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Ferrari families have 'agreement' to prevent takeover

With its initial public offering already a massive success, Ferrari is now officially a publicly traded company on the New York Stock Exchange. While anyone can buy those shares, don't expect investors to take control away from some of the top owners of the Prancing Horse anytime soon. To maintain their power, Enzo Ferrari's son, Piero, and Exor chairman John Elkann will sign a deal guaranteeing themselves nearly half of the automaker's voting rights, Bloomberg reports. As part of this arrangement, shareholders that agree to hang onto Ferrari stock for at least three years would receive additional voting rights in the company, and that would give Piero and Elkann a combined 48.7 percent of the automaker by banding together. While not quite complete control, the move should be enough to prevent a takeover of the business. "We have an agreement among the families to protect our interests in Ferrari," Piero said to Bloomberg. This agreement won't really become a concern until next year because only 10 percent of Ferrari will be traded for now. FCA will distribute another 80 percent to its shareholders in early 2016, and Elkann's Exor will be getting the largest portion of the Prancing Horse in the spin-off. Meanwhile, Piero holds the remaining 10 percent but has absolutely no intention to sell his stake in his father's business. The newly public Ferrari will push to grow volume with a goal of moving 9,000 vehicles annually by 2019. To reach that 30-percent boost, expect to see a new model every year, and some of them might use a new, modular platform that's reportedly under development. Related Video:

Jay Leno gets five of Ferrari's greatest hits together for an epic track day

America's favorite car guy, Jay Leno, isn't a huge fan of Ferrari. But even he can't stop from gushing over five of Ferrari's greatest cars. Thanks to David Lee, a Ferrari collector and watch dealer, Leno got to drive a Ferrari LaFerrari around a track with the Enzo, F50, F40, and 288 GTO close behind. The short five-minute clip has Leno driving conservatively behind the wheel of the LaFerrari and cautiously enjoying the supercar's 950-horsepower hybrid powertrain. Lee brings up the rear of the Ferrari train in his 288 GTO, while his brothers took the other three Italian supercars onto the track for a leisurely drive. Lee, who is an avid Ferrari collector that brought Leno his 1967 275 GTB4 to drive earlier this year, drives these Ferraris regularly and is extremely passionate about the brand. Despite not being one of Ferrari's biggest fans, Leno has nothing but good things to say about the LaFerrari. The five Ferraris are some of the most sought-after vehicles of all time, and for good reason. The supercars represent the best that Ferrari could do at each of those moments in time. Though it looks like Leno and Lee are going painstakingly slow, they're surrounded by an estimated value of $12 million worth of Italian metal. With a new season of Jay Leno's Garage set to premiere tomorrow at 10 p.m. Eastern Time on CNBC, we're expecting more more footage from this Ferrari fest. Related Video: News Source: Jay Leno's GarageImage Credit: Jay Leno's Garage / YouTube Celebrities Ferrari Coupe Hybrid Lightweight Vehicles Racing Vehicles Performance Supercars Classics Videos Jay Lenos Garage ferrari laferrari ferrari f40

Ferrari California T has a turbo V8 lurking under new nose [w/video]

The Ferrari California might technically be the Prancing Horse's entry-level model, but there is nothing basic about the latest upgrade for the California T. Showing its face to the public for the first time at the Geneva Motor Show, it is now propelled by a 3.9-liter, turbocharged V8 with 560 horsepower and 557 pound-feet of torque, which equates to an extra 70 hp and a 49 percent increase in torque over the previous engine.
The forced induction mill is enough to accelerate it to 62 miles per hour in 3.6 seconds. Also not that many Ferrari buyers are going to care, but the switch also means a 15 percent improvement in fuel economy. Oh, and based on the video preview below, it sounds pretty good, too.
While the new engine is certainly the headline grabber, there are other upgrades as well: a top that closes in 14 seconds, new steering box, improved magnetic dampers and an upgraded traction control system. Pininfarina also reshaped the nose to make it more look like Ferraris of the 1960s. This is seems to be the best looking and performing California yet.