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F1's Vettel leads, Verstappen and Grosjean crash at Silverstone

SILVERSTONE, England — Ferrari's Sebastian Vettel pushed Formula One title rival and home race favorite Lewis Hamilton off the top of the British Grand Prix practice timesheets on Friday while Max Verstappen crashed. Hamilton, winner for the past four years at Silverstone, had started the day by leading a Mercedes one-two in the sunny opening session. Vettel, who leads the Briton by a point in the championship after nine races, put in a lap of 1 minute 27.552 seconds in the afternoon to end the session 0.187 faster than his fellow-four-times world champion. That was still slower than Hamilton's morning time of 1:27.487, however, with Vettel third then and half a second slower. Hamilton's Finnish teammate Valtteri Bottas, with a new engine in his car after last weekend's mechanical retirement in Austria, was second and third fastest respectively in the two sessions. Australian Daniel Ricciardo and Kimi Raikkonen traded fourth and fifth places while Max Verstappen, winner in Austria for Red Bull, was sixth in the morning but crashed after lunch without setting a time. The 20-year-old Dutchman had ended the first session early after he was told to stop the car. Haas's Romain Grosjean had a heavy crash at the fast first corner, slamming into the tire barriers after failing to close the drag reduction system (DRS), in the morning and did not take part in practice two. "The car is destroyed," the Frenchman, who was unhurt in the impact, said over the radio. "I'm very, very sorry guys. I think it was the bump. I missed the (DRS) button." Team boss Guenther Steiner said the team needed to rebuild the chassis. Grosjean's team mate Kevin Magnussen and McLaren's Fernando Alonso were called to see stewards for a "potentially dangerous maneuver" after an incident between them early on but stewards ruled there was no further action needed. "Magnussen tried to hit me two times - in one and three," Alonso reported over the radio. "Very dangerous."Reporting by Alan BaldwinRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: Reuters Motorsports Ferrari Mercedes-Benz Racing Vehicles F1 Lewis Hamilton Sebastian Vettel Kimi Raikkonen silverstone Max Verstappen british grand prix Romain Grosjean

Fiat gives outgoing Ferrari chairman $35M severance package

Luca di Montezemolo may not have wanted to leave Ferrari this way, but don't feel too bad for the departing chairman, because he'll be hitting the ground with a golden parachute so big that he'll never have to work again.
According to the latest reports, Fiat will pay Montezemolo 26.95 million euros (nearly $35 million) in severance pay. A little more than half of that will be paid in a lump sum of 13.71 million euros ($17.7M, equivalent to five times his annual salary) on January 31, 2015, with the rest to be paid within the next 20 years.
The payment is contingent on Montezemolo not going to work for a competitor, so don't expect to see him replacing Stephan Winkelmann at Lamborghini or Wolfgang Dürheimer at Bugatti any time soon. At least not until March 2017. Of course with that much cash on hand, the 67-year-old marquis need never work again, but considering how busy he's used to keeping himself, we'd be surprised if he didn't pop up again somewhere.

Ferrari 488 GTB challenges that whole 'no replacement for displacement' thing [w/video]

You can't stand in the way of progress, even if you wanted to. And the current state of affairs in the automobile industry has everyone reaching for turbochargers. That includes even a company as famous for its wailing, high-revving supercars as Ferrari. The Prancing Horse marque has galloped in to the Geneva Motor Show this year on the back of the new 488 GTB. Replacing the 458 with its atmospheric 4.5-liter V8, the new 488 GTB packs a downsized turbo eight that may be smaller at 3.9 liters, but doesn't skimp on the power – now producing 661 horsepower and 560 pound-feet of torque to trump even the ultimate 458 Speciale. Compared to the new McLaren 675LT, the 488 packs almost as many horses but even more torque, and goes well beyond the Lamborghini Huracan by both measures. Even the new Audi R8 V10 Plus can't touch it. That's the kind of progress we can get behind, but there's more to the new 488 GTB than the turbocharged engine. It's also got revised electronics, updated bodywork, enhanced aerodynamics and a revised interior. Scope it out in our slideshow of live images from the floor of the Geneva Palexpo and in the video below. THE FERRARI 488 GTB – EXTREME POWER FOR UNIQUE DRIVING PLEASURE The innovative 8-cylinder berlinetta debuts at Geneva: new design, new engine and a plethora of patented solutions Geneva, 3 March 2015 – On its official debut at the Geneva Motor Show, the Ferrari 488 GTB sets a new benchmark for the sports car sector. Forty years on from the launch of Ferrari's iconic first-ever mid-rear-engined V8 berlinetta, the 308 GTB, the Ferrari 488 GTB opens a new chapter in the history of cars with this particular architecture. Credit for this achievement must go to the Ferrari 488 GTB's revolutionary proprietary solutions which deliver a car at the top of its class in terms of power output (670 cv) with engine and response times of just 0.8 and 0.06 seconds respectively. Sophisticated dynamic vehicle controls make this performance completely controllable even on the limit by drivers of all abilities, resulting in the unique driving pleasure that only a Ferrari can deliver. Ferrari drew extensively on its experience in both Formula One and endurance racing, bringing to the road the technology that delivered victory in two editions of the 24 Hours of Le Mans and the title in the WEC (World Endurance Championship).