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Ferrari posts record profits on restricted volume

Most automakers are after one thing and one thing only: selling more cars. Because, after all, selling more cars means making more money. Right? Well that's usually the case, but Ferrari has taken a different approach. Rather than try and sell more cars, Ferrari intentionally sold fewer models in 2013, yet it made more money.
The move was implemented after 2012 emerged as the strongest year in the company's history. Instead of pushing to sell even more cars, it opted to maintain a level of exclusivity by selling fewer - 5.4 percent fewer than the year before, to be specific - thereby ensuring that those it did sell were worth more. As a result, in 2013, Ferrari logged record turnover, profits and finances: on 2.3-billion euros of revenue (up 5 percent from the previous year), Ferrari recorded 363.5 million euros in profit last year - that's roughly $500M USD.
Before you go jumping to conclusions, though, bear a few factors in mind. For one, Ferrari's stakeholders aren't pocketing all that cash - they're reinvesting it into the company: over the course of the same year, Ferrari invested some 337 million euros - 464 million dollars - in research and development. And while the company's extensive merchandizing efforts continue to bring in more cash, at 54 million euros ($74M) raised last year, the branding operation still doesn't account for a sixth of overall revenues. Still, it's little wonder that the experts at Brand Finance have named Ferrari the world's most powerful brand for the second year running.

Record-setting 1953 Timossi-Ferrari V12 hydroplane is as rare as it gets

Luigino "Gigi" Barp, the head of technical service at Ferrari Classiche, the company's restoration and certification division, says it is impossible to put a value on the 1953 Timossi-Ferrari Arno XI hydroplane racing boat. It's a one-of-a-kind piece with a one-of-a-kind engine that was specially designed to beat and set the world speed record on water. With Achille Castoldi behind the wheel, it achieved that goal back in 1953. In 2019, after a restoration and some time at the Ferrari Museum, it's for sale on DuPont Registry.  Although numerous Ferrari automobiles have set many records and earned countless first-place finishes on land, there is only one world-record-holding Ferrari-powered boat. The details and timelines of how it all came together are a bit murky, depending on the source, but it all centers around Castoldi, a world-class boat racer from Italy. According to RM Sotheby's, Castoldi had success with Alfa Romeo in lower-weight-class racing in the '40s before deciding he wanted to set the water speed record in the 800-kilogram class. Castoldi was reportedly friends with people at Ferrari, and he was fortunate enough to secure a Tipo 375 V12 engine for a three-point hydroplane built at Cantieri Timossi boatyard in Italy. That's the same engine Ferrari was using for its F1 Grand Prix cars of the time. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. After realizing the engine was still not powerful enough in its original form, Castoldi reportedly worked with Scuderia Ferrari’s chief race engineer Stefano Meazza to up the power. The engine, which started at roughly 385 horsepower, reportedly gained two superchargers and twin four-choke carburetors and boasted more than 500 horsepower in methanol-fueled race tune. It also received a dual-magneto ignition system, and each cylinder used two spark plugs. Castoldi called the boat Arno XI, and on October 15, 1953, he set the water speed record for the 800-kg class by averaging 150.19 mph during a two-way run. Some years passed, and racer Nando Dell'Orto later took ownership. He reportedly made some aerodynamic tweaks, including the shark nose intake and the rear shark fin before eventually retiring the boat from serious racing. In 2012, the Arno XI emerged from the shadows as lot No. 371 at an RM Sotheby's auction, where it sold for ˆ868,000, or roughly $966,000.

2016 Japanese Grand Prix | Hamilton faces the beginning of the end

We're told the Japanese mamushi viper haunts the undergrowth around Suzuka. If the pit viper attended the weekend's Japanese Grand Prix, it avoided human visitors but it put a nasty bite on Lewis Hamilton's championship hopes. The Briton, lined up second on the grid next to Mercedes-AMG Petronas teammate Nico Rosberg, flubbed his start. By the end of Turn 1 Hamilton was in eighth. Hamilton didn't suffer alone. The beginning of the race was a melee; many of the leaders got caught out either by the damp track or by having to swerve around slow starters. Only Mercedes' Nico Rosberg and Red Bull's Max Verstappen took off clean. The German rolled up another lights-to-flag victory despite the pass-happy race happening behind him. Rosberg was as unbothered by the Dutchman in second place as he was by the official Formula 1 camera feed. Verstappen didn't have much work to do until the final ten laps of the race. Thanks to the Mercedes team's strategy – or Ferrari waiting too long to pit – Hamilton got up to third on Lap 36 of 53. Unable to make a DRS-enabled pass on Verstappen down the front straight toward the end of the race, the Mercedes driver took a creative line through Spoon corner. Closing in down the back straight, Hamilton jinked inside to try a pass through the final chicane. Verstappen moved over in the braking zone while Hamilton was still behind him, closing the door on the move. Hamilton protested over his team radio, but seemed resigned to a third place finish after the incident – he didn't try any more passes in the final laps. The Ferrari duo of Sebastian Vettel and Kimi Raikkonen crossed the line fourth and fifth, respectively, in recovery drives after penalties. The scuderia tried an aggressive final stint after Hamilton successfully undercut Vettel in the pits. Ferrari put Vettel on the soft-compound Pirellis so he could hunt the Mercedes, but after a few laps of close pursuit the tires gave up and Vettel fell back. Daniel Ricciardo couldn't get comfortable in his Red Bull the entire weekend. The Aussie finished where he started, in sixth place. Sergio Perez and Nico Hulkenberg followed the Red Bull home in two-up formation for Force India, Williams doing the same in the final two points-paying positions with Felipe Massa and Valtteri Bottas. Rosberg's 23rd career victory – his ninth of the season and first ever in Japan – puts him 33 points ahead of Hamilton in the Driver's Championship with four races left.