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Ferrari-Maserati dealer folds in Las Vegas casino

The ten-year-old Penske Ferrari Maserati dealership located inside the Wynn resort in Las Vegas, where non-Ferrari owners had to pay $10 to walk among the cars, is closed. Word is that the Ferrari franchise is moving to Towbin Motorcars, which you'll know for being the home of the former "King of Cars," and more recently where Floyd "Money" Mayweather has bought 100 cars, including three Bugatti Veyrons. According to Ferrari Chat almost the entire Penske-Wynn staff will make the move, including the highly regarded service department. This being Las Vegas there are, naturally, various theories about why the only Ferrari franchise in the state of Nevada is leaving one of the state's marquee locations. We got a tip a month ago from reader Johnny Autos that Ferrari pulled the franchise, and if there is any truth to that, rumors at Ferrari Chat suggest it part of the reason could have been Steve Wynn flipping his LaFerrari before the 18-month no-sale period had elapsed. Wynn supposedly sold his $1.5 million supercar to Naples Motorsports in Florida for $3.5 million, Naples is asking $5 million for it and using it for the elementary school run in the meantime. On the other hand, Vegas Tripping says Wynn is letting the dealership go in order to get ready for the Alon – another casino – to open across the street in three years. That story believes Wynn will build a pedestrian bridge and rearrange shops on the Wynn side so that customers enjoy the kind of grand entry he would want. And then there's the theory that Penske is getting out of the Ferrari dealership business to focus on commercial trucks. No matter where the truth is in all of this, what matters to you is that you won't be able to spend $10 to check out Ferraris on the strip anymore. Which means more money for the penny slots.

Fiat Chrysler's Q3 profit boosted by strong North American earnings

MILAN, Italy — Fiat Chrysler Automobiles (FCA) reported a 17 percent jump in third-quarter adjusted operating profit on Tuesday, helped by a strong performance in its key North American market and improving operations in Europe and Latin America. The world's seventh-largest carmaker still makes the lion's share of its profits in North America, so improving, or at least maintaining, its margins there is a key focus. The carmaker reported an 8 percent adjusted operating profit margin in the region, up from 7.6 percent a year ago, despite a drop in sales and shipments. "FCA's profitability in North America remained strong in the quarter despite a weakening market there," a Milan-based analyst said. FCA's profitability compares with an 8.3 percent North America margin reached in the quarter by bigger U.S. rival GM , showing CEO Sergio Marchionne making progress towards his goal of closing the margin gap with GM and the company's other U.S. rival, Ford, by 2018. The company's confirmation of its full-year outlook also pushed shares higher, a trader added. The stock was up 2.8 percent by 1129 GMT, outperforming a 1 percent rise in the European auto index. FCA has been retooling some U.S. factories to boost output of sport-utility vehicles (SUVs) and trucks while ending production of some unprofitable sedans to strengthen profitability as the U.S. car market comes off its peak. The company said a drop in North America shipments due to lower fleet sales and discontinued models was partially offset by higher deliveries of Ram trucks and two models from the Alfa Romeo stable: the Stelvio sport utility vehicle and Giulia sedan. Profitability also improved in Europe, helped by sales of the Stelvio and the new Jeep Compass, and Latin America, while margins at Maserati remained strong at 13.8 percent due to strong demand for its first SUV, the Levante. In a later conference call, investors are looking for hints on the new strategy to 2022 which the company promised to unveil early next year. Chief Executive Sergio Marchionne said earlier this year that FCA would streamline its portfolio and that components businesses, including Magneti Marelli, would be separated from the group, possibly via a spin-off. While FCA confirmed its targets this year, doubts remain about its exposure to a weakening U.S. market, recall costs and potential fines over emissions after it was targeted by European and U.S.

2022 Maserati Ghibli, Levante and Quattroporte get new trim levels

Maserati's three-car lineup soldiers into 2022 with some new trim levels for the Ghibli and Quattroporte sedans and the Levante crossover SUV. Say arrivederci to the GranLusso and GranSport nameplates and buongiorno to the new GT and Modena monikers. They join the Trofeo, which arrived last year as the top-of-the-line variant for sedans after having been introduced on the Levante in 2018. In the Ghibli, the GT is powered by the 3.0-liter twin-turbo V6 making 345 horsepower and 369 pound-feet of torque. It also gets 18-inch alloy wheels and chrome accents outside, with leather "comfort" seats and Dark Mirror trim inside. The Ghibli Modena features a 424-horsepower version of the V6 engine with 428 lb-ft. Restyled bumpers with black inserts and 20-inch wheels complete the look outside, while the interior boasts "wraparound" leather seats. The top-drawer Ghibli Trofeo returns with its Ferrari-built 580-horsepower twin-turbo 3.8-liter V8 with 538 lb-ft of torque (top speed: 203 miles per hour). The Ghibli Trofeo is also denoted by its carbon-fiber exterior trim, 21-inch wheels and red brake calipers. The Quattroporte GT uses the same 345-hp twin-turbo V6 as the Ghibli GT. The bigger sedan does upgrade to 19-inch wheels outside and what Maserati refers to as "radica" trim inside. In the Quattroporte also, the Modena again uses the 424-hp V6, rolls on 20-inch wheels and is dressed up inside with piano black accents. The Quattroporte Trofeo also rocks the 580-horse twin-turbo V8, carbon-fiber exterior, 21-inch wheels and red brake calipers. The Levante GT again uses the 345-hp V6 but deviates from the sedans with its 19-inch wheels and piano black interior accents. The Levante Modena gets the 424-hp V6, but a Levante-exclusive Modena S model swaps in a 550-hp version of the turbocharged V8. The Levante Modena S also has black exterior elements (the Nerrissimo Pack) and red calipers. The Levante Trofeo gets the full 580-horse version of the V8, again with carbon-fiber exterior trim and 21-inch wheels (with 22-inch available). Pricing has not yet been released for the 2022 Maseratis, although the cars are available to order starting July 1. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.