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Ferrari to keep CEO Amedeo Felisa post spin-off

Ferrari is undergoing a big shakeup, and not just on the Formula One racing grid. It's just parted ways with its longtime chairman, is being spun off from the rest of the Fiat Chrysler Automobiles group and will soon launch its initial public offering on the stock market. But one thing it's not about to change at this point is its CEO. Speaking to journalists in Milan this past Friday, FCA chairman John Elkann said, "There will be no CEO change," indicating that the job of chief executive Amedeo Felisa is secure for at least a while longer. After two decades at Alfa Romeo, Felisa joined Ferrari back in 1990, was named general manager in 2006 and chief executive in 2008. In that capacity, he's always reported to company chairman Luca di Montezemolo, whose place was recently taken by Sergio Marchionne. It remains unclear, however, just how directly involved Marchionne will remain in the Prancing Horse marque, especially after the spin-off, and what that would mean for Felisa. In launching the IPO, Ferrari could institute a loyalty scheme that would award additional stake to the company's oldest and largest shareholders – which would only further entrench the holdings of the Agnelli family which Elkann heads and which stands to become the largest stakeholder in Ferrari after its separation from the rest of the group.

EVO dubs Ferrari 458 Speciale its Car of the Year

While some publications are concerned with finding the best car or truck for the average buyer and slapping a ribbon on it, or (in our case) identifying the best new automotive technology of the year, across the pond our compatriots at Evo are more single-minded in their approach. Every year, the British car mag awards its Car of the Year to its top new performance automobile on the market. And this year, they've picked the Ferrari 458 Speciale. The stripped-out supercar from Maranello beat out some heady competition. Second place went to the Jaguar F-Type R, followed by the Porsche Cayman GTS, VW Golf R, Renaultsport Megane 275 Trophy-R, BMW i8, McLaren 650S Spider, Aston Martin Vanquish, BMW M3 and, last but not least, the Audi S1. It was only the second time a Ferrari won the eCOTY award, after the 599 GTB Fiorano took top honors in 2006. Precedent suggests the magazine typically hands the award to a version of the Porsche 911 – like the GT3 that won last year, preceded by other Elfens in 2011, 2010, 2007, 2004, 2003, 2000, 1999 and 1998 (when the award was inaugurated). Why is the latest 458 derivative so... Speciale? Watch this video to find out.

Track lapping in Ferrari's new 488 GTB

With the floodgates opening on impressions about Ferrari's latest 488 GTB, Chris Harris is the latest person to climb into the driver's seat and give his initial opinions on the Prancing Horse's latest turbocharged effort. The 488 GTB is a hard vehicle to pin down, though. It looks vaguely like the naturally aspirated 458 but practically every component is thoroughly revised. While the headline-grabber is the 660-horsepower, 3.9-liter, twin-turbocharged V8 that's positioned behind the driver, the coupe also benefits from new adjustable dampers, upgraded brakes, and more. To figure things out, Harris laps the Prancing Horse around the track and eventually moves to some tight, Italian backroads. Of course being a video from Chris Harris on Cars, you can expect some big, smoky slides in addition to erudite thoughts on this Ferrari with forced induction.