Ferrari entered the SUV game last fall with the arrival of the Purosangue, a model that serves as the replacement for the GTC4 Lusso hatchback and at present is available exclusively with V-12 power.

In an interview with Bloomberg published on Monday, Ferrari CEO Benedetto Vigna said the SUV has proven much more popular than the automaker predicted, with order books filling four times faster than what Ferrari had planned.

It means anyone placing an order today will have to wait until late 2024 or later to take delivery.

Despite the strong demand, Ferrari has no plans to drastically boost production. The automaker plans to continue its tradition of limiting production to boost desirability and protect resale values. In his interview with Bloomberg, Vigna said production of the Purosangue will never exceed 20% of the automaker's total deliveries.

Benedetto Vigna

Benedetto Vigna

Last year Ferrari managed to deliver 13,221 units, which was a new record for the marque.

Vigna also explained Ferrari's reasoning for not launching the Purosangue with a hybrid powertrain. He said the strong demand for the Purosangue validates Ferrari's belief there's still room for a mix of powertrain options at the automaker, spanning gas engines, hybrid powertrains, and eventually fully electric powertrains.

Vigna reaffirmed Ferrari's plans to launch its first EV in 2025 and said deliveries will start in 2026. It will likely also be an SUV.

Deliveries of the Purosangue are slated to start in the U.S. in the third quarter of 2023. Though it's yet to be confirmed, a hybrid powertrain is expected to be offered in the SUV at some point in its life cycle.