1985 Ferrari Mondial Cabriolet Convertible 308/5 Sp 4wpdb 180 Mph Speedo on 2040-cars

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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:

'Top Gear' episode 1 recap | A new beginning, again

Season 27 of "Top Gear" kicked off Sunday night, and we were there on our couches for the premiere to see everything Chris Harris, Freddie Flintoff and Paddy McGuinness had to offer. With only five episodes in this season, this new group of characters doesn’t have much time to get it right. They started with a bang, on a massive road trip through Ethiopia in cars identical to their first vehicle purchases. Before that, though, the hosts recognized the rebirths and numerous changes "Top Gear" has gone through since Clarkson, Hammond and May left the premises. Good on "Top Gear" for not brushing over any sort of controversy and unrest, then getting on with the show as itÂ’s meant to be. As is typical for "Top Gear," the adventure/story portion of the show was definitely the most entertaining. We wholeheartedly approve of all the vehicles these guys bought as their first transportation — watching Chris Harris toss his little Mini around the sand and rocks was especially joyful. The boys get on rather well together for just starting off, and while the interludes for challenges didnÂ’t feel totally natural, the challenges themselves were still fun to watch. Being in Ethiopia with such a vast array of alien-to-us shooting locations definitely helped keep us entertained from a visual standpoint. We werenÂ’t surprised to see Chris Harris handling the “serious car review” portion of the show where he pitted a Ferrari 488 Pista against a McLaren 600LT — the others aren't traditional automotive journalists. We wonÂ’t give away who won, but the Ferrari did manage to surprise us in one particular area. Perhaps the most important aspect of the whole episode is how the three hosts got on with each other (Sabine Schmitz was nowhere to be seen). ThereÂ’s no Captain Slow or American car maniac amongst the group, but a comedian (Paddy) and cricketer (Freddie) certainly do bring fresh voices and perspectives. WeÂ’ll give them time to warm up to each other as the season goes on, with a new episode this coming Sunday. One thing we know for sure after this first go: Chris Harris really does not like the hot desert as much as he loves hot, burning rubber.

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