Ferrari has just gone on the record to confirm they are in fact releasing their own SUV. CEO of the high-end Italian car manufacturer, Sergio Marchionne, announced the latest addition to their already formidable brand at the New York Stock Exchange this week, divulging the company's careful 30 month study period and production planning. The vehicle to be is also rumoured to be dubbed the "FUV", or Ferrari Utility Vehicle. One thing is for certain, and that's the company shareholders are very happy at the prospect of this imminent project.
“We’re dead serious about this,” says Marchionne. “We need to learn how to master this whole new relationship between exclusivity and scarcity of product, then we’re going to balance this desire to grow with a widening of the product portfolio.”
There's already speculation of it rivalling Porche's Cayenne model, which incidentally, also brought a considerable margin of profit to its manufacturer.
Marchionne also quelled rumours regarding Fiat Chrysler selling off Jeep, rejecting Chinese rival, Great Wall Motor Co., and their expression of interest into acquiring the brand. The CEO went on to explain that it would not make sense, as the two companies have no market overlap, thereby achieving nothing of greater scale together. That being said, he remains open to working together with another automaker, but has yet to find a suitable candidate.