Ferrari reportedly disclosed the name of its upcoming crossover to a group of investors in Maranello, Italy Tuesday. According to Bloomberg, CEO Louis Camilleri told those present at the meeting that the vehicle will be called “Purosangue,” meaning “thoroughbred” in Italian. The Purosangue is said to arrive by 2020, though it’s unclear whether this means a reveal or production and delivery.
Statements from the late Ferrari CEO Sergio Marchionne promised that the Purosangue would be the fastest of the super crossovers, a market inhabited by only a select few vehicles at present. Of note are the Lamborghini Urus, Rolls-Royce Cullinan, and Bentley Bentayga.
“I abhor hearing SUV in the same sentence as Ferrari,” Camilleri reportedly stated at the investor meeting. “As a diehard Ferrarista, I was a little skeptical when the concept was first voiced at the board. Having now seen the wonderful design and the extraordinary features I am a hugely enthusiastic supporter.”
In addition, Ferrari expects 60 percent of its production to be comprised of hybrid vehicles by the end of 2021 which suggests the Purosangue could possibly be a hybrid. Either it or a significant portion of the 15 new models Ferrari intends to introduce from 2019 to 2022—some of which will be powered by smaller new V-6 engines—will make up this 60 percent figure.
Ferrari hopes to ride the Purosangue and its other new models to 2 billion euros ($2.3 billion) in annual earnings by 2023, a timeline more conservative than Marchionne’s projection of achieving the goal by end of 2021. Extra models don’t mean a migration downmarket, however, sales head Enrico Galliiera also reportedly expects average sticker price for its products to increase “significantly.”
Also revealed at the meeting were a pair of limited-edition models based on the 812 Superfast, as rumored in late August.
Source: Read Full Article