Tag: Ferrari

By on July 23, 2015

ferrari-488-gtb-05-1

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.

(Read More…)

By on July 11, 2015

sergio-marchionne

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.

(Read More…)

By on July 8, 2015

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).

(Read More…)

By on July 8, 2015

0B2J2274

With the imminent spin-off of Ferrari, Fiat Chrysler Automobiles boss Sergio Marchionne may be looking for a cash cow to help keep lagging brands at FCA afloat.

A story by Automotive News on Wednesday wonders aloud if Maserati will replace Ferrari as FCA’s marquee brand with double-digit profit margins. Behind Marchionne’s plan to sell the world on Jeep and Alfa Romeo, he would need to sell the world on the idea that Maserati is an exclusive, luxury brand, the article says.

Of course, that may be tough to do considering Maserati has always had a reputation for being Ferrari’s nerdy suburban cousin.

(Read More…)

By on July 6, 2015

Picture courtesy blogs.reuters.com

Speaking at an unrelated Fiat 500 reveal last week, Fiat-Chrysler chief Sergio Marchionne said Ferrari is worth about $11 billion and he expects the prancing horse’s IPO to garner about $1.1 billion went it goes up for sale in October.

“There are clear expectations from ourselves as Ferrari brand is unique,” Marchionne said, according to Bloomberg News. “There is also a scarcity value as we are just selling a 10 percent stake.”

Marchionne’s estimate is roughly double what brokers said the Maranello-based manufacturer could be worth almost a year ago.

(Read More…)

By on July 2, 2015

Williams-Cosworth FW07D

A Formula 1 study released yesterday shows that in just 5 years fans have gone from describing the sport as “Exciting” to “Boring” and that the more things change, the more things stay the same.

The 17-page report, which polled more than 200,000 fans of the sport, also revealed that fans are growing older and many fondly remember an era that didn’t go over so well in its time.

(Read More…)

By on June 21, 2015

2014 Hennessey Venom

Should you happen to be in Cheswick, Penn. next Sunday, you could be the new owner of a 2014 Hennessey Venom GT, or a Ferrari once owned by a Penguin.

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By on June 12, 2015

As Cameron’s post earlier today indicated, at a press conference in France, Bill Ford, Mark Fields, Raj Nair and Chip Ganassi announced that Ford will be returning to LeMans to compete in next year’s 24 hour race with a red, white, and blue liveried racing version of the new Ford GT. It will be campaigned by Ganassi’s team.

Recently TTAC ran a post of mine about Nair’s hints that Ford would race again at Circuit de la Sarthe, including his reference to “kicking Ferrari’s ass” in 1966. Twelve-steppers might say that Ferrari is living in Ford’s brain rent-free because beating the folks from Modena still seems to be on the minds of the folks in Dearborn. (Read More…)

By on June 7, 2015

Ferrari-458-Speciale-A-35

When Sergio Marchionne picked the day for Ferrari’s IPO, it looks like he may have ignored the lawyers.

An offering of 10 percent of Ferrari on the open market, originally scheduled for this month, has been pushed back to October.

(Read More…)

By on June 5, 2015

BMW M3 Touring Render

As rumors swirl about the eventual release of the BMW M3 Touring, Theophilus Chin has put a couple of renders together of Bavaria’s hot D-pillared automobile.

Here’s what happened overnight (and stories we’ve missed over the last few days).

(Read More…)

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