Report: Ferrari Ponders “Utility” Vehicle

Ferrari SpA, which has frequently declared it will never build a sport utility vehicle, is considering doing just that, sources tell Bloomberg News.

They say the four-seat “utility” vehicle would be part of a five-year plan to expand the iconic brand beyond supercars and double its profits by 2022.

The company sold about 9,000 cars last year and currently says it wants to cap sales at 10,000 to maintain the brand’s exclusivity. Bloomberg notes that limiting sales to 10,000 gives Ferrari a small-manufacturer status that excuses it from meeting certain European and U.S. emissions and fuel economy rules.

Bloomberg’s sources say the proposed new model would be positioned as a four-passenger family vehicle with more room than its wagonlike GTC4Lusso. They say the model, which would go on sale in 2021, would target Chinese customers and could alone account for 2,000 sales per year.