Maserati Plans Second SUV

Maserati SpA is developing a second SUV/crossover model to help it expand sales and reach a goal of generating €1 billion ($1.2 billion) in annual pretax earnings.

The company, a unit of Fiat Chrysler Automobiles NV, boosted sales 30% to 42,100 vehicles last year. Deliveries in 2017 are up another 50%. The gains are due largely to the debut of the €76,000 ($90,100) Levante, the luxury brand’s first crossover vehicle, in March 2016.

FCA CEO Sergio Marchionne says the future crossover will be smaller than the Levante. The new model, likely to go on sale by 2020, will ride on the same chassis that carries FCA’s €43,000 ($50,800) Alfa Romeo Stelvio SUV.

Marchionne tells investors that a second crossover should raise Maserati’s annual worldwide sales to at least 70,000 units.