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Montezemolo steps down, Marchionne steps up as chairman of Ferrari

If the history of an automaker is divided up by the mandate of its leadership, then this is surely the end of an era for Ferrari. After repeatedly locking horns with Fiat Chrysler CEO Sergio Marchionne over a variety of issues, longtime Ferrari chairman Luca di Montezemolo has announced his resignation.
Montezemolo has a long history with both Fiat and Ferrari. He started his career at the former before moving over to the latter in 1973 (only a few years Fiat took over half of Ferrari), starting out as Enzo Ferrari's assistant. He was appointed head of the Scuderia the following year, driving the team to success and subsequently taking over all of the Fiat group's racing activities. After the Prancing Horse marque struggled in the wake of its founder's death in 1988, Montezemolo was appointed to take it over in '91 and has been at the helm ever since.
Following Fiat chairman Gianni Agnelli's passing in 2003, both Montezemolo and Marchionne were named to the Fiat board. A year later, after the passing of Gianni's younger brother Umberto, Montezemolo was named chairman of the Fiat Group (to be succeeded six years later by Agnelli heir John Elkann) and Marchionne its chief executive.

Ferrari Purosangue SUV test mule spied in video

We all know Ferrari has lost its shame and is working on an SUV, but here's the first hint of it with this video of what's most likely a Purosangue test mule. Yes, Ferrari Purosangue is the terrible name reportedly being given to the upcoming vehicle that Ferrari will not want you to call an "SUV." But what we're looking at here is the body of a GTC4Lusso with some obvious SUV hints. Just look at the ground clearance and wheel gap on this thing. That's clearly not typical Ferrari style. The video was captured by SupercarsNews on YouTube, and is actually quite comical too. As soon as the driver of the Ferrari notices the videographer standing by the fence, he jumps on the brakes and backs out of there behind the cover of trees. All was for naught, however, because we got to see and hear the test mule anyways. We don't imagine the Purosangue SUV/crossover thing will end up looking like this when it comes out. It is the first physical "proof" of the Ferrari utility vehicle, though, with a launch sometime early in the next decade forthcoming. Unfortunately, the quality of the video is on the poorer side of things, so it's difficult to pick much out beyond the high ride height. The sound of a modern Ferrari engine is evidently there — we wouldn't doubt this car being offered with an electrified powertrain too eventually. There's no information on where this video was shot, but chances are the videographer is right next to Ferrari's home in Maranello with this kind of a vehicle out and about. So go ahead and watch the video above -- it's a pretty weird sight to see a lifted Ferrari. Related video: Rumormill Spy Photos Ferrari Crossover SUV Luxury Performance

Ferrari vetoes F1 engine supply cost cap

The costs associated with competing in Formula One are enormous. In addressing the problem, the FIA has proposed a number of measures aimed at reducing those expenses. But while most of the teams are apparently on board, one key player has exercised its veto to defeat the initiative. The issue came up at a recent meeting of the Formula One Strategy Group, where the participating parties discussed implementing a global cost ceiling, amending the regulations in order to drive down costs, and increasing the standardization of common parts. However one of the most concrete steps would have seen the FIA institute a maximum price which engine suppliers could charge independent teams for their power units. The issue was put to a vote, which the FIA reports passed with a "large majority." But Ferrari vetoed the measure, exercising the right accorded to it under the governing regulations – a step which the FIA will not contest. With its cost-cap measure defeated, the governing body has confirmed its intent to move ahead with proposals to bring in an outside engine supplier that will provide motivation to independent teams at a lower cost. As we recently reported, the price associated with securing power units from suppliers like Mercedes, Renault, and Ferrari, typically costs teams as much as $30 million per season – a solid two or three times what they cost in the previous V8 era. One of the leading contenders at this early stage to supply those low-cost power units is Cosworth. The British firm has long participated in the championship as an engine supplier, stepping back from the sport only recently. However other companies could enter a bid for the contract as well. A French outfit called PURE run by former BAR-Honda team principal Craig Pollock began development of an engine package back in 2011. BMW and Toyota both supplied V8 engines until a few years ago, while independent outfits like Mecachrome, Mugen, and TAG have also prepared F1 power units based on engines developed by major manufacturers. 26.10.15 FIA FORMULA 1 WORLD CHAMPIONSHIP - COST REDUCTION The FIA has studied cost reduction measures for teams participating in the FIA Formula 1 World Championship which were not conclusive, including: - a global cost ceiling, - a reduction in costs via technical and sporting regulations, - an increased standardisation for parts.