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$400,000 Petrol Powered SUV From Ferrari Designed For The Super Rich

$400,000 Petrol Powered SUV From Ferrari Designed For The Super Rich
The 390,000 euro ($397,000) 12-cylinder Purosangue, aimed at super-rich drivers who aren't ready to go all-electric, was unveiled by Ferrari on Tuesday.
Despite being late to the SUV market, the Italian brand known for its prancing horse logo is confident that the luxury sports car-style of the Purosangue - or Thoroughbred - will set the model apart.
"Since we announced it was a V12 (in May), the interest for the car exploded," Chief Marketing and Commercial Officer Enrico Galliera told reporters at Ferrari headquarters in Maranello, adding the company had been inundated with pre-orders from customers who have not even seen it. He did not give numbers.
Despite its size and weight, Ferrari CEO Benedetto Vigna describes the four-door, four-seat Purosangue, which has a top speed of more than 310 kph (190 mph), as a versatile sports car rather than an SUV.
It exemplifies a problem that many established automakers are facing. Investors have made Tesla the most valuable company in the industry, and policymakers around the world are setting deadlines to phase out combustion vehicles.
But a huge number of customers still want vehicles powered by petrol, and are ready to Shell out premium prices for them.
Ferrari included electrification in its business plan in June, but it is moving slowly toward its goal.
Executives declined to comment on future plug-in or battery-electric versions of the Purosangue.
Ferrari is showing the Purosangue to 2,000 of its top clients over the course of several days, but has already received "many more" orders, according to Galliera.
The vehicle will be among the most expensive SUVs available. Only the Rolls-Royce Cullinan SUV is available at comparable prices.
Ferrari has pledged to keep Purosangue sales below 20per cent of total group shipments over the car's life-cycle, which is expected to be four to five years, in order to maintain exclusivity.
That translates to a total production of just over 11,000 vehicles, a departure from Lamborghini and Porsche, both of which are part of the Volkswagen group and sold around 60per cent of their vehicles last year.
Deliveries from Europe will begin in the second quarter of 2023, with waiting lists expected to grow in the coming years.
The Purosangue took four years to develop after Ferrari announced in 2018 that it would build an SUV. Previously, the technology was not available to give a car weighing more than two tonnes a top sports performance, according to Galliera.
He went on to say that the "game changer" was an exclusive, electric-powered active suspension system Ferrari developed with Canadian partner Multimatic Inc.
Other notable features include new architecture that improves the car's balance, independent four-wheel steering, and a 6.5-litre, 725-horsepower engine.
Ferrari, which already offers four hybrid models, has promised 15 new models between next year and 2026, including its first fully-electric vehicle, which is expected in 2025.

Christopher J. Mitchell

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