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Found 32 results

  1. For the past few years, Fiat Chrysler Automobiles CEO Sergio Marchionne holds a conference with journalists and analysts at the Detroit Auto Show, taking various questions. According to Motor Trend, Marchionne revealed that more crossovers are on the way for Alfa Romeo, Chrysler, and Ferrari. Alfa's Three-Row Crossover: Sergio Marchionne confirmed that Alfa Romeo is working on a larger SUV to sit above the Stelvio. He says this model is very important for the brand. As we reported towards the end of December, the model would use a stretched version of the Stelvio's platform and possibly feature a mild-hybrid powertrain. Chrysler's Pacifica-based crossover: It seems the platform that underpins the Pacifica will be used for a long-promised crossover. The model was in the previous five-year plan for FCA, but was pushed back. The model will be in the next five-year plan (expected to be shown sometime later this year) and could go into production within the next 18 months. Ferrari SUV: Progress on Ferrari's upcoming SUV is moving quite quickly as Marchionne said it would be ready by the end of 2019 or early 2020. At the moment, the Italian automaker has mock-up bodies of the SUV, but nothing driveable. “I have seen the car when I was in Europe. It’s not finished. It’s going to be Ferrari. It will drive like a Ferrari or I’ll be taken to the shed. But it looks good,” said Marchionne. Other bits from Marchionne: When asked about a performance electric vehicle, Marchionne said, “Ferrari has looked at this forever, and if there is an electric supercar to be built, Ferrari will do it,” FCA hasn't "found an economic way to get this done” when asked if there was the chance of a midsize Ram pickup. Wrangler Pickup is expected to debut towards the end of 2019 Marchionne is planning to retire as FCA CEO next year The most pressing question asked during the session? Where does he buy his sweaters? Answer: Online. Source: Motor Trend View full article
  2. For the past few years, Fiat Chrysler Automobiles CEO Sergio Marchionne holds a conference with journalists and analysts at the Detroit Auto Show, taking various questions. According to Motor Trend, Marchionne revealed that more crossovers are on the way for Alfa Romeo, Chrysler, and Ferrari. Alfa's Three-Row Crossover: Sergio Marchionne confirmed that Alfa Romeo is working on a larger SUV to sit above the Stelvio. He says this model is very important for the brand. As we reported towards the end of December, the model would use a stretched version of the Stelvio's platform and possibly feature a mild-hybrid powertrain. Chrysler's Pacifica-based crossover: It seems the platform that underpins the Pacifica will be used for a long-promised crossover. The model was in the previous five-year plan for FCA, but was pushed back. The model will be in the next five-year plan (expected to be shown sometime later this year) and could go into production within the next 18 months. Ferrari SUV: Progress on Ferrari's upcoming SUV is moving quite quickly as Marchionne said it would be ready by the end of 2019 or early 2020. At the moment, the Italian automaker has mock-up bodies of the SUV, but nothing driveable. “I have seen the car when I was in Europe. It’s not finished. It’s going to be Ferrari. It will drive like a Ferrari or I’ll be taken to the shed. But it looks good,” said Marchionne. Other bits from Marchionne: When asked about a performance electric vehicle, Marchionne said, “Ferrari has looked at this forever, and if there is an electric supercar to be built, Ferrari will do it,” FCA hasn't "found an economic way to get this done” when asked if there was the chance of a midsize Ram pickup. Wrangler Pickup is expected to debut towards the end of 2019 Marchionne is planning to retire as FCA CEO next year The most pressing question asked during the session? Where does he buy his sweaters? Answer: Online. Source: Motor Trend
  3. Marchionne Stokes Ferrari's Interest In An SUV

    Back in July, we reported that Ferrari was planning an SUV. This was a bit of a surprise since Ferrari Chairman and FCA CEO Sergio Marchionne said "you have to shoot me first,” when asked about this last year. He would confirm that the brand is considering this a month later. It seems now Ferrari is now beyond the consideration stage. Today at the New York Stock Exchange, Marchionne said the automaker is deciding on production which will take about 30 months to complete. Production would be limited to preserve exclusivity. “We’re dead serious about this. We need to learn how to master this whole new relationship between exclusivity and scarcity of product, then we’re going to balance this desire to grow with a widening of the product portfolio,” said Marchionne. As we reported back in August, the SUV or 'FUV' as Marchionne calls it is part of an effort to double the profits of Ferrari. Source: Bloomberg
  4. Back in July, we reported that Ferrari was planning an SUV. This was a bit of a surprise since Ferrari Chairman and FCA CEO Sergio Marchionne said "you have to shoot me first,” when asked about this last year. He would confirm that the brand is considering this a month later. It seems now Ferrari is now beyond the consideration stage. Today at the New York Stock Exchange, Marchionne said the automaker is deciding on production which will take about 30 months to complete. Production would be limited to preserve exclusivity. “We’re dead serious about this. We need to learn how to master this whole new relationship between exclusivity and scarcity of product, then we’re going to balance this desire to grow with a widening of the product portfolio,” said Marchionne. As we reported back in August, the SUV or 'FUV' as Marchionne calls it is part of an effort to double the profits of Ferrari. Source: Bloomberg View full article
