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Ferrari third-quarter profit doubles on one-off tax break

MILAN — Ferrari says its net earnings doubled in the third quarter thanks mostly to one-off tax benefit. The sports car maker said Monday that net earnings were 287 million euros ($327 million) compared with 141 million euros a year earlier. The company said earnings grew 5 percent when excluding the so-called patent box tax break, agreed on with Italian authorities, covering use of copyrights, patents, trademarks, design and know-how. Deliveries were up 11 percent to 2,262 vehicles driven by sales of the 812 Superfast and the Ferrari Portofino, with revenues flat at 838 million euros. Europe and Middle East sales were up by double digits to 1,005. The Americas grew by 5 percent and greater China by 7 percent. Ferrari forecast full-year sales at over 9,000 cars with profits of 1.1 billion euros.Related Video:

Watch a vintage Ferrari racing engine shoot blue flames on a dyno

It is exactly the kind of winter Tuesday that absolutely requires a three-liter Ferrari flat-12 screaming at almost 10,000 rpm. In case you have been looking for such footage, you are in luck: here is about a minute's worth of a Ferrari racing engine liberated from its chassis, revving its guts out. There are blue flames and wonderful sounds – it's perfect. The dyno numbers in the end show the 312B2 reaching 365 horsepower, and BangShift notes that it's most likely an endurance engine build, engineered to withstand use for a lot longer than the 1970s F1 races lasted. As the engine builder, Carobu Engineering says, it is "a standard rebuild on an existing engine platform with no additional modifications for power. The primary consideration was reliability and clean running. While not the most powerful vintage F1 engine, it has been very reliable and smooth." Carobu's video commentary also says that the engine was originally received with broken timing gears when they first rebuilt it years ago. The first build produced 289 horsepower at 9000 rpm, and the second rebuild made 365 horsepower at 9800 rpm thanks to improved injection system tuning and ignition optimization. Related Video: News Source: Carobu Engineering via BangShift, JalopnikImage Credit: Carobu Engineering Beijing Motor Show Ferrari Racing Vehicles Videos ferrari f1

Lawsuit alleges Ferrari diagnostic tool used to roll back odometers

A longtime Ferrari salesman is accusing a Palm Beach dealership of using Ferrari's DEIS diagnostic tester tool to reset a 2015 LaFerrari's odometer, driving the supercar's value up by over $1 million. The lawsuit alleges that in October 2015, a technician at New Country Motor Cars reset the digital odometer of the LaFerrari in exchange for cash from its then-owner. What makes the lawsuit especially interesting is that it says using the DEIS tester to perform a rollback would require logging in with Ferrari North America, and alleges the technician was on the phone with Ferrari NA during the operation. The odometer-tampering allegation came up as part of the plaintiff's wrongful-termination claim against New Country Motor Cars. The lawsuit also alleges the tester has been used for this purpose beginning in April 2010, along with a written Ferrari policy manual and instructions and factory authorization, and was performed as recently as March 2015 during official Ferrari factory technician training in Italy. Odometer tampering is a dodgy business and a federal crime, no matter whether you're turning back the reading of an old taxi or a Ferrari worth millions. The lawsuit was first reported by the British Daily Mail, and subsequently covered by Jalopnik. The lawsuit has produced a countersuit by the owner of the LaFerrari in question.Related Video: