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Ferrari Employees Are Apparently Not Allowed To Own Ferraris

Ferrari Employees Are Apparently Not Allowed To Own Ferraris

The only exception are F1 drivers and even they have to pay full price

Just in case it wasn’t clear before, it certainly is now. Ferraris are some of the most sought-after cars in the business today. In fact, employees of Maranello typically aren’t allowed to have their own brand-new Ferraris. The only exception? Formula One drivers, and even they have to pay the full freight costs for their cars. That’s the gospel according to Chief Marketing and Commercial Officer Enrico Galliera, who is often referred to within Maranello as the notorious “Dr. No.”

Galliera’s job with Ferrari is a complicated one that involves numerous roles. But what he’s famously known for is his distinction of being the man who decides which person deserves to own a limited-edition Ferrari. In his conversation with Drive, Galliera explained that certain aspects of his job are made difficult by the fact that not everybody can own a Ferrari model even if these people deserve it. “We have much higher demand than the availability,” he explained. “What we do is identify criteria that is rewarding good customers. The limited edition cars we consider a gift to our best customers." Indeed, these so-called “gifts” come in the form of low-volume supercars that Ferrari clients are more than likely to fight for. The most recent example is the LaFerrari Aperta, the convertible version of the LaFerrari hypercar. Galliera said the most difficult part of is job is rejecting established Ferrari customers, some of whom have been loyal fans of the brand. That tells you how strict Galliera and Ferrari are considering that Lee already has more than a dozen Ferraris to his name, including four new ones he ordered just to improve his rating with the company.

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Even Noted Ferrari Owners Aren't Immune To Getting Shut Down By Maranello

Even Noted Ferrari Owners Aren’t Immune To Getting Shut Down By Maranello

California-based Ferrari collector get stiffed on owning a Ferrari LaFerrari Aperta

Ferrari is known for being a purveyor of some of the finest performance cars the world has ever seen. That much is true. It’s also known for being particularly picky to whom it sells, particularly those limited-edition versions with a specific numbered quantity. Not everyone can get their hands on one, even if they distinguish themselves for being hardcore supporters of the Italian brand. The late Preston Henn found that out first hand when he was denied a Ferrari LaFerrari Aperta last year. Now, noted watch and jewelry entrepreneur David Lee has found himself in that list too… for the exact same reason.

Yes, Ferrari is shutting the door on the possibility of Lee ever scooping up any one of the 209 LaFerrari Apertas the Italian automaker plans to build. According to the LA Times, Maranello won’t give the exact reason why it’s giving the cold shoulder to one of its most esteemed collectors, but Lee himself sees it as a possible punishment for all his perceived grand-standing on social media. The man is known to have social media accounts that prominently feature his Ferraris. He might say it as helping the company get more exposure than it already has, but for an automaker that prides itself on being far removed from all the flashy self-promotion that has inundated social media these days, Lee’s constant habit of flaunting off his Prancing Horse models (he even owns one of Michael Schumacher’s Formula One\ cars from the 2002 season) likely runs counter to what the Italian automaker stands for.

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Breathe Easy, Purists – Ferrari Won't Turbocharge Its V-12 Engines

Breathe Easy, Purists – Ferrari Won’t Turbocharge Its V-12 Engines

… it will, however, turn them into hybrids

Ferraris and naturally aspirated V-12 engines. It’s like peanut butter and jelly, milk and cookies, social media and baseless political rants – some things just go together. Unfortunately, with rising pressure to reduce emissions and increase average efficiency, the N/A Ferrari V-12 is looking a bit like a square peg headed for a round hole. After all, consider what happened to the Prancing Horse’s V-8’s – the displacement went down and the boost went up, and while the net result was more power and more speed, the purists were quick to cry foul. Luckily, the Ferrari V-12 won’t be getting forced induction anytime soon, if Fiat Chrysler Automobiles CEO Sergio Marchionne is to be believed.

“We will always offer a V-12,” Marchionne recently told Autocar. “Our head of engine programs told me it would be absolutely nuts to [put a] turbocharger on the V-12, so the answer is no. It [will be] naturally aspirated, with a hybrid [system].” That’s great news for anyone fearful that a pair of turbines might spoil the V-12’s inherently quick throttle response and soaring engine note, but that last bit about hybridization might raise a few eyebrows. Read on to learn why it shouldn’t.

