2007 Ferrari F430 F1 Coupe 2-door 4.3l on 2040-cars

Auto blog

Sebastian Vettel says he's struggling with his Ferrari in Silverstone

SILVERSTONE, England — Sebastian Vettel said he had struggled to get the right feel for his Ferrari after qualifying a disappointing sixth at the British Grand Prix on Saturday. The four-times world champion, and last year's race winner at Silverstone, will line up a row behind Monegasque teammate Charles Leclerc, in third, and with both the Red Bulls also ahead of him. It was the third race in a row that Vettel had been out-qualified by the 21-year-old, in Leclerc's first full season with Ferrari. Leclerc was on pole in Austria, with Vettel 10th after being sidelined with a power unit problem, and third behind the Mercedes drivers in France while the German was seventh. "I think I just struggled to extract what was in the car," Vettel told reporters. "I just couldn't get the right feel. Not happy with how it went. "I should be more competitive in the race but lately (I've) been struggling a little bit to just extract that one lap, get a great feel for the car. It's been a bit up and down the whole weekend. "It didn't look great on my side," he added of the session on a cold and overcast afternoon. "I struggled to feel the car today and just couldn't get on top of it. It wasn't the best day," added Vettel. Valtteri Bottas starts on pole for Mercedes with five-times world champion teammate Lewis Hamilton, the overall leader, alongside on the front row. The champions have won eight of nine races so far, with Red Bull's Max Verstappen taking the other. "Mercedes should be the favorites but I think we have a fair battle with the Red Bulls and take it from there," commented Vettel, who has not won a race since Belgium last August. "For sure Mercedes is very strong so they will be difficult to beat." Motorsports Ferrari Mercedes-Benz Racing Vehicles Sebastian Vettel

Ferrari celebrates at Hong Kong's Asia World Expo

More than 600 Ferrari models, representing every era of the famed automaker's production, celebrated 30 years of presence in Hong Kong with a gathering at the Asia World Expo this past weekend. The event marked the largest single gathering of Maranello's sports cars ever organized in China. The weekend culminated with Marc Gene, Scuderia Ferrari's test driver, unveiling the new 458 Speciale.
There are only about 1,700 Ferrari owners in China, and they boast an average age of just 35 years. The young clientele in the Asian market often take advantage of Ferrari's 'Tailor Made' bespoke program and they have a growing interest in racing. The automaker says that many will travel to the Mugello circuit in Italy to participate in the final event of the Asia Pacific series of the Ferrari Challenge in a couple weeks.
"I am pleased to be here to celebrate Ferrari's thirty years in Hong Kong, along with so many owners who share our passion and the search for excellence, exclusivity and innovation," said President Luca di Montezemolo. The video shows hundreds of Ferraris, in popular white, yellow and red, being arranged indoors to form the Bauhinia Blakeana, a five-pedal flower that is the characteristic symbol of Hong Kong. Apparently owners of the more exclusive Blu Scozia, Avio Met and Vinaccia colors were asked to park outside. Scroll down below for a video and press release detailing the event.

Ferrari borrows $2.6 billion to finance FCA spinoff

Ferrari announced Monday that it is borrowing about $2.6 billion to finance its spinoff from Fiat Chrysler Automobiles. Here's how it breaks down: Ferrari NV, the automaker's parent company based in the Netherlands, is taking out loans totaling 2.5 billion euros. That's equivalent to $2.64 billion at current exchange rates, and is divided between a term loan of $2.12 billion and a revolving credit facility of $529 million. The larger term loan "will be used to refinance indebtedness owing to Fiat Chrysler Automobiles," among other purposes. That ought to constitute the lion's share of the $2.38 billion which the Prancing Horse marque was, according to reports last year, slated to pay its current parent company in order to help FCA fund its ambitious growth plans. The separate line of credit is earmarked "to be used from time to time for general corporate and working capital purposes of the Ferrari group." Though Ferrari is not expected to take any other Fiat Chrysler properties with it, the "group" in this case would include its various financial services and distribution arms around the world that may have been separately incorporated. As noted in the statement below, the financial arrangement "represents a further step towards the separation of Ferrari from the FCA Group," following the separate stock issues from both companies as independent from each other. FERRARI N.V. SIGNS ˆ2.5 BILLION SYNDICATED CREDIT FACILITY Ferrari N.V. (NYSE: RACE) ("Ferrari") announced today that it has entered into a ˆ2.5 billion syndicated loan facility with a group of ten bookrunner banks. The facility comprises a bridge loan (the "Bridge Loan") and a term loan (the "Term Loan") of ˆ2 billion in aggregate and a revolving credit facility of ˆ500 million (the "RCF"). Proceeds of the Bridge Loan and Term Loan will be used to refinance indebtedness owing to Fiat Chrysler AutomobilesN.V. (NYSE: FCAU) ("FCA") and other indebtedness and for other general corporate purposes. Proceeds of the RCF may be used from time to time for general corporate and working capital purposes of the Ferrari group. The Bridge Loan has a 12 month maturity with an option for Ferrari to extend once for a six-month period. Ferrari intends to refinance the Bridge Loan prior to its maturity with longer term debt, including through capital markets or other financing transactions. The Term Loan, which comprises a majority of the total facility, and the RCF each have a maturity of five years.