Ferrari reported to plot 'utility vehicle' to double profit

Ferrari reported to plot 'utility vehicle' to double profit”

It's said that Ferrari is considering the model under direction from CEO Sergio Marchionne, who has said in the recent past that Ferrari will not do an SUV.

Having previously strongly denied that Ferrari would ever venture into the SUV segment, Marchionne reiterated that Ferrari would not be creating an SUV in the mould of those offered by other manufacturers and that "you have to shoot me first" if it did. "However, we are thinking of doing so as FCA, and if we will enter, with one of the brands from the group, we do not know which one it will be right now".

Marchionne said the company was approaching the limit of the number of cars it could produce from its current range and needed to look beyond.

"It will probably happen but it will happen in Ferrari's style".

According to an Automotive News report, sources who prefer not to be identified have confirmed there is a new "utility vehicle" project under consideration. The Man announces that Ferrari will present at the beginning of next year its strategy for 2022 and in particular its expansion plans. "That space is too big and too inviting and we have a lot of our customers who will be more than willing to drive a Ferrari-branded 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.

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. Given that more stringent environmental regulations would occur under the new plan, Ferrari also plans to add more hybrid models in their lineups.

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.

Meanwhile, boosting output could prompt Ferrari to add a second shift to its factory in Maranello, Italy, its only manufacturing site, the people said.

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