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Ferrari worth over $11 billion, says Marchionne ahead of IPO

We all know that cars from Ferrari sell for hundreds of thousands, if not millions of dollars. But how much is Ferrari worth as a company? At least ten billion, according to its chairman. Speaking at the launch of the revised Fiat 500 in Turin on Friday, Fiat Chrysler CEO and Ferrari chairman Sergio Marchionne said he expected the vaunted Maranello-based supercar manufacturer and racing team to be valued at over 10 billion euros, or about $11 billion at current exchange rates. As Bloomberg points out, that would make Ferrari alone account for some 60 percent of the value of its parent company Fiat Chrysler Automobiles, which is currently valued at over 16 billion euros. That may seem like an aggressive estimate, but we won't have to take Marchionne at his word for long. After having floated an Initial Public Offering on the New York Stock Exchange last year, Fiat Chrysler is preparing to do the same with its Ferrari unit as soon as October. FCA will not, of course, be selling off all of its shares. The projected scheme would have ten percent (worth about one billion by Marchionne's estimates) of Ferrari's shares floated on the NYSE. Another 10 percent is expected to remain in the hands of founder Enzo's son (and company vice chairman) Piero Ferrari's hands. The remaining 80 percent is slated to be distributed among Fiat Chrysler's existing stakeholders.

2019 Ferrari 488 Pista First Drive Review | Quantum physics

MARANELLO, Italy — Ferrari's special-edition V8s have a long history of delivering more than the sum of their individual parts. The 360 Challenge Stradale (2003), 430 Scuderia (2007), and 458 Speciale (2013) each leapfrogged the capabilities of their donor cars to cement their notoriety in supercar history. The latest in that lineage is the Ferrari 488 Pista, a hopped-up variant that is the most powerful road-going V8 in Ferrari history. The Pista is so quick that its lap time around the company's own private Fiorano circuit is only 1.8 seconds behind the LaFerrari. With 49 more horsepower pushing around 198 fewer pounds, the $345,300 488 Pista looks, at least on paper, like a no-brainer for deep-pocketed speed fiends. But there are also a slew of tiny changes that alter its persona — 50 percent of the engine components are new — as well as intangible characteristics. The carbon fiber intake manifold, for instance, shaves weight but also features shorter, lower-volume intake runners for better throttle response. The turbocharger's turbines are composed of a new aluminum-titanium alloy that slashes inertia in half, trimming the powerplant's already minimal turbo lag. Titanium connecting rods aid cylinder acceleration. And new robot-welded Inconel exhaust manifolds are 10-percent wider and slightly longer, offering reduced back pressure and a throatier note. Coupled with reduced sound-deadening materials, the pipes are responsible for more engine sound reaching the cabin. Before tackling the famed Fiorano track, I drive the 488 Pista on the street to see what 710 horsepower in a twin-turbo Ferrari feels like, and my first impressions came on thick. Sure, there's the expected interior upgrades of copious Alcantara and carbon fiber, visible aluminum floor plates, and massive carbon paddles borrowed from the 488 Challenge race car. Hold the red steering wheel-mounted engine start button with a press of the big drilled aluminum brake pedal, and the 3.9-liter V8 fires up with a noticeably more bass-heavy thrum than before, the first hint that this is an entirely different beast than the off-the-rack 488. Leave the seven-speed dual-clutch in automatic, and gearshifts happen remarkably smoothly, even in the second-most aggressive "CT Off" mode, which removes traction control but keeps stability control active.

LaFerrari, meet YouTube. YouTube, LaFerrari

If, for some reason, you feel like we've left anything out of our coverage of the exciting new LaFerrari unveiled today in Geneva, don't fret - Ferrari has us covered. The automaker has graced us with a total of seven videos of its new hybrid supercar today including the original launch video we already showed you this morning.
The six new videos discuss a broad spectrum of topics, such as LaFerrari's overall architecture, carbon fiber chassis and body, driving dynamics and the 160-horsepower HY-KERS (HYbrid Kinetic Energy Recovery System) part of the powertrain. There is also coverage of today's auto show unveiling and, our favorite, a short video showing the car being tested around the Fiorano Circuit plus some bonus footage of past Ferrari supercars like the GTO, F40, F50 and Enzo.
In total, there is almost 30 minutes of video goodness to bring you just about all the information there is to know about LaFerrari, and all seven videos are posted below.