  5. It was about a month ago that we reported on the rumor of Ferrari working on an SUV, a complete 180 from Ferrari Chairman (and Fiat Chrysler Automobiles CEO) Sergio Marchionne's “you have to shoot me first” answer when asked about this last year. That rumor has been revealed to be true. During a conference call reporting second-quarter earnings, Marchionne confirmed that the Italian sports car builder is considering an expansion into utility vehicles and possibly reinvent the segment. "It will probably happen but it will happen in Ferrari’s style,” said Marchionne. "That space is too big and too inviting and we have a lot of our customers who will be more than willing to drive a Ferrari-branded vehicle that has that king of utilitarian objective." Marchionne also reiterated the “you have to shoot me first” comment is if Ferrari comes up with something similar to the models from Bentley or Porsche. Bloomberg learned from sources earlier in the week about Ferrari considering adding an SUV to their lineup in an effort to double profits by 2022. The model would be targeted at customers in Asia, particularly those in China. This could add an extra 2,000 sales for the company. But this could bring up a big problem for Ferrari. Currently, Ferrari produces under 10,000 vehicles a year to avoid various emission regulations. By possibly adding an SUV, Ferrari would now have to meet them. According to sources, Ferrari is planning on introducing more hybrid models beginning in 2019 to meet the various regulations. Next year, Marchionne will be presenting his final five-year business plan for FCA and their various brands. We'll likely find out then if Ferrari is going forward on the utility vehicle. Source: Bloomberg, (2)
  6. It was about a month ago that we reported on the rumor of Ferrari working on an SUV, a complete 180 from Ferrari Chairman (and Fiat Chrysler Automobiles CEO) Sergio Marchionne's “you have to shoot me first” answer when asked about this last year. That rumor has been revealed to be true. During a conference call reporting second-quarter earnings, Marchionne confirmed that the Italian sports car builder is considering an expansion into utility vehicles and possibly reinvent the segment. "It will probably happen but it will happen in Ferrari’s style,” said Marchionne. "That space is too big and too inviting and we have a lot of our customers who will be more than willing to drive a Ferrari-branded vehicle that has that king of utilitarian objective." Marchionne also reiterated the “you have to shoot me first” comment is if Ferrari comes up with something similar to the models from Bentley or Porsche. Bloomberg learned from sources earlier in the week about Ferrari considering adding an SUV to their lineup in an effort to double profits by 2022. The model would be targeted at customers in Asia, particularly those in China. This could add an extra 2,000 sales for the company. But this could bring up a big problem for Ferrari. Currently, Ferrari produces under 10,000 vehicles a year to avoid various emission regulations. By possibly adding an SUV, Ferrari would now have to meet them. According to sources, Ferrari is planning on introducing more hybrid models beginning in 2019 to meet the various regulations. Next year, Marchionne will be presenting his final five-year business plan for FCA and their various brands. We'll likely find out then if Ferrari is going forward on the utility vehicle. Source: Bloomberg, (2) View full article
  7. Rumorpile: Ferrari Is Planning An SUV

    “You have to shoot me first.” That was the response of Ferrari Chairman (and Fiat Chrysler Automobiles CEO) Sergio Marchionne last year when asked if Ferrari would ever do an SUV. But it seems Ferrari is working on one according to a report from Car. The model - codenamed F16X is expected to be paired up with the replacement for the GT4C, due out in 2020. That means it will feature aluminum architecture and all-wheel drive. F16X will set itself apart from the GT4C by having a higher ride height, feature a four-door coupe body with rear suicide doors, and utilize V8 and hybrid powertrains. According to sources at the company, the F16X will cost 300,000 euros (about $341,724.57). Source: Car
  8. “You have to shoot me first.” That was the response of Ferrari Chairman (and Fiat Chrysler Automobiles CEO) Sergio Marchionne last year when asked if Ferrari would ever do an SUV. But it seems Ferrari is working on one according to a report from Car. The model - codenamed F16X is expected to be paired up with the replacement for the GT4C, due out in 2020. That means it will feature aluminum architecture and all-wheel drive. F16X will set itself apart from the GT4C by having a higher ride height, feature a four-door coupe body with rear suicide doors, and utilize V8 and hybrid powertrains. According to sources at the company, the F16X will cost 300,000 euros (about $341,724.57). Source: Car View full article
  9. Ferrari has been able to be exempt from certain regulations concerning emissions and fuel economy since they sell less than 10,000 vehicles per year. But the Italian sports car builder is getting close to that amount as they have commited to ship 8,000 vehicles this year and raise that to 9,000 by 2019. What do you do in this case? Begin to add hybrid bits to your vehicles. Reuters reports that Ferrari CEO Sergio Marchionne announced during a conference call with investors that all of their vehicles sold from 2019 will have some sort of hybrid tech. This would allow Ferrari to grow and sell more vehicles. "Although I neither commit to this nor do I give any sort of certification of it being our objective, it is possible that the (annual sales) number could be well in excess of 10,000 cars in 2025," said Marchionne. Marchionne also mentioned that the company would undergo a "fundamental shift" in the way it manufacturers its cars. This would include building models with a focus on luxury. Source: Reuters View full article
