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Ferrari will expand its lineup of GT cars but won't chase volume

PEBBLE BEACH, Calif. — Italian premium sports car maker Ferrari will expand sales of easier-driving grand touring cars, but will not try to chase rival Porsche's annual sales volume, Ferrari Chairman John Elkann told an audience of classic car enthusiasts gathered at this storied golf resort on the Pacific coast. Elkann also reiterated that Fiat Chrysler Automobiles, of which he is chairman, remains open to opportunities to combine with other automakers, but is positioned to remain independent. Fiat Chrysler in May proposed a merger with French automaker Renault, but the deal fell apart after the French government intervened and Elkann withdrew the proposed merger. Fiat Chrysler Chief Executive Mike Manley sent the same message to Renault and other would-be partners earlier this month. Elkann visited Pebble Beach during the annual Concours d'Elegance, during which wealthy collectors bring some of the world's rarest vintage automobiles to be admired — and sold — and premium manufacturers showcase exotic new models. Ferrari is best known for flashy, high-performance sports cars. Among fans of vintage Ferraris, more understated GT, or grand touring, cars from the 1960s, some with seating for four people, are among the most popular models on auction blocks and at enthusiast events. GT cars were designed to be comfortable on longer road trips. Elkann hinted Ferrari will unveil a new GT type car in November. Ferrari has said previously that about 40% of its total sales could come from GT cars by 2022, up from 32% now. Ferrari has outlined plans to expand revenue to 5 billion euros ($5.54 billion) by 2022 from 3.4 billion euros in 2017. The company has said it plans to add a model called the Purosangue to compete with a growing stable of sport utility vehicles wearing premium sports car brands, such as the Lamborghini Urus. Rival Porsche AG, a unit of Volkswagen AG, has expanded its sales to more than 250,000 sports cars and sport utility vehicles annually. Elkann said Ferrari is not aiming for Porsche's level of sales. Ferrari Convertible Coupe Crossover SUV Luxury Performance

Lewis Hamilton needs to step up in his 200th F1 race

LONDON — Lewis Hamilton will start the 200th grand prix of his Formula One career in Belgium this weekend, but the triple world champion has smaller but more significant numbers on his mind. Refreshed from an August break in the Caribbean, including a trip to Cuba in his role as UNICEF ambassador, the Mercedes driver is 14 points behind championship leader Sebastian Vettel as he revs up for the second half of the season. A fifth victory of 2017 for the Briton would put the pressure back on Ferrari's Vettel, and Hamilton can celebrate another milestone by bagging pole position on Saturday at the long and fast Spa-Francorchamps circuit. That would see Hamilton, who sportingly relinquished third place to team mate Valtteri Bottas in Hungary before the summer shutdown, match the record of 68 poles set by Michael Schumacher with Ferrari in 2006. Mercedes has won the last two Belgian Grands Prix, with now-retired 2016 world champion Nico Rosberg triumphant from pole last year after Hamilton won in 2015. Nobody will be taking anything for granted, however, after Ferrari's one-two win in Budapest at the end of July. "On paper, people will assume that Spa should suit our car because it is a circuit where aerodynamic efficiency is extremely important," Mercedes team boss Toto Wolff said. "But assumptions are dangerous — we have seen too many times already this season that the form book can be rewritten from one weekend to the next. So we will be making no assumptions." Hamilton has won twice before at Spa, as has Vettel, but the track — a classic blast from the past — has not been particularly kind to him. In 2008, when he won his first title, the Briton was demoted from first to third after the race for cutting a chicane, with then Ferrari rival Felipe Massa savoring victory instead. Spa can often be a lottery, with its capricious weather, and rain could be a boon for Red Bull's Belgian-born Dutch teenager Max Verstappen, who can count on plenty of local support in what amounts to a home race. "I just love the track and it'll be nice seeing so many orange (Dutch) fans in the grandstands," he said. "Spa is my favorite track of the year. You have to get everything right but when you get a good lap it's very rewarding." Belgium could also be good for Ferrari's Kimi Raikkonen, who arrives with a new contract for 2018 in his pocket.

Ferrari rated world's most powerful brand ahead of Apple

Ferrari has nabbed the honor of becoming the world's most powerful brand from Apple. According to Brand Finance, the Italian automaker earned the highest rating among all brands on the Global 500 list despite being worth considerably less than its competition. But the ranking takes into account more than just a company's bottom line. Brand Finance also looks at margins, average revenue per customer and less tangible notions like brand affection and loyalty.
There's no disputing those latter two categories, and this year saw Ferrari enjoy the best financial results in the automaker's history. In 2012, the company's revenue jumped by eight percent to 2.43 billion euro thanks in part to a 4.5 percent increase in deliveries worldwide.
Meanwhile, Apple squeaked out ahead of Samsung to earn the top spot as the most valuable brand at $400 billion. You can check out the Brand Finance press release below for more information.