Ferrari has built a $500,000 'family' car to attract new buyers to the luxury sports brand

Ferrari’s new GTC4Lusso T is unveiled in Sydney.

Ferrari’s newest car is designed to drop the kids at school and go shopping in, according to the Italian supercar maker’s Australian CEO.

The GTC4Lusso T was unveiled in Sydney just two months after its international debut at the Paris Motor Show in September. It’s the first time Ferrari has offered a four-seater with its 3.8-litre twin-turbo V8 – the same engine in the wildly popular California T convertible.

It’s priced at $503,880 (plus on-road costs), with options that can take the bill to $631,558 and Ferrari says it’s aimed at people “seeking a car that is sporty, versatile, and ideal for driving on a daily basis”.

The V8 version is a rear-wheel drive with 4-wheel steering, which means that for the first time the Prancing Horse is offering a car with two different engines and drive-trains.

Ferrari Australasia CEO Herbert Appleroth believes the V8 GTC4Lusso is going to lure a whole new group of people to the Italian stallion.

“We have expectations that probably 70% of those owners will be new to Ferrari, very similar to California,” he said.

With a number of luxury car makers, especially in the SUV segment “bridging the gap and becoming ‘natural stepping stone to a Ferrari”, Appleroth says the GTC4Lusso T will lure people away that cars such as the Porsche Cayenne and Range Rover, as well as British GTs, to Ferrari, because it offers a broader appeal.

“There’s been people come into the sports market in that $300-400,000 mark who then want something as an everyday car,” he said.

“This is about the school run, this is about going to the supermarket, this is about the weekend away as well as during the weekend. Urban guerilla warfare. This is what this car is all about.”

As Ferrari’s senior vice president of design, Flavio Manzoni, pointed out during a visit to Sydney earlier this year, the company’s never going to make an SUV, so this is about as close as close as you’ll get from the Prancing Horse.

Ferrari’s new GTC4Lusso T

But with 85% of the GT market being V8 fans, Appleroth thinks this is the answer.

“So now we’re really able to capture and conquest those clients who didn’t have an option from Ferrari,” he said

“The Ferrari GTC4Lusso T has all the superior qualities Ferrari owners have come to admire in the brand and we are certain that the Ferraristi in Australia and New Zealand are going to love
this model, the first-ever Ferrari with four seats and a V8 engine.”

Appleroth’s take is that this is a second car market and they’ll be ditching the Cayenne for the Lusso. Amazing, it’s also a segment that’s posted a 35% growth spurt in the last 12 months, up from 650 cars to top 800 this year.

The interior of the GTC4Lusso T

Of course it’s still a 4.9-metre-long two-door, so there are still logistical constraints when doing the school run, but the rear seats are surprisingly roomy – Business Insider tested its 1.83cm (and shall we say generously proportioned) frame there and found it incredibly comfy, so teenage boys shouldn’t be a problem.

And then there’s a 450 litre boot, so you can fit in the weekend sports gear – or the $17,650 matching golf bag is what you really want – and the boys will love a car that generates 449 kW (610 CV) in power with 760 Nm torque, propelling the car to 100km/h from a standing start in 3.5km/h via a 7-speed dual-clutch automatic. The 91-litre fuel tank delivers 11.6 l/100km on the open road, so you could just about make it from Sydney to Melbourne on one tank.

The other thing to like, especially for tech-savvy passengers, is the “dual cockpit”, with a 10.25 inch touchscreen matched by touch controls on the passenger side, from the music to engine performance data.

The driving panel of the GTC4Lusso T

And of course if you’re trying to mount an argument with your spouse that you’ll save money by buying a Ferrari – here are two things to remember: the first seven years of servicing are included in the price, and second-hand Ferraris hold their value better than any other car. Oh, and it’s not for you, remember, it’s for the kids.

The other good news if you currently don’t have a family, is that there’s still time to start one. Even if you ordered a GTC4Lusso T this week, delivery won’t be until 2018.

The first Australian cars are due to land in mid-2017.

The GTC4Lusso T

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.