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Ferrari and FCA are officially separated

It's been a long time in the making, but it's officially happened: Ferrari is no longer part of Fiat Chrysler Automobiles. Following the Italian automaker's initial public offering, it has officially split off from its former parent company. As part of the spin-off, FCA's stakeholders will each receive one common share in Ferrari for every ten they hold in Fiat Chrysler. Special voting shares will be distributed in the same proportions to certain shareholders as well. Those shares being distributed will account for 80 percent of the company's ownership. Another ten percent was floated as part of the company's IPO, while the remaining 10 percent is held by Enzo's son Piero Ferrari (pictured above at center), who serves as vice chairman of the company. The shares will continue to be traded under the ticker symbol RACE on the New York Stock Exchange, and will begin trading this week as well under the same symbol on the Mercato Telematico Azionario, part of the Borsa Italiana in Milan. Since the extended Agnelli family headed by chairman John Elkann (above, right) holds the largest stake in FCA, expect it to continue controlling the largest portion of Ferrari shares as well. Between them, nearly half of the shares in the supercar manufacturer – and we suspect a little more than half of the voting rights – will be controlled by the Agnelli and Ferrari families, who are expected to cooperate to ensure the remaining shareholders don't attempt a takeover of the company. Similar to its former parent company, which operates out of Turin and Detroit, the Ferrari NV holding company is nominally incorporated in the Netherlands, but the automaker will continue to base its operations in Maranello, Italy. That's where it's always been headquartered, on the outskirts of Modena. For the time being, Sergio Marchionne (above, left) remains both chairman of Ferrari and chief executive of FCA – a position to which he is not unaccustomed, having previously headed both Fiat and Chrysler before the two officially merged. Related Video: Separation of Ferrari from FCA Completed LONDON, January 3, 2016 /PRNewswire/ -- Fiat Chrysler Automobiles N.V. ("FCA") (NYSE: FCAU / MTA: FCA) and Ferrari N.V. ("Ferrari") (NYSE/MTA: RACE) announced today that the separation of the Ferrari business from the FCA group was completed on January 3, 2016. FCA shareholders are entitled to receive one common share of Ferrari for every 10 FCA common shares held.

Ferrari unwraps radical new F12 TdF

The Ferrari F12 Berlinetta has never been in need of a performance boost, but Maranello has given it one just the same. Feast your eyes on the new F12 TdF. The latest Prancing Horse recalls the legendary Tour de France (for automobiles, not bicycles) that Ferrari dominated nine years running from 1956 through 1964 – and the elegant long-wheelbase 250 GT named in its honor. But the F12 TdF is much more about forward momentum than looking back. Power is up, weight is down, and everything's been tightened up, with new systems on board to keep it all together. For starters, the screaming 6.3-liter V12 from the existing F12 Berlinetta has been upgraded from 730 horsepower to 769. Torque has been increased from 509 pound-feet to 520. Although the engine will wail all the way up to 8,900 rpm, 80 percent of that torque is available as low as just 2,500 revs. Of course, Ferrari being Ferrari, it didn't just tinker with the engine and call it a day. It also returned the seven-speed dual-clutch transmissions to deliver upshifts 30 percent faster, downshifts 40 percent faster, and with ratios six percent shorter. The track is wider, the wheels larger, and the one-piece brakes are lifted out of the even more extreme LaFerrari. Ferrari has also fitted the TdF with a new Virtual Short Wheelbase system – Modenese for four-wheel steering – that sharpens turn-in, increases high-speed stability, and keeps the tail from spinning around to fast on the wider front tires. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. As you can see, the bodywork has been substantially redone as well, to be both lighter and more aerodynamically efficient. As a result, the TdF produces 87 percent more downforce than the stock Berlinetta. And thanks to its more extensive use of carbon fiber – not to mention the stripped-out cabin – the whole thing weighs a good 240 pounds less. The result of all these enhancements, Ferrari says, is a 0-62 time of just 2.9 seconds. Keep the throttle pegged (as you would most certainly be tempted to do) and it'll reach 124 miles per hour after 7.9 seconds, topping out at over 211 mph. It's also been clocked around the company's private, on-site Fiorano test track in 1 minute and 21 seconds, which is a good two seconds faster than the Berlinetta or the 488 GTB – and barely more than a second adrift of LaFerrari, the fastest road car ever to lap the circuit.

Race Recap: 2016 Austrian GP is mishaps from start to finish

At the 2015 US Formula 1 Grand Prix, rain mixed up the grid and a first-lap incident cast the die for the race. The Austin, Texas event made highlight reels for those reasons and because it decided the Driver's Championship. At the 2016 Austrian F1 Grand Prix, rain mixed up the grid and a last-lap incident cast the die for the race. The Spielbergring race will feature in this year's highlight reel because it might force Mercedes-AMG Petronas to make some hard decisions about the rest of the season. For the first time this season, Lewis Hamilton converted pole position into a lead through Turn 1, and began slowly pulling away from the field. Teammate Nico Rosberg started from sixth because of a gearbox penalty, but was up to third when he pitted on Lap 11. Mercedes normally pits the lead driver first, in this case being Hamilton, but Mercedes wanted to get Rosberg ahead of the two Ferraris. Hamilton pitted on Lap 22, emerging behind Rosberg because of a slow stop. Sebastian Vettel led the race for Ferrari on Lap 27 when his right rear tire exploded coming down the start-finish straight – an eerie reminder of the 2015 Belgian Grand Prix. The Safety Car rolled out, yet when racing resumed Rosberg stayed ahead. After the two Mercs came in for second stops everyone expected Hamilton to lead, but Hamilton had messed up his in-lap and lost a cumulative 3.3 seconds during his actual stops compared to Rosberg's pit-stop times. The Brit remained second. Hamilton chased his teammate for the final 15 laps. At the beginning of the last lap Rosberg messed up Turn 1 and Hamilton closed in. Rosberg took the inside line into Turn 2 as Hamilton pulled up on the outside, then Rosberg appeared to drive straight on as if he simply wasn't going to turn. Hamilton turned in, colliding with Rosberg and driving over the German's front wing. By the end of Turn 2, Hamilton had the lead and Rosberg had a broken car. The Brit won, the German puttered home to finish fourth. The incident promoted Max Verstappen to second and Kimi Raikkonen to third. Verstappen scored his second podium for Red Bull after his victory in Spain. Conversely, Raikkonen's third place for Ferrari was more gifted scraps for the scuderia. Daniel Ricciardo came fifth in the second Red Bull, Jenson Button delivered a terrific sixth for McLaren- Honda, Romain Grosjean got Haas back in the points, Carlos Sainz, Jr. secured eighth for Toro Rosso, and Valtteri Bottas in ninth for Williams.