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Sebastian Vettel signs with Racing Point for the 2021 F1 season

LONDON — Four-time Formula One champion Sebastian Vettel will drive for Racing Point starting next season. The team, which will be renamed Aston Martin, announced the move Thursday, a day after driver Sergio Perez said he was on his way out. The team said Vettel has signed for the 2021 season “and beyond" but did not reveal the length of the contract. “The signing of Sebastian is a clear statement of the teamÂ’s ambition to establish itself as one of the most competitive names in the sport," the team said in a statement. “As a four-time world champion, Sebastian brings a fresh mindset to the team." One of the most successful drivers in F1, Vettel is leaving Ferrari at the end of this season after he was not offered a new contract. He will be replaced by McLaren driver Carlos Sainz at Ferrari next year. Vettel has won 53 grand prix races, a tally only surpassed by Michael Schumacher and Lewis Hamilton. He won four consecutive titles with Red Bull from 2010-13 and joined Ferrari in 2015 with the aim to win another. But he never had a car really capable of challenging Mercedes during his stint with the Scuderia, where he lost his No. 1 status as teammate Charles Leclerc came to prominence. “ItÂ’s a new adventure for me with a truly legendary car company," Vettel said. “I have been impressed with the results the team has achieved this year, and I believe the future looks even brighter. I still have so much love for Formula One and my only motivation is to race at the front of the grid." Currently fourth in the constructors' standings, Racing Point was handed a 400,000 euro ($470,000) fine and docked 15 points last month for copying a Mercedes design for its brake ducts. The team, however, was allowed to continue to use the offending components this season. Racing PointÂ’s other driver is Lance Stroll, the son of co-owner Lawrence Stroll. Motorsports Aston Martin Ferrari F1 Sebastian Vettel

Maranello cracks down on rent-a-Ferrari rackets

A crackdown by policy makers in Maranello, Italy, means that visitors to Ferrari's headquarters and museum can't as easily experience the brand's famously sonorous engines for themselves. Several businesses in the city had rented the Prancing Horse's sports cars to tourists for brief drives, but the screaming powerplants got on locals' nerves enough to force new rules to curtail these joyrides. According to CNBC citing an Associated Press report, the various rental businesses had 37 Ferraris and offered a variety of packages to tourists. For example, a 10-minute drive in a F430 Spider was as inexpensive as 80 euros ($87 at current rates). The drivers wanted to get the most from their brief time at the wheel and often sped around the city. While there were no major accidents from the vehicles, the local cops still pulled over 450 of these folks through the first nine months of 2015. The new legislation in Maranello and Fiorano limits the times the test drives can happen and bans the companies from luring customers outside of the Ferrari museum. "We have lost 80 percent of business," the owner of one of these firms said in the report. The rental agencies already challenged the measures in court but lost. It doesn't offer quite the same experience, but Ferrari fans can still get the occasional earful from the brand's engines by staking out the Fiorano test track. We often see the company's future and sometimes classic models there making wonderful noises. Related Video: News Source: CNBCImage Credit: Marco Vasini / AP Photo Government/Legal Ferrari Driving Safety Performance Supercars test drive maranello

The Ferrari 488 Challenge is the one-make series' first turbo car

Ferrari has revealed its newest Ferrari Challenge series racecar, just in time to celebrate the 25th anniversary of the one-make series next year. The new model is the 488 Challenge, and like its road-going sibling, it features a turbocharged V8. This makes the 488 Challenge the first car in the series to use a turbocharger, and at 670 CV (660 horsepower), it's the most powerful car the series has featured. The car made its debut at the season-ending Finali Mondiali event at Daytona International Speedway over the weekend. In addition to the new powertrain, the 488 Challenge gets other updates compared to its 458-based predecessor. The engine is lighter by more than 43 pounds, and the exhaust has lost nearly 19 pounds. The front bumper and the hood have been completely redesigned, and the rear wing is larger than its predecessor's. Drivers also now have a pair of manettinos (make that manettini) on the steering wheel for managing traction control settings, instead of one like on the road cars. One adjusts when it activates, and the other controls how aggressive the system is when it does kick in. Thanks to these various changes, the 488 Challenge is notably faster than the previous Challenge car, the 458 Challenge Evoluzione. Ferrari claims the 488 lapped its Fiorano test circuit a full second faster than the 458. You'll be able to see this new Ferrari in action in the coming year's Ferrari Challenge Series. But until the series starts, check out our live photos of the new machine above and a gallery of Ferrari-supplied images below. Related Video: