Elkann also reiterated that Fiat Chrysler Automobiles NV<FCHA.MI>,
of which he is chairman, remains open to opportunities to
combine with other automakers, but is positioned to remain
independent. Fiat Chrysler in May proposed a merger with French
automaker Renault SA, but the deal fell apart after the French
government intervened and Elkann withdrew the proposed merger.
Fiat Chrysler Chief Executive Mike Manley sent the same message
to Renault and other would-be partners earlier this month.
Elkann visited Pebble Beach during the annual Concours
d'Elegance, during which wealthy collectors bring some of the
world's rarest vintage automobiles to be admired -- and sold --
and premium manufacturers showcase exotic new models.
Ferrari is best known for flashy, high performance sports cars.
Among fans of vintage Ferraris, more understated GT, or grand
touring, cars from the 1960s, some with seating for four people,
are among the most popular models on auction blocks and at
enthusiast events. GT cars were designed to be comfortable on
longer road trips.
Elkann hinted Ferrari will unveil a new GT type car in November.
Ferrari has said previously that about 40% of its total sales
could come from GT cars by 2022, up from 32% now.
Ferrari has outlined plans to expand revenue to 5 billion euros
($5.54 billion) by 2022 from 3.4 billion euros in 2017. The
company has said it plans to add a model called the Purosangue
to compete with a growing stable of sport utility vehicles
wearing premium sports car brands, such as the Lamborghini Urus.
Rival Porsche AG, a unit of Volkswagen AG<VOWG_p.DE>, has
expanded its sales to more than 250,000 sports cars and sport
utility vehicles annually. Elkann said Ferrari is not aiming for
Porsche's level of sales.
($1 = 0.9018 euros)
(Reporting By Joe White; editing by Diane Craft)
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