2010 Ferrari California Roadster Only 6000 Miles! Mint! on 2040-cars

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Ferrari IPO may turn out to be good news for enthusiasts

Sergio Marchionne's strategy to spin off Ferrari from FCA and make the Italian automaker a publicly traded company has been met with ire from a vocal contingent of enthusiasts ever since rumors about the plan began to surface a few years ago. Some of these particularly pessimistic automotive pundits have voiced fears that with stockholders in the mix, it would not only spell the demise of the exclusive Italian supercar maker as we know it, but would in fact "ruin" the company. Call me dense, but I fail to see what the issue is. That isn't to say that I don't understand what's causing the fear. When profitability becomes a higher priority for a brand that's historically relied on exclusivity to keep its products in the highest echelons of desirability, there's a high potential for internal philosophical conflict. And then there are concerns about the sorts of products that Ferrari might develop that aren't the high-performance sports cars that the brand is known for. But individuals with those apprehensions seem to forget that Ferrari has already lent its name to a multitude of things that are not LaFerraris, 488 GTBs, or F12 Berlinettas, including clothing, headphones, and even laptops. But let's assume for a moment that the core anxiety is about future vehicles – including the unspeakable notion that Ferrari might develop an SUV. Why wouldn't Ferrari build an SUV, especially after seeing how incredibly successful that endeavor has been for Porsche? I think it's likely that Ferrari will put engineers to task creating some sort of crossover or high-rolling cruiser with room for the whole family at some point in the near future. And why wouldn't it, after seeing how incredibly successful that endeavor has been for Porsche? After all, the Cayenne accounted for more US sales in 2013 than the Boxster, Cayman, 911, and 918 combined, and it only gave up about a thousand units of sales last year to make room for the Macan crossover, the latter of which Porsche sold nearly as many of as it did Boxsters and Caymans. People want these vehicles, and they're willing to pay quite a bit of money for them. If we use Porsche's recent trajectory as a foreshadowing metric for what's in store for Ferrari, the future actually looks pretty good. After all, those SUV sales keep plenty of cash in Porsche's coffers for the low-volume projects that we enthusiasts love, like the 918 Spyder and the 911 GT3 RS.

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:

Fangio's Ferrari sells for $28 million in New York [w/videos]

See this Ferrari? It just set the record as the most valuable automobile sold at auction this year. It's a 1956 Ferrari 290 MM driven by the legendary Juan Manuel Fangio, and it sold last weekend in New York for an astonishing $28.05 million. The speedster was built for Fangio to drive in the 1956 Mille Miglia – the last time the Argentinian would enter the race, which was shut down as a competitive event the following year. But before chassis number 0626 was retired, it was driven by such legends as Phil Hill, Alfonso de Portago, and Wolfgang von Trips. Ferrari only made four examples, and between its provenance and its pristine condition – it never crashed – this 290 managed to exceed its pre-sale estimate. In the process, 0626 powered its way into the record books as the most expensive car sold at auction in 2015, the most valuable that RM has ever handled, and the highest price ever paid for a vehicle in New York City. In fact the only cars ever sold at auction for more than this one were another Ferrari (the 250 GTO that Bonhams sold last year for $35 million) and another of Fangio's racers (the Mercedes W196 also sold by Bonhams for $29.6 million in 2013). Though Fangio's Ferrari was far and away the top lot of the day, it wasn't the only multi-million-dollar automobile sold as part of RM Sotheby's Driven by Disruption auction. A 1962 Aston Martin DB4 GT Zagato set a new record for British automobiles at $14.3 million. A Ferrari 250 GT Series I Cabriolet sold for $5.7 million, a Pierce-Arrow Silver Arrow went for $3.7 million, and another Ferrari 250 Europa sold for $3.3 million – as did Floyd Mayweather's Enzo. A '72 Lamborghini Miura SV fetched $2.4 million, and Janis Joplin's Porsche 356 set a new record for its type and well exceeded expectations at $1.7 million. All told, the event generated a massive $73.5 million in sales, of which the Fangio Ferrari alone accounted for over a third. 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. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.