$375,000 Ferrari Purosangue SUV sold out for two years

Ferrari's first SUV has been hauling in the customers.

The Italian automaker has confirmed that it is no longer taking orders for its recently unveiled Purosangue model.

When the four-seater was revealed in September, the company said it might have to close the book early due to expected high demand.

"It's no secret that we stopped taking orders. We had such an interest without delivering one single car," Enrico Galliera, Ferrari's Chief Marketing and Commercial Officer told Drive.

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"We made a decision that we thought was consistent with the positioning of Ferrari and the model."

Current orders will now take at least two years to fulfill, leaving anyone off the list out of luck until then.

Ferrari intentionally restricts its production to maintain the scarcity of its vehicles and sold a record 11,115 globally in 2021. The company's mantra has been that it will always build at least one less car than the market demands.

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Ferrari will hold the Purosangue to no more than 20% of its output, which could be expanded to 15,000 cars in the coming years, so only about 2,200 to 3,000 will be available annually. This is in contrast to rival Lamborghini, which sold 5,021 of its Urus SUVs in 2021 out of 8,405 total vehicles.

The Purosangue is more of a tall hatchback than a true utility vehicle and has small rear-hinged rear doors to access the second row seats through. Its starting price is around $375,000, and it comes with a 715 hp V12 engine that's good for a top speed over 190 mph.

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Ferrari's stock has fallen from its all-time high of $271.95 in November 2021, but closed on Monday at $215.95, more than four-times its 2015 IPO price of $52, putting its market cap at $40.67 billion.