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Ferrari Could Find Itself In Serious Trouble If Scandalous Allegations Are Proven True

Ferrari Could Find Itself In Serious Trouble If Scandalous Allegations Are Proven True

Salesman’s allegations are potentially devastating

Just when you thought that the auto industry was on the mend after numerous scandals rocked it to its core, another potentially devastating scandal is on the horizon, this time involving Ferrari.

A report from The Daily Mail reveals that Florida-based Ferrari salesman Robert “Bud” Root has filed a pair of lawsuits in Florida alleging Ferrari of using a device that was designed to electronically roll back the digital odometers of Ferrari models that go on sale in the pre-owned (or second-hand) market. According to Root’s lawsuit, the practice of rolling back these odometers allows Ferrari owners to sell their Ferraris to unsuspecting buyers at grossly inflated prices.

The device is reportedly called the “Deis Tester, internet” and according to the lawsuit, it has been available since 2010 and has a software program that allows it to reset a Ferrari odometer back to as low as 0 miles. Not only that but Root also alleges that Ferrari headquarters in Maranello is complicit in the activity, even going so far as publishing a written policy manual detailing how the device works and having sole authority on when to actually use the device.

The lawsuit further adds that Ferrari “licenses the equipment, administers the passwords and remote log-in authorisations, electronically uploads and tracks functions through the use of the device - including odometer rollbacks - through aInternet connection, and stores the electronic data.”

As for why Root stepped forward threatening to blow the lid off of the allegedly illegal practice, it appears that the 71-year old salesman reportedly fired after discovering the use of the Deis Tester and implications it could have from a legal standpoint. Root even named one of his clients, retired Sara Lee CEO C. Steve McMillan, and accused him of paying off one of the dealership’s mechanics to roll back the odometer of his Ferrari LaFerrari back to 0 miles so he could sell it a higher price than what the car was supposed to be worth.

For its part, Ferrari of Palm Beach attorney Jason Kairalla issued a statement on behalf of the dealership, saying that it “does not litigate in the newspaper,” before adding its belief that the lawsuit filed by its employee “is wholly without merit and will be vigorously defended in court."

Meanwhile, the Italian automaker has also commented on the allegations, telling Motor Authority that the automaker does not comment on litigation that involves third parties with respect to Ferrari North America and the litigation does not involve Ferrari. The automaker threw in its own caveat, adding that it “reserves” the right to take all appropriate action against any party that has adversely affected its rights.

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Dear Ferrari, Please Stop Giving Childish Names to Your Supercars

Dear Ferrari, Please Stop Giving Childish Names to Your Supercars

Thank you!

Needless to say, Ferrari has been doing pretty well lately. It has a solid lineup consisting of four distinct models, it’s racing program is still winning races, it’s finally using turbocharged engines, and it’s doing a great job at keeping the naturally aspirated V-12 alive. But that’s not to say there isn’t room for improvement. For starters, I think that Maranello’s designs aren’t as exciting as they used to be. But this is another story for another time. My main rant with Ferrari is the way it’s been naming its cars.

Granted, Ferrari was never very creative with car names, having used numerals based on displacement and number of cylinders almost exclusively. On the other hand, it’s responsible for the iconic "GTO" badge, as well as names like Daytona and California, both pretty cool in my opinion. In the 1990s, Maranello began using actual words alongside numerals, coming up with badges such as Scuderia and Italia. Not very inspiring, but not bad either. The Ferrari Enzo, on the other hand, was a great tribute to the company’s founder, Enzo Ferrari.

But in 2013 Ferrari launched the successor to the Enzo and thought it’s a good idea to name it the LaFerrari. Maranello explained that LaFerrari means "The Ferrari" or the "Definitive Ferrari" and also said something about fashion and accessories, something I don’t really care about.

While I do understand Ferrari’s decision to highlight the LaFerrari as its greatest supercar, I think that the name is plain childish. For one simple reason. The LaFerrari will be almost obsolete in a few years when Ferrari will launch a supercar with 1,000-horsepower or something. Then what, Ferrari? Will you name it the LaBigKahuna? And besides, can you imagine what silly badges we could have if all automakers would start to behave like this?

Moving on...

After a short break, Ferrari decided that its existing cars also need a new name with their mid-cycle updates. This is how the FF became the GTC4Lusso. While this name isn’t half bad, Ferrari took the silly road once again by renaming the F12berlinetta into the 812 Superfast. There’s nothing wrong with 812, which stands for 800 PS (789 horsepower) and 12 cylinders, but Superfast? Have I been living under a rock and Ferrari is now owned by toy manufacturer Matchbox? I get it, the 812 Superfast is indeed impressively fast, but someone at Ferrari is also incredibly childish. Or is it superchildish nowadays?

