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Posts Tagged ‘ferrari news’

Ferrari Will Ride Hybrid, SUV Sales to Debt-Free Status

Marchionne says new vehicle sales will make company debt-free a year early.

by on Feb.02, 2018

Ferrari CEO Sergio Marchionne said the company will be debt-free sooner than expected.

What Oprah Winfrey is the giving away free cars, Sergio Marchionne is to promising to make automakers debt-free!

Marchionne told investors in a conference call today that the Italian sportscar maker will be debt-free a year earlier than he predicted, while pushing earnings to $2.5 billion by 2022. The sweater-wearing leader told FCA investors that the company would be debt-free by the end of the year.

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He believed that the increased production levels and coming products, especially hybrids, EVs and the sport-utility vehicle will drive the increase in earnings. (more…)

Marchionne Confirms Plan for Ferrari SUV, Hints at Battery Supercar

“Ferrari Utility Vehicle” will be world’s fastest, promises CEO.

by on Jan.17, 2018

Sergio Marchionne said Ferrari will produce a sport-utility vehicle, like competitors Lamborghini, Porsche and others.

There are SUVs, CUVs and, soon, there will be an FUV. And before you try to guess what that means, Sergio Marchionne calls it the Ferrari Utility Vehicle – though considering the disdain some of the brand’s gold chained owners often display, you might come up with a different interpretation.

Rumors of a Ferrari sport-utility vehicle have been circulating for some time, and after dropping some earlier hints, Marchionne made it absolutely official during a series of appearances and conversations at the North American International Auto Show this week.

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The executive, who heads both Fiat Chrysler Automobiles and the Ferrari brand it spun off two years ago, suggested that we could see the new hyper-ute by sometime next year or into 2020, emphasizing his intent for it to be the world’s fastest utility vehicle. (more…)

Ferrari Doubling Production a Year Early

If maker hits mark, profits soar past $2 billion.

by on Dec.13, 2017

The Portofino is Ferrari's latest model. CEO Sergio Marchionne is pushing for production levels to double, perhaps next year.

It would appear that CEO Sergio Marchionne is finally getting his wish to bulk up the production of Ferraris as the Italian sports carmaker plans to produce 9,000 vehicles next year.

Marchionne has long wanted to produce more vehicles to squeeze more profits out of the company. It led to a dispute with the former chief, Luca di Montezemolo, which led to his departure from Ferrari. Montezemolo was concerned that building too many vehicles would cut the exclusivity of the brand and lower its value.

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Clearly, Marchionne disagreed but the new production numbers are a full year ahead of even his projections, according to Automotive News. (more…)

Ferrari Gives In; Marchionne Confirms SUV is Coming

CEO also appears to dismiss sale of Jeep brand.

by on Oct.10, 2017

CEO Sergio Marchionne basically confirmed that a Ferrari sport-utility vehicle is in the works.

Even Ferrari, a brand that has long dominated on track and street with its iconic sports car, can’t seem to resist the rise of the sport-utility vehicle.

Sergio Marchionne, who heads both the Italian automaker and Fiat Chrysler Automobiles, appeared to confirm that a ute is on the way for Ferrari as he spoke to reporters at the New York Stock Exchange on Monday. The sports car maker had been one of the few remaining holdouts as exotic competitors like Aston Martin and Lamborghini have begun work on SUVs of their own.

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“We’re dead serious about this,” Marchionne said during his comments, taking things a step further than he had gone during an August earnings call when he hinted a Ferrari SUV might “probably happen.” (more…)

Ferrari Makes it Official with Frankfurt Debut of New Portofino

No more California Dreaming.

by on Sep.12, 2017

The new Ferrari Portofino made its debut at the Frankfurt Motor Show. It's the replacement for the California.

The term, “entry level” can carry quite a different meaning, depending on whether you’re talking about a subcompact hatchback or a new Ferrari.

So, don’t worry about shortcuts in comfort or performance with the debut of the new 2018 Ferrari Portofino. The replacement for the outgoing California model, if anything, is a significant upgrade.

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“The object here was to come up with something that made no compromises,” said Enrico Gallieri, the exotic automaker’s chief marketing officer, as he prepared to lift the covers on the new hardtop convertible. That means, if anything, more performance as well as improved comfort. (more…)

No More California Dreaming; Portofino is New Ferrari Entry Model

Hardtop Convertible to feature 592 hp V-8.

by on Aug.23, 2017

Ferrari is ready to show off its new entry-level model, the Portofino, at the Frankfurt Motor Show next month.

