2018 Ferrari Gtc4lusso T on 2040-cars

Auto blog

Fiat Chrysler denies rumors that Ferrari SpA is moving to London

It seems that reports of Ferrari's relocation to London have been somewhat exaggerated. The past few days have seen more than a few stories on the legendary Italian brand's decision to move its tax base out of Italy, and now Fiat Chrysler is speaking out against the scuttlebutt. "These rumors have no grounds," FCA said in a statement obtained by Reuters. "There is no intention to move the tax residence of Ferrari SpA outside Italy, nor is there any project to delocalize its Italian operations, which will continue to be subject to Italian tax jurisdiction." Ferrari's move to London was based on two beliefs. First, that the company would benefit from being located nearer the investor community, should it be listed on a European exchange. FCA, though, said a European listing was only a "possibility," according to Reuters. Instead, the company will be listed on an American market. Aside from the move to benefit investors, it was believed Ferrari was looking to relocate to escape Italy's more oppressive corporate tax rate, which sits around at 31.4 percent, compared to the UK's 20 percent, Bloomberg reports. This denial by Fiat Chrysler, though, should be enough to close the book on Ferrari leaving Italy, no matter how much sense it might make. Related Video:

Sebastian Vettel rips Ferrari FXX K around Fiorano

Sebastian Vettel is without a doubt the most successful driver currently on the Formula One grid. He's won four world championships, 39 grands prix and taken pole position 45 times. That makes him the third most successful driver in F1 history, retired or active. And now that he's signed with Ferrari, he's driving for the most successful team in the series as well. That's good news for the tifosi, but it's also good news for Vettel. Because not only will he be driving one of the best cars on the grid, but he'll have access to some of the best wheels off of it, too. Case in point: This latest video released by the Maranello outfit, in which the multiple world champion takes the new FXX K out for a spin around Fiorano. The track-bound evolution of the hybrid LaFerrari hypercar, the FXX K is said to lap the circuit in 1:14, making it the fastest Prancing Horse this side of a purpose-built racer like the SF15-T he'll be piloting in the 2015 world championship. In short, it's a heck of a step up from the special-edition FX crossover Infiniti made for him when he was still at Red Bull. And while you might think it still wouldn't measure up to some of the race-winning single-seaters he's driven over the years, he does seem to enjoy the experience. At least it's got a bit more elbow room than what he's used to. Related Gallery Sebastian Vettel in Ferrari FXX K at Fiorano News Source: Ferrari Ferrari Supercars Videos F1 Sebastian Vettel fiorano ferrari fxx k

Formula One speeds towards radical thousand-horsepower shakeup

The teams, the drivers, the fans, the circuits... few, if any, were satisfied with how Formula One has shaped up since the current regulations took hold last year. But that doesn't mean they aren't working on it. At a recent meeting of the F1 Strategy Group, the leading parties in the sport outlined a new framework that would radically shake up the cars themselves while keeping costs in check. And the biggest change could see the engines producing around 1,000 horsepower. Although a proposal put forth by Ferrari to ditch the current V6 hybrid engines in favor of new twin-turbocharged units was rejected by Honda and Mercedes, the members of the group approved in principal to increase the fuel flow in the existing engines to dramatically boost output. As it stands, the current 1.6-liter turbocharged V6 engines develop around 600 horsepower, with an additional 160 or so kicked in by the electric Energy Recovery System, for a combined output of about 760 hp. What's not clear at the moment is whether the increased fuel flow would necessitate either the return of mid-race refueling (currently banned) or the installation of larger fuel tanks. Red Bull and McLaren also submitted proposals to radically redesign the shape of the cars as well, however a more evolutionary approach was adopted instead. Though far from finalized, the new design would keep the same basic form of the current chassis, but with adjustments to make them more aesthetically pleasing while producing more downforce. Wider tires are also said to be part of the mix. With more power and more grip from the tires and aero, the resulting cars would most certainly end up going much faster than the current ones, which are already starting to nudge the lap records at some of the circuits, many of which were set during the V10 era. The F1 Strategy Group is made up of representatives of the FIA, Formula One Management and six leading teams. The next step will be for the teams' technical directors to iron out how to implement what their bosses have agreed to. If they settle the details fast enough, the revised regulations could be pushed through in time for next season. News Source: AutosportImage Credit: Mark Thompson/Getty Motorsports Ferrari Honda Infiniti McLaren Mercedes-Benz F1