There’s an old adage in the motoring world: if you stand still, you go backwards. That rule has been true since the early days of the automotive industry, and remains a key motivation for manufacturers today. After all, while a particular breed of vehicle can prove immensely popular at one point in time, such as the sedan was during the latter stages of the 20th century, that doesn’t mean it’ll remain so forever.
Indeed, the sedan has been swiftly abandoned by most in favor of the SUV. As a result, every carmaker worth its salt has scrambled to switch the majority, if not all, of its range towards the high-riding machines to maintain its juicy profit margins. From BMW to Toyota, and even the likes of Lamborghini, Porsche, and Rolls-Royce, not having some form of SUV available was like flushing dollar bills straight down the toilet. Even the great Ferrari has found itself powerless to resist the pull of the latest automotive trend, despite the risks this poses to its image.
Ferrari Entered The SUV Arena With The Purosangue
The Ferrari Purosangue has proven so popular, Ferrari decided to close the order book until further notice.Ferrari
2023-Present Ferrari Purosangue
Engine
6.5L NA V12
Transmission
8-Speed Auto
Power
715 hp
Torque
528 lb-ft
0-60 mph
3.3 seconds
Having held off as long as it could, Ferrari eventually embarked on a project to develop its own SUV in 2017. Initially codenamed F175, the vehicle’s Purosangue name and SUV focus were then confirmed a year later. After a five-year development process, the finished article was unveiled in 2022. It was designed primarily to take on the likes of the Aston Martin DBX and Lamborghini Urus in the performance luxury SUV arena, which proved to be a real moneymaker.
Just because it was an SUV, though, didn’t mean Ferrari skimped on the vehicle’s performance. A naturally aspirated 6.5-liter V12 engine was shoehorned beneath its hood, sending a supercar-threatening 715 horsepower through a slick eight-speed automatic gearbox. Wanting to ensure its most practical model was accessible from a driving standpoint, the Purosangue also came with all-wheel drive. In addition, the car was graced with an advanced independent front suspension and multi-link rear active suspension, as well as four-wheel steering borrowed from its 812 Competizione supercar. Torque vectoring was also on hand to reduce on-power understeer, and it became the first Ferrari ever to be equipped with Hill Descent Control, just in case you decided to embark on some off-roading.
At the same time, the four-door, four-seater car provided a plush yet racy cabin that offered enough space for four people to travel in great comfort.
Ferrari Did Its Best To Preserve Its Heritage
ferrari purosangue engineFerrari
Of course, Ferrari enthusiasts weren’t initially happy that the Prancing Horse was “selling out” and producing an SUV, as opposed to focusing on the grand tourers, sports cars, and supercars that it had become known for. Ferrari was well aware of the potential backlash the Purosangue could cause, so it worked to mitigate it early in development. The low-slung design did a decent job of making sure it looked like a proper Ferrari, while the 6.5-liter V12 meant it couldn’t be uttered in the same sentence as some turbocharged, four-cylinder runaround.
Additionally, Ferrari made a point of not labeling the Purosangue as an SUV but rather as a “Ferrari Utility Vehicle,” as it sought to distance itself from the rather uncool SUV moniker. SUVs don’t tend to be described as exotic or appealing and are instead associated with buzzwords like practical, versatile, and family-friendly. By setting the Purosangue apart as its own breed, Ferrari was able to offer the advantages of an SUV to its loyal customers without severely compromising its legacy and pedigree.
Its Approach Allowed It To Charge Ferrari Money For Its SUV
Ferrari PurosangueFerrari
2023-Present Ferrari Purosangue Values
Base MSRP
$428,686
Lowest Sale
$404,623
Highest Sale
$588,000
Average Used Value
$448,476
Thanks to the reputation Ferrari has crafted over the last 80 years, it is in a position to charge more for products than rivals. This is because it knows buyers will pay the premium just to roll around in a Ferrari and tell everyone they meet that they own one. That’s why it was so important for Ferrari to separate the Purosangue from the general SUV image. If the strategy failed, those big-ticket customers would walk away and buy a much cheaper alternative. Still, Ferrari included the Prancing Horse tax from the outset.
