Adjusted earnings before interest, taxes, depreciation and amortization rose to €270 million (Dh1.17 billion) from €217m a year earlier, Ferrari said on Wednesday, beating the average €262m estimate of six analysts surveyed by Bloomberg.
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.
So no, Ferrari isn't building an SUV as such, but rather, a "Ferrari Utility Vehicle". Should Ferrari decide to go down the SUV avenue, it will be among the final acts of Marchionne, who will step down as boss of the Fiat Chrysler Group in 2019, followed by bowing out of Ferrari in 2021. The Man announces that Ferrari will present at the beginning of next year its strategy for 2022 and in particular its expansion plans.
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. Whatever the motivation, Ferrari is determined to disrupt the SUV market.
It is said that the vehicle might be released to target the Asian market especially China and that we might see it as early as 2021.
Ferrari's current customer base, he added, is packed with clients who would "more than willing" to drive a Ferrari with a crossover's utility and versatility, according to Bloomberg. For years, the Italian automaker had built its reputation on speed and performance, and sports utility vehicles aren't exactly the first vehicles one would think of when talking speed and performance. Marchionne also noted that Ferrari's decision will not be made with intent to compete with Porsche. The plans are expected to include more hybrid models to help the company meet ever-tightening emissions regulations.
Meanwhile, boosting output could prompt Ferrari to add a second shift to its factory in Maranello, Italy, its only manufacturing site, the people said.