I don’t know what the guy in charge of vehicle names has been drinking recently, but I sure hope it doesn’t spread to other brands. I hate to see other companies name their cars so that they can sell more t-shirts and smartphone covers to hipsters.

Anyway, I’d like to actually thank Ferrari for making the Prius and Huayra names seem a bit more tolerable.

Now if you’ll excuse me, I’m off to drive my LeChevy to the grocery store. I only hope that the guy who double parked his TheFord finally drove away.

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Ferrari Reconfirms The Death Of Its Manual Transmission

Ferrari Reconfirms The Death Of Its Manual Transmission

Manual ‘boxes aren’t quick enough for the Prancing Horse

Like the in-deck cassette player or the carburetor, the manual transmission seems to be inching ever closer to its ultimate demise. Sure, there are a few examples out there that go against the grain, but by and large, the trend is towards deleting that third pedal. Ferrari has played a significant role in this drift to the auto box, and unfortunately, it looks like the world-famous performance marque isn’t changing course.

That’s the word from Ferrari’s chief technology officer, Michael Hugo Leiters. According to the Australian publication Motoring, Leiters was asked at the 2016 Paris Motor Show if Ferrari would ever consider a future model equipped with a manual transmission. Leiters’ answer was crystal clear: “Technically spoken, no.”

As it turns out, only the latest double-clutch boxes offer the sort of performance that Ferrari is looking for. Pair that with a decline in demand, and you end up with a dead technology.

Of course, even a cursory glance at the collector market reveals that manual-equipped Ferraris tend to have the highest resale value. But for Ferrari, that doesn’t justify a return to stick shifts.

“I’m not sure exactly but I think the total manual order was between three and five cars,” said Nicola Boari, Ferrari’s marketing head, in regard to the California. “It led to the conclusion that if you find one of those five cars in the market the value will be extremely high, but that’s a different subject.”

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Car Collector And Racing Legend Denied LaFerrari Spider; Sues Ferrari for Defamation and Reputational Injury

Car Collector And Racing Legend Denied LaFerrari Spider; Sues Ferrari for Defamation and Reputational Injury

Preston Henn wants in excess of $75,000 from Ferrari for embarrassing his status as a loyal member of the Tifosi

85-year-old Preston Henn prides himself on being one of America’s most famous car collectors who also happens to be a former 24 Hours of Daytona winner and a flea market baron who founded and grew the Fort Lauderdale Swap Shop in Lauderhill, Florida. But none of those things are why he’s in the news these days. Okay, that part about being a famous car collector is tied into it, but that’s the extent of it. Preston Henn is in the news because he’s upset at Ferrari for deeming him unqualified to buy the Ferrari LaFerrari Spider. In fact, Henn is so ticked off that he’s taking the Prancing Horse to court over this perceived slap in the face.

Documents that were first brought to light by Autoweek revealed that Henn was not only calling the Italian automaker out, he’s actually suing Ferrari North America in excess of $75,000 over what he claims as statements made by the company that harmed his reputation as a loyal member of the Tifosi.

In the legal documents, Henn claims that he went to his local Ferrari dealership to place an order on the LaFerrari Spider, only to be rebuked for reasons that are still unknown to him. Undeterred, Henn wrote letters to the Ferrari brass and other execs from FCA, including CEO Sergio Marchionne. The letter to Marchionne also included a check worth $1 million as a deposit on the car.

To Henn’s dismay, the check was returned to him along with a message from Ferrari’s media manager, Enrico Galleria, saying that “all units have been already sold” and a reminder not to mail checks with that amount to Ferrari or any of its managers because they would not be held responsible if the checks ended up getting lost.

Feeling embarrassed by Ferrari’s cold shoulder treatment, Henn is taking the fight through the legal system and is insisting on a jury trial. For its part, Ferrari has yet to comment on the issue but considering the 85-year old’s status as one of the premier Ferrari car collectors in the world, a response from Maranello should be imminent.

Or maybe not. Either way, we’ll update everyone on the developments of a news story that has since turned into a legal drama.

