2017 Ferrari Gtc4lusso Coupe on 2040-cars

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Hot Wheels loses Ferrari diecast contract to Chinese company

If you're anything like this writer, chances are you've got a diecast model or two kicking around the house. And if one of those models replicates a Ferrari, chances are it's made by Hot Wheels. The Mattel brand secured an exclusive contract from the Maranello automaker in the late 1990s, but the latest word from Hemmings has it that Ferrari has ended its partnership with Hot Wheels and awarded it instead to the May Cheong Group. Unless you're an avid diecast collector, you may not have heard of May Cheong, but you may have heard of its brands Maisto and Bburago. Both brands are longtime players in the model car market, but it's the Bburago part of the deal that's particularly interesting. Founded in Italy, Bburago made a name for itself largely due to the scale Ferrari models it made back in the day. But when the Prancing Horse marque awarded the exclusive contract to Mattel, and with increasing competition from the Far East, Bburago collapsed. May Cheong swept in and scooped it up, and now the Italian model brand, along with its onetime rival Maisto, will be producing diecast Ferraris once again. Whether Bburago will use any of its old tooling to resume production of Ferrari scale models or start from scratch with all-new equipment remains to be seen, as does the matter of whether either it or Maisto will be able to produce the same quality of models as Hot Wheels has with some of its higher-end offerings. Like most collectors, this writer's looking forward to finding out. Looks like it's time to buy another display case.

Fiat Chrysler begins Magneti Marelli spinoff

MILAN — Fiat Chrysler has kicked off its planned spinoff of parts maker Magneti Marelli, which will be registered in the Netherlands and listed on the Milan stock exchange, a document outlining initial plans and seen by Reuters showed. The spinoff is part of a plan by FCA Chief Executive Sergio Marchionne to "purify" the Italian-American carmaker's portfolio and to unlock value at Magneti Marelli similar to his earlier spinoff of Ferrari. Analysts say Magneti Marelli could be worth between 3.6 billion and 5 billion euros ($4.2 billion to $5.8 billion). It sits within FCA's components unit alongside robotics specialist Comau and castings firm Teksid. FCA has created a separate entity called MM Srl, the document showed, into which it will fold Magneti Marelli's electronics and electro-mechanical operations related to racing motorbikes and racing cars, as well as 14 other holdings in various companies around the world, including Germany, Slovakia, Mexico and South Africa. MM will be incorporated into a Dutch holding company via a cross-border merger, it added. FCA declined to comment. The move follows a similar procedure adopted by FCA for the spinoff and listing of Ferrari as well as of trucks and tractor maker CNH Industrial, both registered in the Netherlands and listed in Milan. The Dutch holding company would allow Marchionne, known for his success in extracting shareholder value through this strategy, to introduce a loyalty share scheme to reward long-term investors through multiple voting rights, as was the case with CNH and Ferrari. That would tighten the grip of FCA's controlling shareholder Exor, the Agnelli family's investment holding company, on the parts maker. Magneti Marelli, which employs around 43,000 people and operates in 19 countries, is a diversified components supplier specialized in lighting, powertrain and electronics. The Magneti Marelli separation is expected to be completed by the end of this year or early 2019, FCA has said. FCA's advisers initially looked at a possible initial public offering for the business to raise cash to cut FCA's debt, but the Agnelli family — FCA's main shareholder — was put off by low industry valuations and did not want its stake in Magneti Marelli to be diluted, three sources close to the matter told Reuters in March. Magneti Marelli has often been touted as a takeover target, and FCA has fielded interest from various rivals and private equity firms over the years.

Ferrari celebrates 70th anniversary on the 18th fairway at Pebble Beach

Ferrari is celebrating its 70th anniversary this year, so it's no surprise that the legendary Italian automaker played a large part in the 2017 Pebble Beach Concours d'Elegance this past weekend in the Monterey Peninsula. Four separate classes of Ferraris were featured including Grand Touring, Competition, Major Race Winners, and One-Offs. You can view the photos from the 18th fairway in the gallery above, or scroll down below to read about some of our favorites with descriptions courtesy of the Pebble Beach Concours Car Guide. 1958 Ferrari 335 Sport Scaglietti Spyder Three Ferrari 335 Sport Spyders with V12, 4-liter engines were built in 1957 — and then Luigi Chinetti persuaded Enzo Ferrari to build one more. This Spyder (chassis 0764) was completed by Scaglietti at the end of 1958. It was first presented at the New York Auto Show and was soon nicknamed the "Super Testa Rossa." Alan Connell purchased the car and raced it at Road America, Watkins Glen, Daytona and Nassau in 1959 and 1960. Thereafter it was owned, driven and enjoyed by several different collectors, and in 1990 it was notably lent to Phil Hill to drive in the Mille Miglia Storica. The current owner acquired the Spyder in 2013. 1967 Ferrari 412 P Competizione To replace the successful Ferrari P3, the factory developed the intermediate 412 P race car — also known as the P3/4. Designed by Mauro Forghieri, the 412 P features an aluminum body that owes its shape to the Ferrari wind tunnel, and the car develops 420 bhp due to its 4-liter, V12 engine with six Weber carburetors. This 412 P (chassis 0850) was purchased by the Ecurie Nationale Belge team of Jacques Swaters, and it raced in bright yellow livery at various events in 1967 and 1968. It finished second overall at the 1,000-km Race at Montlhery in 1967, and it won the Cote de Condroz and Cote de la Roche Hill Climbs in 1968. The car was also entered in the 1967 24 Hours of Daytona when Ferraris famously finished 1-2-3. After its racing days concluded at the end of 1968, the 412 P was converted to street use for Dean Martin, Jr. and was often seen on roads around Hollywood. It is shown here at Pebble Beach for the first time since being restored to its original racing specification. 1958 Ferrari 250 Testa Rossa Scaglietta Spyder This Ferrari (chassis 0728) is one of the most famous of all Testa Rossas.