One of the most anticipated cars of the year has finally launched: the first SUV in Ferrari history. Although at Maranello they claim the Purosangue is in a class of its own, the public can now get to know the latest product from Ferrari after years of speculation. The Purosangue is one of the few vehicles that the press and the financial world have noticed. It means a lot to Ferrari.
Putting aside the technical specifications and design of the Purosangue, this vehicle places Ferrari in a completely different sector of the market. While the brand doesn’t think of it as an SUV, it’s clear that this new product is Ferrari’s answer to the SUV boom that has spread to the top luxury segment. Rolls-Royce, Bentley, Aston Martin and Lamborghini are all part of it.
F-SUV . segment
I call it the luxury F-SUV segment and last year found more than 14,200 new customers, namely those who bought Bentley Bentayga, Lamborghini Urus, Aston Martin DBX and Rolls-Royce Cullinan. Their combined sales are up 40 percent from 2020 and are expected to grow even more in 2022. The four models, with different prices and positions, have seen double-digit increases, with Aston Martin up more than 400 percent.
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The super SUV is mostly sold in the US and Canada, where 31 percent of global volume is in 2021. Demand has increased 46 percent to over 4,400 units. The second largest market for this segment is China, with more than 3,700 units sold, up 23 percent.
Europe is third with 3,622 units, up 33 percent over 2020. Among these markets, the UK is the leader with 40 percent of the European total, followed by Germany with 26 percent, Switzerland with 6.3 percent, Italy at 5.1 percent, and France with 3.0 percent.
In terms of market penetration in SUV sales, Monaco leads as it accounts for 4.8 percent of the volume. Singapore followed at 0.8 percent, with San Marino next at 0.5 percent, Andorra at 0.4 percent, and Qatar at 0.3 percent.
Based on the official information and photos provided by Ferrari, the Purosangue seems to be the right product with high potential. First of all, positioning it as another four-seater sports car aims to align the new vehicle with the rest of its lineup and not as a completely different Ferrari.
And unlike its closest rival, Ferrari has decided to focus more on performance than on the concept of versatility. There’s more “Sport” than “Utility” in this SUV, especially with the limited interior space, four seats instead of five, the traditional Ferrari dashboard and rear-biased weight distribution. In fact, there are more similarities between Purosangue and other Prancing Horse lines than you might think.
That’s why I believe this new Ferrari will forcibly enter the segment and become a new player in the sector.
The author of the article, Felipe Munoz, is JATO dynamics Automotive Industry Specialist.