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Early Ferrari F40 prototype destroyed in roadside fire

The people behind Tax the Rich have made a name for themselves by doing the sort of things with six and seven-figure supercars that Ken Block does with rally-prepped Subarus and Fords. The group's last video, released just over a year ago, features a rare prototype Ferrari F40. According to Ferrari Chat and IVG.it, another car from that collection is no more, having been reduced to a thin, black crisp. It's a terrible thing to see cars end up in such a state, especially one with such a storied history. It's unclear how the fire started, but old Italian supercars don't exactly have the best reputation for reliability. Hell, even some new Ferraris have had issues with catching fire. This particular F40 is believed to be the sixth prototype ever built by Maranello, going on display at the Frankfurt Motor Show in 1987. According to Motor 1, the car was converted to GT spec in 1991 and raced continually over its life. While some rare supercars have been brought back from the brink and fully restored, it's hard to imagine there is any way to salvage what's left. A Facebook video from Patrich Poggi shows a broken, sullen husk, parked on the side of the road and covered in fire retardant. If you didn't already know, it would be difficult to tell what sort of car you'd be looking at. At least this F40 spent its life on the road and on the track rather than sitting in the back of a garage in someone's collection. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: IVG.it via Motor 1, Ferrari ChatImage Credit: Patrich Poggi Ferrari Coupe Supercars

Fiat gives outgoing Ferrari chairman $35M severance package

Luca di Montezemolo may not have wanted to leave Ferrari this way, but don't feel too bad for the departing chairman, because he'll be hitting the ground with a golden parachute so big that he'll never have to work again.
According to the latest reports, Fiat will pay Montezemolo 26.95 million euros (nearly $35 million) in severance pay. A little more than half of that will be paid in a lump sum of 13.71 million euros ($17.7M, equivalent to five times his annual salary) on January 31, 2015, with the rest to be paid within the next 20 years.
The payment is contingent on Montezemolo not going to work for a competitor, so don't expect to see him replacing Stephan Winkelmann at Lamborghini or Wolfgang Dürheimer at Bugatti any time soon. At least not until March 2017. Of course with that much cash on hand, the 67-year-old marquis need never work again, but considering how busy he's used to keeping himself, we'd be surprised if he didn't pop up again somewhere.

Ferrari is debuting a new car Thursday

In a social media blast across its Twitter, Instagram and Facebook accounts, Ferrari released a seven-second teaser for a new car that is set to debut Feb. 28. A few subtle details hint at what it might be. Accompanying the short teaser clip were two short sentences: "Tomorrow, the Prancing Horse family welcomes a new member," it says. "Make room for new thrills." The clip flashes several up-close parts of the car including a grille, an air intake, a steering wheel with paddle shifters, a drive mode selector, a tachometer, and the top of an engine. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The engine is the most revealing part of the clip. It appears to be the V8 from the 488 Pista, which separates itself visually with carbon fiber covers, rather than the red covers seen in other Ferraris. If it is indeed that V8, it could potentially align with the report that Ferrari would be debuting a hybrid V8 supercar this year. This would just be sooner than we were expecting it. A secondary intriguing part of the video is the gear selector. The clips shows the normal modes seen on other Ferraris, including Wet, Sport, Race, CT off, and Esc off. But there's a sixth blurry white spot, which could be absolutely nothing, or it could indicate another type of driving mode. What would be important enough to add a driving mode? Maybe a hybrid? All we can do is speculate, but thankfully, only for a day more. Check back for the full reveal and full information on Feb. 28. Related Video: News Source: Ferrari Auto News Ferrari Coupe Performance Supercars supercar ferrari 488 pista