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August 18, 2019 04:44 AM

Ferrari will expand its lineup of road cars, but not too much

Joseph White
Reuters
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    Ferrari shunned electrification until it launched the SF90 Stradale plug-in hybrid in 2019.

    Ferrari's latest model is the 986-hp SF90 Stradale, the automaker's first production plug-in hybrid.

    PEBBLE BEACH, California -- Ferrari will expand sales of easier-driving grand touring cars, but will not try to chase rival Porsche's annual sales volume, Ferrari Chairman John Elkann said.

    Elkann was speaking to an audience of classic car enthusiasts gathered at this storied golf resort on the Pacific coast.

    Elkann visited Pebble Beach during the annual Concours d'Elegance, during which wealthy collectors bring some of the world's rarest vintage automobiles to be admired -- and sold -- and premium manufacturers showcase exotic new models.

    Ferrari is best known for flashy, high performance sports cars.

    Among fans of vintage Ferraris, grand touring cars from the 1960s, some with seating for four people, are among the most popular models on auction blocks and at enthusiast events. GT cars were designed to be comfortable on longer road trips.

    Elkann hinted Ferrari will unveil a new GT type car in November.

    Ferrari has said previously that about 40 percent of its total sales could come from GT cars by 2022, up from 32 percent now.

    Ferrari has outlined plans to expand revenue to 5 billion euros ($5.54 billion) by 2022 from 3.4 billion euros in 2017.

    The company has said it plans to add a model called the Purosangue to compete with a growing stable of from premium sports car brands, such as the Lamborghini Urus.

    Rival Porsche, a unit of Volkswagen Group, has expanded its sales to more than 250,000 sports cars and SUVs annually. Elkann said Ferrari is not aiming for Porsche's level of sales.

    Elkann says FCA remains open to opportunities to combine with other automakers.

    Elkann also reiterated that Fiat Chrysler Automobiles, of which he is chairman, remains open to opportunities to combine with other automakers, but is positioned to remain independent.

    Fiat Chrysler in May proposed a merger with Renault, but the deal fell apart after the French government, Renault's biggest shareholder, intervened and Elkann withdrew the proposed merger.

    Fiat Chrysler CEO Mike Manley sent the same message to Renault and other would-be partners earlier this month.

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