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Fiat gives outgoing Ferrari chairman $35M severance package

Luca di Montezemolo may not have wanted to leave Ferrari this way, but don't feel too bad for the departing chairman, because he'll be hitting the ground with a golden parachute so big that he'll never have to work again.
According to the latest reports, Fiat will pay Montezemolo 26.95 million euros (nearly $35 million) in severance pay. A little more than half of that will be paid in a lump sum of 13.71 million euros ($17.7M, equivalent to five times his annual salary) on January 31, 2015, with the rest to be paid within the next 20 years.
The payment is contingent on Montezemolo not going to work for a competitor, so don't expect to see him replacing Stephan Winkelmann at Lamborghini or Wolfgang Dürheimer at Bugatti any time soon. At least not until March 2017. Of course with that much cash on hand, the 67-year-old marquis need never work again, but considering how busy he's used to keeping himself, we'd be surprised if he didn't pop up again somewhere.

Ferrari 458 Speciale buyers told to spec options to secure orders

Want to get your hands on a Ferrari 458 Speciale? You're in good company, because demand for what could be the last naturally aspirated V8 supercar from Maranello is apparently soaring. As a result, some buyers who've already placed their orders are reportedly being "advised" to add on extra options or risk losing their place on the waiting list to someone who will. The news comes from UK-based Magnitude Finance, whose director Tim Marlow said, "One client ordered the car many months ago but he was subsequently advised to increase the options he selected to guarantee delivery simply because others are prepared to go pay over the odds to get one new." Another Magnitude client was asked by the dealer "on five occasions to say others wanted to buy it if he changed his mind." Reached for comment, Ferrari spokesperson Krista Florin told Autoblog: "As with any Ferrari, customization is offered as a service to make each car unique. However, there are no requirements in order to secure an order." The options list on the 458 Speciale can add up fast. Active headlights add over $2,500 to the price, fitted luggage nearly $11k, leather interior and front lift system a solid $6k each and those NART stripes another $11k. Ordering items like the engine cover ($7.8k), rear diffuser ($9.6k) and outer sill cover ($10k) in carbon fiber can add to the $288k base price as quick as the Speciale can gather pace. That's how our recent tester ended up topping $336k – and that's if we could actually get one. Part of the demand is surely coming from moneyed enthusiasts keen to take possession of one of the finest mid-engined supercars Ferrari has ever made, but the demand and values are surely being driven up as well by speculators. "Everyone we speak to sees this as the next appreciating model over the long-term like the 360 Challenge Stradale and 430 Scuderia 16M before it," added Marlow, "so demand is really high." We can only imagine that demand has been even higher for the convertible version, as Ferrari will only make 499 examples of the 458 Speciale A, putting the roadster in an even more rarified class. Ferrari 458 Speciale demand (Leeds: UK. November 2014). Customers are going to extraordinary lengths to buy the Ferrari 458 Speciale, luxury car finance specialist, Magnitude Finance, reveals. Earmarked as a potential collector's item, some prospective buyers have been told a GBP20,000 deposit would only put them on a list of 'possible clients' but not guarantee an order.

F1 Race recap: 2016 Russian Grand Prix same as it ever was

The three-year-old Sochi Autodrom that hosts the Russian Grand Prix combines beautiful scenery with a hallmark turn 3, a tricky turn 13, and two long DRS zones. So far, however, those haven't added up to exciting races after the first lap. Despite an in-race issue with his car's MGU-K, Mercedes-AMG Petronas driver Nico Rosberg aced the weekend with his first career grand slam: pole position, fastest lap of the race, leading every lap, and victory. Behind him, not much happened on the leaderboard after an incident-filled opening lap. The drama started at turns 2 and 3. Ferrari driver Sebastian Vettel lined up in seventh on the grid because of a five-place gearbox penalty, Red Bull's Daniil Kvyat sat next to him in eighth. Kvyat hit the back of Vettel's Ferrari in the braking zone for Turn 2, shoving Vettel into Daniel Ricciardo – Kvyat's teammate. Kyvat then clobbered the back of Vettel's car at the entry to Turn 3, spinning the German into the wall and out of the race. Kvyat probably regrets saying before the race that he would show Vettel "no mercy" on the first lap. At the back of the grid at Turn 2, Haas F1's Esteban Gutierrez hit Force India's Nico Hulkenberg and Manor's Rio Haryanto. Gutierrez continued, both the Force India and the Manor retired. A brief Virtual Safety Car period ensued, then the actual Safety Car emerged for three laps while marshals cleaned up the track. Mercedes-AMG Petronas driver Nico Rosberg nailed the restart and took off for the rest of the race. Teammate Lewis Hamilton battled his own gremlins all weekend but still finished second, 25 seconds behind Rosberg. During the final qualifying session on Saturday Hamilton's car suffered the same MGU-H failure as in China two weeks ago. The problem relegated him to tenth on the grid. In the race, Hamilton fought his way to second place by Lap 19 out of 53 laps and began closing the 13-second gap to Rosberg. On Lap 37, the gap now under eight seconds, Mercedes told Hamilton his car had a water pressure issue. The malfunction forced the Briton to manage his race and settle for second. Afterward, Hamilton said he was certain he could have won if not for the malfunction. The rest of the top ten barely changed throughout the contest. The first five positions on Lap 21 crossed the finish line in that order 32 laps later. Ferrari's Kimi Raikkonen took the final podium position ahead of the Williams duo of Valtteri Bottas and Felipe Massa.