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Why Italians are no longer buying supercars

Italy is the wound that continues to drain blood from the body financial of Italian supercar and sports car makers. The wound was opened by the country's various financial police who decided to get serious about superyacht-owning and supercar-driving tax cheats a few years ago, by noting their registrations and checking their incomes. When it was found that a rather high percentage of exotic toy owners had claimed a rather low annual income - certain business owners were found to be declaring less income than their employees - the owners began dumping their cars and prospective buyers declined to buy.
Car and Driver has a piece on how the initiative is hitting the home market the hardest. Lamborghini sold 1,302 cars worldwide in 2010, 1,602 cars in 2011 and 2,083 cars in 2012 - an excellent surge in just two years. In Italy, however, it's all about the ebb: in 2010, the year that Italian police began scouring harbors, Lamborghini sold 96 cars in Italy, the next year it sold 72, last year it sold just 60. The declines for Maserati and Ferrari are even more pronounced.
Head over to CD for the full story and the numbers. What might be most incredible isn't the cause and effect, but where the blame is being placed. A year ago the chairman of Italy's Federauto accused the government of "terrorizing potential clients," this year Luca di Montezemolo says what's happening has created "a hostile environment for ­luxury goods." Life at the top, it ain't easy.

Ferrari Classiche brings priceless crashed 250 GTO back to life [w/video]

When a car is worth millions of dollars, you don't simply write it off when it's damaged – you have it painstakingly repaired. But when that car's worth tens of millions, there's hardly any expense to be spared in its restoration. So after a rare Ferrari 250 GTO crashed a couple of years ago during a special event, its owner (presumably at the behest of his insurance company) sent the damaged specimen back to the factory for a full restoration to its original condition. The Ferrari in question, GTO No. 3445, is owned by American collector Christopher Cox, who was driving it during a special tour in France organized for the legendary sports racer's 50th anniversary when he collided with another car – fortunately not another one of the GTOs on the road – inflicting significant damage on the highly coveted collector's item. That was two-and-a-half years ago, and shortly after the accident, Cox entrusted it to the Ferrari Classiche division, which is responsible for restoring classic Prancing Horses and certifying their authenticity. Now the repairs and restoration are complete, right down to the Swedish blue and yellow livery it was originally give in April 1963 by Ulf Norinder and the number 112 he gave it for the 1964 Targa Florio. Spending over two years restoring a single automobile may seem like overkill to most, but considering the $52 million said to have been paid the last time a GTO traded hands, and the $30 million spent on the one before that, suddenly two years doesn't seem like that long after all. Watch the reconditioned car undergoing its final, post-restoration shakedown around the Fiorano circuit in the video below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Lady in Blue A stunning 250 GTO is restored by the Classiche department Maranello, 28 November 2014 – One of the stars of the tracks of the 1960s was a Ferrari 250 GTO which has just emerged from a two-year-plus renovation at the Ferrari Classiche department, ready to return to its owner in America. During its stay in Maranello, the car was restored to the original engine and bodywork configuration in which it was delivered to Bologna-based publisher Luciano Conti in 1962. The latter also drove it in its maiden race, the Bologna-Passo della Raticosa. The Volpi era. In June 1962, however, Chassis no. 3445 was sold to Count Giovanni Volpi di Misurata, a passionate racing driver, who competed under the S.S.S.

James May's Ferrari 488 GTB road test makes us miss Top Gear

Whoever the BBC lines up for the next iteration of Top Gear, the reality with which we're coming to grips is that the show will likely never be the same. The question is whether the departing hosts will ever be the same without each other, and without the show that brought them together. This clip could go a long way towards answering that question, though. In this video review for the Driving section of the Sunday Times, James May joined the gaggles of gathering journalists in Maranello to check out the new Ferrari 488 GTB. And suffice it to say, it's not quite as entertaining (or even as well-informed) as most of the segments in which we've grown accustomed to seeing Captain Slow driving fast cars. James does have some rather relevant experience he might have imparted, though, seeing as how he didn't just drive the ultimate version of the preceding model – he went out and bought himself a 458 Speciale shortly before losing his job. So with GBP200k of car payments to make, we're hardly surprised to see him fronting for another operation. Whether it's worthy of him or not, you'll want to watch the clip to decide for yourself.