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Ferrari worth over $11 billion, says Marchionne ahead of IPO

We all know that cars from Ferrari sell for hundreds of thousands, if not millions of dollars. But how much is Ferrari worth as a company? At least ten billion, according to its chairman. Speaking at the launch of the revised Fiat 500 in Turin on Friday, Fiat Chrysler CEO and Ferrari chairman Sergio Marchionne said he expected the vaunted Maranello-based supercar manufacturer and racing team to be valued at over 10 billion euros, or about $11 billion at current exchange rates. As Bloomberg points out, that would make Ferrari alone account for some 60 percent of the value of its parent company Fiat Chrysler Automobiles, which is currently valued at over 16 billion euros. That may seem like an aggressive estimate, but we won't have to take Marchionne at his word for long. After having floated an Initial Public Offering on the New York Stock Exchange last year, Fiat Chrysler is preparing to do the same with its Ferrari unit as soon as October. FCA will not, of course, be selling off all of its shares. The projected scheme would have ten percent (worth about one billion by Marchionne's estimates) of Ferrari's shares floated on the NYSE. Another 10 percent is expected to remain in the hands of founder Enzo's son (and company vice chairman) Piero Ferrari's hands. The remaining 80 percent is slated to be distributed among Fiat Chrysler's existing stakeholders.

FIA president and former Ferrari boss Jean Todt named UN special envoy

Jean Todt, the 69-year-old former Scuderia Ferrari boss, Ferrari CEO and current FIA president has been named the United Nation's special envoy for road safety. UN Secretary General Ban Ki-moon announced the appointment Wednesday in Paris. Citing the 1.3 million people killed and the 50 million people injured each year on the world's roads, the UN is appointing Todt to mobilize "sustained political commitment towards road safety." Beyond that, the Frenchman will work towards raising awareness of the UN's "road safety legal instruments." "The road safety challenge is too often ignored, but road injuries are the number one killer of young people aged 15 to 29. That being the case, it deserves much more attention on the global political agenda," Todt said in the attached statement. "This appointment will bring greater visibility to efforts to tackle this health and development crisis, as well as new leadership and renewed momentum." Meanwhile, the FIA also confirmed Todt and 44 other delegates in Nepal to attend the organization's Asia-Pacific Sport Regional Congress in Kathmandu were safe after the country was struck by a devastating earthquake last week. Scroll on down for the official press release from the FIA. FIA President Jean Todt appointed as UN Special Envoy for Road Safety UN Secretary General Ban Ki-moon has appointed FIA President Jean Todt as his Special Envoy for Road Safety at a meeting held today in Paris. In this capacity, he will assist the UN Secretary General in mobilizing sustained political commitment towards road safety. Mr. Todt will also advocate and raise awareness about the United Nations road safety legal instruments, and share established road safety good practices, through his participations in global and regional conferences on road safety. In addition, the Special Envoy for Road Safety will generate funding for advocacy efforts through strategic partnerships between the public, private and non-governmental sectors. FIA President Jean Todt said: "The road safety challenge is too often ignored, but road injuries are the number one killer of young people aged 15-29. That being the case, it deserves much more attention on the global political agenda." adding "This appointment will bring greater visibility to efforts to tackle this health and development crisis, as well as new leadership and renewed momentum". "In my position as FIA President, with the backing of our members, road safety has become a key priority.

Glickenhaus confirms new sports car in development for 2015 Geneva reveal

James Glickenhaus and his Scuderia Cameron Glickenhaus team will have a new model ready for the 2015 Geneva Motor Show. Codenamed the P33, not many details are known about the car, but the post in FerrariChat.com says that it will be much smaller than the Glickenhaus P 4/5 (shown above) with a size closer to the Dino Competizone.
The limited available information about the car indicates that the P33 will be crafted from carbon fiber, giving it a 1,600-pound curb weight, with a body that will have a "three-wing design." Planned as a one-off model, the P33 will be powered by a twin-turbo V6 putting out close to 500 horsepower.