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Ferrari celebrates at Hong Kong's Asia World Expo

More than 600 Ferrari models, representing every era of the famed automaker's production, celebrated 30 years of presence in Hong Kong with a gathering at the Asia World Expo this past weekend. The event marked the largest single gathering of Maranello's sports cars ever organized in China. The weekend culminated with Marc Gene, Scuderia Ferrari's test driver, unveiling the new 458 Speciale.
There are only about 1,700 Ferrari owners in China, and they boast an average age of just 35 years. The young clientele in the Asian market often take advantage of Ferrari's 'Tailor Made' bespoke program and they have a growing interest in racing. The automaker says that many will travel to the Mugello circuit in Italy to participate in the final event of the Asia Pacific series of the Ferrari Challenge in a couple weeks.
"I am pleased to be here to celebrate Ferrari's thirty years in Hong Kong, along with so many owners who share our passion and the search for excellence, exclusivity and innovation," said President Luca di Montezemolo. The video shows hundreds of Ferraris, in popular white, yellow and red, being arranged indoors to form the Bauhinia Blakeana, a five-pedal flower that is the characteristic symbol of Hong Kong. Apparently owners of the more exclusive Blu Scozia, Avio Met and Vinaccia colors were asked to park outside. Scroll down below for a video and press release detailing the event.

Ferrari extends Kimi Raikkonen's contract for 2016

Veteran Formula One driver Kimi Raikkonen's second stint with Ferrari will continue in 2016, and the team announced Wednesday it's extending the Finn's contract for another season. Financial terms were not disclosed. The 35-year-old is fifth in the driver's standings this year with 76 points heading into this weekend's Belgian Grand Prix. Nicknamed the "Ice Man," Raikkonen won the 2007 World Championship with Ferrari. He left the Scuderia in 2009 and dabbled in World Rally Championship and NASCAR competition, before returning to F1 in 2012 with Lotus. He's been back with Ferrari since the 2014 season. "We believe that extending Kimi's contract into the next season will provide further stability to the team," team principal Maurizio Arrivabene said in statement. "This has been our guideline, also considering the very good relationship between Kimi and Seb [Sebastian Vettel]. On our side, this shows our great confidence in him, and I expect this confidence to be well-rewarded." Raikkonen has teamed with Vettel (who's third in driver's points) to key the Scuderia's bounce-back season. Ferrari, the sport's oldest and most successful team, is second in the constructor's standings this year with 236 points, trailing Mercedes (383). "For me, to be able to stay another year at Ferrari means that the dream goes on," Raikkonen said in a statement. "The Scuderia is my family, as I always said, it's here I want to end my career. I am more committed than ever and I want to say thank you to the people who gave me this chance." The announcement comes as Ferrari prepares for its historic 900th grand prix. It's won 16 races in Belgium, including 12 victories as Spa-Francorchamps. The team's most recent win there was in 2009 – by Raikkonen. Related Video:

Ferrari CEO Amedeo Felisa reportedly stepping down [UPDATE]

Update: In a statement to Autoblog, Ferrari USA predictably responded: "We do not comment on rumors. There is no announcement at this time." Rumors are currently swirling in the European media that Ferrari CEO Amedeo Felisa (pictured above) is stepping down from his position at the Prancing Horse. An exact timeframe isn't clear at this time. Motori Online from Italy indicates Felisa might not leave the company until September, whereas Autocar reports that he has already resigned from the Italian automaker. Autoblog has reached out to Ferrari for clarification, but the Maranello-based firm has not yet officially confirmed any of this speculation. Felisa has been the company's CEO since 2008 when Jean Todt stepped down. He joined Ferrari in 1990 as the director of product development and became general manager there in 2006. Felisa was also among people thought possible to take the role as chairman when Luca di Montezemolo left the Prancing Horse last year. Sergio Marchionne retained that role. If these rumors prove true, Felisa's departure would be the biggest corporate shakeup at Maranello since di Montezemolo's departure. The move would also come at a time that's not particularly pleasant for Ferrari or its corporate parent. Marchionne recently indicated that the Prancing Horse was just days away from filing the prospectus for its imminent initial public offering. The Fiat Chrysler Automobiles executive had previously put Ferrari's value at around $11 billion. So far, all we have are rumors and reports, but as soon as we know more, so will you. Stay tuned.