  10. Ferrari has been able to be exempt from certain regulations concerning emissions and fuel economy since they sell less than 10,000 vehicles per year. But the Italian sports car builder is getting close to that amount as they have commited to ship 8,000 vehicles this year and raise that to 9,000 by 2019. What do you do in this case? Begin to add hybrid bits to your vehicles. Reuters reports that Ferrari CEO Sergio Marchionne announced during a conference call with investors that all of their vehicles sold from 2019 will have some sort of hybrid tech. This would allow Ferrari to grow and sell more vehicles. "Although I neither commit to this nor do I give any sort of certification of it being our objective, it is possible that the (annual sales) number could be well in excess of 10,000 cars in 2025," said Marchionne. Marchionne also mentioned that the company would undergo a "fundamental shift" in the way it manufacturers its cars. This would include building models with a focus on luxury. Source: Reuters
  11. Ferrari announced today that the current CEO Amedeo Felisa will step down and Sergio Marchionne will become the new CEO. The changes are effective immediately. The change didn't come as a surprise to most people. Sources tell Reuters that Marchionne being named CEO doesn't change much as he has been in charge since former Chairman Luca Di Montezemolo quit in September 2014. Felisa has been with Ferrari for 26 years holding various roles including overseeing product development and the general manager of the brand. He was named CEO in 2008. Felisa will still be part of Ferrari's board of directors. It is unknown what this change will bring to the Italian sports car maker. But considering some of Marchionne's previous comments, it wouldn't be surprising if production is slightly increased and an entry-level sports car comes out. Source: Associated Press, Reuters, Ferrari Press Release is on Page 2 Ferrari Announces CEO Succession Maranello (Italy), 2 May 2016 – Ferrari N.V. (“Ferrari” or “Company”) (NYSE/MTA: RACE) announces the retirement of its Chief Executive Officer, Mr. Amedeo Felisa, after 26 years of dedicated service. Mr. Sergio Marchionne will assume those responsibilities while retaining his current role as Chairman of the Company. Mr. Felisa will continue to serve on the Board of Directors of Ferrari with a specific mandate as technical advisor to the Company. Sergio Marchionne had this to say: “I have known Amedeo for more than a decade and I have had the opportunity to work with him closely for the last two years. He is beyond any doubt one of the best automotive engineers in the world. During the last 26 years, he has worked tirelessly to fuel and guide Ferrari’s technical development, producing an array of cars which have set the standard for both performance and styling.” The Board of Directors wants to officially express its gratitude to Amedeo for his contributions and is delighted to be able to count on his services as technical advisor to the leadership team going forward. These executive changes are effective immediately.
  12. Fiat Chrysler Automobiles' CEO Sergio Marchionne isn't a fan of electric vehicles, especially the idea of a Ferrari EV. "With Ferrari, it's almost an obscene concept," said Marchionne. A key part of the Ferrari driving experience explained Marchionne was the noise of the V8 or V12 engines. Going with a fully electric powertrain removes something important in the experience. "You'll have to shoot me first," said Marchionne. It is rumored that Ferrari will do more with hybrid technology in their future vehicles as a way of improving fuel economy while retaining the performance the brand is known for. Source: Motor Authority
  13. The Ferrari FF was a bit of an odd duck for the brand. First introduced at the 2011 Geneva Motor Show, the FFmodel was a four-seater shooting brake with a 651 horsepower V12 and all-wheel drive. Five years after its debut, the Italian sports car builder is readying a refreshed version that will debut at the Geneva Motor Show next month. But it won't be called FF. It will be called the GTC4Lusso. At first, we thought someone had spilled some coffee on the keyboard when writing out the press release. But GTC4Lusso is the actual name of this vehicle. Ferrari says the name comes from the 330 GTC and the 250 GT Berlinetta Lusso, two iconic models from the past. Compared to the FF, the GTC4Lusso is similar in profile. But the GTC4Lusso borrows a couple of design cues from the F12 Berlinetta such as the front end, deep scallops on the doors, and a large rear diffuser. As someone who liked the look of the FF, the GTC4Lusso looks a bit ungainly. The interior boasts a new dashboard with a new 10.25-inch touchscreen. A compact steering wheel is said to improve the feeling of the GTC4Lusso being sporty. Under the hood is the same 6.3L V12 engine that powered the FF. For the GTC4Lusso, power has been increased from 651 to 681 horsepower. Torque has slightly increased from 504 to 514 pound-feet. No mention of what sort of transmission the model will use. A new all-wheel drive system with four-wheel steer will keep the model going in any condition. Source: Ferrari Press Release is on Page 2 The Ferrari GTC4Lusso debuts at the Geneva Show Class-leading performance, versatility in all driving conditions, sublime elegance. A unique car, a whole new world. Maranello, 8 February 2016 – Ferrari announces the addition to its range of the Ferrari GTC4Lusso, the new four-seater which hails a major evolution of the sporting Grand Tourer concept by integrating rear-wheel steering with four-wheel drive for the first time. This is a car designed for clients wanting to experience the pleasure of driving a Ferrari anywhere, anytime, be it on short spins or long journeys, snowy mountain roads or city streets, alone or in the company of three lucky passengers. Drivers who demand exceptional power but refuse to compromise on in-car comfort, sporty elegance and impeccable detailing. In short, the GTC4Lusso brings unprecedented versatility to Ferrari driving, like the FF before it which won the Prancing Horse a new, younger client base that, significantly, also makes greater use of its cars, clocking up 30% higher mileage than average. The GTC4Lusso’s name references illustrious predecessors, such as the 330 GTC or its 2+2 sister model, the 330 GT – one of Enzo Ferrari’s favourites – and the 250 GT Berlinetta Lusso, which represented a sublime combination of elegance and high performance. The number 4 alludes to the car’s four comfortable seats. Engine The GTC4Lusso’s 12-cylinder engine delivers smooth, consistent power, punching out a massive 690 