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FCA delays distribution of Ferrari shares

Even if you can't afford an actual Ferrari, soon you can own a part of the famous company thanks to its upcoming initial public offering. FCA will put 10 percent of the Prancing Horse on the market in the third quarter of this year. However to reap extra money for 2015's bottom line, the rest of the sports-car maker's stock will remain undistributed for a little longer. According to Automotive News, the strategy is quite simple to understand. FCA is holding off until the first quarter of 2016 to divvy up the remaining Ferrari stock to shareholders. By doing so, the automaker gets to claim 80 percent of the Prancing Horse's profits for its 2015 financial numbers. While FCA is already showing strong results through Q1 2015, being able to add extra cash on the balance sheet is always a plus. FCA hasn't set a specific date for the IPO, but Ferrari stock was announced to be traded in the US and possibly on a European exchange, as well. According to Automotive News, FCA currently owns 90 percent of the company, and Piero Ferrari has the remaining 10 percent, which he isn't selling. Related Video:

European Auto Group in Texas building a six-speed manual Ferrari 458

In February, European Auto Group in San Antonio, Texas, went public with our kind of wonder car: A Ferrari F430 Scuderia with a gated six-speed manual transmission. The standard F430 did offer a six-speed manual from the factory; the hardcore Scuderia version did not. It took a lot of work, and EAG apparently did the work right; Matt Farah called the coupe "The world's greatest Ferrari." CarBuzz spoke to EAG owner Art Bartosik about what's next, and Bartosik spilled just a bit of goss about the car he'll soon reveal: a Ferrari 458 with a gated six-speed manual. Whereas the 430 Scuderia didn't offer a stickshift, the 458 Italia wasn't even designed with one in mind. The 4.5-liter V8 with 562 horsepower and 398 pound-feet of torque only ever swapped gears with the Italian carmaker's dual-clutch F1 transmission. The 458 has a manageable 52 hp and 51 lb-ft more than the F430 Scuderia, but EAG needed to work up a gearbox to fit the available space. Bartosik didn't divulge how he made that happen for the 458. The reworked F430 Scuderia used all OEM Ferrari parts since they were available; not so for the later car. The DuPont Registry said EAG built "a transmission with upgraded synchros" to handle the additional power, had to find a suitable clutch and suggests the firm went through a lot of prototypes, but doesn't ID the gearbox source. All Bartosik would tell CB is that there's a limited supply and he'll "only be able to build around 10 or 11 of them." Seems there are already more customers than that ready to wire funds for purchase, unsurprisingly. Bartosik said, "People are screaming for a manual 458 and 488. If the demand wasn't there, we wouldn't do it." A final development car is a few months away, with customer builds scheduled to begin in January 2020. And what might EAG do after the run is complete? Maybe a six-speed manual Lamborghini Huracan, which owners have already asked about. "The Huracan should be easier than Ferrari," Bartosik said, "because there's hidden stuff in there that gives us more flexibility." Seems manual gearboxes, like life in "Jurassic Park," will always find a way.

1959 Ferrari 250 GT California sells for nearly $18M, exceeding expectations

RM Sotheby's just wrapped up its auction in New York, where it sold off a pair of gorgeous silver roadsters, with one of them selling for the incredible price of $17.99 million. That car was a 1959 Ferrari 250 GT LWB California that we covered previously, and Sotheby's was only expecting it to go for between $14 million and $17 million. Apparently someone felt the car's rare aluminum construction and racing history was worth the extra cash. View 11 Photos The other roadster went for considerably less money but was notable because of its previous owner, late Apple CEO Steve Jobs. The car is a 2000 BMW Z8 that the tech mogul had for around three years. The final sale price only met expectations, though, at $329,500. The original auction estimate was between $300,000 and $400,000. Related Video: Featured Gallery 1959 Ferrari 250 GT LWB California Spider Competizione by Scaglietti View 30 Photos Image Credit: Diana Varga courtesy of RM Sotheby's, RM Sotheby's Celebrities BMW Ferrari Auctions Convertible Racing Vehicles Performance Classics bmw z8 ferrari 250 gt california