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Ferrari stock demand exceeding supply

As with the Ferrari cars, so it is with shares in the company's initial public offering: When Ferrari has a limited quantity of something to sell, demand far outstrips supply. Investors told banks weeks ago that bids for the $1 billion in stock – up to 18.89 million shares – would exceed the number of shares available over the entire expected range of $48 to $52. Ten percent of the company is going on the block' Bloomberg reports that the books close on the IPO on Monday at 4:00 pm. The final price will be set on Tuesday, and trading will begin Wednesday under the ticker symbol RACE on the New York Stock Exchange. Piero Ferrari, the son of Enzo Ferrari, will hold onto the ten-percent stake he currently has in the company. Fiat Chrysler will disburse the final 80 percent to its investors sometime in 2016. In combination with spinning Ferrari off from its parent company next year, the share sale is expected to put $4 billion into Fiat Chrysler coffers, which will be used to help fuel the growth of Alfa Romeo, Jeep, and Maserati. Assuming all goes to plan, Bloomberg says Ferrari will be valued at roughly $12 billion, a number $1 billion greater than the valuation Fiat Chrysler CEO Sergio Marchionne put on Ferrari earlier this year and higher than the brand's own internal assessment. Related Video:

Weekly Recap: Ferrari plans to gradually increase production by 2019

Ferrari has long been known for the exclusivity of its performance machines. It's on a different level than Porsche, BMW, and Mercedes. But as it transitions to a new era of independence from Fiat Chrysler, Ferrari is going to get a little less exclusive. It's by design, and it means a subtle, slow ramp-up of production – a move Ferrari believes will ensure its future by meeting growing demand in new markets. The strategy was detailed in SEC documents filed this month as part of the company's pending stock offering. The files reveal Ferrari will gradually increase shipments to about 9,000 units per year by 2019. This is a reversal of Ferrari's 2013 plans to cap production at 7,000 cars annually, which it hit on the nose that year. Ferrari shipments inched up to 7,255 in 2014, though that's down from 2012's record tally of 7,405. Ferrari is a vastly different operation than it was in 2013. Longtime chairman Luca di Montezemolo stepped down last fall, and FCA chief executive Sergio Marchionne has been overseeing the company since then. Its IPO has attracted high levels of attention from enthusiasts and investors. As expected, demand has reportedly outstripped the availability of the stock, which has an estimated offering price of $48 to $52 a share. Speaking of more Ferraris, the company revealed a limited-edition model this week called the F12tdf (shown above). Based on the F12 Berlinetta, the car is a salute to the Tour de France endurance auto race that Ferrari dominated in the 1950s and '60s. The V12 engine's output increases to 769 horsepower, while weight is cut by 243 pounds – allowing for a sprint to 60 mph in 2.9 seconds. Dramatic carbon-fiber elements and a radical redesign of the body panels give the F12 a more dramatic look. It will be limited to 799 units over the life of the car. If this is how Ferrari is increasing production, we're more than okay with the company's new strategy. OTHER NEWS & NOTES Tesla software unlocks Autopilot features Tesla released the latest version of its software for the Model S this week, which allows the all-electric sedan to drive in a semi-autonomous state called Autopilot. Tesla Version 7.0 enables the Model S to maintain lane position, change lanes by touching the turn signal, and manage the car's speed using an advanced, traffic-sensing cruise control. It also has a parallel parking feature, which searches for open spots and then parks your Tesla.

Ferrari F12 TdF, Tesla Autopilot, Fiat Leadership Change | Autoblog Minute

Ferrari unleashes the F12 TdF, Model S owners get an exciting announcement from Tesla, and Fiat North America undergoes a leadership change. Senior editor Greg Migliore reports on this edition of the Autoblog Minute Weekly Recap. Ferrari Fiat Tesla Autoblog Minute Videos Original Video ferrari f12 tdf

