1996 Ferrari F355 Spider 6-speed Documented & Complete 3 Owner Car W/ Major Done on 2040-cars

Auto blog

Ferrari recalling 814 models from 2015 for airbag problem

Recalls from small-volume, high-end automakers like Ferrari are fairly rare, but the Prancing Horse issued a safety campaign to repair 814 vehicles in the United States due to a potential problem with the driver's side airbag module. The issue covers the 2015 editions of the 458 Italia, 458 Spider, 458 Speciale, 458 Speciale A, California T, FF, F12 Berlinetta, and LaFerrari. The affected examples have build dates from Dec. 19, 2014, to April 29, 2015, but this isn't every MY2015 vehicle in the country. According to the announcement by the National Highway Safety Administration (here as a PDF), these Italian supercars might have a "relevant combination of insufficient gluing of the leather on the driver's side airbag cover and the possible rotated installation of the driver's airbag cushion in the airbag module." In the event of a deployment, the safety devices might come out turned from where they are supposed to be. This issue could cause an increased risk of injury in a collision. In the NHTSA documents, Ferrari reports that it believes the chances of these rotated deployments are low. For drivers' safety, dealers will still replace the affected airbag module with a new one. Owners will start having their supercars fixed around July 30. RECALL Subject : Improperly Assembled Drivers Air Bag Report Receipt Date: JUL 07, 2015 NHTSA Campaign Number: 15V433000 Component(s): AIR BAGS Potential Number of Units Affected: 814 All Products Associated with this Recall Vehicle Make Model Model Year(s) FERRARI 458 2015 FERRARI CALIFORNIA T 2015 FERRARI F12 BERLINETTA 2015 FERRARI FF 2015 FERRARI LAFERRARI 2015 Details Manufacturer: Ferrari North America, Inc. SUMMARY: Ferrari North America, Inc. (FNA) is recalling certain model year 2015 Ferrari 458 Italia, 458 Spider, 458 Speciale, 458 Speciale A, California T, FF, F12 Berlinetta, and LaFerrari vehicles manufactured December 19, 2014, to April 29, 2015. The affected vehicles may be equipped with a driver side air bag module that was improperly assembled. This can cause the air bag to deploy in a rotated orientation. CONSEQUENCE: In the event of a crash, the deployment of the driver's air bag in a rotated orientation increases the risk of injury. REMEDY: FNA will notify owners, and dealers will replace the front Driver's Side Air Bag Module, free of charge. The recall is expected to begin on July 30, 2015. Owners may contact Ferrari customer service at 1-866-551-2828. Ferrari's number for this recall is 57.

Ferrari borrows $2.6 billion to finance FCA spinoff

Ferrari announced Monday that it is borrowing about $2.6 billion to finance its spinoff from Fiat Chrysler Automobiles. Here's how it breaks down: Ferrari NV, the automaker's parent company based in the Netherlands, is taking out loans totaling 2.5 billion euros. That's equivalent to $2.64 billion at current exchange rates, and is divided between a term loan of $2.12 billion and a revolving credit facility of $529 million. The larger term loan "will be used to refinance indebtedness owing to Fiat Chrysler Automobiles," among other purposes. That ought to constitute the lion's share of the $2.38 billion which the Prancing Horse marque was, according to reports last year, slated to pay its current parent company in order to help FCA fund its ambitious growth plans. The separate line of credit is earmarked "to be used from time to time for general corporate and working capital purposes of the Ferrari group." Though Ferrari is not expected to take any other Fiat Chrysler properties with it, the "group" in this case would include its various financial services and distribution arms around the world that may have been separately incorporated. As noted in the statement below, the financial arrangement "represents a further step towards the separation of Ferrari from the FCA Group," following the separate stock issues from both companies as independent from each other. FERRARI N.V. SIGNS ˆ2.5 BILLION SYNDICATED CREDIT FACILITY Ferrari N.V. (NYSE: RACE) ("Ferrari") announced today that it has entered into a ˆ2.5 billion syndicated loan facility with a group of ten bookrunner banks. The facility comprises a bridge loan (the "Bridge Loan") and a term loan (the "Term Loan") of ˆ2 billion in aggregate and a revolving credit facility of ˆ500 million (the "RCF"). Proceeds of the Bridge Loan and Term Loan will be used to refinance indebtedness owing to Fiat Chrysler AutomobilesN.V. (NYSE: FCAU) ("FCA") and other indebtedness and for other general corporate purposes. Proceeds of the RCF may be used from time to time for general corporate and working capital purposes of the Ferrari group. The Bridge Loan has a 12 month maturity with an option for Ferrari to extend once for a six-month period. Ferrari intends to refinance the Bridge Loan prior to its maturity with longer term debt, including through capital markets or other financing transactions. The Term Loan, which comprises a majority of the total facility, and the RCF each have a maturity of five years.

Modena opens new Enzo Ferrari museum

Enzo Ferrari was one of the 20th century's racing icons, and on the 116th birthday of its founder, Ferrari opened a lavish new wing of the Enzo Ferrari Museum in Modena, Italy. The new hall is shaped like the hood of a '50s Ferrari racer on the outside and contains a century's worth of the brand's history inside. Ferrari Chairman Luca di Montezemolo and Enzo's son, Piero Ferrari, dedicated the new building on February 18.
The Enzo Ferrari Museum existed previously as two buildings, including Enzo's childhood home and his father's workshop, but the new building was created to display the Prancing Horse's full history. Projectors display images and films of Enzo's like across its walls and floors, and the cars on display represent Ferrari's most important as a driver and constructor over the past century.
The new gallery is meant to compliment the Museo Ferrari in nearby Maranello. Enzo's museum focuses squarely on Ferrari's past, and the other concentrates on brand's present and future, while still displaying some important classic models. Both will be open every day, expect for Christmas and the New Year.