Ferrari Will Keep The Purosangue SUV Super Exclusive

Industry News / 9 Comments

This will not be a high-volume car.

Ferrari recently outlined its business plan for the next eight years as it builds towards becoming carbon neutral by 2030.

We expected the Purosangue to play a significant role in the manufacturer's future, but Ferrari is not building its first SUV to turn a bigger profit. The Purosangue is expected to account for only 20% of Ferrari sales during its lifecycle, a tiny percentage compared to other super SUVs.

In 2021, Lamborghini sold 8,405 vehicles, and 5,021 were Lamborghini Urus models. Over the same period, Porsche delivered 70,025 cars, 42,015 of which were Cayennes.

The high-end SUV segment is where the money is at. The more pertinent question is whether Ferrari actually needs the influx of cash.

Front View Ferrari
Rear View Ferrari
Wheel Ferrari

As it turns out, the Purosangue was not built for a profit. In an interview with Automotive News Europe, Ferrari's marketing chief, Enrico Galliera, confirmed the 20% sales figure. "Demand is going to be a problem for the company, albeit a positive one," said Galliera.

Ferrari showcased the Purosangue to customers last week, and according to Galliera, "the reaction was overwhelming." The majority of Ferrari's most loyal customers want to add the latest model to their collection. Yet, Ferrari made it clear that it's not going for the Porsche Cayenne effect.

"We don't want to double our volumes," said Ferrari CEO Benedetto Vigna.

Grill Ferrari
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According to Galliera, the Purosangue will "enhance the sports car offering in the Ferrari range...Customers who have tried it agreed that it is a sports car," concluded Galliera.

This leads us to believe Purosangue is a customer-driven car, not an exercise in increasing profit. The research suggests that Ferrari currently makes between $90,000 to $110,000 net profit per car sold. That's a nice increase from 2018 when the profit was $80,000 per car. In 2021, Ferrari sold 11,155 vehicles, easily outselling Lamborghini even without an SUV in the range.

Ferrari isn't in any financial trouble, and it's in the Italian manufacturer's interest to keep their cars exclusive. It is indeed a completely different business model than the Cayenne, which was built to save Porsche from going under.

Source Credits: Automotive News Europe

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