Ferrari’s CEO wants to make two changes that will change the luxury carmaker forever

Ferrari is the biggest feather in chief executive officer Sergio Marchionne’s cap.

After an initial public offering in 2015, the company’s stock is up 100 per cent in 2017.

But that doesn’t mean Marchionne isn’t trying to destroy the legendary Italian carmaker.

After Ferrari reported third-quarter earnings on Thursday, Marchionne took questions from analysts and dived into two big ones: will Ferrari build an SUV? And will Ferrari leave Formula One motor racing?

The answer, astonishingly, to both is yes. Well, yes maybe. It depends.

Anticipation for a Ferrari SUV has been building for months – Marchionne as much as said the company was ready to make the move with a unique “Ferrari Utility Vehicle” or FUV.

Marchionne confirmed that the company has been testing a design concept, has shared it with potential customers and the Ferrari board, and is ready to greenlight the project.

Asked if it was controversial, Marchionne quickly said: “No – because it’s a Ferrari.”