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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:

Sebastian Vettel gets to work at Fiorano [w/videos]

He wore a BMW Sauber uniform for his grand prix debut, the colors of Scuderia Toro Rosso for his first win and the Red Bull Racing jumpsuit for his four consecutive world titles. But with the 2014 Formula One season now behind him, Sebastian Vettel is now officially a Ferrari man, and he donned scarlet for the first time this past weekend when he got down to work in Maranello. Aside from meeting with the company's new chairman Sergio Marchionne, the Scuderia's new principal Maurizio Arrivabene and a team of race engineers, Vettel took the F2012 – similar if not the very same one in which his predecessor Fernando Alonso won the Malaysian, European and German grands prix – out onto the company's private test track. He completed a solid 100 laps around Fiorano on Saturday and undertook long sessions driving the virtual F14 T on the sumulator. "It's been a fantastic day to come here," Vettel said of his first day with the team. "The possibility to drive the car and get to know the team was a unique experience.... I'm very much looking forward to the challenge that we took on for the next years." Scope out the photos of Vettel in red in the gallery above and the footage from his first session at Fiorano and first visit to Maranello in the videos below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Sebastian gets down to business in Fiorano Maranello, 2 December – Last Saturday, Sebastian Vettel did his first laps as a Scuderia Ferrari driver, at the wheel of an F2012, at the Fiorano track. The German did around a hundred laps and it wasn't just a case of getting to know the team, the track and the car's systems: after a few cautious runs, he began to push and enjoy himself, even though the damp track meant conditions were tricky with less than optimal grip. In this video, you can see some spectacular highlights from Sebastian's run, from which it's clear that he is a determined character who really can't wait to get down to work alongside Kimi and the team to get the Scuderia back to the top again. ### Vettel: "A special feeling" Maranello, 1 December – This was the first weekend as a Scuderia Ferrari driver for Sebastian Vettel, who has been at Maranello from Saturday until today and has begun his work ahead of the new season.

Creative minds build lightweight Lambos and Bugattis with cardboard and pedals

As manufacturers continue their quests to reduce the weight of their vehicles, they switch out heavy steel for lighter materials such as aluminum, carbon fiber, titanium, and sometimes even magnesium. But they've been ignoring a cheap alternative that is widely available: cardboard. Leave it to two visionaries from Vietnam to crack the code and build supercars and superbikes out of the versatile paper product. Vietnamese YouTube channel NHET TV, via CarScoops, might only have a year under its belt, but in that short amount of time, it has amassed more than 350,000 subscribers. What initially started out as a random collection of harmless pranks, trolls, and makeshift time-killers has blossomed into an entertaining channel of ultra-low-budget car and motorcycle builds.  The first video posted is a paper plane competition, but the second video shows the first appearance of a vehicle, a Ducati Panigale made out of cardboard and a bicycle. This isn't like Paper Mario with a two-dimensional silhouette, it's a close-enough three-dimensional replica. That project was admittedly pretty rough, but the work has only improved as the channel has matured.  Throughout the past year, NHET TV has stuck with high-performance transportation for inspiration. They've built projects that mimic a Lamborghini Sian, a Lamborghini Aventador SVJ, a Ferrari LaFerrari FXX K, a Bugatti Chiron, a BMW S 1000 RR, and a Yamaha YZF-R6, among others. Some of the builds, such as the Bugatti, go beyond the typical cardboard-body-on-bicycle-frame. As seen in the video below, the NHET TV built a tubular frame for the car using spare bike parts that they welded together. The Bug even has a custom steering column and steering wheel, though the high-quality model continues to use bike chains and pedals for power. The SVJ might be the most advanced vehicle, as it has a real engine for power and has custom reverse gearing. These guys are creating fun out of the limited resources they do have, and that's what right now is all about. Enjoy the videos below and watch more on the full NHET TV channel.