cv at 8,000 rpm. Both its 2.6 kg/cv weight-to-power ratio and its 13.5:1 compression ratio set new records for the category. Maximum torque is 697 Nm at 5,750 rpm with 80% already available at just 1,750 rpm for superb responsiveness even at low revs. The soundtrack brilliantly reflects the car’s multifaceted personality: it is rich and powerful in performance driving and discreet yet harmonious in the city. Dynamics The Ferrari GTC4Lusso is an exceptionally versatile car in every kind of grip condition thanks to the Ferrari-patented 4RM Evo four-wheel drive system which is integrated with rear-wheel steering for the first time. The result is the newly-patented 4RM-S (four-wheel drive and steering) system which, based on yet another exclusive Prancing Horse patent, the latest evolution of the Slip Side Control (4.0) system, now incorporates the electronic differential (E-Diff) and the SCM-E dampers. All these sophisticated vehicle dynamics controls are seamlessly integrated by Ferrari’s proprietary software and enable the driver to effortlessly handle the GTC4Lusso’s extraordinary torque even on snow-covered, wet or low grip roads. The result is tremendous stability and a sensation of masterful control and security that translates into superior performance. The new-generation SCM-E damper control also contributes to improving performance on rough surfaces and, of course, to superior ride comfort. The GTC4Lusso’s high levels of performance are also due in part to new aerodynamic solutions, not least a new front grille with integrated air intakes to improve the efficiency of the radiating masses, the air vents on the wing that recall those of the 330 GTC, a roof-mounted rear spoiler and a new triple-fence diffuser. The combined effect of these features is a Cd value that is substantially lower than on the FF. Style Penned by Ferrari Design, the GTC4Lusso is a further refinement of the shooting brake coupé, reinterpreting the concept with an extremely streamlined, tapered shape that gives it an almost fastback-like silhouette. Its sporty soul is underscored by the forms and styling of the rear where the curve of the roof has been lowered whilst retaining enough volume to guarantee exceptional space and comfort for all four occupants, as well as an ample luggage compartment. Ferrari’s signature twin rear lights adorn the tail. These not only emphasise the car’s muscular shoulders and broaden it horizontally, but work visually with the tail pipes to lend a sense of imposing power to the rear. Dynamically chiselled crease lines create a diapason theme along the car’s flanks, breaking up the optical mass, accentuating the muscular wheelarch and imparting a sculpted athleticism. Interior Meticulous attention to design and carefully executed detailing has produced a cabin that is a flawless triumph of sporty luxury. Its Dual Cockpit architecture is another first, designed to enhance the shared driving experience for both driver and passenger, with the latter having their own generous optional display with a plethora of functions. That innovative architecture aside, the cabin’s most striking feature is the beautiful craftsmanship of the materials which have been painstakingly selected and combined to enrich the atmosphere on board. Generous wraparound seats guarantee all four occupants exceptional comfort and room, creating the same ambience as a luxurious living space. The GTC4Lusso also debuts the new Infotainment platform featuring a 10.25” HD screen with capacitive touch technology. The new steering wheel is more compact thanks to a smaller air bag and the integrated controls are more ergonomic than ever, making for an even sportier driving experience. The official world premiere of the GTC4Lusso will be at the Geneva International Motor Show in March, but exclusive images can be seen from today on www.ferrari.com. Ferrari GTC4Lusso brief technical specification Engine Type V12 – 65° Overall displacement 6262 cc Max. power output* 507 kW (690 cv) at 8,000 rpm Max. torque* 697 Nm at 5,750 rpm Dimensions and weight Length 4,922 mm Width 1,980 mm Height 1,383 mm Dry weight** 1,790 kg Weight distribution 47-53% front/rear Performance Maximum speed 335 km/h 0-100 km/h 3.4 sec * With 98 RON petrol **With optional lightweight contents
  14. Alfa Romeo and Maserati are in a bit of a mess. Product launches for both brands have been pushed back again and again for various technical challenges. FCA has decided to bring back a former employee to help straighten out this mess. According to Automotive News, FCA has lured former Ferrari chief engineer Roberto Fedeli from BMW to become the chief technical officer for Alfa Romeo and Maserati. His new position will have him overseeing the r&d for the two brands. Fedeli spent 26 years at Ferrari in various roles before becoming the head of r&d for production cars in 2007. He is one the major players in the creation of the brand's hybrid supercar, the LaFerrari. Fedeli joined BMW back in 2014. Fedeli has his work cut out in trying to get Alfa Romeo and Maserati back on track. Supplier sources tell Automotive News that the most recent delay for the Giuila was due to the model failing to pass internal front, side, and rear crash tests. This resulted in an additional six months in development time to re-engineer the vehicle. A spokesperson from FCA told Road & Track the report is "not accurate or representative at all." The spokesperson went on to say that the Giulia is still on track to be launched in "late 2nd quarter 2016." We'll believe it when we see it. Over at Maserati, the Levante SUV was supposed to debut last year but is now scheduled to go on sale this summer. This delay was due to Maserati scrapping the Grand Cherokee platform and going with the Quattroporte/Ghibli platform for their first SUV. Source: Automotive News (Subscription Required), Road & Track
  15. So Ferrari has a invitation only SuperCar that makes things very interesting. http://money.cnn.com/video/luxury/2014/10/27/ferrari-super-car.cnnmoney?iid=EL So the question is do you think it is worth it? What about the style? Sound off after watching above on what you think of this invitation only supercar!
