Ferrari has long been associated with some of the most luxurious cars ever to be rolled out into the streets. It’s one of those companies that have built a reputation that precedes itself. So when they veer away from what they do best – produce fast and expensive cars – eyebrows are naturally raised.

That seems to be the case when the Prancing Horse is set to debut their very first SUV next year. Historically speaking, the words ‘Ferrari’ and ‘SUV’ are as synonymous as oil and water. But then again, there’s always a first time for everything and people at Scuderia are finally ready to buck the trend and get into the SUV arms-race. While the idea for a Ferrari SUV has floated around in the past, nobody took them seriously until a series of renderings caught the attention of the automotive world. The latest rendition of the proposed Ferrari SUV, which incidentally, was given the codename ‘Ferrari FS 599 Fuoristrada’, looks like any standard SUV - it has four doors, a raised ride height and will most likely come with a 4WD system.

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Despite its inconspicuous appearance, don’t think for one bit that the folks over at Ferrari are settling for something ordinary. That’s not how Ferrari rolls and that’s certainly not what the company’s very first SUV will be.

The SUV will be made from aluminum and carbon fiber composites, making it lighter than most SUVs. In addition to that, the SUVs engine comes in the mold of the ones found in the California and the 599 GTB – which carries a maximum horsepower of 400hp and 600hp, respectively - two extremely powerful engines the likes of which have never been placed under the hood of an SUV. Then again, this is Ferrari we’re talking about. ‘Slow’ and ‘steady’ are two words that aren’t in their vocabulary.

In any case, the Italian-based company has plans on unveiling the SUV at the 2010 Geneva Motor Show, but that date has not yet been set in stone, especially if the global economy continues to take a beating.

For now, we’re all waiting with baited breath regarding the future of this car. If it does push through, then it has the potential to turn the SUV world upside down.