Ferrari’s (NYSE:RACE) upcoming SUV will stand out in increasingly crowded segment.
Ferrari’s highly controversial SUV is well on its way to production. The Purosangue will not be the firm’s 1st 4-seater, its history is full 2+2s. But it will be the 1st high-riding model with the Prancing Horse emblem on its nose. Conquering this territory is presenting the brand with unique engineering challenges.
The SUV will offer a height-adjustable suspension, and an available plug-in hybrid powertrain, the gasoline-electric setup will be built around a new, twin-turbocharged V6, but a flagship model with V12 power will likely slot at the very top of the range. Mid-range model might use a V8.
The design brief Ferrari gave engineers and designers was relatively simple: The Purosangue needs to stand out from the other luxurious SUVs on the market. It can’t be a copy of the Lamborghini Urus, the Bentley Bentayga, the Rolls-Royce Cullinan or what Maybach is working on. Michael Leiters, the company’s CTO (chief technical officer), believes his team has nailed it.
“I think we’ve found a concept and a package which is on one side a real SUV, and will convince SUV customers to buy it, but on the other side there’s a huge differentiation of concept to existing SUVs,” he enigmatically said. He stopped short of providing more concrete details, including his definition of a real SUV. We are not expecting the Purosangue to follow a Jeep Wrangler down the Rubicon Trail, or to outpace a WRC car on a rally stage, but it should be capable of light off-roading.
The Ferrari Purosangue is scheduled to make its debut in Y 2022, meaning it might arrive for the Y 2023 model year, and pricing will almost certainly start at $300,000+. It is 1 of 15 new models the firm plans to release by Y 2023 in a bid to fatten its profit margins without diluting its image
Enzo Ferrari’s 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 Neutral to Bearish, overhead resistance is at 160.28 and support at 150.05 all Key indicators are flashing Bearish with a Bullish bias in here. Ferrari finished at 150.96, -1.64 Monday in NY.
Note: Goldman Sachs upgraded Ferrari to ‘buy‘ from ‘neutral ‘calling the stock’s pullback a good “entry point.” “We upgrade Ferrari from Neutral to Buy, offering 15% upside to our new price targets of 182. Our thesis, outlined in Life of Luxury published last month, is fundamentally unchanged post Ferrari’s in-line 2-Q results. We view the stock’s recent pullback (9.0% since July 16) as a good entry point in here.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term investment, and I see it at 200/share in that frame.
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