GENEVA (Reuters) -- Fiat's luxury sports car maker Ferrari said today it would unveil a new eight-cylinder model at the Frankfurt auto show in the fall and dismissed speculation it would eventually make a smaller, cheaper car.

"We will stick to (our intentions) of presenting a new Ferrari model every year after the great success of the 599 (GTB Fiorano)," Chairman Luca Cordero di Montezemolo told reporters after a news conference at the Geneva auto show.

Launched last year, the two-seater, front-engine 599 GTB Fiorano has a two-year waiting list for buyers, he said.

Montezemolo did not provide details about the new model, but a Ferrari statement later issued to Reuters said the model would be based on the V-8-powered F430, its biggest-selling car.

"It is a new model on which there's been key research on weight reduction, performance obtained from Ferrari's experience in (Formula 1) competitions, and safety," it read.

Montezemolo, who is also chairman of Fiat, the majority owner of Ferrari, said it would never make a smaller, cheaper model.

"Ferrari will not make a small Ferrari," he said. "There is no project."

Journalists and analysts have speculated that Ferrari could come out with a cheaper version of its super cars to compete with the likes of Porsche or Aston Martin.

Montezemolo also flattened expectations of an initial public offering for Ferrari.

"Ferrari will not be listed for many years," he said. "There is no decision and no need."

Analysts have spoken of an eventual listing, referring to a stock options program for Montezemolo and other managers that was contingent upon an IPO by Dec. 31, 2010.

MORE ORDERS

Montezemolo said Ferrari had received 5-6 percent more orders in January and February than it did for the same period last year.

Ferrari would sell about 6,000 units this year compared with 5,650 in 2006.

"We will sell the same number of cars in each of our traditional markets, but more in new markets," he said. "We need to maintain Ferrari's exclusivity."

Montezemolo said he expected in the next few years to see Ferrari selling more cars in Asia than the United States, which for the last 25 years had been its biggest market.

He said 2006 was the "most successful year in Ferrari history" in terms of revenue, sales volume and number of markets.

In 2006, its trading profit totalled $240.5 million (183 million euros), up 26 percent.

Revenue rose 12.3 percent to $1.84 billion (1.4 billion euros), largely due to success of F430 and 599 GTB models and strong demand in new markets in the Middle East and Asia.