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Ferrari confirms Vettel in, Alonso out

For the past several months, a big shift on the Formula One grid has been rumored for next season, but with a big piece of the puzzle now confirmed, much of the speculation can end. Ferrari has announced that it is parting company with Fernando Alonso and bringing in Sebastian Vettel to take his place. The move is a big one for both drivers – each multiple World Champions in their own right – who have lead their respective teams for half a decade now, Alonso coming second in the championship three times with Ferrari, and Vettel having scored four consecutive titles with Red Bull. Vettel has long been a personal protege of former Ferrari driver Michael Schumacher, having won his first grand prix in a Ferrari-powered Toro Rosso at Monza in 2008. Now confirmed by the Scuderia for a three-year deal, Vettel will be driving next season alongside Kimi Raikkonen, who won the title for Ferrari in 2007. That was the same year in which Alonso last drove for McLaren, the team for which he's all but confirmed to be driving next season. The announcement from Woking reportedly hinges on the team's decision over who will drive alongside him, between Jenson Button, Kevin Magnussen or another driver altogether. The confirmation from Ferrari does, however, put to rest wild rumors that the series would move to three-car teams and that Maranello would field Alonso as well as Vettel and Raikkonen. Welcome Sebastian – Vettel and Raikkonen 2015 driver pairing Maranello, 20 November 2014 – Scuderia Ferrari announces that it has reached an agreement of three years duration with Sebastian Vettel, who will drive for the team as from the 2015 season. The driver line-up next season will consist of Kimi Raikkonen and Sebastian Vettel. "Scuderia Ferrari has decided to put its faith in the youngest multiple champion in the history of Formula 1" – commented Scuderia Ferrari Team Principal, Marco Mattiacci. "In Formula 1 terms, Sebastian Vettel is a unique combination of youthfulness and experience and he brings with him that sense of team spirit which will prove invaluable when, together with Kimi, they tackle the challenges awaiting us, as we aim to be front runners again as soon as possible.

Ferrari stock sale pegged for October, or later

The Ferrari IPO is still coming, but it won't be before Columbus Day (Monday, October 12, that is), according to Fiat Chrysler Automobiles CEO Sergio Marchionne. The outspoken exec is blaming tax reasons for the fourth-quarter date, according to a report from Reuters. Marchionne said a full year needed to pass between FCA's October 13, 2014 Wall Street debut and any additional listing. This isn't the first delay in the Ferrari IPO. FCA was originally supposed to make a 10-percent offering of Ferrari during second or third quarter of 2015, before officially pushing things back to the third quarter of this year. Now, it's unclear if Ferrari will even go public before the dawn of 2016. Related Video: News Source: ReutersImage Credit: Marco Vasini / AP Earnings/Financials Government/Legal Chrysler Ferrari Fiat Sergio Marchionne FCA fiat chrysler automobiles

Is the $1.4M LaFerrari sold out?

If you look at the stratospheric sticker prices on the latest generation of hypercars and wonder how an automaker could possibly justify it, bear in mind a few factoids. For one thing, even when the sticker prices start lower, they quickly balloon past the million-dollar mark. For another, automakers charge that much because they can, and don't seem to have much trouble selling them all.
Case in point: the new LaFerrari. While presenting the state-of-the-art supercar on CNBC, Ferrari North America CEO Marco Mattiacci revealed that all 499 examples that will be made of the hybrid hypercar - including those 120 earmarked for North America - have already been spoken for. This despite the $1.4 million asking price that makes it the most expensive Ferrari ever made.
Or the most expensive new Ferrari, we should say, because prices for the most collectable machines ever to roll out the gates at Maranello continue to rise. Figure you'll save a little and get LaFerrari's predecessor? Trading hands these days at prices approaching $2 million (around three times its original $660k MSRP), the Enzo is even more expensive. And that's just the scarlet tip of the iceberg.