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Ferrari seeks review of Canadian Grand Prix penalty decision

Ferrari has asked for a review of the stewards' decision that cost Sebastian Vettel victory in the Canadian Grand Prix, a team spokesperson said on Monday. Vettel finished first in the race in Montreal on June 9 but lost the win after a five-second time penalty for going off track and returning in what stewards deemed to be an unsafe fashion. Mercedes' Formula One championship leader Lewis Hamilton was declared the winner instead. Significant and relevant new evidence that was not available at the time is required for a team to submit a 'right of review' under article 14 of the governing FIA's International Sporting Code. The spokesperson said Ferrari, who last week dropped a planned protest against the penalty, had formally requested the review but gave no further details "due to the sensitivity of the matter." Stewards will now have sole discretion to determine whether such a significant and relevant new element existed, with their decision final. If the review is deemed admissible, a secondary hearing will be held. Mercedes has won all seven races so far this season, and the last nine in total, with Britain's five-time world champion Hamilton now 29 points clear of Finnish teammate Valtteri Bottas in the standings. Vettel, who was furious with a decision that caused an immediate controversy, is 62 points adrift of Hamilton. Formula One holds its eighth race of the 21 round season in the south of France this weekend at Le Castellet circuit, where the penalty is likely to remain a major talking point. The Williams team requested a right of review last season against a three-place grid penalty handed to Russian driver Sergey Sirotkin, arguing that significant and relevant new elements had emerged. Stewards unanimously rejected the move. Motorsports Ferrari Mercedes-Benz Racing Vehicles F1 Lewis Hamilton Sebastian Vettel

Would you pay $2 million for a Ferrari F50? [w/video]

The F50 may not have been the finest of Ferrari's flagship supercars, but it remains a collector's commodity just the same – and its value keeps rising. F50s are already trading hands at upwards of $1 million apiece – and this year, at least one is expected to fetch upwards of $2.5 million. Ferrari launched the F50 in 1995 as the successor to the legendary F40 that came before. It eschewed the twin-turbo V8 that powered the 288 GTO and F40 for a naturally aspirated V12, setting the stage for the Enzo and LaFerrari that followed in the series. That high-revving 4.7-liter engine, according to Ferrari, was derived from the unit used in the actual F1 car from 1989 (known as the F1-89, naturally). This engine served as a stressed member of the chassis, mounted behind a carbon-fiber tub. With its removable hardtop, the F50 remains the only model in Maranello's flagship series (excluding the Enzo-based Maserati MC12) that offered an open cockpit. It was all very F1-like, but was barely any faster (if at all) than its iconic predecessor. Only 349 F50s were made, each carrying a half-million-dollar price tag. That would be a good $750k in today's money. Still, it is part of a highly collectible series. Only 349 were made, each carrying a half-million-dollar price tag that seemed astronomic at the time in the mid-'90s. That'd be about $750k in today's money, but it's still a far cry from what they're trading at these days. Last year alone, RM Sotheby's sold two F50s at auction: one in May at Villa d'Este for just under $1.4 million, and another at Pebble Beach (as part of the Pinnacle Portfolio) for nearly $2m. This compared to just a few years ago when they were selling for six figures, not seven, prior to 2013. At this early point in the year, two major auction houses have already announced consignments of F50s. RM has one (pictured above) on the docket that's estimated to sell for a good $1.5m. It's sure to be one of the top sellers in a couple of weeks at its sale in Paris during the Salon Retromobile (where Artcurial has another Ferrari for sale at over $30m). Gooding & Company has one lined up as part of the Tony Shooshani Collection. That example (depicted in the video below) was displayed at the 1995 Tokyo Motor Show and was owned by Jacques Swaters (of Ecurie Francorchamps fame). It has only 1,100 miles on the odometer and is expected to fetch between $2.5m and $2.9m, which would set a new record for the model.

Ferrari looking to become even more exclusive

While most automakers are clawing and scratching for every possible sale, it sounds like Ferrari is content in losing a few potential customers in the name of better exclusivity and higher profits. Autocar reports that Ferrari chairman Luca di Montezemolo recently stated that the Italian automaker hopes to sell fewer than 7,000 units globally in 2013 compared to last year's tally of 7,318.
As a part of this plan, Ferrari will be slowing its production lines and trying to create a balanced market for its cars in the US, the Middle East, Europe and China - the latter two being the automaker's biggest markets. Montezemolo also said that Ferrari would not be expanding its model lineup with SUVs, sedans or small cars.