Additionally, Ferrari caps the Purosangue’s total output at just 20% of its annual production, which translates to between 2,500 and 3,000 examples per year. This helps keep the vehicle exclusive, another key attribute that makes a Ferrari desirable and collectible years down the line. A 2026 Purosangue starts at $428,000 without options, nearly double the cost of a base Urus at around $252,000.
Used Purosangue Values Show Its Gamble Is Working
2023 Ferrari Purosangue Red Side Doors OpenFerrari
A few years on from the Purosangue reaching the market, it’s clear to see this approach has proven effective. The average sale value of the model currently sits at $468k, a fair way clear of the car’s base MSRP. Beyond that, there are a load of low-mileage specimens being offered at prices far above what their original owners would have paid. A good example is a red 2024 Purosangue with just 101 miles on the odometer, currently offered by a Maserati dealer in Hawaii for a hefty $600,000.
Another is a well-optioned blue 2025 car with 680 miles on the clock is on sale for under $680k, a premium of over $200k on its base MSRP. These figures clearly show that Ferrari’s approach has worked perfectly, and that, despite being an SUV, the Purosangue has maintained the trend of Ferraris being so desirable that used buyers will pay considerably more than MSRP to secure one.
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The Purosangue’s Release Saw Ferrari’s Efforts Quickly Pay Off
The Ferrari Purosangue is powered by a glorious 6.5-liter naturally-aspirated V12 engine. You’ll find the same V12 in the Ferrari 812 Superfast.Ferrari
In truth, we haven’t had to wait until now to see just how well received the Purosangue has been. One of the best ways to gauge early public reaction to a new model is to examine how the company’s stock price fluctuates from before a new vehicle is revealed to after. In mid-2022, before the Purosangue was officially revealed, the marque was trading at 160 euros per share. Spin the clock forward to May 2023, when the car started reaching customers, and Ferrari’s stock price had surged up to a commanding 272 euros per share.
This followed a stronger-than-expected 2023 Q1 financial performance, with earnings 27% higher than a year prior. The Purosangue has been an unmitigated success for Ferrari, not only from a sales perspective but also because it managed to fulfill Ferrari’s desire for an SUV in its range without compromising its pedigree. The ultimate result is that it allowed the Prancing Horse to continue charging around double what rivals like Lamborghini can get away with, while retaining the favor of its most loyal customers.
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Ferrari’s EV Revolution Doesn’t Look To Be Heading The Same Way
Ferrari LuceFerrari
Unfortunately, the same can’t be said for its latest push to add an electric SUV to its lineup. EVs have been polarizing, to say the least, in recent times, but that didn’t stop Ferrari from giving it a go anyway, since such vehicles are meant to be the future and all that. The machine in question was christened the Luce, but it has struggled to win over the public so far. Aside from being an EV, which arguably runs counter to Ferrari’s heritage of building cars with glorious powerplants, its styling left much to be desired. Whichever way you spin it, having your $640,000 EV SUV compared to a $30,000 Nissan Leaf in the looks department is nothing short of disastrous.
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Ferrari also didn’t help itself by emphasizing the Luce’s ability to comfortably seat five people, rather than at least selling it with the flair and passion expected of a Ferrari creation. The results of the poorly received Luce were quickly visible, as Ferrari’s share price dropped from 309 euros to just 290 euros in the evening after the car was unveiled. Within two days of the Luce being shown off, Ferrari’s stock had slumped to 283 euros. It has bounced back to around 330 euros as of early July 2026, but the initial drop clearly illustrated the public’s perception of the Luce.
Ferrari has shown it knows how to spin a story with the Purosangue, and now it needs to work out where it went wrong with the Luce. We look forward to seeing a redesigned example in the future, and perhaps with a little more verve than the Luce got when it was first put on display to the world. Still, at least Ferrari still has the Purosangue to fall back on should its new EV SUV turn out an utter failure.
Sources: Classic.com, Ferrari.