  16. Ferrari IPO set.

    Ferrari is now valued as a 10 Billion dollar company based on the IPO announcement today. http://money.cnn.com/2015/10/12/investing/ferrari-ipo-race/index.html You too can own a share of Ferrari purchasing their shares under the title of RACE. So will this help to fund FCA better?
  17. With Ferrari being spun off from Fiat Chrysler Automobiles later this year, the company will lose its biggest profit maker that helps bankroll a number of vehicles in FCA's lineup. So what is the company to do? FCA CEO Sergio Marchionne is hoping Maserati can fill that void. “Maserati is very important,” Marchionne said Bloomberg in an interview. After the Ferrari spinoff, “Maserati becomes the most coveted, exclusive brand that we have.” Maserati is a known quantity in terms of performance, and the luxury market is booming in the U.S. But trying to convince buyers that they want a Maserati instead of the usual suspects in the luxury class is a difficult task. Despite selling 36,448 vehicles last year, - more than double the shipments the company has done before - worldwide sales have declined 9 percent to 7,306 through the month of April. Not helping matters is dealers putting a large amount of incentives on the new Ghibli sedan, which has caused a fair amount of the profits made on every sale to go downward. Marchionne has set a goal of selling 75,000 Maserati vehicles worldwide by 2018. A very lofty goal as IHS Automotive forecasts only 54,000 registrations of Maserati vehicles by that time. But the Ghibli is bringing in younger buyers and the upcoming Levante crossover will hopefully add to it. “They’ve got a hell of a lot to build on. But it’s incredibly expensive to play the game. Marchionne can’t afford to stumble. With the volume numbers he’s trying to generate, he’d better not miss.” said Joe Phillippi, president of consulting firm AutoTrends Inc. Source: Bloomberg Click here to view the article
  18. With Ferrari being spun off from Fiat Chrysler Automobiles later this year, the company will lose its biggest profit maker that helps bankroll a number of vehicles in FCA's lineup. So what is the company to do? FCA CEO Sergio Marchionne is hoping Maserati can fill that void. “Maserati is very important,” Marchionne said Bloomberg in an interview. After the Ferrari spinoff, “Maserati becomes the most coveted, exclusive brand that we have.” Maserati is a known quantity in terms of performance, and the luxury market is booming in the U.S. But trying to convince buyers that they want a Maserati instead of the usual suspects in the luxury class is a difficult task. Despite selling 36,448 vehicles last year, - more than double the shipments the company has done before - worldwide sales have declined 9 percent to 7,306 through the month of April. Not helping matters is dealers putting a large amount of incentives on the new Ghibli sedan, which has caused a fair amount of the profits made on every sale to go downward. Marchionne has set a goal of selling 75,000 Maserati vehicles worldwide by 2018. A very lofty goal as IHS Automotive forecasts only 54,000 registrations of Maserati vehicles by that time. But the Ghibli is bringing in younger buyers and the upcoming Levante crossover will hopefully add to it. “They’ve got a hell of a lot to build on. But it’s incredibly expensive to play the game. Marchionne can’t afford to stumble. With the volume numbers he’s trying to generate, he’d better not miss.” said Joe Phillippi, president of consulting firm AutoTrends Inc. Source: Bloomberg
  19. Came across this story about Ferrari beating Bugatti and it is very cool to watch. Interesting is that in the quarter mile you do see that the Ferrari is a couple car lengths ahead but as they hit the finish line and keep going the bugatti closes the gap. Makes one wonder who would really win in a mile long race. https://fr.news.yahoo.com/laferrari-demolishes-bugatti-veyron-drag-race-video-135004475.html
  20. The National Highway Traffic Safety Administration has issued a $3.5 million fine for Ferrari as it failed to comply with oversight requirements. The agency announced today that the Italian sports car maker had not submitted early warning reports for the past three years. These reports are important for NHTSA as it helps them identify potential or existing safety problems. Federal law requires manufacturers these reports quarterly. Previously, Ferrari was qualified as a a small-volume manufacturer which exempted them from providing these reports. However, Ferrari was still required to notify the agency of any fatal accidents involving its vehicles, something it didn't do for three accidents in this time. Also, Ferrari lost its small-volume manufacturer exemption when it became part of Fiat in 2011. "There is no excuse for failing to follow laws created to keep drivers safe, and our aggressive enforcement action today underscores the point that all automakers will be held accountable if they fail to do their part in our mission to keep Americans safe on the road," said U.S. Transportation Secretary Anthony Foxx. Ferrari spokesperson Krista Florin said in a statement that the missed reports were unintended, and that the automaker had implemented new procedures to "ensure full compliance in the future." Source: Reuters, National Highway Traffic Safety Administration William Maley is a staff writer for Cheers & Gears. He can be reached atwilliam.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster. Press Release is on Page 2 NHTSA Fines Ferrari $3.5 Million for Failing to Submit Early Warning Reports Automaker Did Not Submit Required Safety Information for Three Years WASHINGTON – The U.S. Department of Transportation's National Highway Traffic Safety Administration (NHTSA) today announced that Ferrari will pay a $3.5 million civil penalty and has been ordered to comply with NHTSA oversight requirements as set forth in a Consent Order for failing to submit early warning reports (EWR reports) identifying potential or actual safety issues. Federal law requires large manufacturers and affiliates of large manufacturers to submit comprehensive EWR reports on a quarterly basis, in order to provide notice to the Department of potential safety concerns. Ferrari, an affiliate of Chrysler, admitted that it violated the law when it failed to submit required reports to NHTSA over a three-year period, and failed to report three