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Ford GT dominates Le Mans qualifying, gets slapped with performance adjustment

Fifty years after Bruce McLaren and Chris Amon drove the Ford GT40 to victory at the 24 Hours of Le Mans, Ford is poised for a historic return to the Circuit de la Sarthe. The new Ford GT took the top two qualifying positions in the LMGTE Pro class, and four of the top five. Ferrari's 488 filled in the rest of the spots in the top seven, the first two from AF Corse. In other words, we're primed for a reboot of the classic Ford-Ferrari feud at this year's race. Or not, as the ACO, which organizes the 24 Hours of Le Mans, announced sweeping pre-race Balance of Performance (BOP) adjustments this morning that make this year's GT class anybody's race. In LMP1, last year's overall winner Porsche locked up the top two spots with the 919 Hybrid and will lead the entire field at race start. Toyota's two-car factory effort followed with qualifying times 1.004 and 2.170 seconds behind the pole lap. Audi rounds out the manufacturer-backed LMP1 class in fifth and sixth. Full qualifying results can be found here. The storyline for the GT cars is perfect - some say too perfect. Ford's class-leading times came after BOP adjustment to the Corvette Racing C7.R before qualifying. BOP is intended to level the playing field in the class by adjusting power, ballast, and fuel capacity. (Check out this explainer video for more, or even just if you love French accents.) But the process is riddled with unknowns and ripe for accusations of sandbagging. That is, if the Ford cars were intentionally slow in practice they could hope for BOP adjustment to improve their race chances. On the Corvette side, last year's GTE Pro winner went from the top of the field to the bottom, barely improving from practice to qualifying. If you think Le Mans is as rigged at the NBA Playoffs, well, it's not that simple. Because if Ford and Ferrari held back until qualifying - the eighth-place Porsche 911 RSR is three-and-a-half seconds off the class pole time - it was a pretty dumb strategy. This morning, the ACO tried to put things back in order by limiting the boost in the Ford GT's twin-turbo V6 and adding 11 pounds of ballast. Ferrari was also given extra weight but allowed more fuel capacity. The Corvette and Aston Martin teams were both given breaks on their air restrictors, which will allow their engines to make more power. Both Ford and Porsche also received extra fuel capacity.

Ferrari IPO worth $1 billion to launch imminently

Or maybe not. Back in July, we reported that Ferrari's initial public offering could come any day, based on what FCA honcho Sergio Marchionne told reporters at an international economic forum. Marchionne himself ensured investors that the Maranello automaker was "days away" from filing the paperwork. That didn't happen. Now it's October, and the rumormill is churning about all things Ferrari IPO on the news that the company has filed amended IPO documents with the SEC on September 22. Like last time, the launch is apparently imminent – as early as today, reports CNBC – and sources are hearing an offer of $1 billion in stock, or roughly 10 percent of what FCA believes Ferrari to be worth. Back in July, Marchionne insisted that Ferrari was worth as much as $11 billion, despite experts at the time pointing out that this was much higher than even the company's internal assessment of the brand's value. Bloomberg is also reporting that demand for Ferrari stock may exceed supply by as much as 10 times, even before the IPO. Much of this value (as much as half) is derived from the brand as intellectual property, as opposed to its assets or profitability. Part of the brand value equation is Marchionne's attempt to reposition Ferrari as a "luxury" brand, as Business Insider notes – the word "luxury" is mentioned 151 times in the document. The broad universe of branded Ferrari goods, like luxury clothing and toys, are a strong illustration of Ferrari's power as a brand. For traditionalists and Ferrari fans jittery at the thought of their beloved manufacturer subject to the whims of shareholders, a few calming notes. Tech Times reports that the documents confirm that Ferrari will remain incorporated as an Italian company. More importantly, there's no indication at present that Ferrari's new emphasis on "luxury" will change their product plans, meaning ever-faster exotic cars will continue to roll out of Maranello for now.Related Video:

Ferrari profits rise 46 percent in 2018

MILAN — Italian luxury sports car maker Ferrari says profits last year rose 46 percent, driven by a surge in V12 sales and vehicle personalization. Ferrari on Thursday reported 2018 net profit of 787 million euros ($904 million), up from 537 million euros the previous year. Shipments rose 10 percent to 9,251 vehicles, while net revenues were flat at 3.4 billion euros. Ferrari set a forecast for 3-percent revenue growth to over 3.5 billion euros. It did not provide a shipment forecast. Sales of 12-cylinder models surged 20 percent, led by the 812 Superfast, while sales of 8-cylinder models rose 8 percent. Sales rose across the globe, with double-digit increases posted in Europe and greater China. The carmaker said fourth-quarter profits rose 40 percent to 191 million euros.Related Video: