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Ferrari worth over $11 billion, says Marchionne ahead of IPO

We all know that cars from Ferrari sell for hundreds of thousands, if not millions of dollars. But how much is Ferrari worth as a company? At least ten billion, according to its chairman. Speaking at the launch of the revised Fiat 500 in Turin on Friday, Fiat Chrysler CEO and Ferrari chairman Sergio Marchionne said he expected the vaunted Maranello-based supercar manufacturer and racing team to be valued at over 10 billion euros, or about $11 billion at current exchange rates. As Bloomberg points out, that would make Ferrari alone account for some 60 percent of the value of its parent company Fiat Chrysler Automobiles, which is currently valued at over 16 billion euros. That may seem like an aggressive estimate, but we won't have to take Marchionne at his word for long. After having floated an Initial Public Offering on the New York Stock Exchange last year, Fiat Chrysler is preparing to do the same with its Ferrari unit as soon as October. FCA will not, of course, be selling off all of its shares. The projected scheme would have ten percent (worth about one billion by Marchionne's estimates) of Ferrari's shares floated on the NYSE. Another 10 percent is expected to remain in the hands of founder Enzo's son (and company vice chairman) Piero Ferrari's hands. The remaining 80 percent is slated to be distributed among Fiat Chrysler's existing stakeholders.

Massive cruise ship features Ferrari go-kart track

Billed as the first racetrack at sea, a Ferrari-themed circuit will sit atop Norwegian Cruise Lines' newest vessel, the Norwegian Joy, launching this summer. The two-level track will have room for 10 electric go-karts, and it's built in partnership with Scuderia Ferrari Watches. The barriers are red with the Prancing Horse crest displayed prominently. The track will be laid out on the top level of the Joy, offering racers a view of the sea as they turn laps. Ferrari watches will also be sold in a retail shop near the track as part of the deal. The cruise line announced plans for the circuit last year and now is confirming the Ferrari theme. Ferrari is expanding its marketing efforts with clothing, watches, Ferrari World Theme parks, and other lifestyle experiences as it positions itself as a global luxury brand. Ferrari hopes the moves expand its base beyond traditional automotive enthusiasts, who flock to the brand for its success on the track and for its high-performance sports cars. The Joy is designed specifically for the Chinese market and will have room for 3,850 passengers. Guests in certain classes will get free rides on the Ferrari track as part of their accommodations. The ship will also have a racing simulator, multi-story waterslides, and open-air laser tag. The Joy will be delivered Thursday in Germany, and its home ports will be Shanghai and Tianjin. Watch the ship float out in the video above. Related Video:

Ferrari plans theme park for North America

Ferrari is building more theme parks, and the next one could be built somewhere in North America, according to Bloomberg. The exotic automaker opened Ferrari World – its first theme park – in 2010 on Abu Dhabi's Yas Island, adjacent to the grand prix racing circuit and where Warner Bros will soon open another theme park. A second Ferrari theme park (pictured) is currently under construction in Spain as part of the PortAventura Resort that's one of the largest in Europe, and the company recently announced a third facility "to be located in one of the primary cities in mainland China" as well. The prospective North American location would be the fourth, though details on potential sites remain unknown. The Los Angeles and Orlando areas have developed into epicenters for theme parks in America and could attract a Ferrari location, or send it looking for alternatives like Six Flags and Busch Gardens parks have. Wherever Ferrari selects, you can expect the park to feature various racing-themed attractions, including roller coasters, vertical acceleration towers, virtual test tracks, and more. The licensing of additional Ferrari theme parks comes as the company strives to position itself as a luxury lifestyle brand as much as an automaker and racing team. The storied marque has lines of clothing and various merchandise, and a network of retail stores through which it sells its products. Underscoring its expansion, Ferrari shareholders approved the appointment of several new board members from luxury brands, including Louis Vuitton Moet Hennessy and the Mandarin Oriental Hotel Group. Investors also approved the renewal of Amedeo Felisa's contract as chief executive, but he's not expected to stick around much longer as Sergio Marchionne assumes more control over the company, which recently spun off from the Fiat Chrysler Automobiles group over which he also presides. Related Video: News Source: BloombergImage Credit: Ferrari Ferrari ferrari world theme park