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Ferrari's stock price falls off a cliff

The stock price skidded. The stock price stalled. Use whatever automotive analogy you want. It was a bad day for Ferrari on the New York Stock Exchange. Warning that sales growth would slow because of the economic slump in China, Ferrari NV watched its stock price slump accordingly. Shares of the company were down more than 13 percent in afternoon trading, falling to $34.64. Sprung from the Fiat Chrysler Automobiles less than four months ago, Ferrari's stock has lost a third of its value since its October initial public offering and is nearly half the price of its $62 high set days after the IPO. In a conference call with investors, chairman Sergio Marchionne said the company expected to ship approximately 7,900 vehicles this year. Marchionne said the company would be "fine" over the long term as long as it maintains a decades-long philosophy of maintaining strong demand. That means Ferrari won't follow some of its sports-car competitors who have broadened their vehicle portfolio's with the addition of SUVs. Marchionne bristled at such a suggestion. "You have to shoot me first," he told Bloomberg. But never say never? Previously, Ferrari had restricted its output to 7,000 vehicles per year. The company is already past that number, and Marchionne foresees the possibility that it could rise to approximately 9,000 by 2019. In a regulatory filing, Ferrari said, "we believe we can grow in a controlled manner while preserving the exclusivity of our brand by continuing to explore controlled growth in emerging markets to capitalize on the substantial wealth creation and the growing affluent populations in those markets." For now, those markets won't include China. Shipments there decreased 22 percent in 2015, even as worldwide output increased. Related Video:

Ryan Tuerck's Ferrari-powered Gumout GT4586 debuts at SEMA

Las Vegas is famous for its shotgun marriages, but the only Sin City nuptials we're interested in is the one officiated by Ryan Tuerck between a Toyota GT86 and the V8 engine from a Ferrari 458 Italia. The insane Gumout GT4586, as it's called, is probably one of the most well-known of the 2016 SEMA Show's stars, after video popped up showing the rear-drive Frankenstein firing up and spitting flames through its weird, front-mounted exhausts. The day after we published that video, which showed the GT86 in mostly bare frame, Gumout and Tuerck posted a second clip showing the Japanese-Italian coupe literally running rings around a 458 while wearing its sheetmetal and yellow-tinted headlights. The car's look in that second video carried over to the Las Vegas Convention Center floor, where the GT4586 showed up sans hood, ludicrously wide tires, and a huge wing and rear diffuser. It's clearly a good-looking car. You can check out our full SEMA gallery above, or, click the video below for a second look at Tuerck's Ferra-yota in action below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Ferrari issues stop-sale order on 488 GTB for fire risk

The Basics: Ferrari North America has issued a stop-sale notice to its dealers regarding 2016 models of the new 488 GTB. The Problem: As with the earlier recall of the California T, the issue stems from low-pressure fuel line that may not connect properly to the feed pipe of the fuel pump. That could cause a fuel leak in the engine compartment, which could in turn start a fire. Injuries/Deaths: None reported. The fix: Dealers will need to replace the fuel line assembly. If you own one: All the problematic units of the 488 are in dealer hands. According to the statement below from the National Highway Traffic Safety Administration, "no un-remedied Ferrari 488 vehicles have been sold to the public." Ferrari S.p.A. informed Ferrari North America, Inc. (FNA) of the possible defect on the low pressure fuel line connection of the fuel pump provided by Ferrari's supplier Dytech – Dynamic Fluid Technologies S.p.A. on 11/17/15. Ferrari S.p.A. has informed FNA that during a routine pressure check for Assembly Line Testing on 11/04/15, they found a small air leak on the above described pipe connection. On 11/05/15 Ferrari S.p.A. extended their testing to evaluate vehicles that had been produced with the same batch of low pressure fuel lines. On 11/17/15 Ferrari S.p.A. concluded the investigatory testing and determined that the fuel vapor leak was a safety defect. With regard to the Ferrari 488 vehicles, on or about December 10, 2016 Ferrari determined that affected vehicles had left our control bound for various Ferrari dealers. We have notified our dealer network with a "Stop Sale" Notice informing them that this recall must be performed before the affected vehicles are sold to customers. It is important to note that no un-remedied Ferrari 488 vehicles have been sold to the public.