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Ferrari families have 'agreement' to prevent takeover

With its initial public offering already a massive success, Ferrari is now officially a publicly traded company on the New York Stock Exchange. While anyone can buy those shares, don't expect investors to take control away from some of the top owners of the Prancing Horse anytime soon. To maintain their power, Enzo Ferrari's son, Piero, and Exor chairman John Elkann will sign a deal guaranteeing themselves nearly half of the automaker's voting rights, Bloomberg reports. As part of this arrangement, shareholders that agree to hang onto Ferrari stock for at least three years would receive additional voting rights in the company, and that would give Piero and Elkann a combined 48.7 percent of the automaker by banding together. While not quite complete control, the move should be enough to prevent a takeover of the business. "We have an agreement among the families to protect our interests in Ferrari," Piero said to Bloomberg. This agreement won't really become a concern until next year because only 10 percent of Ferrari will be traded for now. FCA will distribute another 80 percent to its shareholders in early 2016, and Elkann's Exor will be getting the largest portion of the Prancing Horse in the spin-off. Meanwhile, Piero holds the remaining 10 percent but has absolutely no intention to sell his stake in his father's business. The newly public Ferrari will push to grow volume with a goal of moving 9,000 vehicles annually by 2019. To reach that 30-percent boost, expect to see a new model every year, and some of them might use a new, modular platform that's reportedly under development. Related Video:

2020 Chrysler Pacifica Red S Edition demands plenty of green

Chrysler has added a Red S Edition package to the Pacifica range for the 2020 model year. The equipment group is available on the gasoline-powered and hybrid variants of the minivan, and the package punts Chrysler's family-hauler into luxury-car territory. On sale now, the Pacifica Red S Edition commands a $3,995 premium over the Limited trim it's based on. In other words, buyers need to spend at least $49,935 once a mandatory $1,495 destination charge enters the equation, while selecting the hybrid powertrain likely pushes the bottom line beyond the $50,000 threshold (the package has not yet been priced for the hybrid model). This figure makes the Pacifica Red S Edition one of the most expensive minivans available in the United States. Chrysler rewards buyers willing to spend luxury-car money on one of its minivans with two-tone, Rodeo Red and black Nappa leather upholstery with Light Diesel Grey contrast stitching and piping (diesel fuel is not grey, if you're wondering), S logos stitched into the seat backs, and silver trim on the dashboard and the door panels. Outside, the Red S Edition builds on the S Appearance package with black and red emblems, a red S logo on the tailgate, and 20-inch alloy wheels finished in black, though note the Pacifica Hybrid settles for 18-inchers in the name of maximizing fuel economy. Buyers have six colors to choose from, including one called Ceramic Grey Clear Coat that joins the range for 2020. The Red S-spec Pacifica also comes standard with a Harman Kardon sound system that plays through 20 speakers, KeySense (which is essentially a teen driver key), and Advanced SafetyTec, which includes features such as a 360-degree-view camera, adaptive cruise control with stop and go, automatic high beams, park assist, and rain-sensing wipers, among other items. There are no mechanical changes to report, nor does the Pacifica Red S channel its inner Testarossa with a red valve cover. It carries on with Chrysler's venerable 3.6-liter Pentastar V6 rated at a stout 287 horsepower and 262 pound-feet of torque. The six spins the front wheels via a nine-speed automatic transmission.

Google And FCA To Build Self-Driving Minivans In Partnership | Autoblog Minute

FCA and Google will work together to build self-driving minivans in a Motor City-Silicon Valley partnership. Chrysler Autoblog Minute Videos Original Video chrysler pacifica minivans