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Ex-Ferrari chairman sounds off on IPO

Former Ferrari chairman Luca di Montezemolo preferred to put exclusivity over profits when he ran the company, and the lower volume still meant huge amounts of cash for the business. FCA CEO Sergio Marchionne has since taken over Ferrari, but that hasn't stopped di Montezemolo from voicing his opinions. "I hope that the clients will remain more important than the analyst or the investor or the financial markets," di Montezemolo said prior to his induction into the Automotive Hall of Fame in Detroit, the Detroit Free Press reported. The former chairman argued that once on the stock exchange, a company would need to maximize profits quarter after quarter to keep investors happy. Conversely, di Montezemolo said Ferrari's years of success came from an "exclusivity in terms of number of cars, exclusivity in terms of how you deal with the clients." When di Montezemolo left Ferrari last year, he and Marchionne were scuffling about the future of the brand, including the health of the Formula 1 program. With the change in leadership, the company has reversed course in some ways. Where volume was previously kept around 7,000 units annually, the carmaker has set a new goal of closer to 10,000. The paperwork was filed for the IPO, and Marchionne thinks the company could be worth over $11 billion. The actual shares are rumored to go on sale in October. Related Video:

Ferrari 458 Speciale vs Porsche 911 GT3 shows what Chris Harris does best

After a brief trip behind a pay wall, British auto journalist Chris Harris is back posting videos for free online, and shorts like this one are the perfect example of why his return is so welcome. Showing up at the damp Anglesey Circuit on the Welsh coast with the Ferrari 458 Speciale and Porsche 911 GT3, Harris ostensibly aims to find the better model. However, the final result really succeeds in showcasing the fun to be had behind the wheels of both supercars, particularly when initiating huge slides around the track. As Harris presents it, the vehicles get through the circuit in somewhat different ways The Ferrari is brash and "feels alive," as he puts it as it screams around the track. Alternatively, the Porsche is a bit more restrained, while still being able to show some emotion. In the end, it comes down to trying to get a controlled lap around Anglesey from this duo, but it's pretty clear that the times don't tell the whole story. If you're in the mood to watch two of the world's premiere supercars wag their tails in the wet, then this video cannot be missed.

Ferrari recalls 2016 California T

The Basics: Ferrari North America is recalling 304 units of the 2016 California T manufactured from September 8, 2015, to November 11, 2015. The Problem: The affected convertibles have a low pressure fuel line that may not connect properly to the fuel pump feed pipe because of an improper coating on the fuel pipe. A bad connection can lead to a fuel leak in the engine bay, increasing the risk of a fire. Injuries/Deaths: None reported. The Fix: Dealers will replace the low pressure fuel line assembly free of charge. If You Own One: The recall began on December 14, 2015 so you can contact your Ferrari dealership immediately for repair, or call Ferrari customer service at 1-201-816-2600. Related Video: Report Receipt Date: DEC 01, 2015NHTSA Campaign Number: 15V811000Component(s): FUEL SYSTEM, GASOLINEManufacturer: Ferrari North America, Inc.SUMMARY: Ferrari North America, Inc. (FNA) is recalling certain model year 2016 California T vehicles manufactured September 8, 2015, to November 11, 2015. The affected vehicles have a low pressure fuel line that may not connect properly to the fuel pump feed pipe.CONSEQUENCE: The improper low pressure fuel line connection can result in a fuel leak in the engine compartment which may increase the risk of a fire.REMEDY: FNA has notified owners, and dealers will replace the low pressure fuel line assembly, free of charge. The recall began on December 14, 2015. Owners may contact Ferrari customer service at 1-201-816-2600.NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 FREE (TTY 1-800-424-9153 FREE), or go to www.safercar.gov.