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F1's Raikkonen to race for Sauber as Leclerc brings youth to Ferrari

Kimi Raikkonen will not be going out of Formula One at the top, or even with a top team. The announcement on Tuesday that the 2007 world champion is leaving Ferrari, the sport's oldest, most glamorous and successful team, at the end of the season was only to be expected. Less so was the subsequent revelation that the 38-year-old "Iceman" had agreed a two-year deal to continue with Ferrari-powered Sauber in a swap with that team's Monegasque rookie Charles Leclerc. That will close a circle at least, the Swiss team being the ones who gave Raikkonen his debut in 2001 despite the powers-that-be fearing he was too inexperienced. And it will keep the Finn racing on into his 40s. It will also please Formula One's owners, already facing the retirement of double world champion Fernando Alonso, by keeping one of the best known and most popular drivers on the starting grid. But the days when Raikkonen could hope for poles and wins, already scarce even at Ferrari where Sebastian Vettel is the main contender and team orders have been applied, are surely over now. Sauber was last in 2017 and is ninth of 10 teams now, even if the signs are more encouraging than they were, and there is a likelihood that Raikkonen will now be simply making up the numbers. The Finn will still relish racing with less media attention and more freedom, while for Ferrari there are also clear benefits. For the first time in four years, they now have a new benchmark for four-time champion Vettel and a (very) young driver who represents the future rather than the past. Vettel has outperformed Raikkonen consistently since the pairing started in 2015 with the German's move from Red Bull, and the Finn is already 62 points adrift this season with seven races remaining. Raikkonen has been more competitive this year, taking nine podium finishes and pole at Ferrari's home Italian Grand Prix with Formula One's fastest ever lap, but there are those who question whether Vettel is being pushed hard enough. Some even wonder just how quick the German really is. Ferrari will hope that 20-year-old Leclerc, unless told to adopt a subservient role, can apply a bit more pressure and help answer those questions. The gamble is that the youngster's relative inexperience could impact, in the short-term at least, Ferrari's constructors' championship hopes as he finds his way under considerable scrutiny.

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.

Top Gear's latest trailer shows off a golden Bugatti Chiron

Top Gear is returning on March 5, and after a lackluster first series with the new hosts, the new group seems determined not to hit a sophomore slump. Chris Evans is gone, and the latest teaser trailer shows the new trio of Matt LeBlanc, Chris Harris, and Rory Reid strapped into some pretty fantastic cars, including the Bugatti Chiron and the Ford GT. All of the typical Top Gear segments appear to be present, though the quick cuts don't give us many details. The trailer shows a copious amount of powerslides from an assortment of cars, and even Chris Harris racing around Daytona. Aside from the Bugatti and Ford, cars from Porsche, Lamborghini, Ferrari, BMW, Aston Martin, and Alfa Romeo are all present. Co-hosts Eddie Jordan and Sabine Schmitz don't appear at all, so it seems their roles may be downplayed to focus on three guys, as was the case pre-reboot. We have some hope for this re-relaunched show and will be keeping an eye out for more details in the lead-up to the series premiere. Related Video: News Source: YouTube Celebrities TV/Movies Alfa Romeo BMW Bugatti Ferrari Ford Lamborghini Porsche Top Gear chris harris Bugatti Chiron matt leblanc