2020 Ferrari Portofino on 2040-cars

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FCA delays distribution of Ferrari shares

Even if you can't afford an actual Ferrari, soon you can own a part of the famous company thanks to its upcoming initial public offering. FCA will put 10 percent of the Prancing Horse on the market in the third quarter of this year. However to reap extra money for 2015's bottom line, the rest of the sports-car maker's stock will remain undistributed for a little longer. According to Automotive News, the strategy is quite simple to understand. FCA is holding off until the first quarter of 2016 to divvy up the remaining Ferrari stock to shareholders. By doing so, the automaker gets to claim 80 percent of the Prancing Horse's profits for its 2015 financial numbers. While FCA is already showing strong results through Q1 2015, being able to add extra cash on the balance sheet is always a plus. FCA hasn't set a specific date for the IPO, but Ferrari stock was announced to be traded in the US and possibly on a European exchange, as well. According to Automotive News, FCA currently owns 90 percent of the company, and Piero Ferrari has the remaining 10 percent, which he isn't selling. Related Video:

The Ferrari Enzo's designer isn't worried about the future of supercars

Ken Okuyama is a talented designer with a prestigious portfolio. He spent 12 years at the famed Italian design house Pininfarina after a stint with GM's Advanced Design Studio, where he worked on the C5 Corvette. He also styled the Boxster and 996-generation 911 at Porsche. His first Ferrari design was the Rossa concept car, though his most famous creation is the Enzo. Now Okuyama runs a design studio that not only is responsible for the new Kode57 supercar that debuted in Monterey this past weekend, but also eye glasses, civic planning, and even Japanese bullet trains. We caught up with Okuyama at the Concorso Italiano car show, plopped down on a couple of plush leather chairs right in front of his brand new Kode57, and chatted about what the future holds for car design. Alex Kierstein: Lately there's been a lot of talk about autonomy and future mobility. What sort of challenges and opportunities do you think this autonomous future is going to provide for you as a car designer? Ken Okuyama: It is a really fantastic time for designers because of two reasons. One is that the public and private transport have been two separate, completely different industries up until now. Now, when you think about the future of autonomy, that really brings the automobiles into something more of a public transportation. You really have to think about the total experience of the customers from buying the ticket to the paying mechanism. That's just hardware, actually. It is a huge challenge for engineers and designers, and I really love that. That's one reason. Another reason is that just like horses were a means of transport 100 or so years ago, up until Henry Ford mass-produced the Model T. Now, maybe sports cars are becoming like horses. Now, horses are a great object for hobby, sports, and part of the Olympics and everything. Cars are going to be like that also. Dr. Porsche [was asked what type of] automobile is going to last for the longest time. He said, "the sports car." I really believe in that, because with sports cars, you never lose a sense of ownership. Autonomous vehicles are things you don't have to own. You have to design a total experience and the whole operation. A car, you want to own it. It's part of you. Your mechanical watches, do you borrow them from somebody? You want to own it. Your suits, your favorite shirts, you want to borrow them from somebody for your experience? No, you want to own it. Ownership is a core part of human beings.

Ferrari and Jaguar dominate the 2017 Arizona Auctions

The 2017 Arizona Auctions took place this past weekend, and one look at the results should be a reminder that big-name auto auctions are no place for mere mortals. Aside from the fast paced nature – seven auction houses moved 3,486 vehicles across the auction block – the rarest and most desirable cars sold for more than most people will make in a lifetime. There were around 20 cars that sold for at least $1 million, with Bonhams topping the list with a $7,370,000 1963 Jaguar E-Type Lightweight. Despite $259.8 million in sales, Hagerty reports that 2017 was only the second biggest weekend in the Arizona auction's long history. The figure was up $9 million from 2016's total, but much of that increase can be attributed to the 12-percent increase in the total number of cars auctioned. The average selling price was $89,601, with the vast majority of vehicles selling for less than $100,000. Aside from the 1963 Jaguar E-Type, there were a number of rare and noteworthy vehicles for up for grabs. RM Sotheby's $6,600,000 1939 Mercedes-Benz 540K Special Roadster was the runner-up in value, followed closely by a $6,380,000 1952 Ferrari 340 America Competizione Spider from Bonhams. The various top-10 lists were awash with Ferraris and other European automakers, though much of the lower-end sales were populated by classic American autos. Most of the top sellers were built before 1970, though the occasional newer model (1995 Ferrari F50, 2005 Porsche Carrera GT, 2006 Ford GT) made it through. Based on 2017's overall theme, it appears that interest on cars from American automakers is on the rise. Hagerty notes that a number of 1980s American sports cars like the Chevrolet Corvette and Pontiac Firebird did surprisingly well. Look for the 2018 auctions to see if the momentum continues. Related Video: