Luxury automaker Rolls-Royce says that their decision on whether to add an SUV to their lineup will be finalized by this year.

According to Automotive News, Rolls Royce CEO Torsten Müller-Ötvös stated that along with the unveiling of a new convertible for mid-2016 this year, the company will also be announcing its verdict about the inclusion of a SUV.

"We've made progress in evaluating options and in understanding better how such a project could work, what's needed to make it work if we decide to go ahead," said Müller-Ötvös.

The plan of adding a SUV into their nomenclature was brought about as the company seeks to expand further after a five-year streak on sales. Rolls-Royce global sales quadrupled since 2009, marking a 12% increase last year with 4,063 cars. Topping the brand's sales was the Wraith Coupe and is followed by the updated Ghost II Series.

Rolls-Royce's closest rival, Bentley, has already teased their upcoming SUV last year during the months of March and November.

Source: Automotive News