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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:

1957 Ferrari 335S sells for $34.9M, still not most expensive Ferrari ever sold

Here's your reminder that the price of a good vintage Ferrari is absolutely staggering – the 1957 335S that just sold at an Artcurial auction in Paris for $34.9 million isn't even close to a record when it comes to Prancing Horses crossing the block. While this 335S still represents a hell of a lot of money, we're actually wondering why it didn't do better. For one, this car, chassis number 0674, has the all-important racing provenance collectors crave. It's been raced by legends Mike Hawthorne and Sir Stirling Moss. In its first year of competition, Wolfgang von Trips took it to second place at the Mille Miglia, while Peter Collins and Maurice Trintigant drove it to sixth at the 12 Hours of Sebring. It even recorded the fastest lap at the 24 Hours of Le Mans (although it retired with engine problems just 56 laps into the race). So yes, consider the provenance box checked. Besides famous racers and races, it was owned by some huge names in the Ferrari world, including Luigi Chinetti, the founder of the North American Racing Team and the first Ferrari importer in the US. But for the past 45 years, it was a part of the legendary Bardinon Collection, which was known for its wide array of high-quality Ferraris. While the 1957 335S falls short of the record-holding 1962 250 GTO sold by Bonhams for $38.1 million during the Pebble Beach Concours d'Elegance festivities in 2014, it's still one of the most expensive cars ever sold at auction. And hey, it even landed in the meaty part of its $31.2 million to $35.6 million estimated sale price.

Ferrari F12 Berlinetta takes home 2014 Robb Report Car of the Year [w/video]

In what is being called an "unprecedented landslide decision," those who have the right to cast votes have anointed the Ferrari F12 Berlinetta as the 2014 Robb Report Car of the Year. Standout features that have helped the Ferrari earn such a runaway victory include its 0-60 blast of 3.1 seconds, its 211-mile-per-hour top speed and the exhaust note of its 731-horsepower V12 engine.
After being driven by a team of journalists and 100 or so members of the private Robb Report Club, the grand tourer beat out a total of 13 contenders that included the Audi R8 V10 Plus, Lamborghini Aventador LP700-4 Roadster, Aston Martin Vanquish Volante, Bentley Continental Flying Spur, Jaguar F-Type V8 S, Chevrolet Corvette Stingray Coupe, Maserati Quattroporte GTS and Dodge SRT Viper GTS.
This is the 21st year that Robb Report has selected a Car of the Year. Scroll down below for the official announcement and video, and feel free to read more about the F12 Berlinetta and some of its worthwhile competitors over at Robb Report.