Ferrari will increase its lineup of highway vehicles, however not an excessive amount of

FILE PHOTO: FCA Chairman John Elkann is seen earlier than an occasion on the Bocconi College in Milan, Italy Could 27, 2019. REUTERS/Alessandro Garofalo

PEBBLE BEACH, Calif. (Reuters) – Italian premium sports activities automotive maker Ferrari NV (RACE.MI) will increase gross sales of easier-driving grand touring vehicles, however is not going to attempt to chase rival Porsche’s annual gross sales quantity, Ferrari Chairman John Elkann informed an viewers of basic automotive fans gathered at this storied golf resort on the Pacific coast.

Elkann additionally reiterated that Fiat Chrysler Vehicles NV(FCHA.MI), of which he’s chairman, stays open to alternatives to mix with different automakers, however is positioned to stay impartial. Fiat Chrysler in Could proposed a merger with French automaker Renault SA, however the deal fell aside after the French authorities intervened and Elkann withdrew the proposed merger.

Fiat Chrysler Chief Government Mike Manley despatched the identical message to Renault and different would-be companions earlier this month.

Elkann visited Pebble Seashore in the course of the annual Concours d’Magnificence, throughout which rich collectors carry a few of the world’s rarest classic vehicles to be admired — and offered — and premium producers showcase unique new fashions.

Ferrari is finest identified for flashy, excessive efficiency sports activities vehicles. Amongst followers of classic Ferraris, extra understated GT, or grand touring, vehicles from the 1960s, some with seating for 4 individuals, are among the many hottest fashions on public sale blocks and at fanatic occasions. GT vehicles have been designed to be comfy on longer highway journeys.

Elkann hinted Ferrari will unveil a brand new GT kind automotive in November. Ferrari has mentioned beforehand that about 40% of its whole gross sales may come from GT vehicles by 2022, up from 32% now.

Ferrari has outlined plans to increase income to five billion euros ($5.54 billion) by 2022 from 3.four billion euros in 2017. The corporate has mentioned it plans so as to add a mannequin known as the Purosangue to compete with a rising steady of sport utility automobiles sporting premium sports activities automotive manufacturers, such because the Lamborghini Urus.

Rival Porsche AG[PSCH.UL] , a unit of Volkswagen AG(VOWG_p.DE), has expanded its gross sales to greater than 250,000 sports activities vehicles and sport utility automobiles yearly. Elkann mentioned Ferrari is just not aiming for Porsche’s degree of gross sales.

($1 = 0.9018 euros)

Reporting By Joe White; modifying by Diane Craft

Author: Maxwell C.

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