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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:

How this Ferrari 250 GTE became Rome's most famous police car

We're used to seeing fancy cars gifted to or bought by certain international police forces today, but the story of this 1962 Ferrari 250 GTE goes well beyond a gift. Because Rome's anti-organized-crime unit, Squadra Mobile, was doing a terrific job in the early '60s, the Italian president asked what they wanted as a token of appreciation. The answer, meant as a joke, was "A Ferrari." The president, in all seriousness, got them two.
One was almost immediately destroyed during testing, the other remains in the care of Alberto Capelli today, whose father began attending military and government auctions just after World War II. Petrolicious visited Capelli to hear the 51-year-old tale of the most precious cop car you're going to see for a while, and it involves outlaws, a French gangster in a Citroën, a policeman who was offered a spot on the Ferrari factory team by Enzo himself, and more. It's a fantastic yarn, and you can watch the whole story below.

LaFerrari XX coming early next year with F1 engine

With the embargo up on early reviews, the repetitively named Ferrari LaFerrari has become the supercar du jour. It has already been put through its paces by Top Gear and Evo. However, we know that Ferrari isn't done with development of its current halo model just yet. News continues to leak out about the even more hardcore LaFerrari XX track car.
Ferrari already confirmed directly to Autoblog that the XX is under development. There are even spy photos of it testing at the Nürburgring (pictured above). It reportedly clocked an astonishingly fast six-minute, 35-second lap at the historic track. The latest scuttlebutt about the track-focused supercar, according to Top Gear, is that it ditches standard car's hybrid 6.3-liter V12 engine with a combined output of 949 horsepower and 663 pound-feet of torque in favor of a Formula One-derived V6 turbo hybrid. That would be a huge change but would likely cut weight. The more insane LaFerrari could debut as soon as January or February of next year.
Ferrari says it's difficult to make the XX accelerate much quicker than a standard LaFerrari, but slick tires, revised suspension and aero changes should cut lap times. A version that doesn't have to worry about road car laws and just focuses on being fast could be truly mental.