And with that comment straight from the top boss, well-heeled SUV lovers the world over will have no prancing horse to chauffeur their kids in.
Sergio Marchionne who is the head of Ferrari (and its parent company Fiat Chrysler Automobiles) has dispelled the prospect that it will follow in Lamborghini’s footsteps in creating an SUV to boost its sales.
Ferrari last year began trading publicly on the NYSE and its stocks have since dropped by more than 30 percent. With these unfavourable figures, Bloomberg questioned whether financial pressure from its shareholders will eventually affect the cars that it builds.
Marchionne’s response? “You have to shoot me first.”
Ferrari’s earnings slump at the moment is due mainly in part to a shortage of deliveries going to China, a drop in 22 percent caused by its tanking economy. The Maranello-based company appears to be in capable hands though with Marchionne explaining that Ferrari “will be fine” so long as it continues to make one less car than demand requires.
This is certainly walking a very fine line between profitability and exclusivity, as Marchionne has in the past expressed his interest in raising production of vehicles from the long-standing ceiling of 7000 cars to more than 9000.
For now, not having an SUV in the Ferrari lineup doesn’t seem to be a threat to Marchionne. As the brand itself is more than just a carmaker, it will be drawing revenue from its vast stream of recreational channels. A second Ferrari theme park will be opened in Spain this year whilst there’s talks of the brand moving into other lifestyle categories such as sportswear, watches, accessories and consumer electronics.