2006 Ferrari F430 Coupe on 2040-cars

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EVO dubs Ferrari 458 Speciale its Car of the Year

While some publications are concerned with finding the best car or truck for the average buyer and slapping a ribbon on it, or (in our case) identifying the best new automotive technology of the year, across the pond our compatriots at Evo are more single-minded in their approach. Every year, the British car mag awards its Car of the Year to its top new performance automobile on the market. And this year, they've picked the Ferrari 458 Speciale. The stripped-out supercar from Maranello beat out some heady competition. Second place went to the Jaguar F-Type R, followed by the Porsche Cayman GTS, VW Golf R, Renaultsport Megane 275 Trophy-R, BMW i8, McLaren 650S Spider, Aston Martin Vanquish, BMW M3 and, last but not least, the Audi S1. It was only the second time a Ferrari won the eCOTY award, after the 599 GTB Fiorano took top honors in 2006. Precedent suggests the magazine typically hands the award to a version of the Porsche 911 – like the GT3 that won last year, preceded by other Elfens in 2011, 2010, 2007, 2004, 2003, 2000, 1999 and 1998 (when the award was inaugurated). Why is the latest 458 derivative so... Speciale? Watch this video to find out.

Fiat Chrysler begins Magneti Marelli spinoff

MILAN — Fiat Chrysler has kicked off its planned spinoff of parts maker Magneti Marelli, which will be registered in the Netherlands and listed on the Milan stock exchange, a document outlining initial plans and seen by Reuters showed. The spinoff is part of a plan by FCA Chief Executive Sergio Marchionne to "purify" the Italian-American carmaker's portfolio and to unlock value at Magneti Marelli similar to his earlier spinoff of Ferrari. Analysts say Magneti Marelli could be worth between 3.6 billion and 5 billion euros ($4.2 billion to $5.8 billion). It sits within FCA's components unit alongside robotics specialist Comau and castings firm Teksid. FCA has created a separate entity called MM Srl, the document showed, into which it will fold Magneti Marelli's electronics and electro-mechanical operations related to racing motorbikes and racing cars, as well as 14 other holdings in various companies around the world, including Germany, Slovakia, Mexico and South Africa. MM will be incorporated into a Dutch holding company via a cross-border merger, it added. FCA declined to comment. The move follows a similar procedure adopted by FCA for the spinoff and listing of Ferrari as well as of trucks and tractor maker CNH Industrial, both registered in the Netherlands and listed in Milan. The Dutch holding company would allow Marchionne, known for his success in extracting shareholder value through this strategy, to introduce a loyalty share scheme to reward long-term investors through multiple voting rights, as was the case with CNH and Ferrari. That would tighten the grip of FCA's controlling shareholder Exor, the Agnelli family's investment holding company, on the parts maker. Magneti Marelli, which employs around 43,000 people and operates in 19 countries, is a diversified components supplier specialized in lighting, powertrain and electronics. The Magneti Marelli separation is expected to be completed by the end of this year or early 2019, FCA has said. FCA's advisers initially looked at a possible initial public offering for the business to raise cash to cut FCA's debt, but the Agnelli family — FCA's main shareholder — was put off by low industry valuations and did not want its stake in Magneti Marelli to be diluted, three sources close to the matter told Reuters in March. Magneti Marelli has often been touted as a takeover target, and FCA has fielded interest from various rivals and private equity firms over the years.

Race Recap: 2013 Malaysian Grand Prix is a fool in the rain

Humidity, hunger and heartbreak were the takeaways from the Malaysian Formula One Grand Prix. A proper track with a wider variety of straights and corners than the street circuit in Australia, the second race of the season was expected to be a better test of the performance of the 11 teams on the grid. It was also supposed to be a more accurate test of the Pirelli tires, the bits of rubber at the four corners of the car still at the top of the performance agenda for all the top teams except for McLaren, which even larger issues with its new car to deal with.
Then it rained. Then it rained some more. Then it rained so hard just before the race that numerous drivers slid off the track on the parade lap. Then came the race, and then came the figurative tears and ones of the crocodile variety as well.