AUTO INDUSTRY NEWS

Report: Ferrari 'dead serious' on building a crossover

Report: Ferrari 'dead serious' on building a crossover image

Anton Andres / Ferrari | October 11, 2017 12:20

'Ferrari Utility Vehicle' may debut by mid-2020

Ferrari has long been putting down rumors of building a crossover, going as far as saying they will never build such a vehicle. The CEO of Ferrari (and Fiat Chrysler Automobiles), Sergio Marchionne, also dismissed the said rumor in the past but now, the chief of the Italian sports car maker has said that they are 'dead serious' in developing and producing a Ferrari crossover.

During a speech at the New York Stock Exchange, Marchionne told journalists present that it will take approximately 30 months for Ferrari to make a final decision surrounding the matter. That does mean we will not be seeing what Marchionne refers to as the 'FUV' (Ferrari Utility Vehicle) within this decade. He also told the reporters that, if approved, the crossover will be produced in limited numbers to preserve the exclusivity of the brand.

Two years ago, it seemed like Ferrari was beginning to consider an entry into the luxury crossover segment. Italian newspaper Corriere Della Sera's motoring page was able to scoop photos of a crossover design study which saw Ferrari FF cues and a raised ride height. However, the said study was not approved.

With Aston Martin, Lamborghini and Rolls-Royce joining the crossover market, it is possible that it might have swayed Ferrari to reconsider their first decision. The Aston Martin DBX is slated to arrive by 2019, and so are the Lamborghini Urus and Rolls-Royce Cullinan. Ferrari also wants to double their profits by the year 2022 and are also considering expanding the current product portfolio.

Source: Bloomberg