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Ferrari 458 Speciale buyers told to spec options to secure orders

Want to get your hands on a Ferrari 458 Speciale? You're in good company, because demand for what could be the last naturally aspirated V8 supercar from Maranello is apparently soaring. As a result, some buyers who've already placed their orders are reportedly being "advised" to add on extra options or risk losing their place on the waiting list to someone who will. The news comes from UK-based Magnitude Finance, whose director Tim Marlow said, "One client ordered the car many months ago but he was subsequently advised to increase the options he selected to guarantee delivery simply because others are prepared to go pay over the odds to get one new." Another Magnitude client was asked by the dealer "on five occasions to say others wanted to buy it if he changed his mind." Reached for comment, Ferrari spokesperson Krista Florin told Autoblog: "As with any Ferrari, customization is offered as a service to make each car unique. However, there are no requirements in order to secure an order." The options list on the 458 Speciale can add up fast. Active headlights add over $2,500 to the price, fitted luggage nearly $11k, leather interior and front lift system a solid $6k each and those NART stripes another $11k. Ordering items like the engine cover ($7.8k), rear diffuser ($9.6k) and outer sill cover ($10k) in carbon fiber can add to the $288k base price as quick as the Speciale can gather pace. That's how our recent tester ended up topping $336k – and that's if we could actually get one. Part of the demand is surely coming from moneyed enthusiasts keen to take possession of one of the finest mid-engined supercars Ferrari has ever made, but the demand and values are surely being driven up as well by speculators. "Everyone we speak to sees this as the next appreciating model over the long-term like the 360 Challenge Stradale and 430 Scuderia 16M before it," added Marlow, "so demand is really high." We can only imagine that demand has been even higher for the convertible version, as Ferrari will only make 499 examples of the 458 Speciale A, putting the roadster in an even more rarified class. Ferrari 458 Speciale demand (Leeds: UK. November 2014). Customers are going to extraordinary lengths to buy the Ferrari 458 Speciale, luxury car finance specialist, Magnitude Finance, reveals. Earmarked as a potential collector's item, some prospective buyers have been told a GBP20,000 deposit would only put them on a list of 'possible clients' but not guarantee an order.

Ferrari officially files SEC paperwork to register future IPO

Late last year FCA announced plans to spin off Ferrari into a separate company, and after a long wait that process has finally become official. The Prancing Horse has now filed the necessary prospectus and other documents with the Securities and Exchange Commission to hold an initial public offering on The New York Stock Exchange. The paperwork doesn't mention a specific date for the Italian sportscar maker's IPO, but it's expected sometime in October. At this point, the documents also don't include some other vital data about the IPO. Ferrari lists neither the number of shares being offered nor their price. The company also doesn't have a stock symbol yet. UBS, BofA Merrill Lynch and Santander are acting as joint book runners for the deal. As part of the IPO, FCA initially intends to sell 10 percent of Ferrari's shares on the stock market. Another 10 percent of the company still belongs to Piero Ferrari. FCA is holding onto the remaining 80 percent in the short term for financial reasons but intends to distribute them to shareholders in early 2016. After the spin-off, about 24 percent of Ferrari would be owned by Exor, 10 percent by Piero Ferrari, and 66 percent by public shareholders, according to the SEC documents. FCA boss Sergio Marchionne believes that Ferrari could be worth over $11 billion. Although, his estimate might be slightly high. According to Reuters, Wall Street is actually putting the value somewhere between $5.5 billion and $11 billion. If you're thinking about investing in the company or just want to read the nitty-gritty about the brand's financial health, the entire SEC filing can be read here. Ferrari Files for Initial Public Offering LONDON, July 23, 2015 /PRNewswire/ -- Fiat Chrysler Automobiles N.V. ("FCA") announced today that its subsidiary, New Business Netherlands N.V. (to be renamed Ferrari N.V.), has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission ("SEC") for a proposed initial public offering of common shares currently held by FCA. The number of common shares to be offered and the price range for the proposed offering have not yet been determined, although the proposed offering is not expected to exceed 10% of the outstanding common shares. In connection with the initial public offering, Ferrari intends to apply to list its common shares on the New York Stock Exchange.

Stellantis reports $15B profit in first year of merger

FRANKFURT, Germany — Automaker Stellantis said Wednesday that it made 13.4 billion euros ($15.2 billion) in its first year after it was formed from the merger of Fiat Chrysler Automobiles and PSA Group. The earnings nearly tripled profits compared with its pre-merger existence as two separate companies, as the maker of Jeep, Opel and Peugeot vehicles exploited cost efficiencies from combining the businesses. The result compared to a combined 4.79 billion euros for the separate companies in 2020 before the merger, which took effect on Jan. 17, 2021. Revenue for the combined business rose 14%, to 152 billion euros. CEO Carlos Tavares said the results “prove that Stellantis is well positioned to deliver strong performance" and had overcome “intense headwinds” during the year. Automakers have struggled with shortages of key parts such as semiconductor electronic components and rising costs for raw materials as the global rebound from the worst of the coronavirus pandemic brings more demand. The company said the benefits of the merger were worth some 3.2 billion euros during the year. Mergers can lead to streamlined costs as companies combine functions and spread fixed costs over a larger revenue base. The company accelerated its rollout of battery-powered vehicles, with sales of low-emission vehicles reaching 388,000 — an increase of 160%. Stricter environmental regulations in Europe and China are pushing automakers to roll out more electric vehicles with longer range. Stellantis started production of a hydrogen fuel cell commercial van under its Opel brand in December. Stellantis' other brands include Chrysler, Citroen, DS, Fiat, Maserati, Ram and Vauxhall. Related video: Earnings/Financials Chrysler Dodge Ferrari Fiat Jeep RAM Citroen Opel Peugeot Vauxhall