with near supercar level performance and luxury that cater to their clients who want the prestige and exclusivity of a high-end brand, but need a more practical package.
Ferrari NV confirmed it’s considering an expansion of its high-performance luxury brand into the utility vehicle business, according to a Bloomberg report. Ferrari claims they are looking to reinvent the segment, with plans to maintain The Prancing Horse's brand exclusivity. Details of the new strategy will be unveiled next year.
"It will probably happen but it will happen in Ferrari’s style,” Chief Executive Officer Sergio Marchionne said during a conference call to report quarterly earnings. 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.”
Photo 2/2   |   Ferrari 488 GTB Front View In Motion 03 85
Ferrari’s new FUV will be part of a 5-year plan, which will begin in the first quarter of 2018. Instating this plan would breach the storied Italian supercar maker’s self-imposed limit of delivering 10,000 cars yearly, an idea thought to potentially diminish the exclusivity and value of Ferrari vehicles.
Producing beyond 10,000 vehicles yearly might be OK though, given Ferrari’s plans to make its SUV completely unlike others in the segment. Marchionne’s “you’d have to shoot me first” attitude about producing an SUV like those offered by BMW, Bentley, and Porsche.
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. Marchionne also noted that Ferrari’s decision will not be made with intent to compete with Porsche. Whatever the motivation, Ferrari is determined to disrupt the SUV market. Well, the ultra-luxury SUV market anyway.
Source: Bloomberg
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