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Ex-Ferrari chairman sounds off on IPO

Former Ferrari chairman Luca di Montezemolo preferred to put exclusivity over profits when he ran the company, and the lower volume still meant huge amounts of cash for the business. FCA CEO Sergio Marchionne has since taken over Ferrari, but that hasn't stopped di Montezemolo from voicing his opinions. "I hope that the clients will remain more important than the analyst or the investor or the financial markets," di Montezemolo said prior to his induction into the Automotive Hall of Fame in Detroit, the Detroit Free Press reported. The former chairman argued that once on the stock exchange, a company would need to maximize profits quarter after quarter to keep investors happy. Conversely, di Montezemolo said Ferrari's years of success came from an "exclusivity in terms of number of cars, exclusivity in terms of how you deal with the clients." When di Montezemolo left Ferrari last year, he and Marchionne were scuffling about the future of the brand, including the health of the Formula 1 program. With the change in leadership, the company has reversed course in some ways. Where volume was previously kept around 7,000 units annually, the carmaker has set a new goal of closer to 10,000. The paperwork was filed for the IPO, and Marchionne thinks the company could be worth over $11 billion. The actual shares are rumored to go on sale in October. Related Video:

Seeing Red: 70 Years of Ferrari at the Petersen Museum

When the Petersen Automotive Museum completed its extensive 14-month renovation and reopened its doors in December of 2015, automotive enthusiasts were treated to a refreshed 95,000 square feet of exhibit space boasting 25 separate galleries. At the time of opening our favorite of those was the Precious Metal exhibit in the Bruce Meyer Family Gallery, featuring some of the world's most desirable cars all painted in silver. While we're sad the Precious Metal exhibit is no more, the gallery is now filled with something perhaps even better - an exhibit celebrating the 70th anniversary of Ferrari called "Seeing Red". The theme of a single color has been maintained (red, of course), and the gallery features eleven of the most significant road and race cars built by the Prancing Horse in the last seven decades. Leading the herd is a stunning 1963 Ferrari 250 GTO, one of just 39 built and widely considered to be one of if not the most desirable collector car in the world. The last one that sold at auction brought a record $38 million. Following up the 250 GTO is an achingly gorgeous 1958 250 Testa Rossa and then a 1965 250 LM that won Le Mans outright in 1965. A Mille Miglia winner, a 1949 166 MM Barchetta, is also on display. Perhaps the most historically significant car in the collection, however, is a 1947 Ferrari 125 S. Although this particular vehicle's history is difficult to trace, with many early race cars being wrecked, cut up, or combined with other cars, many believe this example, chassis 010I, to be the very first car to carry the Ferrari badge. Not surprisingly, the 125 S was a successful race car, winning six of the thirteen races in which it competed. The rest of the gallery is a celebration of belle macchine, which includes a 1955 Ferrari 857 Sport, a 1958 Ferrari 250 GT California Spyder SWB, Michael Schumacher's 2006 Ferrari 248 F1, a 1976 Ferrari 312 T2 driven by Niki Lauda to victory at the Monaco Grand Prix, and a 2014 Ferrari LaFerrari. "We're so thrilled to bring some of the world's most beautiful Ferraris to the Petersen," said Bruce Meyer, founding chairman of the Petersen's Board of Directors. "Seeing that Rosso Corsa paint and the beautiful curves of the body work is always enough to make your heart skip a beat.

Ferrari considering return to Le Mans racing in 2015

Rumors are swirling that Ferrari may be contemplating a return to Le Mans racing as soon as 2015. Germany's Auto Motor und Sport reports the Italian automaker may apply the development of a new 1.6-liter turbocharged V6 engine for Formula One to an LMP1 car for Le Mans, and have it ready for the 24 Hours of Le Mans in two years. This follows hints made by Scuderia Ferrari CEO Stefano Domenicali last month that the newly developed F1 engine could be used for "some interesting projects."
Ferrari has a history of success in Le Mans racing, though it hasn't won the big endurance outright since 1965. The image above captures the exact moment when the No. 21 car of Masten Gregory and Jochen Rindt crossed the finish line that year to win the race. That win was the last of six consecutive outright victories before the infamous arrival of the Ford GT40 in 1966. Despite never reaching the top of the podium again, Ferrari's nine wins still stand as the third most overall by a manufacturer behind Porsche (16) and Audi (11).
If Ferrari does return to Le Mans in 2015, the LMP1 class will suddenly be teaming with worthy competitors for Audi, which has dominated the race since 2000. After Peugeot's exit from the sport in early 2012, Toyota entered the race in 2012 and has continued to develop its TS030 Hybrid LMP1 car. Porsche, meanwhile, is well into developing a new LMP1 car that will first compete in next year's race.