Marchionne on Ferrari SUV: 'You have to shoot me first'by Justin King
The company has warned of waning growth, sending shares plummeting to below IPO pricing.
Ferrari chairman Sergio Marchionne has voice vehement opposition to the thought of an SUV adorned with the Prancing Horse marque.
As the company warns of waning growth following its spinoff from former parent Fiat Chrysler Automobiles, the executive has flatly rejected following Lamborghini and Bentley into the fast-growing SUV segment.
"You have to shoot me first," he said, as quoted by .
Notably, Marchionne in 2014 replaced long-serving chairman Luca di Montezemolo following a over the brand's growth potential. The veteran wanted to keep annual shipments capped at just 7,000 units, however Marchionne argued that production could hit 9,000 units without threatening exclusivity.
After the Italian automaker split from FCA, the company suggested there would be even more room for growth. Marchionne suggested Ferrari's founder "had a clear view that we produce one car less than the market demands," a number the current chairman views as .
The predictions may have been overly optimistic, at least in the near term, as Ferrari now expects its growth rate to fall from six percent in 2015 to three precent in 2016. If the forecast proves accurate, the brand will sell approximately 7,900 vehicles this year. If the growth rate is sustained at three percent for the following four years, the company could fall slightly short of its 9,000-unit target by the end of the decade.