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Ferrari F12 TdF shrieks like a banshee on the Gumball

With all the exotic metal (or carbon) participating in the Gumball 3000 rally each year, it takes something truly exceptional to turn heads. The new Ferrari F12 TdF is up to the challenge. For those who may have missed the reveal back in October (and this week's episode of Top Gear), the F12 TdF could very well be the ultimate naturally-aspirated twelve-cylinder Prancing Horse. And by "ultimate," we mean possibly the last, before turbochargers and hybrids take over Maranello completely. Named after the legendary Tour de France (for automobiles, not cyclists), Maranello's latest is based on the F12 Berlinetta, but like the 599 GTO before it, the TdF pushes the envelope even further. Its 6.3-liter atmospheric V12 revs all the way up to 8,900 rpm, producing a monstrous 769 horsepower and 520 pound-feet of torque along the way – enough, in other words, to put the Lamborghini Aventador SV (and most anything else) to shame. It'll reach 62 miles per hour from a standstill in less than three seconds, top out at over 211 mph, lap Fiorano faster than any road car this side of LaFerrari, and slide around all day and all night with its four-wheel steering system. And it screams. Don't take our word for it: turn up the speakers, hit "play," and listen to the F1-like shriek it emits out in the wild. Related Video: News Source: Marchettino via YouTube Ferrari Coupe Performance Videos ferrari f12 gumball 3000 ferrari f12 tdf

Ferrari to keep CEO Amedeo Felisa post spin-off

Ferrari is undergoing a big shakeup, and not just on the Formula One racing grid. It's just parted ways with its longtime chairman, is being spun off from the rest of the Fiat Chrysler Automobiles group and will soon launch its initial public offering on the stock market. But one thing it's not about to change at this point is its CEO. Speaking to journalists in Milan this past Friday, FCA chairman John Elkann said, "There will be no CEO change," indicating that the job of chief executive Amedeo Felisa is secure for at least a while longer. After two decades at Alfa Romeo, Felisa joined Ferrari back in 1990, was named general manager in 2006 and chief executive in 2008. In that capacity, he's always reported to company chairman Luca di Montezemolo, whose place was recently taken by Sergio Marchionne. It remains unclear, however, just how directly involved Marchionne will remain in the Prancing Horse marque, especially after the spin-off, and what that would mean for Felisa. In launching the IPO, Ferrari could institute a loyalty scheme that would award additional stake to the company's oldest and largest shareholders – which would only further entrench the holdings of the Agnelli family which Elkann heads and which stands to become the largest stakeholder in Ferrari after its separation from the rest of the group.

Fiat Chrysler begins Magneti Marelli spinoff

MILAN — Fiat Chrysler has kicked off its planned spinoff of parts maker Magneti Marelli, which will be registered in the Netherlands and listed on the Milan stock exchange, a document outlining initial plans and seen by Reuters showed. The spinoff is part of a plan by FCA Chief Executive Sergio Marchionne to "purify" the Italian-American carmaker's portfolio and to unlock value at Magneti Marelli similar to his earlier spinoff of Ferrari. Analysts say Magneti Marelli could be worth between 3.6 billion and 5 billion euros ($4.2 billion to $5.8 billion). It sits within FCA's components unit alongside robotics specialist Comau and castings firm Teksid. FCA has created a separate entity called MM Srl, the document showed, into which it will fold Magneti Marelli's electronics and electro-mechanical operations related to racing motorbikes and racing cars, as well as 14 other holdings in various companies around the world, including Germany, Slovakia, Mexico and South Africa. MM will be incorporated into a Dutch holding company via a cross-border merger, it added. FCA declined to comment. The move follows a similar procedure adopted by FCA for the spinoff and listing of Ferrari as well as of trucks and tractor maker CNH Industrial, both registered in the Netherlands and listed in Milan. The Dutch holding company would allow Marchionne, known for his success in extracting shareholder value through this strategy, to introduce a loyalty share scheme to reward long-term investors through multiple voting rights, as was the case with CNH and Ferrari. That would tighten the grip of FCA's controlling shareholder Exor, the Agnelli family's investment holding company, on the parts maker. Magneti Marelli, which employs around 43,000 people and operates in 19 countries, is a diversified components supplier specialized in lighting, powertrain and electronics. The Magneti Marelli separation is expected to be completed by the end of this year or early 2019, FCA has said. FCA's advisers initially looked at a possible initial public offering for the business to raise cash to cut FCA's debt, but the Agnelli family — FCA's main shareholder — was put off by low industry valuations and did not want its stake in Magneti Marelli to be diluted, three sources close to the matter told Reuters in March. Magneti Marelli has often been touted as a takeover target, and FCA has fielded interest from various rivals and private equity firms over the years.