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Sebastian Vettel's 13-race losing streak reflects Ferrari's struggles

MONACO — Sebastian Vettel's barren spell with Ferrari stretches to a dismal 13 Formula One races without a win, dating back to the Belgian Grand Prix last August. The veteran driver still holds No. 1 status at Ferrari mainly because of his experience. At times this season he has been slower than Charles Leclerc, his young and highly-motivated colleague keen to make an impression in his first season with the team. When asked if Vettel's performances had fallen below expectations for a four-time world champion, team boss Mattia Binotto defended him and said the problems were not down to the 31-year-old German. "First we need a good car ... which is performing sufficiently well to win," Binotto said. "It may be frustrating for him, no doubt. But first it's our duty to give him (one) that he can perform well (in)." The car is apparently not an issue Ferrari had anticipated. After strong performances in pre-season testing, it was touted as the team to beat, and even five-time champion Lewis Hamilton — winner of the past two championships — said so. But Hamilton and Mercedes teammate Valtteri Bottas have won all five races this season while Ferrari has a measly three podium places. The team's last win was by Kimi Raikkonen at the United States GP last October, two months after Vettel's victory in Spa. While Mercedes is all about smooth running, Ferrari's car is blighted by a front suspension issue, a deficit in cornering speed and such basic trouble as getting enough heat into the tires quickly enough. Ferrari's passionate tifosi fans, who are waiting for a first drivers' title since Raikkonen in 2007, are not happy with the current standings. Vettel is fourth, nearly 50 points behind championship leader Hamilton, while Leclerc is fifth. "After winter testing our confidence in the performance was higher than today," Binotto said with an air of resignation. "There are a lot of points to recover." Binotto has been with Ferrari a long time and was promoted from chief technical officer to team principal in January. He took over the role from Maurizio Arrivabene after two frustrating years in which Ferrari blew the title race, due to a bizarre combination of panicky errors from Vettel and a string of baffling strategical and technical mistakes within the team. Now there are worrying echoes of 2016 — when Ferrari failed to win a single race and Mercedes crushed its rivals.

Stellantis not looking for further mergers, including with Renault

MILAN — Stellantis Chairman John Elkann on Monday denied the carmaker was hatching merger plans, responding to press speculation about a possible French-led tie-up with rival Renault. Elkann said that the Peugeot owner, the world's third largest carmaker by sales, was focused on the execution of its long-term business plan. "There is no plan under consideration regarding merger operations with other manufacturers," said Elkann, who also heads Exor, the Agnelli family holding company that is the largest single shareholder in Stellantis. After abandoning the Russian market, at the time its second largest after France, and reducing the scope of its global cooperation with Nissan, Renault has been seen as a potential M&A target. Speculation intensified after an electric vehicle market slowdown forced it last week to cancel IPO plans for its EV and software unit Ampere. Its market cap remains stubbornly low at little over 10 billion euros ($10.8 billion) despite a financial recovery over the past few years. Stellantis, the product of a 2021 merger between France's PSA and Fiat Chrysler and one of the most profitable groups in the industry, has a market cap of more than 85 billion euros when unlisted shares are factored in. It has a 14 brand portfolio also including Citroen, Jeep, Opel and Alfa Romeo. NEWSPAPER REPORT Italian daily Il Messaggero had said on Sunday that the French government, which is Renault's largest shareholder and also has a stake in Stellantis, was studying plans for a merger between the two groups. A spokeswoman for Renault said on Monday the group did not comment on rumors. France's Finance Ministry had declined to comment on Sunday. Stellantis has crossed swords with the Italian government, which has accused it of acting against the national interest on occasions. Industry Minister Adolfo Urso last week raised the prospect of the Italian government taking a stake in Stellantis to help to balance the French influence. Renault shares pared gains after Elkann's comments to stand 1.2% higher by 1220 GMT, having initially risen more than 4%. Stellantis CEO Carlos Tavares, a Portuguese-national, last week said in an interview with Bloomberg that the group was "ready for any kind of consolidation" and that its job was to make sure that it would be "one of the winners". Analysts, however, question the rationale of a Stellantis-Renault merger, which would also expand the group's excess capacity in Europe.

1963 Ferrari 250 GTO sells for $70 million

The Ferrari 250 GTO is well-known as one of the most valuable cars on Earth, and quite rare with just 39 examples built. It's a reputation backed by incredible sale prices, one of the most recent being an auction record of $38 million at Bonhams' Monterey auction in 2014. Not all of them cross the auction block, and one reportedly was sold in a private sale for a stunning $70 million, thought to be the highest price ever paid for a car. The price and the sale was confirmed by Fox News after the news outlet talked to a Ferrari historian. It was reportedly sold to American businessman. The duPont Registry reported on the sale a little earlier, having learned of the sale in a forum, and notes that the buyer may have been David MacNeil, CEO of WeatherTech, the company that makes and sells various floor mats and cargo-area covers. MacNeil is a Ferrari collector and driver and may well show and drive the car in vintage races and rallies. Not only does this price exceed the last auction price, it exceeds the last rumored private sale price. Back in 2013, a 250 GTO reportedly sold for $52 million. That particular car shared some of the racing heritage of this new record setter, including a win in the Tour de France, a race that was commemorated in the name of the Ferrari F12 TdF. Related Video: