2002 Berlinetta Used 3.6l V8 40v Manual Rwd Coupe Premium on 2040-cars

Auto blog

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:

As the iconic Ferrari F40 turns 30, a look back at its development

July 21, 2017 marks the 30th anniversary, to the day, of the Ferrari F40's debut. The F40 is easily one of the greatest Ferraris ever produced: It was one of the first road cars to have a top speed of 200 mph, it celebrated the company's 40th anniversary, and it was the very last model that founder Enzo Ferrari was able to see to completion. To celebrate this historic car's anniversary, Ferrari collected some anecdotes from people who worked on the F40 project, and they reveal some interesting details about the car's development. Among these details was the timeframe for creating the car. Ermanno Bonfiglioli, Head of Special Projects at Ferrari at the time, said that the car was developed in just 13 months. That means everything from the styling to the engine were taken from an idea to a production car in barely over a year. The engine wasn't quite a from-scratch design, though, since it was based on the unreleased 288 GTO Evoluzione's 650-horsepower engine, but it still received many updates to become the 487-horsepower engine we know today. Bonfiglioli highlighted the engine's weight savings due to using magnesium for the oil sump, cylinder head covers, intake manifold, and transmission bellhousing. It was after driving one of those 288 GTO Evoluziones that Pininfarina designer Leonardo Fiorvanti learned about Enzo Ferrari's plan for the F40. He said that after telling Enzo his thoughts on the 288, Enzo told him he wanted to make a "true Ferrari." Fiorvanti also revealed that everyone, including Enzo, knew this would be the last car for the founder. From what Ferrari test driver Bario Benuzzi said about the F40, it certainly didn't start out as a "true Ferrari." He said, "The handling of the first prototypes were poor." But in the short development time, the F40 became the car Enzo wanted, and Benuzzi credits plenty of downforce and the light, stiff chassis. It didn't make the car easy to drive, though. Benuzzi said, "With no power steering, power brakes or electronic devices, it demands the skill and commitment of the driver, but generously repays it with a unique driving experience." Related Video: Featured Gallery Ferrari F40 Ferrari Coupe Supercars Classics ferrari f40

Ferrari family won't sell stake in company

Ferrari may be splitting off from the Fiat Chrysler Automobiles group and launching its IPO independently, but those stocks it's going to float are coming out of Fiat's hands. The small portion still held by the Ferrari family looks destined to stay in their control for the time being. According to the latest report from Reuters, Enzo's son Piero says he has no intention of selling any of the 10 percent interest he and his family hold in the company founded by his late father. "I have never sold and I have no intention of doing so," said Piero, as quoted in the report. Piero Ferrari is the illegitimate son of Enzo Ferrari and his mistress Lina Lardi. His half-brother Dino died in his twenties from complications associated with muscular dystrophy, and in accordance with Italian custom, Piero was only acknowledged as Enzo's heir after the death of the father in 1988. Representing the family's holdings, Piero still acts as vice-chairman of the company but devotes his day-to-day to running aerospace manufacturer Piaggio Aero. News Source: ReutersImage Credit: Marco Vasini/AP Earnings/Financials Ferrari stock piero ferrari