An expansion of Ferrari's line-up into utility vehicles would not compromise the Italian carmaker's exclusive status nor its luxury profit margins, chief executive Sergio Marchionne said on Wednesday.
Mr Marchionne has repeatedly ruled out following rivals such as Volkswagen-owned Lamborghini into sport-utility vehicles (SUV). But recent press reports have said the sports car maker is considering developing a four-seat utility vehicle to boost profits, unnerving some investors concerned it could weaken the brand.
After being spun-off from Fiat Chrysler, Ferrari has sought to show it can increase profits without the backing of its parent and lift sales.
But Mr Marchionne said Ferrari was now approaching the limit of the number of cars it can produce from its current range without weakening their exclusive appeal, and needed to look beyond.
Earlier on Wednesday, Ferrari reported a 24 per cent rise in second-quarter adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) and a 14 per cent increase in quarterly sales, both in line with expectations. – Reuters
