Image credits – carwow.co.uk
It has been a while now that auto fans have waited for Ferrari to launch its first-ever crossover SUV. Ferrari would’ve never thought of ever building an SUV, but the latest trends and sales figures have now compelled them to do so. The tremendous success of Lamborghini Urus, Porsche Cayenne, and Macan, etc., has got them to think again about their future business strategy. To get things into perspective, here are some quick facts and figures about the Sports SUV segment:
“Just don’t let the Prancing Horse people hear you call it an SUV.”Motortrend.com
- According to Autocar India, Lamborghini Urus has been their most successful model. Urus contributed more than 50% of its revenue in the first half of 2021. When compared to the same period in 2020, it has increased by almost 37%.
- Similarly, Porsche Macan also contributed towards sizable sales in the first quarter of 2021.
- Some other noteworthy crossover SUV’s in the segment are as follows:
- Maserati Levante
- Rolls Royce Cullinan
- Bentley Bentagya
- Aston Martin DBX
This new SUV Crossover would be called Purosangue, which stands for ‘pure blood’ in Italian. Its design resembles 2020 Roma and GTC4Lusso in some aspects. Michael Leiters (Ferrari’s Technical Chief) suggested that Purosangue would effectively replace GTC4Lusso and intend to create a whole new segment for Ferrari. During an interview, he said that “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.”
Considering the overall auto market appeal in India, SUV is undoubtedly the way to go forward. Ferrari understands this market due to the successful case study from their Italian rival. Looking at the overall rumored design and growing demand for Ultra-Luxury SUVs, Ferrari’s future seems to be quite promising. Looking at this, Morgan Stanley expects Ferrari to make 1,500 Purosangue SUVs by 2025. As per the market trend, Purosangue might contribute to the sizeable revenue to Ferrari. As per Forbes, Electric cars would further push this revenue by 2030 & 2040.