Ferrari to drive profits with four-seat ‘utility vehicle’

Ferrari is considering adding a roomy four-seat “utility vehicle” as part of a major expansion push beyond its traditional supercar niche in a bid to double profit by 2022, sources said.

The final five-year plan under chief executive Sergio Marchionne, who is set to retire in 2021, will target boosting annual deliveries beyond a self-imposed limit of 10,000 cars, which allows the company to operate with less-stringent fuel-economy rules.

Under the plan, which is set to be unveiled in early 2018 and could expose the carmaker to stricter environmental regulations, Ferrari will also build more hybrid models to improve its vehicles’ efficiency and woo new wealthy buyers, the sources said.