JavaScript is off. Please enable to view full site.

Ferrari will expand its lineup of road cars, but not too much

Sunday, August 18, 2019, 19:06 GMT+7
Ferrari will expand its lineup of road cars, but not too much
FCA Chairman John Elkann is seen before an event at the Bocconi University in Milan, Italy May 27, 2019. Photo: Reuters

PEBBLE BEACH, Calif. -- Italian premium sports car maker Ferrari NV will expand sales of easier-driving grand touring cars, but will not try to chase rival Porsche’s annual sales volume, Ferrari Chairman John Elkann told an audience of classic car enthusiasts gathered at this storied golf resort on the Pacific coast.

Elkann also reiterated that Fiat Chrysler Automobiles NV, of which he is chairman, remains open to opportunities to combine with other automakers, but is positioned to remain independent. Fiat Chrysler in May proposed a merger with French automaker Renault SA, but the deal fell apart after the French government intervened and Elkann withdrew the proposed merger.

Fiat Chrysler Chief Executive Mike Manley sent the same message to Renault and other would-be partners earlier this month.

Elkann visited Pebble Beach during the annual Concours d’Elegance, during which wealthy collectors bring some of the world’s rarest vintage automobiles to be admired — and sold — and premium manufacturers showcase exotic new models.

Ferrari is best known for flashy, high performance sports cars. Among fans of vintage Ferraris, more understated GT, or grand touring, cars from the 1960s, some with seating for four people, are among the most popular models on auction blocks and at enthusiast events. GT cars were designed to be comfortable on longer road trips.

Elkann hinted Ferrari will unveil a new GT type car in November. Ferrari has said previously that about 40% of its total sales could come from GT cars by 2022, up from 32% now.

Ferrari has outlined plans to expand revenue to 5 billion euros ($5.54 billion) by 2022 from 3.4 billion euros in 2017. The company has said it plans to add a model called the Purosangue to compete with a growing stable of sport utility vehicles wearing premium sports car brands, such as the Lamborghini Urus.

Rival Porsche AG, a unit of Volkswagen AG, has expanded its sales to more than 250,000 sports cars and sport utility vehicles annually. Elkann said Ferrari is not aiming for Porsche’s level of sales.

($1 = 0.9018 euros)

Reuters

More

Read more

Singapore activists challenge gay sex ban in court after India ruling

Previous efforts to repeal the law in 2014 failed, but activists have been emboldened by the landmark ruling in India in September last year, by polls suggesting attitudes toward homosexuals are changing, and a perceived softening in tone from some establishment figures

1 day ago
;

Photos

VIDEOS

Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Young maple trees given better protection as Hanoi enters rainy season

The trees are currently growing well, with green leaves and healthy branches.

Hunting skinks for food in southern Vietnam

Skink meat is known to be soft, tasty, and highly nutritious.

Vietnamese-made app allows people to grow real veggies via smartphone

Nguyen Thi Duyen, a young engineer in Hanoi, developed the app and its related services to help busy people create their own veggie gardens.

Chinese tourists hit by Vietnamese over dine and dash

Four Chinese were reportedly injured, with one having a broken arm.

Latest news