Ferrari mulling 'utility vehicle' to double profit: sources

Washington

FERRARI is considering adding a roomy four-seat "utility vehicle" as part of a major expansion push beyond its traditional supercar niche in a bid to double profit by 2022, people familiar with the matter said.

The final five-year plan under chief executive officer Sergio Marchionne, who's set to retire in 2021, will target boosting annual deliveries beyond a self-imposed limit of 10,000 cars, which allows the company to operate with less stringent fuel-economy rules, said the people, who asked not to be identified because the matter is private.