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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:

Quartet of Ferrari FXX K supercars at Imola sound perfect

One Ferrari FXX K is rare. But four FXX Ks in one place is super rare. But even if you are so lucky to see so many of the racers all at once, you aren't likely to see them running Imola together. So yes, you want to watch this, and turn the volume up for good measure. Considering the rarity of these vehicles, not to mention the fact that their owners can only drive them under the careful supervision of Ferrari, we imagine the logistics of getting all these cars together was either very, very easy (since the cars stay with Ferrari at all times, like the first FXX) or remarkably difficult, because of all the personnel and equipment associated with each car in the Client Test program. Either way, bask in this scene, because as we said, we probably won't see it again soon.

Drive covers the ups and downs of the Ferrari Testarossa

We don't know how we got here, but it's apparently Ferrari Testarossa season. Not even 90 days ago, Evo bossman Harry Metcalfe preached an ode to the eightiest Eighties exotic there ever was ("exotic," as opposed to supercars like the Ferrari F40 or Porsche 959). Only weeks ago, one of the white Testarossas from Miami Vice hit eBay for the outrageous Buy It Now price of $1.75M. Now we have Drive offering a five-minute video of John Pogson, an Englishman who's been restoring Ferraris for decades, discussing the ups and downs of a car that perhaps had the best shoulder pads of that whole decade. Pogson went to Italy to retrieve one of the first two Testarossas to reach to England, and promptly got in trouble with the factory for taking prospective customers to Silverstone for hot laps. Unlike other paeans, Pogson says it took him time to overcome misgivings about the red-headed classic, like how it wasn't very fast and would "run out of brakes" on the track, but he's come around to it. The video above is just a teaser for a longer Drive video behind a pay wall, so don't expect fireworks, but do expect some mighty exhaust noises. And since we're here celebrating, below we've included a MotorWeek Retro Review of the Testarossa from 1998, and another of Chris Harris driving a 1992 512TR. Harris likes it so much he says five words in the whole vid. And the coupe really does look better when you wear a white suit, even a horribly wrinkled one. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: Drive via YouTube Ferrari Coupe Luxury Performance Classics Videos chris harris drive ferrari testarossa