fatal incidents. Until Fiat (which includes Ferrari since 2011) acquired Chrysler, Ferrari qualified as a small volume manufacturer and was not required to file quarterly EWR reports. However, while Ferrari was not required to file quarterly reports, it must report fatal incidents nonetheless. "There is no excuse for failing to follow laws created to keep drivers safe, and our aggressive enforcement action today underscores the point that all automakers will be held accountable if they fail to do their part in our mission to keep Americans safe on the road," said U.S. Transportation Secretary Anthony Foxx. In addition to the civil penalty, the Consent Order requires the automaker to improve its processes for EWR reporting, to train personnel on the EWR requirements, to communicate these improvements to NHTSA, and to retroactively submit all EWR reports. The Consent Order is immediately enforceable in federal court if any terms are violated. "The information included in early warning reports is an essential tool in tracking down dangerous defects in vehicles," added NHTSA Deputy Administrator David Friedman. "Early warning reports are like NHTSA's radar, helping us to find unsafe vehicles and make sure they are fixed. Companies that violate the law and fail to comply will be subject to comparable swift NHTSA enforcement action." EWR reports are required under the Transportation Recall Enhancement, Accountability, and Documentation (TREAD) Act of 2000. The law requires quarterly reporting of: production information; incidents involving death or injury; aggregate data on property damage claims, consumer complaints, warranty claims, and field reports; and, copies of field reports involving specified vehicle components, a fire, or a rollover.
  21. The most iconic brand of Fiat Chrysler Automobiles will become its own company. The company announced today that it plans to spin off Ferrari into its own separate company as part of a plan to raise capital that will support the FCA's future growth. Once the separation happens, Ferrari will put 10 percent of its shares on the stock market "in the United States and possibly a European exchange". The remaining 90 percent will be distributed among FCA's existing shareholders. "Following our acquisition of the minority interest in Chrysler earlier this year, the transformation of Fiat and Chrysler into FCA was completed earlier this month with our debut on the New York Stock Exchange. As we move forward to secure the 2014-2018 Business Plan and work toward maximizing the value of our businesses to our shareholders, it is proper that we pursue separate paths for FCA and Ferrari. The Board supports management's determination that this transaction represents FCA's best course of action to support the long term success of the Group while at the same time substantially strengthening FCA's capital base," said FCA CEO Sergio Marchionne. Source: Fiat Chrysler Automobiles William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster. Press Release is on Page 2 Page 1 of 2 1 2 → Last » Click here to view the article
  22. The most iconic brand of Fiat Chrysler Automobiles will become its own company. The company announced today that it plans to spin off Ferrari into its own separate company as part of a plan to raise capital that will support the FCA's future growth. Once the separation happens, Ferrari will put 10 percent of its shares on the stock market "in the United States and possibly a European exchange". The remaining 90 percent will be distributed among FCA's existing shareholders. "Following our acquisition of the minority interest in Chrysler earlier this year, the transformation of Fiat and Chrysler into FCA was completed earlier this month with our debut on the New York Stock Exchange. As we move forward to secure the 2014-2018 Business Plan and work toward maximizing the value of our businesses to our shareholders, it is proper that we pursue separate paths for FCA and Ferrari. The Board supports management's determination that this transaction represents FCA's best course of action to support the long term success of the Group while at the same time substantially strengthening FCA's capital base," said FCA CEO Sergio Marchionne. Source: Fiat Chrysler Automobiles William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster. Press Release is on Page 2 FCA Announces Board Intention to Spin Off Ferrari S.p.A. The Board of Directors of Fiat Chrysler Automobiles N.V. (NYSE: FCAU) ("FCA") announced that in connection with FCA's implementation of a capital plan appropriate to support the Group's long-term success, it has authorized the separation of Ferrari S.p.A. ("Ferrari") from FCA. The separation will be effected through a public offering of FCA's interest in Ferrari equal to 10% of Ferrari's outstanding shares and a distribution of FCA's remaining Ferrari shares to FCA shareholders . The Board authorized FCA management to take the steps necessary to complete these transactions during 2015. FCA expects that the Ferrari shares will be listed in the United States and possibly a European exchange. "I am delighted to have taken this additional step in the development of FCA. Coupled with the recent listing of FCA shares on the NYSE, the separation of Ferrari will preserve the cherished Italian heritage and unique position of the Ferrari business and allow FCA shareholders to continue to benefit from the substantial value inherent in this business" said John Elkann, Chairman of FCA. FCA CEO Sergio Marchionne added. "Following our acquisition of the minority interest in Chrysler earlier this year, the transformation of Fiat and Chrysler into FCA was completed earlier this month with our debut on the New York Stock Exchange. As we move forward to secure the 2014-2018 Business Plan and work toward maximizing the value of our businesses to our shareholders, it is proper that we pursue separate paths for FCA and Ferrari," Marchionne continued, "The Board supports management's determination that this transaction represents FCA's best course of action to support the long term success of the Group while at the same time substantially strengthening FCA's capital base." The spin-off of Ferrari will be subject to customary regulatory approvals, tax and legal considerations, final approval of the transaction structure from the FCA Board of Directors and other customary requirements.
