FERRARI PLANS TO BE REVEALED

Ferrari’s new boss will outline the brand’s plans for the next five years at an event next month – and could divulge further details about the brand’s forthcoming SUV.

Louis Camilleri was appointed CEO of the Italian firm in July, after Sergio Marchionne fell seriously ill. Marchionne died shortly afterwards.

Marchionne had been working on Ferrari’s plan until 2022, with a goal of doubling the company’s earnings to ¤2 billion (£1.7bn). The firm’s growth plans are likely to be centred on the SUV. The car is likely to go into production in 2021 as a rival to the Lamborghini Urus and Rolls-royce Cullinan.

Although Camilleri has said he shares the same ambitions for Ferrari as Marchionne, he also called the earnings target “ambitious” on a recent call with market analysts.