When Enzo Ferrari launched his iconic Italian luxury carmaker in Y 1949, he never thought that his sports cars will have an SUV or Shooting Brake variant.
As recently as Y 2016, former Ferrari (NYSE:RACE) Boss Sergio Marchionne had said, “You have to shoot me 1st.” But the world has moved beyond those men’s times. And the current global trend demands more SUVs from all kind of carmakers, from Ferrari it will be a thoroughbred high speed FUV.
Just after CEO Marchionne untimely death Ferrari decided to develop an SUV, RR, Bentley and Lamborghini have all 3 put theirs in the showrooms, but then again they are not Ferrari.
So, in Y 2021 Ferrari, barring a long term factory shutdown due to the coronavirus, will debut the Purosangue, thoroughbred in English which will be a powerful hybrid crossover with the style of a Gran Turismo.
This model will have 5 doors, 4 seats in 2+2 configuration and front-center engine, and it is believed that it will be developed by the generational change of the Ferrari FF and GTC4Lusso, perhaps with the aesthetic features of the Lusso, but with a higher body configuration.
We do not know yet, but the spies are everywhere and when I know it will be shown in this column quickly.
Louis Camilleri, the CEO of Ferrari, in the past emphasised that this new Ferrari will not be an SUV, but a 5-door model with an exterior design inspired by the recent GT coupes. We wait, We see…
As for the power, there will be a hybrid version with an 8 cylinder turbo putting out close 700 hp. That would mean the Ferrari Purosangue FUV out due the Lamborghini offering from Volkswagen.
The price of the Ferrari Purosangue is likely to start from EUR 300,000 to 500,000.
Ferrari finished at 139.86, or +2.86 Friday in NY, and shares were raised to Buy from Hold at HSBC.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I have called it at it at 200+/share long term, adjusting it to 200/share short term (after the virus) and siding with BAML to 230 long term for now.
Have a healthy weekend, stay home