Sergio Marchionne, CEO of Italian sports car manufacturer Ferrari, announced the brand will be building its first-ever SUV. At the New York Stock Exchange this week, Marchionne spoke to journalists about the company taking 30 months to study and researching production, even saying the new Ferrari may be called the “FUV,” or a “Ferrari Utility Vehicle.”
Many are speculating the development to be similar to Porsche’s introduction of the Cayenne, which brought profit to the manufacturer. This falls in line with competitors Lamborghini and Aston Martin and their development of luxury SUVs Urus (replacing the LM002) and DBX concept. The closest Ferrari has to an SUV currently is the FF model, with its four seats and four-wheel-drive or the GTC4Lusso successor. The brand is also looking into a way to keep the SUV model limited in production for its clientele.