Do Not Expect A SUV Or EV From Ferrari, Ever

Do Not Expect A SUV Or EV From Ferrari, Ever

$FCAU, $VLKAY, $TSLA

Ferrari, the world’s #1 brand automotive or otherwise, plans to stick to making luxury super sports cars, it will not join the crowd with a SUV (sport utility vehicle) or an EV (electric) model, as the traditional Ferrari engine melody is part of what customers love.

“We have been refining our concept of building two-door sports cars for 60 years, and one of Ferrari’s strengths is to have always worked in a coherent way in a well defined segment,” Chief Executive Officer Amedeo Felisa, 69 anni, told reporters in Frankfurt.

“It’s not that we are not planning an SUV for now, we are not planning one at all.” An all-electric car also is not being developed because “1 of the characteristics of Ferraris is the sound of the engine, and an electric car makes no sound.”

True to form, Ferrari unveiled the EUR 235,000 ($266,000) 488 Spider at the Frankfurt International Motor Show. Its V8 engine propels the car to 60 mph in 3 secs

The iconic Italian sports car manufacturer, which is being spun off in an IPO (perhaps as soon as October) by Fiat Chrysler Automobiles NV (NYSE:FCAU), is taking a different tack than its main competitors, which are entering new model segments to win customers who may not be interested in their more famous cars.

Volkswagen AG’s (OTCMKT:VLKAY) Porsche unveiled a 4-seat electric sports car in Frankfurt that accelerates faster than its 911 model and charges in just 15 minutes, challenging US producer Tesla Motors Inc. (NASDAQ:TSLA). Volkswagen’s Lamborghini supercar unit will introduce a high-performance SUV in Y 2018 in a bid to more than 2X its sales.

Mr. Felisa declined to comment on his role at the carmaker. People familiar with the matter said in August Chairman Sergio Marchionne, who also runs Fiat Chrysler, may take over the Ferrari brand’s CEO post when Mr. Felisa retires in coming months.

“I refuse to make any forecast on my future at Ferrari, as the last time I made one was in Y 1990, when I joined the company and told my wife I would stay 3 years and then leave, and here I am still.” said Felisa.

Stay tuned…

Paul Ebeling

HeffX-LTN

The post Do Not Expect A SUV Or EV From Ferrari, Ever appeared first on Live Trading News.