Ferrari's 'family' car gets new name, more power

TURIN -- Ferrari is renaming its FF four-seat grand tourer as the GTC4Lusso and adding rear-wheel steering to boost the appeal of a model the brand launched five years ago as a practical ultraluxury sports car aimed at wealthy families.

The GTC4Lusso will debut at the Geneva auto show on March 1 with its new badge, along with a more powerful engine and exterior design tweaks to give it a more streamlined look.

Ferrari has integrated rear-wheel steering into the car's four-wheel drive system to improve high-speed stability and cornering maneuverability.

The GTC4Lusso has the same 6.3-liter V-12 engine as the FF but horsepower has been increased by 30hp to 680hp. Ferrari said the GTC4Lusso’s 2.6 kg/hp weight-to power ratio sets a new record in its category.

The GTC4Lusso has a 335kph maximum speed and accelerates from 0-100 kph (62 mph) in 3.4 seconds. By comparison, the FF hits 100kph in 3.7 seconds.

Ferrari said the car's new name comprises “GTC” for Grand Turismo Coupe, “4” for the number of seats and “Lusso” to underline that it offers the brand's most luxurious trim levels for its road cars.

The GTC4Lusso will go on sale in the second half in Ferrari's home market of Italy priced at 270,000 euros, slightly higher than the FF's 264,000 euros. Sales in the U.S., Ferrari's top market, will begin in the fourth quarter. U.S. pricing has not been disclosed yet.

Like the FF, the GTC4Lusso targets a younger client base who make greater use of their cars, Ferrari said.

The FF went on sale in 2011. It was developed with four-wheel drive, a first for the brand, to improve safety and road holding. The FF is marketed as a "go anywhere" Ferrari that can be used for short or long journeys, and by families with its four seats and a generous luggage compartment that can be expanded to 900 cubic liters from 450 liters.

The GTC4Lusso is part of  Sergio Marchionne's effort to boost Ferrari deliveries to 9,000 cars in 2018 from about 7,600 last year.

But in its pursuit of growth, Ferrari has rejected the idea of expanding with an SUV to appeal to a broader range of buyers, unlike peers Lamborghini and Aston Martin.

"You have to shoot me first" before Ferrari will roll out an SUV, Marchionne, who is chairman of Ferrari and CEO of Fiat Chrysler Automobiles, said on a conference call with analysts last week.

Bloomberg contributed to this report