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Ferrari head Sergio Marchionne has suggested that the company will be working on a utilitarian vehicle that will happen "Ferrari style".

Sergio Marchionne, Ferrari boss, that it’s currently looking at the feasibility of an SUV, but it will only decide in 2020.

He said, "We’re dead serious about this." However, before a decision is made, the brand must "learn how to master this whole new relationship between exclusivity and scarcity of product, then we’re going to balance this desire to grow with a widening of the product portfolio.”

He also recently stated that the brand is looking to "reinvent the concept of a vehicle that has some utilitarian features," indicating recent rumours of a Ferrari SUV could be true.

Marchionne stated at Ferrari's 2017 Q2 press conference, “I think that if we allow the Ferrari engineers to reinvent the concept of a vehicle that has some utilitarian features, I think the answer is, it will probably happen, but it will happen Ferrari style. And Ferrari has been known historically for being able to redefine and define automotive segments. But I don’t want it to be a UV – I want it to be what Ferrari thinks is appropriate. But no decision has been made yet.”

But, a Ferrari spokesman also said, "With reference to recent speculation in the international press, Ferrari will not be launching an SUV."

The company’s commercial boss Enrico Galliera said, “We are not producing an SUV, because an SUV is not a sports car – it can be fast, but it’s not a sports car. We are not producing a four-door because, while a four-door can be fast, it’s not a sports car. Ferrari has to remain consistent, doing what we know to do, which is delivering cars that are able to deliver emotion. Sports cars.”

While Ferrari isn’t revealing any significant details, the carmaker will certainly need a more practical model, given the trend for high-riding vehicles and the popularity of ultra-luxury SUVs worldwide, and particularly looking at the ever growing Chinese market.

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