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Sergio Marchionne Named Ferrari CEO After Amedeo Felisa's Retirement

Sergio Marchionne Named Ferrari CEO After Amedeo Felisa’s Retirement

Felisa will continue to be a part of Ferrari’s board as a "technical advisor"

Sergio Marchionne is a man of many hats and responsibilities. He’s already the CEO of Fiat Chrysler Automobiles and, just recently, he’s also been appointed as the CEO of Ferrari after the retirement of longtime chief executive Amedeo Felisa. The announcement was made shortly after Felisa’s retirement, with Marchionne immediately assuming all the responsibilities of Felisa while also retaining his current role as chairman. In other words, Marchionne is now the chairman and CEO of Ferrari, as if he didn’t have enough roles and responsibilities.

For his part, Felisa leaves behind a stellar career in Ferrari where he has been for the past 26 years. He first joined the Prancing Horse in 1990 after spending the better part of 20 years with Alfa Romeo. In 2001, he was put in charge of Ferrari’s road-car division, a role he served for five years before being named general manager in 2006 and later on as CEO in 2008. Judging by how much Ferrari has evolved in the past eight years, it’s safe to say that Felisa has had a big hand in the current state of the Italian automaker, including a banner sales and revenue year in 2015 when it shipped of 7,664 units, 6 percent better than its tally in 2014.

No mention was made on why Felisa decided to hang his boots, but now that he’s on his way out, Marchionne will be in charge of running the company more directly since assuming the chairman role from his predecessor, Luca di Montezemolo, back in 2014. As for Felisa, his retirement won’t affect his position on the company’s board as he will continue to serve as a technical adviser for the company - similar to Jean Todt, who was given the same title when he was replaced by Felisa as CEO in 2008.

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Ferrari Wants To Hit 9,000 Units A Year By 2019

Ferrari Wants To Hit 9,000 Units A Year By 2019

After years of resisting the urge to boost its output, Ferrari is now seriously considering upping its production capacity as it begins dealing with the responsibilities of being on its own. Ferrari chairman and CEO, Sergio Marchionne, told reporters at the 2016 North American International Auto Show that Maranello is considering this move in light of growing pressure to validate the company’s decision to split away from parent company Fiat Chrysler and become its own company.

It hasn’t helped Ferrari’s cause that its stock prices have fallen 16 percent since its initial public offering back in October 2015. It may not be reason for panic in Maranello, but if those prices continue to trend south, then there’s going to be a lot of frantic people over in Italy. So, Ferrari is now considering something it was previously rigid against. According to Marchionne, the company is looking at whether its existing market would be able to handle having more than 9,000 Ferrari units being sold in 2019. That total isn’t really that far from its projection of selling 7,700 units in 2015, a number that would already be an increase of 500 units from the 7,200 models it sold in 2014.

In theory, the company could jumpstart this expansion by introducing an entry-level model that could sit just below the California T. Such a model - a possible revival of the Dino nameplate - has already hit the rumor mill and could be in line to receive a turbocharged V-6 engine. Marchionne himself told Autocar back in June 2015 that a V-6 Ferrari is ”not a question of if but when."

Still, reaching 9,000 units also presents its own challenges, especially now that performance cars are being sold less in China, a traditionally bullish market for Ferrari. If the company does strive for 9,000 units by 2019, it would have to rely on the U.S. and North America to account for the biggest chunk of that volume. IHS Automotive estimates that the U.S. alone would account for 35 percent of deliveries by 2020.

Whatever steps Ferrari takes in the next few years, it’s clear that it’s going to have to sacrifice a few things in order for its business to continue at its current level. Whether that sacrifice is geared towards its image or not is a question only the company can answer in due time. But, the point is clear. Ferrari’s independence means that it’s going to have to make its own decisions from here on out.

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FCA Split With Ferrari Now Complete, Ferrari Shares Struggle In First Trading Day In Milan

FCA Split With Ferrari Now Complete, Ferrari Shares Struggle In First Trading Day In Milan

It was simply a question of ‘when’ as opposed to ‘if’ it was going to happen, but finally, it can be put to rest. Ferrari has officially broken away from Fiat Chrysler Automobiles (FCA). The move has been years in the making and all signs pointed to an eventual split when the Italian automotive giant announced Ferrari’s initial public offering back in October 2015. With the spin-off completed, FCA’s current shareholders are entitled to receive one common share in Ferrari for every ten shares they have in Fiat Chrysler. In addition, individuals who hold FCA mandatory convertible securities are allowed to receive 0.77369 shares of Ferrari for each MCS unit of $100 in notional amount. Following the separation, a total of 188,923,499 common shares in Ferrari are outstanding, while the issued common shares in the capital of Ferrari stands at 193,923,499.