Dreaming about getting into a Ferrari? Forget the California. The automaker is offering a new entry model, the Portofino, which will make its formal debut at the Frankfurt Motor Show next month.

Like the California, it will feature a hard convertible top that will be able to open or close while the vehicle is moving, albeit nowhere near its rated top speed of more than 200 miles per hour. And to push it to that sort of number, the Ferrari Portofino will feature a more powerful, 3.9-liter V-8 capable of punching out 592 horsepower and 560 pound-feet of torque.

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“The Ferrari Portofino is the new V8 GT set to dominate its segment thanks to a perfect combination of sportiness, elegance and on board comfort,” the automaker said as it announced the upcoming launch of the Portofino. (more…)

Ferrari Finds the Time to Celebrate 70th Anniversary

High-performance time piece requires a high price tag: $127K to start.

by on Mar.24, 2017

Ferrari celebrates the introduction of its new watch line commemorating the company's 70th anniversary.

Long considered one of the world’s premier automakers, Ferrari is celebrating its 70th anniversary this year. Of course, any auto aficionado worth his or her salt is desperately searching for a way to take part in this milestone.

Naturally, the first impulse is to simply got out and buy a new Ferrari. Of course, there is that issue of what one to get: LaFerrari? California? 488 Spider? All fine choices, but even with the production increases pushed through by Sergio Marchionne, it’s unlikely you’ll get behind the wheel of a new model this year.

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The used market is always a possibility, but who wants to scour Craigslist or Autotrader for a used Ferrari. The cheapest one currently on Ebay Motors – a 1994 348 in red, of course – has a “Buy It Now” price of $64,995. (more…)

Ferrari Pushes the Ragged Edge with New 812 Superfast

New model features electric power steering: a first.

by on Mar.09, 2017

Ferrari unveiled its new 812 Superfast at the Geneva Motor Show. It includes a new "first" for the maker: electric power steering.

With Ferrari, “fast” might as well be part of the company name. Then there’s Superfast – or more precisely, the Ferrari 812 Superfast making its debut at this year’s Geneva Motor Show.

Its big V-12 capable of launching the sleek, rear-engined belle macchina from 0 to 100 kmh (62 mph) in a mere 2.9 seconds, the new model would seem to be classic Ferrari.

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But there’s just enough of a nod to broader auto industry trends that could shake up some purists: the 812 Superfast marking the first time Ferrari has ever, gasp, used electric power steering. (more…)

Ferrari Launches Limited-Edition J50

Based on 488 Spider, celebrates 50 years in Japan.

by on Dec.14, 2016

Ferrari will build just 10 J50s.

The Japanese market has been a tough one to crack for most foreign automakers. But not Ferrari. It’s had a long and successful history in the Land of the Rising Sun, and it’s ready to celebrate.

The automaker has lifted the kimono to reveal the special, limited-edition J50 convertible it has developed to mark its 50th year in the Japanese market, the mid-engine two-seater starting out as a Ferrari 488 Spider but getting some feature and performance enhancements.

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The Ferrari J50 was developed by the Italian maker’s Special Projects unit —with the help of the Ferrari Styling Center — which also came up with the 458 MM Speciale. And if you’re hoping to have something even more unique than the typical Ferrari, this might be your pick considering the plans call for the production of only 10 Ferrari J50s.

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Ferrari Looking to Hybrids to Help Boost Demand

And it isn’t alone: many performance brands studying electrification options.

by on Nov.11, 2016

The LaFerrari showed that hybrid power can meet highest levels of performance Ferraristas expect.

While many folks still think of battery power as a way to create fuel-efficient, albeit boring, automobiles, Ferrari is looking at electrification as a way to boost both performance and sales.

Speaking to industry analysts following release of the company’s earnings this week, CEO Sergio Marchionne said Ferrari would like to be selling as many as 10,000 vehicles annually in the near-future. But to do that, it would probably add some sort of hybrid technology to every vehicle in the brand’s line-up by 2019.

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Ferrari has already used a Formula One-derived hybrid system for the flagship LaFerrari. And it’s not alone in looking at its battery options. Porsche has the high-performance Mission E under development, Aston Martin developing a battery-electric version of its Rapide. And there’s also the Tesla Model S with its Ludicrous mode. Even Mercedes-Benz is looking at a variety of battery-based options for its AMG line.

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