Autoblog Minute: Ferrari F12 TdF, Tesla Autopilot, Fiat brand leadership change

Ferrari unleashes the F12 TdF, Model S owners get an exciting announcement from Tesla, and Fiat North America undergoes a leadership change. Senior editor Greg Migliore reports on this edition of Autoblog Minute Weekly Recap. Show full video transcript text [00:00:00] Ferrari unleashes the F12 TdF, Model S owners get an exciting announcement from Tesla, and Fiat North America undergoes a leadership change. I'm Senior editor Greg Migliore, this is your Autoblog Minute Weekly Recap. Ferrari's new F12 TdF gets its name from the legendary Tour de France race that Ferrari dominated back in the 50s and 60s. [00:00:30] This new Ferrari is derived from the naturally aspirated F12 Berlinetta's engine. There are styling and performance upgrades, and the company highlights changes in aerodynamics, weight reduction, and faster shifts. The result, Ferrari says, is a blistering zero to sixty-two time of, 2.9 seconds. It's pretty fast. Tesla released software version 7.0 for Model S owners. The big takeaway from this update is the much anticipated Autopilot mode. Tesla says Autopilot [00:01:00] allows Model S to steer within a lane, change lanes, and manage speed. Software version 7.0 will also allow for digital control of the motors, brakes, and steering for collision prevention. Now do you hate parallel parking? Tesla's got you covered. The Model S can park on command, right after it scans for a spot and alerts you when one becomes available. Jason Stoicevich resigns shortly after losing control of the Fiat brand. Automotive News reported that Stoicevich's leadership role at Fiat was handed over to the company's [00:01:30] head of the Dodge brand. That's Tim Kuniskis. The report cites diminished sales figures as a key reason for the personnel change at Fiat. This change resulted in Stoicevich leaving FCA altogether. Those are the highlights from the week that was. Be sure to check out my full recap this Saturday. Plus I'll have some added insight into BMW's M2. For Autoblog, I'm Greg Migliore. Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals.

Without engine deal, Red Bull could be squeezed out of F1

It would have seemed unthinkable just a couple of years ago when it was winning more races than it lost and scoring one world championship after another, but these days Red Bull can't get a competitive engine. And if it doesn't get one soon, it could be forced out of Formula One altogether. This development emerges after two years of the once indomitable but now deteriorating relationship between Red Bull and its longtime engine partner Renault. When F1 switched from the previous V8 engines to the new hybrid turbo V6 power units ahead of last season, Renault dropped the ball, and Mercedes picked it up. Ferrari has since recovered much of the lost ground to push the Mercedes factory team for wins, but Red Bull and Renault have not. The stress of falling off their perch has left both parties pointing fingers at each other to the point that the team's longtime technical director Adrian Newey doesn't think the marriage is salvageable, or worth salvaging. "Unfortunately, our relationship with Renault is pretty terminal – there's been too much of a marriage breakdown, so we have no engine," said Newey. That's left Red Bull looking elsewhere for a new engine deal, but so far it's been unable to find one. The prospect of replacing sponsor Infiniti and supplier Red Bull with a similar partnership with Aston Martin and Mercedes has apparently come to naught. And the proposed buyout and engine deal from the Volkswagen Group evidently collapsed in the wake of that brand's diesel emissions scandal. That leaves Red Bull to turn to one of the existing engine suppliers in the series, and apparently neither Ferrari nor Mercedes are willing to sell their engines to one of their chief rivals. As McLaren has demonstrated this season, the Honda engines aren't up to speed, either. Which leaves Red Bull with nowhere else to turn. And if it doesn't find something in time for next season (or the following one at the latest), Newey says it may have to pack it in and close up shop. "Red Bull should not be put in a position where they're only there to make up the numbers." Related Video: News Source: Reuters via Motorsport.comImage Credit: Felipe Dana/AP Motorsports Ferrari Renault F1

