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Ferrari to keep CEO Amedeo Felisa post spin-off

Ferrari is undergoing a big shakeup, and not just on the Formula One racing grid. It's just parted ways with its longtime chairman, is being spun off from the rest of the Fiat Chrysler Automobiles group and will soon launch its initial public offering on the stock market. But one thing it's not about to change at this point is its CEO. Speaking to journalists in Milan this past Friday, FCA chairman John Elkann said, "There will be no CEO change," indicating that the job of chief executive Amedeo Felisa is secure for at least a while longer. After two decades at Alfa Romeo, Felisa joined Ferrari back in 1990, was named general manager in 2006 and chief executive in 2008. In that capacity, he's always reported to company chairman Luca di Montezemolo, whose place was recently taken by Sergio Marchionne. It remains unclear, however, just how directly involved Marchionne will remain in the Prancing Horse marque, especially after the spin-off, and what that would mean for Felisa. In launching the IPO, Ferrari could institute a loyalty scheme that would award additional stake to the company's oldest and largest shareholders – which would only further entrench the holdings of the Agnelli family which Elkann heads and which stands to become the largest stakeholder in Ferrari after its separation from the rest of the group.

Chevy ad compares Spark EV with Ferrari 458 Italia

Chevrolet's new commercial for the 2014 Spark EV emphasizes the little hatchback's performance over pretty much everything else, and it even goes as far as to compare it to a Ferrari 458 Italia. That's right, the electric bubble is pitched in the commercial as having a higher torque figure than the Ferrari - and it does, with a massive 400 pound-feet ready to be unleashed.
That doesn't translate into a quicker car, however, as the 458's V8 with 570 horsepower and not-exactly-quaint 398 lb-ft gives it a 0-60 time of 3.0 seconds compared to the Spark EV's 7.6-second run.
"We think the fun-to-drive element is an area for us to differentiate ourselves," Sam Basile, executive chief engineer for GM's global minicars and emerging-market vehicles, told Automotive News.

Ferrari 288 GTO to be auctioned by Mecum in Monterey

If you're a rather affluent person attending the Pebble Beach Concours d'Elegance this year, you may want to set aside some spending money. Mecum is offering this gorgeous Ferrari 288 GTO at its Monterey auction. For those that don't know about the 288 GTO, it is one of Ferrari's greatest supercars, frequently compared with its successor, the F40. The car was originally developed for the fast and dangerous Group B rally racing class and featured a twin-turbocharged 2.8 liter V8 making 400 horsepower. Not only that, but the steel tube-frame chassis was draped in cutting-edge carbon fiber and Kevlar body panels. This particular model has just over 11,000 kilometers on the clock. If anyone of us at our office had it, that number would be multiplied a few times over. And it would likely be a reasonably comfortable driver, since this one has the option package that added air conditioning, a stereo and power windows. The stereo might be a tad superfluous considering the likely sonorous powertrain in this machine. The car also carries certification from Ferrari's in-house certifier and restorer, Ferrari Classiche. All this could be yours provided you have the cash to back up your bids. Mecum is expecting the 288 GTO to bring between two and three million dollars. This falls in line with Hagerty Insurance's average valuation of $2,350,000. That sum is a significant jump from five years ago when Hemmings estimated a good model going for about $650,000. Related Video: