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Ferrari confirms all-new model

2007-03-12 11:35
Fiat's luxury sports car maker Ferrari said last week it would unveil a new eight-cylinder model at the Frankfurt Motor Show and dismissed speculation it would eventually make a smaller, cheaper car.

"We will stick to (our intentions) of presenting a new Ferrari model every year after the great success of the 599 (GTB Fiorano)," Chairman Luca Cordero di Montezemolo told reporters after a news conference at the Geneva auto show.

Launched last year, the two-seater, front-engine 599 GTB Fiorano has a two-year waiting list for buyers, he said.

Montezemolo did not provide details about the new model, but a Ferrari statement later issued to Reuters said the model would be based on the V8-powered F430, its biggest-selling car.

"It is a new model on which there's been key research on weight reduction, performance obtained from Ferrari's experience in (Formula 1) competitions, and safety," it read.

Montezemolo, who is also chairman of Fiat, the majority owner of Ferrari, said it would never make a smaller, cheaper model.

"Ferrari will not make a small Ferrari," he said. "There is no project."

Journalists and analysts have speculated that Ferrari could come out with a cheaper version of its supercars to compete with the likes of Porsche or Aston Martin.

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