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Maserati Needs Second SUV Model to Reach Profit Target, CEO Says

A Maserati logo sits on the brake caliper and wheel assembly of a luxury automobile in the Maserati luxury automobile dealership in Almaty, Kazakhstan, on Thursday, June 25, 2015. Oil-rich Kazakhstan represents the new frontier for the makers of the world's most expensive cars, as China's luxury market slows down.
Photographer: Andrey Rudakov/Bloomberg

Maserati is taking a play from rival Porsche’s book, planning a second, smaller SUV as it looks to grow its global vehicle sales to as many as 80,000 a year.

The smaller SUV will share underpinnings with fellow Fiat Chrysler Automobiles NV brand Alfa Romeo, which just launched the Stelvio SUV, though the powertrain will likely be unique, Chief Executive Officer Sergio Marchionne said during an earnings call Tuesday. Maserati launched its first sport utility vehicle last year, the Levante.