The GTC4Lusso which is not an SUV | Photo credit: Ferrari

What difficulties will the automobile makers most likely face today if, for some reason, they do not include a Sport Utility Vehicle (SUV) in its existing portfolio?

Sergio Marchionne, CEO of Ferrari Automobiles said in August that it could build a Sport Utility Vehicle (SUV). Not until of late, Marchionne confirmed at the New York Stock Exchange that the SUV is actually happening.

“It’s an SUV. A Ferrari SUV. Own it.” – as told by CEO Sergio Marchionne to Bloomberg at the New York Stock Exchange on Monday

The major automaker will be looking at around 30 months “to decide on production, which will be limited to preserve exclusivity,” Marchionne told Bloomberg on Monday.

Prior to this, in February 2016, when he commented that you would have to “shoot [him] first” before Ferrari made one, according to the source.

Today, CEO Sergio Marchionne could not emphasise just how “serious” he is about the SUV. “We need to 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 added.