Lamborghini's long-awaited SUV model, the Urus, won't arrive until at least 2017 - if at all -- the company's chief executive has revealed.

We've heard rumblings before that Volkswagen, the parent company of Lamborghini, was considering shelving the Urus project amid Europe's financial crisis, but now we have word from Lamborghini's top executive that the company's SUV plans could be on an indefinite hold.

"The Urus isn't an immediate priority and won't happen until 2017 at the earliest, if the board decides to sign it off," Lamborghini CEO Stephan Winkelmann told Auto Express.

He added: "To be honest, we don't need it right now, as we have plenty of new cars available that are selling well and will continue to sell well."

Designed as a higher-end alternative to vehicles like the Range Rover Sport and Porsche Cayenne, the Urus is reportedly slated to ride on a version of VW's MLB architecture, which will also underpin the next-generation Audi Q7 SUV. Lamborghini has never indicated what motor might power the Urus, but has stated that the SUV would boast about 600 horsepower.

If the Urus is ultimately given the green light, production would likely be capped at about 3,000 units, with the high-performance SUV commanding at least $200,000.