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Fiat Chrysler denies rumors that Ferrari SpA is moving to London

It seems that reports of Ferrari's relocation to London have been somewhat exaggerated. The past few days have seen more than a few stories on the legendary Italian brand's decision to move its tax base out of Italy, and now Fiat Chrysler is speaking out against the scuttlebutt. "These rumors have no grounds," FCA said in a statement obtained by Reuters. "There is no intention to move the tax residence of Ferrari SpA outside Italy, nor is there any project to delocalize its Italian operations, which will continue to be subject to Italian tax jurisdiction." Ferrari's move to London was based on two beliefs. First, that the company would benefit from being located nearer the investor community, should it be listed on a European exchange. FCA, though, said a European listing was only a "possibility," according to Reuters. Instead, the company will be listed on an American market. Aside from the move to benefit investors, it was believed Ferrari was looking to relocate to escape Italy's more oppressive corporate tax rate, which sits around at 31.4 percent, compared to the UK's 20 percent, Bloomberg reports. This denial by Fiat Chrysler, though, should be enough to close the book on Ferrari leaving Italy, no matter how much sense it might make. Related Video:

Ferrari 488 GTO possibly revealed in new spy shots

As every new Ferrari debut approaches, enthusiasts worldwide can't wait to pore over each and every photo, video and spec sheet. That's why these new spy photos have us so excited. It looks like the engineers at Maranello are cooking up a new variant of the 488 GTB. We're not exactly sure what it may be, but our Italian spy photographer believes this might be a new high-performance variant that could be called the GTO. The past few generations of Ferrari's mid-engine V8 sports cars have gotten a late-life performance kick that results in a hot new model. See: 360 Challenge Stradale, 430 Scuderia and 458 Speciale. These new models ditch nearly every creature comfort in the pursuit of speed and power. Engines are cranked up, suspension geometry is reworked, and the bodywork is adjusted for aerodynamic efficiency. While we can't see what's changed under the skin, these prototypes do appear to have slightly different bodywork than the standard 488 GTB. The most notable changes are to the front end and rear fenders. The front intakes appear to be the same size and shape, but the splitter hanging out front looks like it's been reworked. Around to the side, the large air intakes just behind the doors look larger than before. This all leads credence to this being the 488 GTO – especially given the turbo connection between the original 288 GTO and the 488. Still, this could be something milder, although that's less likely. There's been rumors for a while that Ferrari have been working on a less expensive mid-engine car that will be called the Dino. We've seen other test mules running around that some claim were powered by the Ferrari-built twin-turbo V6 in the Alfa Romeo Giulia. Either way, a new Ferrari is always something to look forward to. Related Video:

New ‘Magnum P.I.’ has fake Ferrari, fake Tom Selleck

Wait, that's the new "Magnum P.I."? That guy? Really? I mean, he doesn't need to have a mustache. Or a Hawaiian shirt. Or really short shorts. But come on, there's nothing displayed by Jay Hernandez in the above "Magnum P.I." trailer that says, "I have charisma and likability comparable to Tom Selleck." Now, is that even possible? Probably not, Tom Selleck is, well, Tom Selleck. But much as Chris Pine successfully captured Captain Kirk's bravado without doing a William Shatner impression, something close is possible. But hey, there's a red Ferrari! It's a 458 Spider, it gets shot to pieces and then smashed by a truck. Of course, the keen, sleuthful eye of our Jeremy Korzeniewski notes that it isn't really a Ferrari and instead is likely a GM F body underneath (look for the round instrument cluster in the brief interior shot and the weirdly shaped HVAC vents at the 10 and 2 o'clock positions). So, the Ferrari's a fake too. But wait! New Magnum also seems to drive old Magnum's car: a Ferrari 308 GTB. It also gets destroyed. (Seriously, spoilers much?) This time it's totally CGI'd so I'm guessing the GTB is for the most part the real thing. Hawaii also seems to be the real thing. So, does this make you want to watch the new show, coming this fall to CBS? Alternatively, you could probably stream the old show somewhere. Oh Tom Selleck, you charming devil, you. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Celebrities TV/Movies Ferrari Videos