1995 Ferrari F355 Spider on 2040-cars

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Ferrari F12 Berlinetta auction raises $1.5M for Hurricane Sandy relief

Ferrari has managed to raise $1.5 million for victims of Hurricane Sandy during an auction in Austin, Texas for the very first F12 Berlinetta in the US. The funds will go to the American Red Cross and be earmarked for Hurricane Sandy relief. Ferrari started bidding on the F12 at $315,888, but the most powerful production model from the company fetched $1.125 million by the time the gavel fell through bids sourced both in person and over the phone. The company also managed to raise a further $345,000 in in-kind donations before the auction began, and donors gave an additional $50,000 during the event itself.
Ferrari debuted the F12 Berlinetta at the 2012 Pebble Beach Concours d'Elegance, and the company is set to deliver its first model to a US customer in the second quarter of 2013. The automaker reminds its fans that it is still possible to donate to the Hurricane Sandy relief fund by visiting a special Ferrari section of the American Red Cross page. You can take a closer look at the full press release below for more information.

1962 Ferrari 250 GTO auctioned for a record $48 million

As anticipated, the 1962 Ferrari 250 GTO chassis number 3413 made some serious money at the RM Sotheby's auction at Pebble Beach. As the hammer came down at $48.2 million, the Ferrari became the most valuable car ever sold at auction; it made the Goldeneye Aston Martin DB5 look like a used DB7 in comparison. Last night, racing legend Derek Bell drove the Ferrari onstage, and bidding was opened at a breathtaking $35 million. Three bidders were involved in the sale, and the complete sum including fees came to $48,405,000. The auction house knew it was going to be expensive, having estimated the car at more than $45 million in June. It handsomely topped an earlier Ferrari 250 GTO record of $38 million. The Ferrari, the third one out of a 36-car production run and complete with significant racing history, has a numbers-matching powertrain and a Scaglietti-built Series II body. It has been with its previous owner since 2000, and the last time it was sold it commanded $7 million. The $40-million bump in value is simply incredible, Ferrari 250 GTO or not. And all this time the car hasn't just sat, appreciating; it has been seen in numerous classic events, in actual use. Related Video: Featured Gallery 1962 Ferrari 250 GTO at RM Sotheby's Monterey Auction View 10 Photos Image Credit: RM Sotheby's Ferrari Auctions Performance Pebble Beach ferrari 250 gto 1962 ferrari 250 gto ferrari auction

Stellantis reports $15B profit in first year of merger

FRANKFURT, Germany — Automaker Stellantis said Wednesday that it made 13.4 billion euros ($15.2 billion) in its first year after it was formed from the merger of Fiat Chrysler Automobiles and PSA Group. The earnings nearly tripled profits compared with its pre-merger existence as two separate companies, as the maker of Jeep, Opel and Peugeot vehicles exploited cost efficiencies from combining the businesses. The result compared to a combined 4.79 billion euros for the separate companies in 2020 before the merger, which took effect on Jan. 17, 2021. Revenue for the combined business rose 14%, to 152 billion euros. CEO Carlos Tavares said the results “prove that Stellantis is well positioned to deliver strong performance" and had overcome “intense headwinds” during the year. Automakers have struggled with shortages of key parts such as semiconductor electronic components and rising costs for raw materials as the global rebound from the worst of the coronavirus pandemic brings more demand. The company said the benefits of the merger were worth some 3.2 billion euros during the year. Mergers can lead to streamlined costs as companies combine functions and spread fixed costs over a larger revenue base. The company accelerated its rollout of battery-powered vehicles, with sales of low-emission vehicles reaching 388,000 — an increase of 160%. Stricter environmental regulations in Europe and China are pushing automakers to roll out more electric vehicles with longer range. Stellantis started production of a hydrogen fuel cell commercial van under its Opel brand in December. Stellantis' other brands include Chrysler, Citroen, DS, Fiat, Maserati, Ram and Vauxhall. Related video: Earnings/Financials Chrysler Dodge Ferrari Fiat Jeep RAM Citroen Opel Peugeot Vauxhall