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Fiat Chrysler denies rumors that Ferrari SpA is moving to London

It seems that reports of Ferrari's relocation to London have been somewhat exaggerated. The past few days have seen more than a few stories on the legendary Italian brand's decision to move its tax base out of Italy, and now Fiat Chrysler is speaking out against the scuttlebutt. "These rumors have no grounds," FCA said in a statement obtained by Reuters. "There is no intention to move the tax residence of Ferrari SpA outside Italy, nor is there any project to delocalize its Italian operations, which will continue to be subject to Italian tax jurisdiction." Ferrari's move to London was based on two beliefs. First, that the company would benefit from being located nearer the investor community, should it be listed on a European exchange. FCA, though, said a European listing was only a "possibility," according to Reuters. Instead, the company will be listed on an American market. Aside from the move to benefit investors, it was believed Ferrari was looking to relocate to escape Italy's more oppressive corporate tax rate, which sits around at 31.4 percent, compared to the UK's 20 percent, Bloomberg reports. This denial by Fiat Chrysler, though, should be enough to close the book on Ferrari leaving Italy, no matter how much sense it might make. Related Video:

$3M Ferrari FXX K already sold out [w/videos]

When Ferrari took the wraps off its new FXX K track machine in Abu Dhabi last week, it conspicuously left out some key details. Sure, the Prancing Horse marque told us how much power it produced, and what it had done to the aero package to make it hug the track even closer than the road-going LaFerrari on which it's based – but it didn't tell us just how fast it will go, or how much it will cost. The latest reports, however, seek to fill in those blanks. According to Ferrari marketing chief Nicola Boari in speaking to Top Gear, the FXX K will lap the company's Fiorano test track in 1 minute 14 seconds. That would make it five seconds faster than the LaFerrari, a solid second ahead of the 599XX Evoluzione and two seconds faster than the original FXX. However it seems to fall short of the eight- to nine-second gap those previous XX derivatives opened up over the road-going models on which they in turn were based. So it seems, for the time being at least, that the 1:11.9 lap time recorded by the 333 SP – an open-cockpit sports prototype from the late 1990s – will remain for now the fastest car this side of an F1 racer ever to lap the circuit. The outright record stands at under 56 seconds and belongs to Michael Schumacher in the ten-cylinder F2004 he drove to his seventh and final world championship. As for the FXX K's production, Top Gear reports that Ferrari will build fewer than 40 of them, and that they've all been spoken for – at a price of ˆ2.5 million (more than $3M) apiece. If you're not one of those forty fortunate souls to have put down their deposit, your best chance to see this rare beast in its natural habitat (at least until one of the XX track days hits a race track near you) are the live images above and the handful of videos below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Ferrari fined 50,000 euros after Kimi Raikkonen runs over mechanic

MANAMA, Bahrain — Ferrari was fined 50,000 euros ($61,385) on Sunday after one of its Formula One mechanics was hit by Kimi Raikkonen's car and suffered a broken leg during a Bahrain Grand Prix pitstop. Raikkonen, who had been in third place, was told to stop immediately and retired in the pitlane while teammate Sebastian Vettel went on to win. At an IndyCar race in Phoenix over the weekend, meanwhile, Alexander Rossi and Sebastien Bourdais both also were penalized when they made contact with their mechanics. Ferrari said the mechanic on the left rear wheel, named only as Francesco, had been taken to hospital with a suspected shin bone and fibula fracture. He was knocked over as the Finn was wrongly given the signal to leave with only three tires replaced and the other still to be removed. "I go when the light is green. I don't see what happens behind and unfortunately he got hurt," said Raikkonen, the 2007 world champion. "My job is to go when the light says so. Hopefully, he's OK." The Finn was left sitting in his car for a while before stepping out while the mechanics focused on their stricken team mate on the floor. Ferrari chairman Sergio Marchionne wished the mechanic a speedy recovery in his post-race statement. "I am sorry for Kimi who could certainly have finished on the podium," he added. It was the second time Ferrari had been penalized for an unsafe release over the Bahrain Grand Prix weekend. It was fined 5,000 euros after Raikkonen was sent out of the pits with a loose wheel in Friday practice. Race stewards said that in Sunday's incident the car was released "in a manner endangering team personnel and causing injury." Reporting by Alan BaldwinRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: Getty Motorsports Ferrari Racing Vehicles F1 Kimi Raikkonen sebastien bourdais