2015 Russian Grand Prix was full of crashes and DNFs

Mercedes-AMG Petronas non-executive chairman Niki Lauda said of Lewis Hamilton's race-day domination this year, "The guy is driving like a god." Qualifying is another story, though – teammate Nico Rosberg taking pole proved that sometimes deities have to settle for second on the grid. Williams driver Valtteri Bottas surprised himself and his team with third place, half a second behind Hamilton but 0.05 sec ahead of the first Ferrari driven by Sebastian Vettel, while a mistake on Kimi Raikkonen's final flying lap left him in fifth, 0.4 sec behind Vettel. The Sahara Force India team had a good showing, with Nico Hulkenberg qualifying sixth just ahead of teammate Sergio Perez in seventh. It's the first time they've had both drivers in the top ten on the grid since the 2014 British Grand Prix. Romain Grosjean is leaving the stormy waters of Lotus at the end of the year for the unknown waters of Haas F1, but he made the shoestring operation look really good before Renault takes over by taking eighth place on the grid. Max Verstappen qualified well again with ninth in the Toro Rosso, ahead of the first Infiniti Red Bull Racing of Daniel Ricciardo in tenth. Red Bull driver Daniil Kvyat lined up eleventh for his home grand prix, certainly a disappointment after locking up fifth place on the grid last year in a Toro Rosso. When Pirelli brought soft and supersoft compounds to Sochi, the company said it hoped this year's race would be better than last year's. We're sure this first-lap mishap isn't what they meant. Rosberg and Hamilton dragged it down to Turn 1, with Rosberg getting the inside line. Hamilton had to go wide at Turn 2 as Rosberg fought to hold position, but they left a mess in their wake: Hulkenberg spun going into Turn 2 and stopped in the middle of the track, and Marcus Ericsson in the Sauber – who'd started 16th – collided with him. Both cars were out of the race immediately, and the Safety Car came in. The Safety Car returned to the pits on Lap 3 Rosberg led the field, but just two laps later the German complained of a sticking throttle pedal. Two laps later he had to retire, unable to drive the car properly. That put Hamilton at the front, and we've seen that race a bunch of times before. He built a double-digit lead and never lost it.

Do we finally know which hybrid hypercar is fastest?

In order to properly compare and contrast the performance characteristics of competitive automobiles, a number of variables have to be sorted out. For instance, to diminish the human component, the same driver must be used for each lap, that driver has to be capable of wringing the maximum level of performance from each vehicle, and they should all be checked and prepared to make sure they are within manufacturer specs before hitting the track. Speaking of which, the conditions at the track – and, of course, it goes without saying that the cars have to be tested at the same location, on the same day – have to be as similar as possible. Naturally, arranging all of these variables is difficult, if not impossible, and that's especially true when the contenders are the Ferrari LaFerrari, McLaren P1, and Porsche 918 Spyder. As range-topping models from well-established performance players, these three hybrid hypercars are often lumped into the same category. But which one is fastest? Well, that's been a tough nut to crack, in part because the manufacturers themselves haven't always been willing to play along when it comes time to test these machines head-to-head-to-head. And so, with all that (probably unnecessary) preamble out of the way, we present to you the video above, in which this particular vehicular pedestal is toppled. All three cars are owned by a man named Paul Bailey, they were tested on the same day at the Silverstone circuit in England, and each had British Touring Car driver Mat Jackson at the helm. We're not going to spoil the results, other than to say that all three vehicles were incredibly fast and within spitting distance of one another at the finish line, as you would expect. Intriguingly, this video is said to be part one in a three-part series, so we have more Ferrari vs. McLaren vs. Porsche action to look forward to. Related Video: News Source: TheSUPERCARDRIVER via YouTube Green Ferrari McLaren Porsche Convertible Coupe Hybrid Performance Supercars Videos porsche 918 spyder mclaren p1 silverstone hypercar ferrari laferrari laferrari

