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Ferrari's Vettel sets lap record and take pole position for Chinese Grand Prix

SHANGHAI – Ferrari made Formula One rivals sit up and take notice after an ominous show of speed in qualifying for Sunday's Chinese Grand Prix. World championship leader Sebastian Vettel took pole position with a lap more than half a second faster than that of Valtteri Bottas, the fastest of the two Mercedes drivers in third place. The German's best time of one minute, 31.095 seconds – a Shanghai circuit record – turned up the heat on a chilly afternoon with Finnish team mate Kimi Raikkonen joining him on the front row. "We thought coming into today that we would be fighting for the pole position," said Bottas, whose reigning champion team mate Lewis Hamilton qualified fourth after aborting his final flying lap. "But it was definitely out of reach today, there was nothing in the lap that we could have gained that much." "I don't know if we can challenge, we're half a second behind today," added Hamilton. "We were quicker in the race in the last race (Bahrain) but they (Ferrari) were able to hold on. They will probably do the same tomorrow." Dominant isn't a word that has been used to describe Ferrari since they chalked up five straight drivers' titles and six consecutive constructors' crowns with Michael Schumacher, but they were imperious on Saturday. The front row lockout was their second in a row after Vettel beat Raikkonen to pole last weekend in Bahrain. "Ferrari were just way too quick," said Red Bull's Max Verstappen, who was fifth fastest but a hefty 0.701 seconds off Vettel's pace. "Somehow they've found a turbo button on the straight because they are really quick and still in the corners they are reasonably quick." Verstappen's Red Bull teammate Daniel Ricciardo added, "Ferrari has had really good pace all weekend and I can't say honestly now that we're going to have their pace tomorrow, but Mercedes definitely look within reach." Ferrari's speed had already stunned rivals after Friday's opening day of practice pointed to a close battle, even if Hamilton was top of the timesheets. With temperatures plunging on Saturday, the scarlet cars seemed to come into their own. Vettel, who holds a 17-point lead over Mercedes rival Lewis Hamilton after winning in Australia and Bahrain, is looking good for a hat-trick. No driver has ever won the season's first three races without being crowned champion that year, and the last Ferrari driver to do it was Schumacher in 2004 when he was at the peak of his powers and won the opening five.

Fiat gives outgoing Ferrari chairman $35M severance package

Luca di Montezemolo may not have wanted to leave Ferrari this way, but don't feel too bad for the departing chairman, because he'll be hitting the ground with a golden parachute so big that he'll never have to work again.
According to the latest reports, Fiat will pay Montezemolo 26.95 million euros (nearly $35 million) in severance pay. A little more than half of that will be paid in a lump sum of 13.71 million euros ($17.7M, equivalent to five times his annual salary) on January 31, 2015, with the rest to be paid within the next 20 years.
The payment is contingent on Montezemolo not going to work for a competitor, so don't expect to see him replacing Stephan Winkelmann at Lamborghini or Wolfgang Dürheimer at Bugatti any time soon. At least not until March 2017. Of course with that much cash on hand, the 67-year-old marquis need never work again, but considering how busy he's used to keeping himself, we'd be surprised if he didn't pop up again somewhere.

Ferrari IPO may turn out to be good news for enthusiasts

Sergio Marchionne's strategy to spin off Ferrari from FCA and make the Italian automaker a publicly traded company has been met with ire from a vocal contingent of enthusiasts ever since rumors about the plan began to surface a few years ago. Some of these particularly pessimistic automotive pundits have voiced fears that with stockholders in the mix, it would not only spell the demise of the exclusive Italian supercar maker as we know it, but would in fact "ruin" the company. Call me dense, but I fail to see what the issue is. That isn't to say that I don't understand what's causing the fear. When profitability becomes a higher priority for a brand that's historically relied on exclusivity to keep its products in the highest echelons of desirability, there's a high potential for internal philosophical conflict. And then there are concerns about the sorts of products that Ferrari might develop that aren't the high-performance sports cars that the brand is known for. But individuals with those apprehensions seem to forget that Ferrari has already lent its name to a multitude of things that are not LaFerraris, 488 GTBs, or F12 Berlinettas, including clothing, headphones, and even laptops. But let's assume for a moment that the core anxiety is about future vehicles – including the unspeakable notion that Ferrari might develop an SUV. Why wouldn't Ferrari build an SUV, especially after seeing how incredibly successful that endeavor has been for Porsche? I think it's likely that Ferrari will put engineers to task creating some sort of crossover or high-rolling cruiser with room for the whole family at some point in the near future. And why wouldn't it, after seeing how incredibly successful that endeavor has been for Porsche? After all, the Cayenne accounted for more US sales in 2013 than the Boxster, Cayman, 911, and 918 combined, and it only gave up about a thousand units of sales last year to make room for the Macan crossover, the latter of which Porsche sold nearly as many of as it did Boxsters and Caymans. People want these vehicles, and they're willing to pay quite a bit of money for them. If we use Porsche's recent trajectory as a foreshadowing metric for what's in store for Ferrari, the future actually looks pretty good. After all, those SUV sales keep plenty of cash in Porsche's coffers for the low-volume projects that we enthusiasts love, like the 918 Spyder and the 911 GT3 RS.