  23. Ferrari's showing for the Paris Motor Show is the Ferrari 458 Speciale A. The 458 Speciale A (Aperta) is the convertible version of the 458 Speciale and features most of the the lightweight materials found on the coupe. The difference is the addition of a folding aluminum roof which can open or close in 14 seconds, and only adds about 110 pound to the weight of the Speciale A. Power comes from a 4.5L V8 engine which makes 605 horsepower and 397 pound-feet of torque. Ferrari says the 458 Speciale A can hit 60 MPH in about 3.0 seconds (about a tenth slower than the coupe). The Special A also features Ferrari's Side Slip angle Control (SSC) system which varies the torque distribution to improve handling. Ferrari says they will only build 499 458 Speciale A models. No word on when Ferrari will begin selling them. Source: Ferrari Press Release is on Page 2 FERRARI 458 SPECIALE A: A NEW RECORD-BREAKING SPIDER 25/09/14 499 cars to celebrate our most successful, award-winning 8-cylinder model Maranello, 25th September 2014 – Ferrari is pleased to announce the Paris Motor Show world debut of the 458 Speciale A (A as in Aperta). The new limited edition special series is a celebration of the dazzling success of the various versions of the 458, a model that has collected an array of international motoring media awards and track victories, not least a double WEC title and category wins in classic endurance races, such as the 24 Hours of Le Mans, the 24 Hours of Daytona and the 12 Hours of Sebring. Dedicated to just 499 Ferrari collectors, the 458 Speciale A is the most powerful spider in Prancing Horse history, effortlessly marrying extreme performance with the sublime pleasure of drop-top driving. Its aluminium retractable hard top, which takes a mere 14 seconds to deploy or retract, helps reduce the weight difference with the Speciale coupé to just 50 kg. The 458 Speciale A sports the most powerful naturally-aspirated road-going V8 engine ever built by Ferrari. It punches out a massive 605 cv (135 cv/l specific power output) and 540 Nm of torque at 6000 rpm yet only generates 275 g/km of CO2 emissions. The three international Best Performance Engine awards the V8 has won are acknowledged on a special plaque in the cockpit. The new car sprints from 0-100 km/h in just 3.0 seconds and has a Fiorano lap time of 1'23"5. These superb results are thanks in great part to its front and rear active aerodynamics, the rigidity of a chassis that incorporates 10 aluminium alloys, and Side Slip Angle Control (SSC) which guarantees unparalleled sporty driving in all conditions, underscored by the seductively exhilarating signature Ferrari soundtrack. As is the case with all Prancing Horse cars, the 458 Speciale A's sculpted forms are absolutely performance-oriented. In fact, a series of innovative and original bodywork solutions has made the 458 Speciale A the most aerodynamically efficient Ferrari spider ever. The 458 Speciale A is being premiered in a unique triple-layer yellow livery with a Blu Nart and Bianco Avus central stripe as well as five-spoke forged wheels in Grigio Corsa. The cockpit has a distinctive racing-inspired look: lightweight yet exclusive materials have been adopted throughout and, of course, crafted with Ferrari's signature artisanal sophistication. This is particularly true of the finish of the dash, the moulded door panels and central tunnel in an exclusive blue carbon-fibre (also used for the treadplates) as well as the newly-designed seats in Alcantara© with contrasting stitching and 3D technical fabric. TECHNICAL SPECIFICATION SUMMARY EngineType V8 – 90° Total displacement 4497 ccMax. power output 605 cv at 9000 rpm Maximum torque 540 Nm at 6000 rpm WeightDry weight 1340 kg Weight-power ratio 2.21 kg/cv Performance0 - 100 km/h 3.0" 0 - 200 km/h 9.5"Fiorano lap time 1'23"5 Emissions (ECE + EUDC combined cycle) CO2 emissions** 275 gr/km **with HELE system
  24. Ferrari's long standing chairman Luca di Montezemolo announced today that he will step down from the company on October 13th. Taking his place for the time being will be Fiat Chrysler Automobiles CEO Sergio Marchionne. Montezemolo has a long and storied career at Fiat and Ferrari. He started at Fiat before moving to the prancing horse in 1973. There he became Enzo Ferrari's assistant. A year later, he was named head of the Scuderia (racing division) the following year. Montezemolo worked hard and helped the team reach great success. Because of his efforts with Scuderia, he was name head of Fiat's racing activities. In 1991, Montezemolo was named chairman of Ferrari. However, Montezemolo and Marchionne have been clashing over a number of issues. The two biggest issues are Ferrari's F1 team not claiming a championship since 2008 (or a win this year), and where the brand stands under FCA. "Ferrari will have an important role to play within the FCA Group in the upcoming flotation on Wall Street. This will open up a new and different phase which I feel should be spearheaded by the CEO of the Group." said Montezemolo in a statement. "Luca and I were appointed to the Fiat Board of Directors on the very same day back in 2003. One year later, he became Chairman and I became CEO. We worked side by side, sharing concerns, difficulties and successes. As Chairman of Ferrari, he drove the company to a new level of technological and organizational excellence