Autoblog Minute: UAW and FCA avoid strike, Clarkson teases new show

FCA avoids a worker strike, a former Top Gear host teases us with a picture from Amazon's new car show, and Toyota predicts autonomous cars by 2020. Autoblog senior editor Greg Migliore reports on this edition of Autoblog Minute Weekly Recap. Show full video transcript text [00:00:00] FCA avoids a worker strike, a former Top Gear host teases us with a picture from Amazon's new car show, and Toyota predicts autonomous cars by 2020. I'm senior editor Greg Migliore and this is your Autoblog Minute Weekly Recap. A UAW strike of FCA was avoided thanks to a zero-hour tentative agreement reached this week. Worker concerns that were renegotiated in the new [00:00:30] deal include adjustments to the two-tier wage scale, health care costs, and production outsourcing. Now check-in with Autoblog as we update our reports on this evolving story. Shooting began on Amazon Prime's new automotive show starring the former Top Gear crew. That's Jeremy Clarkson, Richard Hammond, and James May. Now Clarkson threw out a tweet from day one of filming on location at Algarve Motor Park in Portugal. The picture features the show's [00:01:00] three stars and crew posing with the holy trinity of hyper cars. That's a McLaren P1, a Ferrari LaFerrari, and a Porsche 918 Spyder. This Prime show is being called Gear Knobs though the name is unofficial. Now if a tweet is any indication of what we can expect, who cares what it's called this is gonna be awesome. (Eds Note: Clarkson tweeted Friday that the show will not be called Gear Knobs.) Toyota predicts drivers could be obsolete on highways as early as 2020, with technology dubbed the Toyota Highway Teammate or THT. Toyota is using a modified [00:01:30] Lexus GS to show what this is capable of. THT is already able to create a driverless freeway car that's capable of changing lanes, making passes and taking curves. Plus, it can keep safe distances from other vehicles. Toyota is currently testing this on Tokyo's Shuto Expressway. Those are the highlights from the week that was. Be sure to check out my full recap this Saturday. And I'll have some added insight on the BMW M4 GTS. For Autoblog, I'm Greg Migliore. [00:02:00] Show Logo Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals.

Former Top Gear crew starts filming for Amazon show

We might have only a hint at the name and no exact date for a premiere, but fans can celebrate that Jeremy Clarkson, Richard Hammond, and James May are filming once again. Plus, it looks like every cent of Amazon's reportedly lavish budget is being put on the screen. A photo tweeted by Clarkson shows the three hosts standing proudly in front of a Porsche 918 Spyder, Ferrari LaFerrari, and McLaren P1 at a racetrack. Clarkson jokes that the show has just a "skeleton crew" but behind him stand several dozen people, a sophisticated-looking camera rig, and two big trucks. This definitely looks worth the anticipation of the premiere on Amazon Prime next fall. Hammond tweeted the same picture and wrote: "The band is back together and it feels brilliant." This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Intriguingly, it appears that fellow British auto journalist Chris Harris is currently filming at the same track. He tweeted a photo to Clarkson of the McLaren doing a very smoky slide, while being followed by the other two hypercars. The Porsches in both photos wear the same red-and-white number 3 livery and have the same license plate number. In a later message, Harris was also clear that he wasn't filming there in connection with the trio's Amazon show. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Ferrari IPO worth $1 billion to launch imminently

Or maybe not. Back in July, we reported that Ferrari's initial public offering could come any day, based on what FCA honcho Sergio Marchionne told reporters at an international economic forum. Marchionne himself ensured investors that the Maranello automaker was "days away" from filing the paperwork. That didn't happen. Now it's October, and the rumormill is churning about all things Ferrari IPO on the news that the company has filed amended IPO documents with the SEC on September 22. Like last time, the launch is apparently imminent – as early as today, reports CNBC – and sources are hearing an offer of $1 billion in stock, or roughly 10 percent of what FCA believes Ferrari to be worth. Back in July, Marchionne insisted that Ferrari was worth as much as $11 billion, despite experts at the time pointing out that this was much higher than even the company's internal assessment of the brand's value. Bloomberg is also reporting that demand for Ferrari stock may exceed supply by as much as 10 times, even before the IPO. Much of this value (as much as half) is derived from the brand as intellectual property, as opposed to its assets or profitability. Part of the brand value equation is Marchionne's attempt to reposition Ferrari as a "luxury" brand, as Business Insider notes – the word "luxury" is mentioned 151 times in the document. The broad universe of branded Ferrari goods, like luxury clothing and toys, are a strong illustration of Ferrari's power as a brand. For traditionalists and Ferrari fans jittery at the thought of their beloved manufacturer subject to the whims of shareholders, a few calming notes. Tech Times reports that the documents confirm that Ferrari will remain incorporated as an Italian company. More importantly, there's no indication at present that Ferrari's new emphasis on "luxury" will change their product plans, meaning ever-faster exotic cars will continue to roll out of Maranello for now.Related Video: