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Ferrari's stock price falls off a cliff

The stock price skidded. The stock price stalled. Use whatever automotive analogy you want. It was a bad day for Ferrari on the New York Stock Exchange. Warning that sales growth would slow because of the economic slump in China, Ferrari NV watched its stock price slump accordingly. Shares of the company were down more than 13 percent in afternoon trading, falling to $34.64. Sprung from the Fiat Chrysler Automobiles less than four months ago, Ferrari's stock has lost a third of its value since its October initial public offering and is nearly half the price of its $62 high set days after the IPO. In a conference call with investors, chairman Sergio Marchionne said the company expected to ship approximately 7,900 vehicles this year. Marchionne said the company would be "fine" over the long term as long as it maintains a decades-long philosophy of maintaining strong demand. That means Ferrari won't follow some of its sports-car competitors who have broadened their vehicle portfolio's with the addition of SUVs. Marchionne bristled at such a suggestion. "You have to shoot me first," he told Bloomberg. But never say never? Previously, Ferrari had restricted its output to 7,000 vehicles per year. The company is already past that number, and Marchionne foresees the possibility that it could rise to approximately 9,000 by 2019. In a regulatory filing, Ferrari said, "we believe we can grow in a controlled manner while preserving the exclusivity of our brand by continuing to explore controlled growth in emerging markets to capitalize on the substantial wealth creation and the growing affluent populations in those markets." For now, those markets won't include China. Shipments there decreased 22 percent in 2015, even as worldwide output increased. Related Video:

Ferrari boss Montezemolo expects big changes from FIA

You'd think that with former Ferrari principal Jean Todt running the FIA, the relationship between the motorsport governing body and the team he once called home would be a solid one. But his former boss expects more from the organization that overseas Formula One.
In a recent interview (excerpts from which you can read below), Ferrari chairman Luca di Montezemolo pointed to some perceived inconsistencies in rulings made by FIA officials this season and called for "strong changes." Among those controversies was a drive-through penalty handed to Felipe Massa at the season-closing Brazilian Grand Prix last weekend, his last for the Scuderia. Massa was reprimanded for cutting across the white line that marks the exit from the pit lane, the penalty for which dropped him from fourth place in the race to seventh, and cost Ferrari its second place in the final standings for the constructors' championship - and with it a good $10 million in prize money. Montezemolo characterized the penalty as "disproportionate and unjust".
The Ferrari chief also pointed to penalties handed to Mercedes as either too harsh or not harsh enough, calling for greater consistency in FIA rulings and implying that more permanent race stewards be appointed instead of alternating race to race.

Ferrari might bring back the Dino, says Sergio

Dino: It's one of the most evocative, though long-dormant nameplates in automotive history. Coined after Ferrari founder Enzo's son, the badge was on a series of smaller and more affordable mid-engined sports cars produced between 1968 and 1976. And now Ferrari's boss says it could come back on the rump of an all-new Ferrari/Dino model. "It's a when not an if," says Sergio Marchionne, chief executive of Fiat Chrysler Automobiles, majority owner of the Italian sports car maker. "We know that it [Dino] is an under-used resource, but that's why we need to get it right." He agrees that a Dino model could have around 500 horsepower, be smaller and lighter than the mid-engine, V8-powered 488, and could even have a V6 engine just like the original Dinos. Ferrari collaborated on the development of the V6 engine design for Maserati and forthcoming Alfa Romeo models. A future Dino-badged model could share the same mill. "The six-cylinder response has been positive," says the CEO. Just don't go thinking that such a car would be a cheaper Ferrari. Marchionne is adamant that a Dino would not be seen as, or indeed be, a budget Ferrari. But there is the possibility that Dino could be launched as a standalone brand, just as it was at one time in the Seventies. "You don't screw around with the interests of your customers," says Marchionne, admitting he hated the Porsche Boxster model because it was seen as a cheap Porsche. Dino was originally created to compete with Porsche's 911. Enzo reasoned that he didn't want to reduce the price of his more expensive models to compete with the more affordable German sports car. Ferrari could do good business in a lower-priced arena, but Marchionne is clear that he wouldn't chase sales at the expense of the brand. "I would never try to sell another 500 cars at the expense of the Ferrari name," he says. Related Video: Image Credit: Winfried Rothermel / AP Design/Style Ferrari Supercars Sergio Marchionne ferrari dino