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Sergio Marchionne confirms Ferrari SUV but insists no FiatChrysler China deal imminent

Fiat Chrysler CEO Sergio Marchionne confirmed yesterday during a briefing at the North American International Auto show, in Detroit, that Italian Supercar maker Ferrari are to go ahead with an SUV, however it will likely be a limited production run to preserve exclusivity.

“We’re dead serious about this,” Marchionne said of what he referred to as the “FUV” model. “We need to learn how to master this whole new relationship between exclusivity and scarcity of product, then we’re going to balance this desire to grow with a widening of the product portfolio.”

The thought of an SUV from Ferrari has rattled the Tifosi, but with fellow Italian carmaker set to launch the Urus soon and other prestige carmakers, such as Aston Martin and Rolls Royce following suit, it is a market place Ferrari cannot afford to miss out on, with the trend in SUV’s not seeming to wane.

Marchionne went on to dismiss the idea of a merger with China, speaking to reporters, Marchionne said there were “sensitive issues associated with trans-national mergers,” and he did not believe those issues had been thoroughly thought through between the two automakers.

He reiterated that Fiat Chrysler would produce better returns by combining with another automaker, but it hasn’t had any offers from a suitor that meets his criteria, so he’s focusing on an independent strategy for the carmaker.

“It’s incorrect to assume that FCA’s future hinges on doing a deal,” he said.

 

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