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Ferrari Readying Drop-Top LaFerrari

Set to be fastest convertible ever for Italian maker.

by on Jul.07, 2016

Ferrari will offer both a folding soft top and a carbon fiber hardtop for the LaFerrari Convertible.

Even before its official unveiling, Ferrari says it has already sold out the fastest convertible it has ever come up with – even before it releases the official price tag, in fact. But that’s likely no surprise considering the incredible demand for the original LaFerrari coupe.

We’re expecting to hear more in the coming days, but what we’ve already learned is that the LaFerrari convertible has undergone “significant and extensive modifications” to maintain the hardtop’s rigidity and improve its aerodynamics.

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The cabrio edition will also maintain the original LaFerrari powertrain, a 949 horsepower package using Formula One-derived KERS hybrid technology that will help it launch from 0 to 60 in just 2.4 seconds – on the way to a top speed of 217 mph.


Ferrari Stock Surges on First Day

But can it maintain that momentum?

by on Oct.22, 2015

FCA and Ferrari CEO Sergio Marchionne (front right in sweater) launches trading in RACE stock.

With the New York Stock Exchange symbol RACE, one might expect a new stock to take off like, well, a Ferrari Formula One race car – and that’s precisely what happened as the Italian automaker launched its long-awaited IPO.

Ferrari’s first-day surge was all the more impressive considering its stock initially was priced at $52, at the upper end of the anticipated offering. While RACE shares didn’t quite have the explosive power of a Google IPO, they still managed to end Wednesday trading at $55. And that gives the exclusive sports car company a market value of $10.4 billion.

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The strong reception was especially welcome on Wall Street at a time when several other closely-watched IPOs, including Digicel Group Ltd., were either canceled or postponed or delivered weaker-than-expected results.


Ferrari Set to Launch IPO

“Potentially risky,” but investors could reward a strong upside potential.

by on Oct.20, 2015

Ferrari unveiled the new 488 Spider at the Frankfurt Motor Show last month.

The new Ferrari 488 Spider will launch you from 0 to 60 in barely three seconds. Now, parent Fiat Chrysler is hoping Ferrari itself will burn rubber when it launches trading on the New York Stock Exchange Wednesday.

The trans-Atlantic automaker recently announced plans to sell off a 10% stake in Ferrari at somewhere between $48 and $52 a share, the actually price set to be announced today. That’s a fair bit higher than many analysts had expected when plans for an IPO were first announced last year – and that reflects FCA’s optimism that the Ferrari brand will become one of the rare gotta-have automotive stocks.

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There are plenty of reasons to be optimistic. As many Wall Street traders might tell you, there’s a long waiting line for Ferrari sports cars, something the Italian maker hopes to tap with a modest rise in production. And it is betting it can tap into booming global demand for luxury goods through new licensing agreements that could land the brand’s prancing pony logo on a variety of upscale products.


Ferrari IPO Process Begins

Exotic maker said to be valued around $9.8 billion.

by on Oct.12, 2015

Ferrari's "prancing pony."

Fiat Chrysler Automobiles has launched the long-awaited Initial Public Offering of its Ferrari brand.

As part of what it says will be a “series of transactions to separate Ferrari from FCA,” the maker said Monday it expects to price the exotic sports carmaker’s shares at between $48 and $52 apiece. That would value the entire company at about $9.8 billion – slightly less than the $12 billion some industry analysts had been expecting.

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FCA CEO Sergio Marchionne had long resisted a spin-off of the Ferrari brand, but apparently relented as it became apparent the trans-Atlantic automaker needed cash to fund future product development programs for its other U.S. and European brands.


Ferrari Ready to Launch IPO

Going public could force big changes on low-volume brand.

by on Sep.30, 2015

FCA CEO Sergio Marchionne and former Ferrari CEO Luca di Montezemolo both celebrated the launch of the $1 million Ferrari Enzo ultra-car.

Fiat Chrysler Automobiles could launch the eagerly awaited initial public offering of its Ferrari brand as early as Friday, according to various industry reports.

The move could generate as much as $1 billion in much-needed revenue for FCA, but it also raises some serious questions about the future of the ultra-exclusive Ferrari. A debate over how much to grow the brand last year resulted in the ouster of long-time CEO Luca di Montezemolo, who favored a go-slow approach.

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FCA CEO Sergio Marchionne has wanted to take more advantage of Ferrari’s image in the global luxury market, however, and is expected not only to push for faster growth of the brand’s luxury cars, but also to license its prancing pony logo for a broader range of upscale goods.


