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Jeep and Ram could be spun off from FCA, says Marchionne

Jeep is surely the biggest single feather left in the cap of the Fiat Chrysler Automobiles portfolio. Under Sergio Marchionne's leadership, Jeep went from fewer than 500,000 annual sales in 2008 to 1.4 million in 2016, and is on track for 2 million by 2018. Add in the brand's legacy, status as one of the most recognizable nameplates in the world, and rabid fan base, and Jeep has extraordinary monetary value to its parent company. Investors and analysts have certainly noticed Jeep's inherent value. According to The Detroit Free Press, Morgan Stanley's Adam Jonas asked FCA chief Sergio Marchionne if he would ever consider spinning Jeep and Ram, FCA's dedicated truck brand, into a separate corporate entity, and he responded with a simple "Yes." Jonas estimated Jeep's worth in January of this year at $22 billion. Ram was valued at $11.2 billion. Marchionne has a history of spinning off brands while keeping them part of FCA's corporate umbrella. The most noteworthy example of this value maximization was with Ferrari, which now trades on the New York Stock Exchange and rakes in $3.4 billion in annual revenue and close to $435 million in net income, reports the Free Press. Marchionne still serves as chairman and CEO of Ferrari, and Fiat heir John Elkann owns 22 percent of the Italian marque's shares. Even if the offloading of Jeep and Ram into a separate entity would amount to little more than a profit-driven ownership change on paper, it would be huge news to the brands' loyal fanbases. In any case, such a move would likely take years to actually happen and probably wouldn't mean much at all to the products that Jeep and Ram produce. In other words, Jeep fans can keep the pitchforks in the shed ... for now. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Florida aquaman drives a Ferrari straight into the drink

Often the worst and most annoying part of security footage is that there is no sound to the video. Viewers are left to their own imaginations as people on camera are seen doing strange or dumb things. A recent video from Florida has us wishing a police officer would have been mic'd up for a conversation he had moments before a person got into a Ferrari and drove it right into a body of water. Reported by WPTV and blogged by Car Throttle, the dash camera on a police car caught 48-year-old James Mucciaccio Jr. doing something that makes absolutely zero sense (before the Florida bath salts jokes come out, neither drugs nor alcohol were involved). The morning of Dec. 26, a police officer got out of his cruiser and approached a blue Ferrari 360 that was parked on a gated dock on the Palm Beach Inlet just off of the Atlantic Ocean. Based on the soundless video, it appears Mucciaccio and the officer had a civil conversation likely suggesting that the car couldn't be parked there. Mucciaccio then hustled to get into the car and looked to be backing out of the dock. But before he passed the gate, he stopped, then switched out of reverse as evidenced by the blinking lights on the car. He then gunned it and drove the Ferrari straight off the dock and into the water. Considering the interaction seemed to be completely calm, it's mind-boggling trying to imagine what Mucciaccio was thinking, if it was indeed on purpose. And no, there is no word yet as to why exactly he did what he did. According to the report, Mucciaccio was not injured and was rescued by a friendly observer. After the Ferrari sank 30 feet to the bottom, it was pulled out using inflatables. For more photos of the crashed Ferrari both above and below water, check out images from the Code 3 Divers here. Surprisingly, this is not the first time Code 3 has pulled a Ferrari out of the water. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

1962 Ferrari 250 GTO Sells For $38 Million At Auction

A 1962 Ferrari 250 GTO became the most expensive car ever sold during an automotive auction Thursday night when a buyer paid $38 million for the vehicle at a Bonhams event. Only 39 of the racers were ever built, and it is a favorite among collectors. One reportedly sold for $52 million in a private sale. If true, it would be the most expensive car ever purchased. Another Ferrari GTO built for legendary racecar driver Stirling Moss sold for $35 million in 2012. Thursday's sale broke the auction record set at a Goodwood auction last year of a Mercedes W196R that was driven by Juan Manuel Fangio to wins in the 1954 German and Swiss Grand Prix races by $8 million. Pretty good for a car that went to the auction block with no reserve, meaning there was no minimum price set for the sale of the car, though bidding started at $11 million, according to the Los Angeles Times. The Ferrari 250 GTO was the star of the show, but it wasn't the only rare Ferrari on the auction block. Bonhams brought ten of the most collectable Ferraris in the world on stage, including a 1962 250 GT Short-Wheelbase Speciale Aerodinamica that went for $6.875 million, a 1953 250 Mille Miglia Berlinetta driven to racing victory by Phil Hill for $7.26 million and even a 1978 312 T3 Formula One car for $2.31 million. All told, the Ferraris sold for $65.945 million, according to Autoblog.