In recent reports, Chief Executive Office of Ferrari Sergio Marchionne has confirmed the plan to produce its first ever sport utility vehicle model. Marchionne also tamped down the of the separation rumor of Jeep and Fiat Chrysler Automobiles NV.
Ferrari will take 30 months to make a decision in terms of the production. This will be limited to sustain exclusivity, Marchionne told reports. The SUV would “probably happen”, the CEO states.
“We’re dead serious about this,” Marchionne stated to as what he denoted to as the “FUV” prototype. “We need to learn how to master this whole new relationship between exclusivity and scarcity of product, and then we’re going to balance this desire to grow with a widening of the product portfolio.”
Ferrari is most known for participating in F1 Races.
As mentioned, Marchionned noted that the Fiat Chrysler won’t be selling Jeep any time soon as a distinct unit. The company also refused the thought of attaining an agreement with Chinese competitor Great Wall Motor Co.
Marchionne has boosted the worth of Fiat Chrysler Exor NV – the top investor and other shareholders. It will be done by spending profoundly on a worldwide development of the Jeep SUV trademark. It is estimated that the industry sales of the profitable vehicle category will climb9.4 million components globally
The CEO has increased the value of Fiat Chrysler for top shareholder Exor NV and other investors by spinning off units and spending heavily on a global expansion of the Jeep SUV brand. from 2017 to 2024, , industry sales of the profitable vehicle type will probably increase by 9.4 million units worldwide which will be responsible for the two thirds of the expansion of the auto industry.
Marchionne added the a partnership with Great Wall wouldn’t make any sense for now, for the sole reason that the two businesses have no market correspondence and wouldn’t attain better scale together. He further restated that the Fiat Chrysler would create better revenues by coalescing with another automobile giant. So far, no company has met his standards. For now, Marchionne will be concentrating on a self-governing strategy for the automobile brand.
“It’s incorrect to assume that FCA’s future hinges on doing a deal,” Marchionne told reports.
Upcoming Third Quarter Results
In other news, Ferrari N.V. has recently announced that the auto-giant will be posting its financial results for the third quarter of 2017 on Thursday of November 2, 2017.
At 3:00 p.m. GMT / 4:00 p.m. CET / 11:00 a.m. EDT, Ferrari will hold a live audio webcast and conference call of the 2017 Q3 results on the said date.
Ferrari has been seeing performing bullishly on its recent trades. Despite having a small amount of bulls, the car company somehow added 0.73% from its pre-market performance of -0.54%. At its close of 116.52, the company may continue trending upwards if such performance continues in its coming trades.
Its Relative Strength Index was last seen at 62.68 from its previous performance of 58.82. If it could maintain such performance, it may perform beyond the 70’s region which would make it overbought.
Lastly, its Coppock Curve was able to remain on the positive region of the indicator. Since the beginning of the month, the gauge was able to continue its uptrend towards the 4.82 which would indicate a buy for the car company.
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