which also brought with it outstanding financial results. Luca and I have discussed the future of Ferrari at length. And our mutual desire to see Ferrari achieve its true potential on the track has led to misunderstandings which became clearly visible over the last weekend. I want to thank Luca for all he has done for Fiat, for Ferrari and for me personally," said Marchionne. Source: Ferrari William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.comor you can follow him on twitter at @realmudmonster. Press Release is on Page 2 Montezemolo quits Ferrari, Fiat CEO Sergio Marchionne to become new Chairman Luca Cordero di Montezemolo has announced his intention to resign as Chairman of Ferrari with effect from October 13th following completion of Ferrari's celebration of 60 years in America. Fiat CEO, Sergio Marchionne, will take over as Chairman of Ferrari. Since 1991, Ferrari achieved significant results under Montezemolo's chairmanship in terms of both financial performance and its standing in the world of racing. Under his leadership, Ferrari boasted a world-class team and numerous record-setting achievements. "On behalf of my family and myself, I would like to thank Luca for all he has done for both Fiat and Ferrari", said Fiat Chairman, John Elkann. He held several key positions with the Group, including serving as Chairman of Fiat from 2004 to 2010, and we shared many challenging but also rewarding moments. Luca leaves us with my most sincere and heartfelt wishes for his future professional endeavors and the hope, I am certain shared by us both, that Ferrari will return to victory very soon." "Luca and I were appointed to the Fiat Board of Directors on the very same day back in 2003", said Fiat CEO, Sergio Marchionne. "One year later, he became Chairman and I became CEO. We worked side by side, sharing concerns, difficulties and successes. As Chairman of Ferrari, he drove the company to a new level of technological and organizational excellence which also brought with it outstanding financial results. Luca and I have discussed the future of Ferrari at length. And our mutual desire to see Ferrari achieve its true potential on the track has led to misunderstandings which became clearly visible over the last weekend. I want to thank Luca for all he has done for Fiat, for Ferrari and for me personally." Statement from Ferrari Chairman Luca di Montezemolo "Ferrari will have an important role to play within the FCA Group in the upcoming flotation on Wall Street. This will open up a new and different phase which I feel should be spearheaded by the CEO of the Group. This is the end of an era and so I have decided to leave my position as Chairman after almost 23 marvellous and unforgettable years in addition to those spent at Enzo Ferrari's side in the 1970s. My thanks, first and foremost, to the exceptional Ferrari women and men from the factory, the offices, the race tracks and the markets across the world. They were the real architects of the company's spectacular growth, its many unforgettable victories and its transformation into one of the world's strongest brands. A warm farewell and my thanks also to all of our technical and commercial partners, our dealers across the globe and, most particularly, the clients and collectors whose passion I so wholeheartedly share. But my thoughts go also to our fans who have always supported us with great enthusiasm especially through the Scuderia's most difficult moments. Ferrari is the most wonderful company in the world. It has been a great privilege and honour to have been its leader. I devoted all of my enthusiasm and commitment to it over the years. Together with my family, it was, and continues to be, the most important thing in my life. I wish the shareholders, particularly Piero Ferrari who has always been by my side, and everyone in the Company the many more years of success that Ferrari deserves." Maranello, 10th September 2014. Turin, 10 September 2014
  25. The balance act of performance and emissions is difficult to say in the least, but Ferrari thinks they have figured it out. According to Vittorio Dini, Ferrari's Powertrain Director, the company plans on increasing performance while reducing CO2 emissions by 20 percent by 2021. "Our average CO2 emissions are currently about 270 grams of CO2 per kilometer. We want to use all the available technologies to reduce emissions by 3 percent each year, which means approximately a 20 percent decrease by 2021," Dini said to Automotive News Europe. How does the company plan on pulling this feat off? By using turbocharging and hybrid systems. Ferrari is turning to downsized V8 engines paired with turbochargers. Case in point is the 2015 California T which traded in a 4.3L V8 making 484 horsepower to a 3.9L turbocharged V8 producing 552 horsepower. As for CO2 emissions, the change in engines saw emissions drop from 299g/km to 250g/km. As for V12 engines, Dini said the company looked at turbocharging. The idea was nixed after it was decided that it would take four turbos to provide the same punch, which causes packaging and heat dissipation problems. Instead, the company will utilize hybrid technology for their V12s. Source: Automotive News Europe (Subscription Required) William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster. Click here to view the article

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