Ferrari (NYSE:RACE) is racing ahead with the development of its new FUV , the Purosangue, a Supercar-inspired SUV that will go head-to-head with the Lamborghini Urus and Bentley Bentayga.
Dubbed the FUV, or Ferrari Utility Vehicle, by the Maranello Outfit, the Purosangue is expected to be a sleek, high-riding vehicle that the company sees as another lucrative high margin vehicle and revenue stream.
SUVs exploded in popularity just over 10 years ago, and Ferrari insisted that it would never build its own crossover fearing that it may sully its brand.
But, the company’s former CEO Sergio Marchionne (dec.) had a change of mind in Y 2017, saying that an SUV “will probably happen but it will happen in Ferrari’s style”.
Then, in October 2018, Ferrari executives confirmed that an SUV was in the works at the firm’s Capital Markets Day conference.
There is, I believe, a long way to go before the FUV makes its public debut, but we do know Ferrari is ‘working on it.’
The BigQ: What does Purosangue mean?
The Big A: The Italian word purosangue means “thoroughbred”, a nod to the Prancing Horse that adorns the marque’s badge.
Ferrari has yet to announce a definite release date, though the car is not expected to arrive until Y 2021 or later.
There is a rumor that the Purosangue will be unveiled towards the end of Y 2021, before customer deliveries get under way in early Y 2022.
Before his passing in July 2018, Mr. Marchionne told us that the Purosangue would launch “probably by the end of 2019” or “the beginning of 2020”.
It is believed Mr. Marchionne’s successor, Louis Camilleri, postponed the FUV’s launch shortly after taking over as Ferrari’s Chief.
There are just a few spy shots showing Purosangue development cars, but they do not offer a clear look at its design.
But, Motor1 claims to have used “information from insiders” to create a rendering of the Purosangue, giving us a better look at the car.
If the rendering is accurate, the FUV will take inspiration from the design of Ferrari’s 812 Superfast, including the wide grille and sculpted rear wheel arches. The vehicle has 4 doors, which seems to dispel early rumors that the vehicle will be a 2-door model.
More on Ferrari Purosangue FUV news will be published in this column as it comes.
Ferrari is the Aristocrat of the automotive sector.
The iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos.
HeffX-LTN overall technical outlook for RACE is Bullish to Very Bullish, there is light resistance now at 148.17, and strong support at 142.62, all of our Key indicators are Very Bullish in here.
Meanwhile, enjoy the racing at MC this weekend.
Tune in here.
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