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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.

Weekly Recap: Ferrari plans to gradually increase production by 2019

Ferrari has long been known for the exclusivity of its performance machines. It's on a different level than Porsche, BMW, and Mercedes. But as it transitions to a new era of independence from Fiat Chrysler, Ferrari is going to get a little less exclusive. It's by design, and it means a subtle, slow ramp-up of production – a move Ferrari believes will ensure its future by meeting growing demand in new markets. The strategy was detailed in SEC documents filed this month as part of the company's pending stock offering. The files reveal Ferrari will gradually increase shipments to about 9,000 units per year by 2019. This is a reversal of Ferrari's 2013 plans to cap production at 7,000 cars annually, which it hit on the nose that year. Ferrari shipments inched up to 7,255 in 2014, though that's down from 2012's record tally of 7,405. Ferrari is a vastly different operation than it was in 2013. Longtime chairman Luca di Montezemolo stepped down last fall, and FCA chief executive Sergio Marchionne has been overseeing the company since then. Its IPO has attracted high levels of attention from enthusiasts and investors. As expected, demand has reportedly outstripped the availability of the stock, which has an estimated offering price of $48 to $52 a share. Speaking of more Ferraris, the company revealed a limited-edition model this week called the F12tdf (shown above). Based on the F12 Berlinetta, the car is a salute to the Tour de France endurance auto race that Ferrari dominated in the 1950s and '60s. The V12 engine's output increases to 769 horsepower, while weight is cut by 243 pounds – allowing for a sprint to 60 mph in 2.9 seconds. Dramatic carbon-fiber elements and a radical redesign of the body panels give the F12 a more dramatic look. It will be limited to 799 units over the life of the car. If this is how Ferrari is increasing production, we're more than okay with the company's new strategy. OTHER NEWS & NOTES Tesla software unlocks Autopilot features Tesla released the latest version of its software for the Model S this week, which allows the all-electric sedan to drive in a semi-autonomous state called Autopilot. Tesla Version 7.0 enables the Model S to maintain lane position, change lanes by touching the turn signal, and manage the car's speed using an advanced, traffic-sensing cruise control. It also has a parallel parking feature, which searches for open spots and then parks your Tesla.

New ‘Magnum P.I.’ has fake Ferrari, fake Tom Selleck

Wait, that's the new "Magnum P.I."? That guy? Really? I mean, he doesn't need to have a mustache. Or a Hawaiian shirt. Or really short shorts. But come on, there's nothing displayed by Jay Hernandez in the above "Magnum P.I." trailer that says, "I have charisma and likability comparable to Tom Selleck." Now, is that even possible? Probably not, Tom Selleck is, well, Tom Selleck. But much as Chris Pine successfully captured Captain Kirk's bravado without doing a William Shatner impression, something close is possible. But hey, there's a red Ferrari! It's a 458 Spider, it gets shot to pieces and then smashed by a truck. Of course, the keen, sleuthful eye of our Jeremy Korzeniewski notes that it isn't really a Ferrari and instead is likely a GM F body underneath (look for the round instrument cluster in the brief interior shot and the weirdly shaped HVAC vents at the 10 and 2 o'clock positions). So, the Ferrari's a fake too. But wait! New Magnum also seems to drive old Magnum's car: a Ferrari 308 GTB. It also gets destroyed. (Seriously, spoilers much?) This time it's totally CGI'd so I'm guessing the GTB is for the most part the real thing. Hawaii also seems to be the real thing. So, does this make you want to watch the new show, coming this fall to CBS? Alternatively, you could probably stream the old show somewhere. Oh Tom Selleck, you charming devil, you. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Celebrities TV/Movies Ferrari Videos