2002 Ferrari 360 Coupe! "rosso Fiorano" Trades? on 2040-cars

Auto blog

Ferrari CEO could retire Friday letting Marchionne step in

Rumors once again suggest that current Ferrari CEO Amedeo Felisa plans to retire from the role. Anonymous insiders tell Bloomberg that the announcement could come as soon as April 15, with an announcement at the company's upcoming investors meeting. Sergio Marchionne is the favorite to become the new CEO, the unnamed sources claim. Felisa would step down as CEO after Ferrari nominates its new board of directors, according to Bloomberg. He would likely retain a seat on the board and could still do some work at the company. Felisa joined the sports car maker in 1990 as director of product development. He replaced Jean Todt as CEO in 2008. Marchionne is already Ferrari's chairman, and taking on the CEO role in addition would give him greater control over the brand's future. Bloomberg's insiders note that Marchionne's takeover isn't final yet, and someone else could conceivably get the role. The sweater-wearing exec has a clear view for Ferrari's future, though. He plans to increase volume to around 10,000 vehicles a year, but he's staunchly against building an SUV or an EV. If he takes control, expect him to work out a plan to increase the Prancing Horse's share price. At its October IPO, the stock started at $52 a share; today it opened at $41.24. Rumors about this shift have been swirling for months. For example, reports from Italian media in June 2015 suggested Felisa would retire as CEO. Subsequent rumors claimed Marchionne was the frontrunner to take over the position. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Luxury carmakers make way more than just cars

Whether it's as simple as Ferrari offering model cars or as opulent as Bugatti with an $84,000-belt buckle, practically every automaker does more than just sell cars to keep their brands visible. The profits from these ventures might not be enough to keep the lights on, but in such a competitive industry, any extra cash is welcome. For the automakers that get licensing just right, there is a ton of profit to be made. According to a recent story examining the practice by The New York Times, Ferrari makes around $2.6 billion from merchandising each year, and General Motors tops that at $3.5 billion. Beyond just a profit center, merchandising can also protect an automaker's name. Take Hummer for example. The GM division shut down years ago, but it has continued to produce licensed cologne on sale around the world. "Because we still have the active fragrance, we're protecting the brand if we ever decide to bring it back," Gene Reamer, a GM licensing senior manager, told the Times. The whole piece is a fascinating look into this often ignored, but quite lucrative facet of the auto business. Read it for yourself, here. Related Video: News Source: The New York TimesImage Credit: Luca Bruno / AP Photo Design/Style Earnings/Financials Marketing/Advertising Read This Ferrari GM Hummer branding

Ferrari building 350 unique special editions for its 70th anniversary

Ferrari has been in business since 1947, which makes 2017 the automaker's 70th birthday. To celebrate its old age, the company has reportedly decided to create 350 bespoke special editions, each different from the next. According to Autocar, the company made the announcement to 100 owners and collectors in Venice, Italy, last weekend during the Ferrari Cavalcade. The 350 unique models will come from Ferrari's current lineup, and will include 70 each of the California T, 488 GTB, 488 Spider, GTC4 Lusso, and F12 Berlinetta. The Italian automaker chose 70 of the most iconic vehicles from its past to inspire the upcoming special editions, with each of the 350 examples being unique. To get this level of exclusivity, the Tailor-Made division, which handles the company's extra-custom orders, will lend a helping hand in design. The hardest thing for Ferrari, however, won't be putting 350 unique models on the road, but deciding how to pick which owners and collectors get the opportunity to purchase them. According to Ferrari boss Sergio Marchionne, that is "the most difficult part of what I do." Yep, sounds like a tough job, turning away millionaires. Autocar reports that Ferrari will reveal the 350 special-edition models at the Paris Motor Show in October, but that sounds like a difficult task. We're guessing they won't all be present, but that would sure be a sight to see. Related Video: