In July, reports emerged linking Ferrari with a new model combining the brand’s typical sports car cues with SUV attributes such as all-wheel drive and increased ground clearance.
Ferrari Chairman Sergio Marchionne on Wednesday confirmed the company is considering adding the vehicle in its quest to double profits by 2022. If given the green light, the vehicle, code-named the F16X, would arrive around 2021 and target customers primarily in Asia.
Marchionne is already committed to boosting deliveries to as many as 9,000 cars per year by 2019, up from 8,014 in 2016 and just 7,000 during ex-Chairman Luca di Montezemolo’s reign. With the F16X, Ferrari would likely exceed 10,000 deliveries, which would force it to meet harsher emissions standards imposed on larger automakers.
According to Bloomberg’s sources, Ferrari would launch new hybrid vehicles to get its fleet-wide emissions down. Marchionne has already said that most Ferraris beyond 2019 would be hybrids. Don’t hold your breath for an electric Ferrari, though, as Marchionne still sees this as an obscenity, because part of a Ferrari’s magic is the noise it makes.
Of course, with all the changes, especially the increases in production, there’s the risk of diluting brand image. So far the brand has been addressing this with more, ultra-exclusive special edition models and one-offs.
Marchionne is expected to announce his new plan for Ferrari in early 2018. He is expected to stay with the brand until 2021 when he retires. He will be retiring from the CEO role at Fiat Chrysler in 2019.