For years, Ferrari flirted with the idea of riding the cash-infused wave that is the SUV market. Now, Ferrari chairman Sergio Marchionne confirmed the news: a Ferrari SUV is coming. This after the Italian-Canadian executive said he’d rather be shot than produce a Ferrari utility vehicle.
Marchionne spoke to Bloomberg and confirmed the Italian sports car maker will build its first SUV in the years to come. However, he reiterated production volumes will be low to ensure exclusivity. Final production volumes for the unnamed Ferrari SUV will be made in the next two and a half years.
“We’re dead serious about this,” Marchionne said when speaking of the Ferrari SUV, which he called “FUV.”
Ferrari plans to present its next five-year plan next year, which will take the Italian marque through 2022. Ferrari has also targeted profit growth in the years to come—no doubt the decision to build a Ferrari SUV will help the brand meet such a goal.
Earlier this year, reports broke stating Ferrari is already developing the SUV with the codename F16X. Per the report, the Ferrari SUV will replace the Ferrari FF and arrive with a $300,000-plus price tag.