These shares account for 80 percent of the company’s ownership, which until today, was controlled by FCA. Ten percent of the company is still owned by Piero Ferrari, the son of Ferrari founder Enzo Ferrari, while the other ten percent was floated as part of the company’s IPO late last year.

FCA shareholders who also participate in the company’s loyalty voting program are entitled to receive voting shares in the same proportions - one special voting share of Ferrari for every 10 special voting shares of FCA. All in all, 56,497,618 special voting shares were issued and are outstanding as of the completion of the Maranello-based company’s split from its former parent company.

Despite the major shakeup, Ferrari common shares will continue to be traded on the New York Stock Exchange under the now familiar RACE ticker symbol. Likewise, these common shares have also been approved for listing at the Mercato Telematica Azionario where it began trading on January 4, 2016 under the same RACE ticker symbol. Unfortunately, the company’s debut in the Milan stock exchange stalled after its share prices dipped from €43 to €41.75 amid concerns caused by the unpredictability of the Chinese markets. The shares eventually recovered, closing at €43.46 upon the end of the trading day.

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Ferrari Plans To Increase Production By 30 Percent

Ferrari Plans To Increase Production By 30 Percent

Ferrari’s planned initial public offering later this month will result in a number of things for the high-end car manufacturer, one of which would be the company’s desire to ramp up production from about 7,000 units to around 9,000 units annually by 2019, representing a 30 percent increase.

The storied automaker is expected to begin trading next week at the New York Stock Exchange where it plans to sell 17,175,000 shares to the public as part of its planned spin-off from Fiat Chrysler. Share are expected to be priced at around $48 to $52 each. Financial underwriters like UBS and Bank of America will also have the option to sell an addition 1,717,150 shares. If the company times the IPO market correctly – something that’s not a certainty in the current stock market climate – the company walk away from the shares sale with a value of as much as $9.8 billion.

On the surface, the decision appears to be sound if the company is serious about its plans to increase production in response to what it says is a “growing demand in emerging markets.” It’s what any other company would do if it were in the same situation.

But Ferrari’s a different case altogether because it’s not just any other company. A big part of its reputation as the most desirable supercar manufacturer in the world is its exclusivity. Not everyone can own a Ferrari and even those who do have the financial capacity to buy its models often have to wait as much as a year to get the car. Making these models more accessible to the market could be interpreted as the company losing that halo on its head that endeared it to Ferrari buyers and collectors in the first place.

For its part, Ferrari doesn’t seem to be concerned with the perceived backlash that will come with the IPO and its intention to ramp up production by 30 percent. The company believes that it will still retain its “exclusive” status; it just wants to address the growing demand for its cars, something this public offering can do. It even said as much in its filing, stating that it plans to maintain its reputation of exclusivity and scarcity by “deliberately monitoring and maintaining [its] production volumes and delivery wait times to promote this reputation."

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Ferrari Develops New Modular Vehicle Architecture

Ferrari Develops New Modular Vehicle Architecture

If you haven’t been paying attention to the automotive industry, you probably don’t know much about the global platform race. The concept is to build a single platform that can support most of a given manufacturer’s models, while still complying with safety requirements in practically every market worldwide. Volkswagen was the first manufacturer to put one to use — the MQB platform — with the 2013 Audi A3 and the 2013 Volkswagen Golf VII, and it will eventually underpin most models from Audi, Volkswagen, Skoda and Seat. What does any of this have to do with Ferrari? Well, it is looking to drop production costs and simplify production too. And, for that reason, Ferrari has developed a new modular platform that will underpin most future models.

The first Ferrari to be built on this new platform will be the new Ferrari California that we expect to see in 2017. The 2018 Ferrari Dino will likely be the next. By 2018 or 2019 you can expect most models – including the F12, FF and the replacement for the 2016 Ferrari 488 GTB — to have nearly identical architectures. The new lightweight, aluminum space frame will support front- and mid-engine configurations, and will enable engineers to swap out things like the engine, electrical components and suspension components easily. The real question is: What does this mean for Ferrari? Will this mean potentially lower prices on the showroom floor, or just a cheaper-built car with more profit in the pockets of the bean counters? Read ahead to see my take on things.

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