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$64M Ferrari 250 GTO could be a fake

Remember that Ferrari 250 GTO that we reported on last week, supposedly listed on mobile.de for $64 million? Well, don't go putting down your deposit just yet, because it might be a fake.
According to noted Ferrari expert Marcel Massini, the vehicle listed on the German used-car website is a replica. "I can tell you that with 100 percent certainty," Massini told CNBC. "I know where all of these cars are today. And this is not one of the original GTOs."
Of course "replica" is a relative term when it comes to 250 GTOs. Other authentic classic Ferraris are sometimes rebodied to look like a GTO, but while they're not real GTOs, they are real Ferraris. We reported on such an "Evocazione" example (pictured above) based on a '65 Ferrari 330 GT a few years ago, around the same time that Matt Farah came across one based on a 365 GTB/4 Daytona alongside a Ford GT as well.

Harry leaves his Garage to drive Ferrari 488 in Maranello

Harry Metcalfe doesn't need to go anywhere these days. He's handed over the reins of the Evo magazine he founded and gone into retirement, enjoying some quiet time with the many drool-inducing cars in his expansive garage. In other words, it would take quite the car to get him to leave the serenity of the English countryside and fly all the way down to Italy and its industrial north. The Ferrari 488 GTB is just such a car. The Prancing Horse marque's latest mid-engined V8 supercar should require no introduction. It's the successor to the celebrated 458 Italia and a long line that stretches back through the F430, 360 Modena, F355, 348, and 328 straight through to the 308 GTB that debuted in 1975. Only unlike its naturally aspirated predecessors, the 488 has gone twin-turbo to reconnect more with the likes of the F40 and 288 GTO. That leaves the atmospheric sector of this particular territory to the Lamborghini Huracan and its unassisted V10, while cozying up closer to the McLaren 650S. But does it make it any less of a Ferrari, or a less-than-worthy successor to the 458? That's what Harry set out to find out on the roads in and around the factory's home town of Maranello. Watch the video above to find out how it stacks up in his esteemed opinion. Related Video: X News Source: Harry's Garage via YouTube Ferrari Coupe Supercars Videos ferrari 488 gtb harry metcalfe harrys garage

Ferrari, not Tesla, might be the stock to buy

Last week Tesla's earnings – or lack thereof – were one of the big stories in the auto industry. As usual, the electric carmaker didn't make money, but the news sent the market, analysts, and Tesla's devoted fans into a lather. But another company, this plucky upstart called Ferrari, also attracted a positive reaction from the market and actually had the financials to back it up. Ferrari posted net revenues of $898 million (at today's exchange rates) EBITDA of $265 million (a slightly complicated way to snapshot financial performance) and an adjusted net profit of $136 million in the first quarter. The company delivered 2,003 cars, and sales of its V12 models increased 50 percent. It quietly made progress nearly a year and a half into its life as an independent automaker. For 2017, Ferrari expects to deliver 8,400 cars and rake in net revenue of $3.6 billion. No one thought Ferrari would flounder when Fiat Chrysler Automobiles spun it off in fall 2015. With a rich history, expensive products, and its own loyal fan base that's arguably even larger than Tesla's, the company seemed poised for success, though skeptics wondered how it might fare after longtime chief Luca di Montezemolo stepped down before the spinoff. Plus, the company remains within the FCA sphere, as its key stakeholders are largely connected to its former parent in some way, and Chairman Sergio Marchionne also steers FCA. Last week's results showed Ferrari is gaining footing in the evolving automotive world, and analysts responded. UBS analyst Michael Binetti reiterated Ferrari stock (RACE on the NYSE) as buy status and raised his target price from $85 to $92. Morgan Stanley's Adam Jonas was even more bullish, raising projections to $100 in the next 12 months. Shares were trading around $82 Monday morning. Both analysts viewed Ferrari as something different than a conventional automaker stock, with Binetti comparing it to luxury house Hermes, which produces high margins even for a specialty goods maker. Jonas suggested Ferrari's singular reputation and history (16 Formula One Constructors titles, the most ever) could insulate its products when autonomous and electric cars become even more commonplace. "In our view, a Ferrari is not transportation," he wrote in a note to clients. "Ownership is viewed as an exclusive club, and membership requires more than just money.