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One more LaFerrari will be built to benefit Italian earthquake victims

Today, Ferrari Chairman and CEO Sergio Marchionne announced that the company was planning to build one more Ferrari LaFerrari coupe in order to raise money for victims of the earthquake that struck central Italy last week, killing nearly 300 people. Production of the car officially ended in 2015, with 499 examples produced, though preparations for the LaFerrari Spider are in the works. The 500th LaFerrari will be auctioned off, though no word on when the car will go on sale. The lucky owner will take home the most powerful and expensive road-car the Italian automaker has ever produced. The LaFerrari, which sold for $1.3 million, makes 949 horsepower from its V12 hybrid system. It remains, and mostly likely will remain for quite some time, one of the quickest vehicles on the planet. Related Video: Featured Gallery 2015 Ferrari LaFerrari: First Drive View 56 Photos News Source: Ferrari Ferrari Auctions Supercars ferrari laferrari laferrari

F1's Sebastian Vettel, Lewis Hamilton face off again in Austria

SPIELBERG, Austria - Sebastian Vettel celebrated his 30th birthday on Monday, but it can be safely assumed that Lewis Hamilton will not be bringing any gifts to Austria this weekend. After the "road rage" of Azerbaijan two weeks ago, the Formula One title rivals head to the bucolic surroundings of the scenic Red Bull Ring and its backdrop of hills and forests, with controversy still simmering. Vettel, Ferrari's championship leader, had risked a heavy penalty for his moment of madness in driving into Hamilton's Mercedes behind the safety car in Baku but instead the German arrives in Austria with no further sanction and the matter officially closed. Vettel has had to accept full responsibility, and apologize to Hamilton, and will have to stay on best behavior with a race ban looming if he collects any more penalty points on his license this weekend. The FIA said Monday's meeting was attended by top officials including race director Charlie Whiting and safety director Laurent Mekies. "Following detailed discussion and further examination of video and data evidence related to the incident, Sebastian Vettel admitted full responsibility," the FIA said. "In the heat of the action I then overreacted, and therefore I want to apologize to Lewis directly, as well as to all the people who were watching the race. I realize that I was not setting a good example." A formal apology was published on Vettel's personal website. "During the re-start lap, I got surprised by Lewis and ran into the back of his car. With hindsight, I don't believe he had any bad intentions," he said. "In the heat of the action I then overreacted, and therefore I want to apologize to Lewis directly, as well as to all the people who were watching the race. I realize that I was not setting a good example. "I love this sport and I am determined to represent it in a way that can be an example for future generations." But the incident, the sport's major talking point post-Baku, is unlikely to die down immediately even if Mercedes say they have moved on. Hamilton, for one, has said nothing. But he has kept social media buzzing with news he had "liked" a fan's supportive post on Instagram that said the Paris decision had sent the message that "you can do whatever you want on track, smash into each other but if you suck up and just apologize and you get away with it." Hamilton is now 14 points behind Vettel after eight of 20 races, with a loose headrest costing the Briton victory in Azerbaijan.

Ferrari family won't sell stake in company

Ferrari may be splitting off from the Fiat Chrysler Automobiles group and launching its IPO independently, but those stocks it's going to float are coming out of Fiat's hands. The small portion still held by the Ferrari family looks destined to stay in their control for the time being. According to the latest report from Reuters, Enzo's son Piero says he has no intention of selling any of the 10 percent interest he and his family hold in the company founded by his late father. "I have never sold and I have no intention of doing so," said Piero, as quoted in the report. Piero Ferrari is the illegitimate son of Enzo Ferrari and his mistress Lina Lardi. His half-brother Dino died in his twenties from complications associated with muscular dystrophy, and in accordance with Italian custom, Piero was only acknowledged as Enzo's heir after the death of the father in 1988. Representing the family's holdings, Piero still acts as vice-chairman of the company but devotes his day-to-day to running aerospace manufacturer Piaggio Aero. News Source: ReutersImage Credit: Marco Vasini/AP Earnings/Financials Ferrari stock piero ferrari