The supercar maker may be valued at more than $12.4 billion ahead of its initial public offering, which could happen as early as Friday, Bloomberg (via Automotive News) reported.
Ferrari may price its shares Friday night when it offers 10 percent of the Maranello-based automaker to the public. The remaining ownership of the carmaker will remain largely with the same ownership group, comprised mostly of the Agnelli family and Piero Lardi Ferrari.
Fiat Chrysler Automobiles CEO Sergio Marchionne said in July that Ferrari would be worth roughly $11 billion, which analysts balked at being a little ambitious. Since then, Ferrari’s value may have climbed as Marchionne told investors that Ferrari wasn’t necessarily an automaker, but rather a luxury brand that could be more profitable than a traditional carmaker.
Red Bull’s F1 team is the latest victim of Volkswagen’s emissions scandal, as a possible deal between the team and the automaker has gone “up in smoke.”
The keen eyes at Motor Authority spotted something that sounds like it’s probably true, but no one knows for sure yet, like life on Mars.
“Forza Motorsport 6″ lists its specs for the upcoming Ford GT at officially 630 horsepower and 539 pound-feet of torque to motivate 2,890 pounds of supercar with a 43-57 front-to-rear weight distribution. If true, it would be the first word for Ford’s hyper car, which the company teased has “more than 600 horsepower.”
Ford announced that production of its hypercar would be incredibly limited — 250 per year — and that buyers would need to apply to buy the car.
Speaking at the Formula One Italian Grand Prix this weekend, Fiat Chrysler Automobiles CEO Sergio Marchionne told Reuters that a merger with General Motors was at the top of his list.
“That discussion remains a high priority for FCA,” Marchionne told Reuters. “We consider it to be the best possible strategic alternative for us and for them. General Motors does remain the ideal partner for us and we represent a not easily replaceable alternative for them.”
(Emphasis mine. But what are the other “strategic alternatives?”)
Rather than begin in media res, let’s recap:
I sold my first Porsche 911 (a “993” as they call it, which means it was built sometime from 1995 to 1998 and was the last version of the 911 to feature air-cooling; mine was a 1996) to a nice guy in Minnesota.
The very next day, my second Porsche 911 (a “997,” which means it was built between 2005 and 2012 and was intended to fix the ugly looks and perceived dubious build quality of its immediate forebear — the “996” 911, which was the all-new car that succeeded the above-mentioned 993; my 997 was a 2007 example of the hardcore GT3 variant) met its end after a teenaged driver failed to yield immediately in front of me, resulting in a collision.
With no means of transportation beyond the shared mobility lifestyle or MARTA, it was time to start shopping for another car. I didn’t really have a defined budget, so I considered cars across a fairly wide price range.
Sajeev’s hot take on the Lego F40? Unclean! Abomination! We don’t need no studs in our Italian stallions. The blocky limitations of Lego have bricked Pininfarina’s flow, making a supermodel’s curves about as sexy as Samus Aran in her NES bikini.
I just finished putting together this thing and I disagree entirely. Judged as an accurate representation of the breed? Who cares? Here, the medium is the message. (Read More…)
I suspect there’s more than a handful of Transportation Design students finding employment in the toy business and I know my fellow design classmates at CCS collected diecast model cars. They’re inspirational, personally helping me render light/shadow reflections on the vellum.
Visits to (Pasteiner’s) Auto Zone happened regularly, sometimes with the same higher regard than local religious institutions. So spare me, oh mighty autoblogosphere, from the manufactured excitement of Lego’s F40 kit.
I reckon it’s a designer’s 8-bit nightmare. (Read More…)
Fiat Chrysler Automobiles formally filed its initial public offering on Thursday to spin off Ferrari into its own separate company.
The filing doesn’t specify price or number of shares to be offered when the shares are publicly available sometime after Oct. 13.
Roughly 10 percent of the company will be publicly traded, with the rest of the company remaining under control of existing FCA shareholders and Piero Lardi Ferrari, Enzo Ferrari’s son and current vice chairman.
Speaking to reporters in Toronto on Friday, Fiat Chrysler Automobile chief Sergio Marchionne said the official filing to spin off Ferrari could happen within the next few days.
“We are days away from filing the prospectus,” Marchionne said, according to the Detroit News.
The future standalone supercar maker will make available 10 percent of the company through its initial public offering, which is widely expected in October. The remainder of the company will be held by Fiat investors and Enzo Ferrari’s son, Piero Lardi Ferrari, who is vice chairman of the company.
Dubbed the “most famous Ferrari known to exist” by Mecum Auctions, the white “Miami Vice” Testarossa will hit the auction block August 13-15 in Monterey, California.
The amazingly entertaining history behind the car includes details about the Testarossa, which was repainted white, and its life after the hit ’80s show.
With just over 16,000 miles on the clock and a recent $8,000 engine-out service, a piece of American television history can be yours (probably for a lot of money).