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Fiat Chrysler denies rumors that Ferrari SpA is moving to London

It seems that reports of Ferrari's relocation to London have been somewhat exaggerated. The past few days have seen more than a few stories on the legendary Italian brand's decision to move its tax base out of Italy, and now Fiat Chrysler is speaking out against the scuttlebutt. "These rumors have no grounds," FCA said in a statement obtained by Reuters. "There is no intention to move the tax residence of Ferrari SpA outside Italy, nor is there any project to delocalize its Italian operations, which will continue to be subject to Italian tax jurisdiction." Ferrari's move to London was based on two beliefs. First, that the company would benefit from being located nearer the investor community, should it be listed on a European exchange. FCA, though, said a European listing was only a "possibility," according to Reuters. Instead, the company will be listed on an American market. Aside from the move to benefit investors, it was believed Ferrari was looking to relocate to escape Italy's more oppressive corporate tax rate, which sits around at 31.4 percent, compared to the UK's 20 percent, Bloomberg reports. This denial by Fiat Chrysler, though, should be enough to close the book on Ferrari leaving Italy, no matter how much sense it might make. Related Video:

1964 Ferrari 250 LM expected to net $12-15 million at RM's NY auction

If you're one of the very fortunate souls that has $12 to $15 million burning a very large hole in your pocket, we've found the perfect way to liberate yourself from the burden of so much money - buy this Ferrari, which is being put up for auction. It's a supremely rare Ferrari 250 LM, the 24th member of a 32-car run, that rolled off the assembly line on what we imagine was a brilliant, sunny Italian summer's day in July of 1964.
Officially known as Chassis 6107, this 250 LM is rare because unlike its brothers, it wasn't originally bought to be a race car. Its first owner used it more or less as a toy, both around town and on the infamous Mulholland Drive, in California. After a pair of owners, it found its way into the hands of an Ecuadorian pair, who kicked off its racing career. Its best result was at the 1968 24 Hours of Daytona, where it finished eighth overall and first in class, although subsequent runs at Daytona and Sebring were less successful. Its most recent owner was a Japanese collector, who purchased the car in 1983 and has had it on display ever since.

Chris Harris brings together the 918 Spyder, LaFerrari, and P1

The Porsche 918 Spyder, Ferrari LaFerrari, and McLaren P1 show that a hybrid powertrain can make for blistering performance despite its electric assist. This trio doesn't arrive on track together very often, but Chris Harris assembled these three stars at the Portimao circuit for a nearly hour-long demonstration of their amazing capabilities. So, which one is quickest around the track? Harris provides an answer with in-car video of all three contenders. His team also goes out of its way to even the playing field by sourcing tires independently from Pirelli for the P1 and LaFerrari. With the technical part out of the way, Harris can start having fun by doing his usual slides during the driving comparison. Tiff Needell and Marino Franchitti also eventually show up to provide the perfect recipe for a track battle in these hypercars. If you don't have the time, skip about 14:25 into the clip just to see the lap times. However, those numbers only tell a tiny part of the story. The whole video is definitely worth a watch.