Ferrari will expand its line-up of road cars, but not by much

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

19.8.2019

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

Italian premium sports carmaker Ferrari will expand sales of easier-driving grand touring cars, but will not try to chase rival Porsche's annual sales volume.

Employees arrive at the Ferrari SpA headquarters and automobile plant in Maranello, Italy. Image: Alessia Pierdomenico/Bloomberg via Getty Images Italian premium sports car maker Ferrari will expand sales of easier-driving grand touring cars, but will not try to chase rival Porsche's annual sales volume, Ferrari chairperson John Elkann told classic car enthusiasts at the Concours d'Elegance in California at the weekend. Elkann also reiterated that Fiat Chrysler Automobiles, of which he is chairperson, remains open to opportunities to combine with other automakers, but is positioned to remain independent. In May, Fiat Chrysler proposed a merger with French automaker Renault, but the deal fell apart after the French government intervened and Elkann withdrew the proposed merger. Fiat Chrysler chief executive Mike Manley sent the same message to Renault and other would-be partners earlier this month. Elkann visited Pebble Beach during the annual Concours d'Elegance, where 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 Ferrari models, more understated GT, or 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 that Ferrari will unveil a new GT-type car in November. Ferrari has said previously that about 40% of its total sales could come from GT cars by 2022, up from 32% now. Ferrari has outlined plans to expand revenue to €5bn (roughly R 84bn ) by 2022 from €3.4bn (roughly R 57bn) in 2017. The company has said it plans to add a model called the Purosangue to compete with a growing stable of sport utility vehicles wearing premium sports car brands, such as the Lamborghini Urus. Rival Porsche AG, a unit of Volkswagen AG, has expanded its sales to more than 250,000 sports cars and sport utility vehicles annually. Elkann said Ferrari is not aiming for Porsche's level of sales. MORE Read more: Times LIVE

Argentina coach Ledesma doubts southern hemisphere teams will all make World Cup semisNorthern teams have upped their game since last Rugby World Cup, says Argentina coach Mario Ledesma

Argentina coach Ledesma doubts southern hemisphere teams will all make World Cup semisNorthern teams have upped their game since last Rugby World Cup, says Argentina coach Mario Ledesma

Traffic information employees unpaid for eight monthsAbout 66 former employees of Tasima (Pty) Ltd – a company contracted by the Dep of Transport’s Road Traffic Management Corporation – have not been paid salaries since December 2018. Tasima Employees still unpaid yet again

Is the Aarto Bill a law for safe roads, or making money?SA's controversial Administrative Adjudication of Road Traffic Offences (Aarto) Bill and its stinging demerit system - signed into law by President Cyril Ramaphosa this week - is the beginning of stringent road laws.

Suzuki Swift gets a spec boost with new GLX model | IOL MotoringA high spec GLX model has joined the Suzuki Swift range in South Africa. Here’s what you get for your money. IOLMotoring

Too many suits spoil the brotherhood and sisterhoodBefore Mitchell Johnson's first Ashes Test, in Cardiff in 2009, Kevin bloody Pietersen had some fun deliberately hitting tennis balls onto the Aussie bowlers' run-ups.



Soweto residents want free electricity

DA tables new motion into fitness of Public Protector Busisiwe Mkhwebane | IOL News

Soweto residents adamant they will not pay for electricity - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

R5m ransom demanded after Joburg Grade 8 pupil kidnapped at school | IOL News

No young person should lose their life during initiation – Ramaphosa

You are creating unemployment in KZN, Premier slams SAA business rescue practitioners | IOL News

Cannabis is king in Gauteng: Makhura says the industry will create jobs

Write Comment

Thank you for your comment.
Please try again later.

Latest News

News

19 August 2019, Monday News

Previous news

WATCH LIVE | State capture: Former NPA head Mxolisi Nxasana testifies

Next news

Injured Springboks likely to miss the World Cup
Mshengu confident he will be vindicated over R100K car hire Phones belonging to Ayanda Dlodlo and other SSA officials found to be cloned Somhale wedding takes the crown as Showmax’s most watched show ever on its premiere day Kidnapped Queens High School learner found - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader. What we can learn from apartheid 26 years later and government is still failing our children Eskom announces increased probability of load shedding on Thursday Let the smarter German stand up: Mosimane on the Soweto Derby - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader. ANC, Sanco in Soweto serve Eskom with demands Donovan, Jason Goliath to appear in film with Vin Diesel Car theft at UCT rising, 10 stolen so far this year Education Department suspends use of pilchards at schools
Soweto residents want free electricity DA tables new motion into fitness of Public Protector Busisiwe Mkhwebane | IOL News Soweto residents adamant they will not pay for electricity - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader. R5m ransom demanded after Joburg Grade 8 pupil kidnapped at school | IOL News No young person should lose their life during initiation – Ramaphosa You are creating unemployment in KZN, Premier slams SAA business rescue practitioners | IOL News Cannabis is king in Gauteng: Makhura says the industry will create jobs Missing Queens High School pupil found at Maponya Mall SA’s most expensive mental health hospital cost R2bn but is half-empty Bosasa scandal: Magistrate Desmond Nair provisionally suspended - Ronald Lamola 'Students need the help': Duduzane Zuma's fees pledge welcomed | IOL News Bolt driver shot dead in Langa | Cape Times