Ferrari SUV named Project Purosangue

The world's most potent SUV development project now has a codename: Ferrari Purosangue (Italian for thoroughbred).

Pronounced in Italian as puro-san-ger, the title doesn't roll off the tongue or reverberate in the mind like Portofino, Berlinetta or Scaglietti, but if nothing else it won't be easily forgotten – just think cheese sanger.

The Ferrari Purosangue moniker was confirmed for the SUV project overnight at the Italian car-maker's Capital Markets Day, where Ferrari presented its new five-year business plan to investors.

And although the production model could wear an entirely new name, consider that the Rolls-Royce SUV project’s Cullinan codename was so popular with customers and stakeholders that it became the official name.

Officially due to gallop into showrooms by 2020, the Prancing Horse brand's high-performance luxury SUV will be a headline act in Ferrari's bold new plan to launch 15 new models – as well as hybrid, plug-in hybrid and V6 powertrains – by 2022.

The tradition-breaking strategy was outlined by new company boss Louis Camilleri – a former CEO of cigarette maker Philip Morris, who was promoted to the position just prior to Sergio Marchionne’s unexpected death earlier this year.

Apart from announcing Ferrari’s electrification plans and its first crossover, Camilleri hosted the launch of the stunning new Monza limited-edition supercar and forecast earnings before interest, tax, depreciation and amortisation (EBITDA) of between €1.8 and €2.0 billion ($A2.9-$3.2b) by 2022.

Ferrari will base its new models on two new modular chassis architectures: front-engined for a new GT model range offering two and four seats and plug-in hybrid drivetrains, and mid-engined for a 488 successor with Formula 1-inspired hybrid tech and an all-new range-topping hypercar due after 2022.

Ferrari expects its hybridised supercar range to account for half of all sales by 2021 and its GT models to comprise 40 per cent by the same time.

Far from suggesting the Purosangue will be its top-seller, Ferrari says its all-new Italian super-crosser will bring new customers to the brand by delivering "best performance and fun-to-drive in the segment" and "revolutionary accessibility and state-of-the-art comfort on-board".

Apart from confirming it is also working on a all-new V6 engine family and new dual-clutch transmission, Ferrari said its existing V12 will receive "continuous developments" and its V8 will gain "technological step-ups”.

Like SUV models from Porsche, Bentley, Lamborghini and -- soon -- Rolls-Royce and Aston Martin, the new Ferrari Purosangue will be aimed at well-heeled customers who want the practicality of an SUV combined with the performance level and badge cachet of a Ferrari.

While McLaren has fervently denied it would sully its reputation as a pure sports car brand by developing a troop-carrying crossover, Ferrari has clearly ignored critics who claim an SUV will dilute the Italian brand's sports car pedigree.

That’s because of the massive profits expected to come from breaking Ferrari’s own self-imposed production limit and from developing a class-leading model in the world’s fastest growing auto segment.

To that end, the Ferrari Purosangue will almost certainly be a petrol-electric plug-in hybrid with eight- or 12-cylinder power and its closest rival will be the Lamborgini Urus SUV, powered by a 478kW/850Nm twin-turbo 4.0-litre V8 borrowed from the Audi RS 6.

It's not clear exactly which platform the Purosangue will be based on, but it’s possible Ferrari could leverage technology or even platform architecture from sister companies Maserati or Alfa Romeo to reduce costs.

Whatever the case, it will need to pump out at least 500kW to snaffle bragging rights from the Urus.

Also expect several new features and technologies on the Ferrari SUV, as it will need unique selling points to do battle in the ever-increasing high-end SUV market.

Camilleri called the new product strategy ambitious but "do-able" and the new Ferrari SUV will likely cost a lot more than the $390,000 Lamborghini Urus SUV.

During the Ferrari strategy meeting, the Italian companies chief marketing officer, Enrico Galliera, confirmed that all newly-developed Ferrari vehicles will come with "significant" hikes over the current average price of a Fezza.

It's unlikely the Ferrari Purosangue will cost as much as the $685,000 Rolls-Royce Cullinan, but its price may fall somewhere between the Lambo and Rolls SUV at around half-a-million dollars.

Delivering all-wheel drive and wagon-like practicality for the first time in a Ferrari, the Purosangue's biggest markets are likely to be North America, China and the Middle-East, but Australian demand for the new model is also expected to be strong.

Stay tuned for more details on the Ferrari Purosangue as they emerge. Just don’t expect a Ferrari pick-up… yet.