Marchionne Plans to Increase Ferrari Output

After di Montezemolo ousted, restricted production plans changed.

by on Sep.15, 2014

New Ferrari Chairman Sergio Marchionne, sitting on the hood of a new LaFerrari, plans to increase the number of Ferrari's built annually by 45%.

Just a few short days after a shake up at the top of Ferrari that saw Luca di Montezemolo’s departure, it appears change will not be limited to personnel but also will include strategy.

Reports suggest that new chairman Sergio Marchionne plans to reverse course on the company’s previous course of restricting production levels of Ferraris to inflate their value and see that jump hit the Italian maker’s bottom line.

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Multiple media reports suggest that Marchionne plans to increase the company’s production levels by nearly 45%: from 7,000 vehicles to 10,000. In the past, di Montezemolo kept production low because he feared oversaturating the market. (more…)

Marchionne Confirms Ferrari Capping Production

Despite new models, growing demand sales limited to 7,000 annually.

by on May.06, 2014

Ferrari officials are capping production of the company's model at 7,000 units annually through at least through 2018.

Fiat Chrysler Automobiles plans to limit production of new Ferraris over the five years even as it brings on new models and despite growing demand in emerging markets.

FCA Chief Executive Officer Sergio Marchionne told investors and analysts during a meeting at Chrysler headquarters in suburban Detroit that Ferrari sold 7,000 cars in 2013 and expects to sell the exact number in 2018.


While the rising wealth in China and other emerging markets could sustain expanding Ferrari production to 10,000 units annually, Ferrari’s management have agreed not to expand production for now. (more…)

Fiat Chrysler Hopes to Redefine, Sharpen Image as it Outlines Global Strategy

Tuesday session could deliver some surprises, sources say.

by on May.05, 2014

FCA CEO Sergio Marchionne completed his long-sought merger - but must now show he can do something with the company.

Almost exactly five years after taking control of the bankrupt automaker, CEO Sergio Marchionne will outline his global strategy for both Detroit-based Chrysler and its Italian partner Fiat during a day-long strategy session this week.

The marathon meeting will be a follow-up to one that Marchionne and his management team staged shortly after Chrysler emerged from Chapter 11 protection in 2009 – a session that saw skeptics question whether the U.S. maker could survive, never mind flourish under Italian control. But five years later, that’s exactly what is happening, Chrysler last week reporting its 49th consecutive monthly sales gain as it continued to outpace the industry’s overall recovery.

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But the smallest of Detroit’s so-called Big Three has plenty of challenges to deal with – as does partner Fiat. Together, the newly merged Fiat Chrysler Automobiles (FCA) will need to sharpen and, in some cases, redefine the identity of its various brands, roll out a wave of new products, and expand its presence in key emerging markets. That’s especially true for Chrysler which was pushed out of China after the collapse of its previous marriage to Germany’s Daimler AG.


Ferrari Puts Brakes On Production

Move designed to ensure the aura of exclusivity.

by on May.09, 2013

Ferrari is cutting back on production this year to maintain the brand's exclusivity.

Nothing turns heads quite like the sight of a Ferrari roaring down the road. The excitement and awe stems from the fact there aren’t many around. To ensure that continues, Ferrari plans to cut sales to fewer than 7,000 vehicles this year to maintain that aura of exclusivity around the storied brand.

“The decision we have made to sell fewer cars this year despite stronger sales is due to protect brand’s exclusivity,” Ferrari Chairman Luca Cordero di Montezemolo told reporters during a session at the company’s fabled factory in Maranello, Italy.

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Ferrari produced 7,318 cars last year, he said.


Muscle Car Wars

Horsepower getting as much attention as mileage.

by on Apr.01, 2013

Chevrolet's new 2014 Camaro Z28 is attracting big crowds at New York Auto Show.

“Where’s the Z/28?” asked 16-year-old Michael Kimberly as he wandered through the Jacob Javits convention center in New York on Saturday morning, tagging along on a tour his parents had signed up for at the New York International Auto Show.

The two older Kimberlys were there to check out all the “green cars,” including the new Nissan Pathfinder Hybrid and Subaru XV Crosstrek Hybrid models making their debuts at the annual show. But younger Michael, about to get his driver’s license, had something decidedly different in mind – the super-high-performance version of the 2014 Chevrolet Camaro that was the biggest surprise introduction at the 2013 NYIAS.

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The 550-horsepower “pony car” has been drawing deep crowds to the Javits Center’s somewhat-isolated North Hall since the show opened its doors to the public last week. But it’s not alone.