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Ferrari recalling 814 models from 2015 for airbag problem

Recalls from small-volume, high-end automakers like Ferrari are fairly rare, but the Prancing Horse issued a safety campaign to repair 814 vehicles in the United States due to a potential problem with the driver's side airbag module. The issue covers the 2015 editions of the 458 Italia, 458 Spider, 458 Speciale, 458 Speciale A, California T, FF, F12 Berlinetta, and LaFerrari. The affected examples have build dates from Dec. 19, 2014, to April 29, 2015, but this isn't every MY2015 vehicle in the country. According to the announcement by the National Highway Safety Administration (here as a PDF), these Italian supercars might have a "relevant combination of insufficient gluing of the leather on the driver's side airbag cover and the possible rotated installation of the driver's airbag cushion in the airbag module." In the event of a deployment, the safety devices might come out turned from where they are supposed to be. This issue could cause an increased risk of injury in a collision. In the NHTSA documents, Ferrari reports that it believes the chances of these rotated deployments are low. For drivers' safety, dealers will still replace the affected airbag module with a new one. Owners will start having their supercars fixed around July 30. RECALL Subject : Improperly Assembled Drivers Air Bag Report Receipt Date: JUL 07, 2015 NHTSA Campaign Number: 15V433000 Component(s): AIR BAGS Potential Number of Units Affected: 814 All Products Associated with this Recall Vehicle Make Model Model Year(s) FERRARI 458 2015 FERRARI CALIFORNIA T 2015 FERRARI F12 BERLINETTA 2015 FERRARI FF 2015 FERRARI LAFERRARI 2015 Details Manufacturer: Ferrari North America, Inc. SUMMARY: Ferrari North America, Inc. (FNA) is recalling certain model year 2015 Ferrari 458 Italia, 458 Spider, 458 Speciale, 458 Speciale A, California T, FF, F12 Berlinetta, and LaFerrari vehicles manufactured December 19, 2014, to April 29, 2015. The affected vehicles may be equipped with a driver side air bag module that was improperly assembled. This can cause the air bag to deploy in a rotated orientation. CONSEQUENCE: In the event of a crash, the deployment of the driver's air bag in a rotated orientation increases the risk of injury. REMEDY: FNA will notify owners, and dealers will replace the front Driver's Side Air Bag Module, free of charge. The recall is expected to begin on July 30, 2015. Owners may contact Ferrari customer service at 1-866-551-2828. Ferrari's number for this recall is 57.

Ferrari's Charles Leclerc takes third straight pole at Singapore GP

SINGAPORE — Ferrari driver Charles Leclerc claimed a third straight Formula One pole position on Saturday after outpacing championship leader Lewis Hamilton in qualifying for the Singapore Grand Prix. Leclerc clocked a lap of 1 minute, 36.217 seconds at the 5-kilometer (3.1-mile) Marina Bay street circuit, beating Hamilton by 0.191 seconds. Leclerc's teammate Sebastian Vettel was third. "If you look at the lap, it was a good lap, but there were some moments that I lost control," Leclerc said. "We brought some new bits that worked properly, which was good to see. I had a very tough Friday and didn't feel comfortable in the car, but we worked hard and it paid off." Leclerc has won the previous two races. After his first-ever F1 victory in Spa at the Belgian GP, the 21-year-old Leclerc became the first Ferrari driver to win the Italian GP since Fernando Alonso in 2010. Hamilton holds a 63-point lead over Mercedes teammate Valtteri Bottas with seven races remaining. "I don't know where Ferrari picked up their pace, it's not usually one of their circuits," Hamilton said. "But they did a great job, Charles did some great laps. Hopefully we can be in the mix with them tomorrow. I think we can be aggressive." While Hamilton already has eight wins this season, his last came at the Hungarian GP in early August. Pole position in Singapore is crucial as its one of the hardest tracks for overtaking in F1. The driver leading the field has won eight times in the past 11 years. Hamilton has won in Singapore the past two years. Another victory in Sunday's night race would move the Briton a step closer to his third straight championship and sixth overall, one shy of Michael Schumacher's record of seven titles. Vettel, whose contract ends in 2020, is on a 13-month winless streak. His last victory was at the 2018 Belgian Grand Prix. Vettel and Hamilton are the only two drivers on the grid with victories at Singapore — with four wins each. Red Bull's Max Verstappen was fourth, almost four-tenths behind Vettel. Bottas was fifth for Mercedes ahead of Red Bull's Alex Albon. Carlos Sainz Jr. took seventh place for McLaren in front of the Renault of Daniel Ricciardo. Nico Hulkenberg was ninth in the second Renault with McLaren's Lando Norris rounding out the top 10. Motorsports Ferrari Lewis Hamilton Sebastian Vettel singapore grand prix charles leclerc

Fiat Chrysler begins Magneti Marelli spinoff

MILAN — Fiat Chrysler has kicked off its planned spinoff of parts maker Magneti Marelli, which will be registered in the Netherlands and listed on the Milan stock exchange, a document outlining initial plans and seen by Reuters showed. The spinoff is part of a plan by FCA Chief Executive Sergio Marchionne to "purify" the Italian-American carmaker's portfolio and to unlock value at Magneti Marelli similar to his earlier spinoff of Ferrari. Analysts say Magneti Marelli could be worth between 3.6 billion and 5 billion euros ($4.2 billion to $5.8 billion). It sits within FCA's components unit alongside robotics specialist Comau and castings firm Teksid. FCA has created a separate entity called MM Srl, the document showed, into which it will fold Magneti Marelli's electronics and electro-mechanical operations related to racing motorbikes and racing cars, as well as 14 other holdings in various companies around the world, including Germany, Slovakia, Mexico and South Africa. MM will be incorporated into a Dutch holding company via a cross-border merger, it added. FCA declined to comment. The move follows a similar procedure adopted by FCA for the spinoff and listing of Ferrari as well as of trucks and tractor maker CNH Industrial, both registered in the Netherlands and listed in Milan. The Dutch holding company would allow Marchionne, known for his success in extracting shareholder value through this strategy, to introduce a loyalty share scheme to reward long-term investors through multiple voting rights, as was the case with CNH and Ferrari. That would tighten the grip of FCA's controlling shareholder Exor, the Agnelli family's investment holding company, on the parts maker. Magneti Marelli, which employs around 43,000 people and operates in 19 countries, is a diversified components supplier specialized in lighting, powertrain and electronics. The Magneti Marelli separation is expected to be completed by the end of this year or early 2019, FCA has said. FCA's advisers initially looked at a possible initial public offering for the business to raise cash to cut FCA's debt, but the Agnelli family — FCA's main shareholder — was put off by low industry valuations and did not want its stake in Magneti Marelli to be diluted, three sources close to the matter told Reuters in March. Magneti Marelli has often been touted as a takeover target, and FCA has fielded interest from various rivals and private equity firms over the years.