Ferrari planning new 'utility vehicle', first crossover/SUV

Ferrari planning new 'utility vehicle', first crossover/SUV

"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.

So we must assume the clever chaps designing flaws out of embryos have been practicing on Ferrari's DNA first, because it seems Sergio has had a change of heart.

More information has surfaced on the supposed Ferrari crossover, which according to a recent report won't be a crossover or SUV, but will instead occupy a new vehicle segment altogether.

Marchionne said Ferrari would unveil a new strategy to 2022 early next year and that it would give an indication on how it would expand the luxury brand beyond cars.

It's understood the new model, which has previously been rumoured as the F16X, is being conjured up as part of a five-year business plan to help increase sales beyond its 10,000-unit annual cap.

Ferrari is studying ways to ensure its sporty style with the new auto, which the manufacturer will try to market as a new industry segment rather than as another high-end sport utility vehicle, following the likes of Maserati, Bentley and Lamborghini, they said. Ferrari shares went on the United States market in October 2015 and started Italian trading in January 2016.

The sources said the family vehicle would be targeted to Asian customers, especially in China and could contribute 2,000 cars to annual deliveries. As for the Ferrari Utility Vehicle, it is said to sold beginning 2021.

"There is a risk that an SUV could dilute the Ferrari brand", Richard Hilgert, an analyst at Morningstar Inc., said in an email. "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". Overall, the group plans to ship around 8,400 vehicles in 2017, getting closer to the 9,000 goal it has set for 2019. No final decision on the model has been made. He intends to retire from the two manufacturers in coming years.