Speaking at a press conference, quoted by Britain's Autocar, Sergio Marchionne, head of Ferrari and parent company Fiat Chrysler Automobiles (FCA), said: "“I think that if we allow the Ferrari engineers to reinvent the concept of a vehicle that has some utilitarian features, I think the answer is, it will probably happen, but it will happen Ferrari style".
"Ferrari has been known historically for being able to redefine and define automotive segments."
"But I don’t want it to be a UV (utility vehicle) – I want it to be what Ferrari thinks is appropriate. But no decision has been made yet," he added.
However, soon after, a spokesperson from Ferrari said despite recent speculation, the company "will not be launching an SUV".
It's another round of conflicting comments from the company, with Marchionne stating in the past that you'd 'need to shoot him' before Ferrari produces an SUV.
Recently, Enrico Galliera, the company's chief marketing and commercial officer, told Autocar that Ferrari would not be producing an SUV or a model with four doors because those body styles don't translate to a sports car.
"Ferrari has to remain consistent, doing what we know to do, which is delivering cars that are able to deliver emotion. Sports cars."
Last month, though, reports out of Europe seemingly confirmed a crossover was in the works, with the UK's CAR magazine claiming a development project internally dubbed F16X is evidence of the company's plans to build its first SUV - reportedly due around 2021 with V8 petrol or hybrid powertrains.
Such a model would likely double Ferrari's annual sales volume to around 16,000 units.