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Ferrari reveals one-off F12 TRS at Sicily cavalcade

Every year Ferrari owners gather from all corners of the globe for the annual Ferrari Cavalcade. This year's edition just wrapped up in Sicily, where over 90 proud owners from 27 different countries brought their prides and joys. Some of the participating supercars were more rare and notable than others - included among them several LaFerraris - but the extravaganza included the reveal of one very unique Prancing Horse.
That would be the new F12 TRS. The one-off creation surfaced just last week, the work of the Ferrari Special Projects division for one very fortunate client. It's based on the F12 Berlinetta, but replaces its coupe bodywork with new roadster sheetmetal that incorporates a glass window to reveal the red cylinder heads from which its inspiration - the 250 Testa Rossa - drew its name and a cowled rear deck. The open cockpit is trimmed in leather, Alcantara and carbon fiber, but ditches the glovebox, air vents, carpeting, audio system and other creature comforts.
Contrary to earlier reports, the F12 TRS does not appear to have a hybrid powertrain, the conventional 6.3-liter V12 producing the same 730 horsepower as the coupe to propel this one-off roadster to 62 in 3.1 seconds and to 124 mph in 8.1 - so as you can see, it hardly needed any help in the first place. Check it out in photos above, and feel free to read more in the press release below.

Ferrari IPO could come any day now

According to Bloomberg, Fiat Chrysler Automotive Sergio Marchionne told reporters at the Toronto Global Forum that the Ferrari IPO could come any day now. "We are days away from filing the prospectus," said Marchionne, who declined to confirm whether rumors of involvement from UBS Group AG, JPMorgan Chase & Co and Goldman Sachs Group were accurate. In addition to an expected filing in New York, Marchionne hinted that a secondary filing could take place in Milan, Italy. Although the FCA Chief Executive didn't offer any expected sum for Ferrari, he had previously suggested that an IPO for the iconic Italian brand could be worth $1 billion, ringing the registers to the tune of 10 percent of the company's $11 billion valuation. According to Bloomberg, that potential sum is significantly higher than its own internal figures indicate after taking a poll of analysts who we assume must know a heck of a lot more about such things than we do. Considering how close we apparently are to the actual filing, though, we probably won't have to wait long to find out. Another hot topic any time Sergio is the subject of reporter questioning is a potential merger with General Motors or another large, full-line automaker. It seems there aren't any new revelations to reveal on the consolidation front, though Marchionne told reporters there were no plans to mount a hostile takeover of GM or any "other, less optimal" partners. Related Video: News Source: BloombergImage Credit: STR/AFP/Getty Earnings/Financials Chrysler Ferrari Fiat Sergio Marchionne FCA

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: