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Ferrari looking to become even more exclusive

While most automakers are clawing and scratching for every possible sale, it sounds like Ferrari is content in losing a few potential customers in the name of better exclusivity and higher profits. Autocar reports that Ferrari chairman Luca di Montezemolo recently stated that the Italian automaker hopes to sell fewer than 7,000 units globally in 2013 compared to last year's tally of 7,318.
As a part of this plan, Ferrari will be slowing its production lines and trying to create a balanced market for its cars in the US, the Middle East, Europe and China - the latter two being the automaker's biggest markets. Montezemolo also said that Ferrari would not be expanding its model lineup with SUVs, sedans or small cars.

Heads continue to roll at Scuderia Ferrari

It's a year of restructuring at Ferrari – especially when it comes to the Formula One department. Dissatisfied with the team's performance of late, parent company Fiat fired Ferrari's chairman, replaced its team principal twice and brought in another multiple world champion to replace the one it already had. But that's not the end of it. Under the direction of new chairman Sergio Marchionne and team principal Maurizio Arrivabene, the Maranello-based outfit is undergoing a purge in its ranks. Ferrari has fired its veteran engineering director Pat Fry (pictured above at left), its chief designer Nicolas Tombazis (center) and its tire guru Hirohide Hamashima (whom the team picked up shortly after Bridgestone left the sport, not pictured). In their places, Ferrari has named appropriate replacements, and has shuffled some additional staff around. F1 journalist Alberto Antonini, for example, has taken over the press office from Renato Bisignani who will now run the Scuderia's new commercial department. More vital, however, is James Allison, a longtime F1 engineer who previously worked for Ferrari for five years and returned from Lotus last year to take up position as the team's new technical director – too late to influence last season's chassis but now charged with developing next year's. Whether the radical reshuffling of its staff will be enough to reverse the team's fortunes, nobody can say for certain at this point. But without a single grand prix victory this past season, things can hardly get any worse for what historically has been the most victorious team in all of motorsport. The Scuderia Ferrari has been reorganized Maranello, 16 December – Within a few days from his arrival Maurizio Arrivabene, Managing Director of Ferrari's Gestione Sportiva and Team Principal of Scuderia Ferrari, has restructured his team with a flatter structure and clear assignment of responsibilities. James Allison is the Technical Director with two Italian engineers and home grown Scuderia talent reporting to him: Chief Designer Simone Resta and Power Unit Director Mattia Binotto, the latter will be supported by Chief Designer Power Unit Lorenzo Sassi, among others. Furthermore James Allison will direct track engineering activities ad interim.

Macron and Le Pen decry 'shocking' Stellantis CEO pay

PARIS — French President Emmanuel Macron and his far-right challenger in the French presidential vote, Marine Le Pen, on Friday both decried as “shocking” the multimillion euro payout to the CEO of carmaker Stellantis. Stellantis CEO Carlos TavaresÂ’ remuneration package of 19.15 million euros just a year after the company was formed became an issue as Macron and Le Pen campaigned ahead of the April 24 runoff vote. Polls show purchasing power and inflation are a top voter concern. Stellantis was formed last year through the merger of PSA Peugeot and Fiat Chrysler Automobiles. Centrist President Emmanuel Macron, perceived by many voters as being too pro-business, called the pay package “astronomical” and pushed for a Europe-wide effort to set ceilings on “abusive” executive pay. “ItÂ’s shocking, itÂ’s excessive,” he said Friday on broadcaster France-Info. “People canÂ’t have problems with purchasing power, difficulties, the anguish theyÂ’re living with, and see these sums. Otherwise, society will explode.” Far-right leader Marine Le Pen, who enjoys support from many working-class voters, called for bringing in more workers as shareholders. “Of course itÂ’s shocking, and itÂ’s even more shocking when it is the CEOs who have pushed their society into difficulty,” she said Friday on BFM television. “One of the ways to diminish this pay, which is often out of proportion with economic life, is perhaps to allow workers in as shareholders.” Stellantis continued to back the package despite a 52.1% to 47.9% vote rejecting it at an annual shareholders' meeting chaired from the Netherlands, where the company is legally based, on Wednesday. The company, citing Dutch civil code, noted that the vote is advisory and not binding. The company later said in a statement that it took note of the vote, and will explain in an upcoming 2022 remuneration report “how this vote has been taken into account.” In the 2021 report, the company identified peer group companies that it used as a salary benchmark, including U.S. companies like Boeing, Exxon Mobile, General Electric as well as carmakers Ford and General Motors. Stellantis, whose brands include Peugeot, Fiat, Jeep, Opel and Maserati, reported net profits last year had tripled to 13.4 billion euros ($15.2 billion). The French government is the third-largest shareholder in Stellantis, with a 6.15% stake through the Bpifrance Participations S.A. French public investment bank.