Ferrari to Hike Production 7% in 2018

Ferrari NV aims to boost its output of supercars from 8,400 this year to 9,000 in 2018, according to Bloomberg News.

Sources tell the news service that Ferrari will add second production shifts to achieve the goal a year earlier than previously scheduled. The company, which was spun off last year from Fiat Chrysler Automobiles NV, has more than doubled its stock price since then.

Ferrari is developing its first-ever SUV/crossover vehicle that is expected to push the company’s annual sales volume above 10,000 units. Bloomberg’s sources say the brand aims to double its operating profit to about €2 billion ($2.4 billion) by 2022.