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Ferrari stock sale pegged for October, or later

The Ferrari IPO is still coming, but it won't be before Columbus Day (Monday, October 12, that is), according to Fiat Chrysler Automobiles CEO Sergio Marchionne. The outspoken exec is blaming tax reasons for the fourth-quarter date, according to a report from Reuters. Marchionne said a full year needed to pass between FCA's October 13, 2014 Wall Street debut and any additional listing. This isn't the first delay in the Ferrari IPO. FCA was originally supposed to make a 10-percent offering of Ferrari during second or third quarter of 2015, before officially pushing things back to the third quarter of this year. Now, it's unclear if Ferrari will even go public before the dawn of 2016. Related Video: News Source: ReutersImage Credit: Marco Vasini / AP Earnings/Financials Government/Legal Chrysler Ferrari Fiat Sergio Marchionne FCA fiat chrysler automobiles

F1's Sebastian Vettel says mistakes happen but he's not making too many

SPIELBERG, Austria — Ferrari's Sebastian Vettel has hit back at suggestions he has been making too many mistakes to win this year's Formula One championship. The German, a four-time world champion like Lewis Hamilton, was penalized at last weekend's French Grand Prix for colliding with his Mercedes rival's Finnish teammate Valtteri Bottas at the start. Vettel ended up fifth after coming back through the field. That left Vettel 14 points behind Hamilton after eight races, with both title contenders on three wins each and the German having started half the races from pole position. "It's racing. There are some errors you shouldn't do, some errors that happen. It depends on the type of error," Vettel, in good spirits, told reporters ahead of Sunday's Austrian Grand Prix. "I've had a lot of races. It happens, unfortunately, at times. I try to minimize it, but I'm not worried. I don't think there is something fundamentally wrong," he added. "I think we know what we are doing — I hope I know what I'm doing most of the time, so I should be fine." The German lost places in Azerbaijan in April, when he started on pole but finished fourth, after he made a bid for the lead, locked up and ran wide following a safety car re-start. In China, a collision with Red Bull's Max Verstappen dropped him down the order, after the pre-race favorite had initially made a good start from pole. Hamilton has meanwhile gone 33 successive races in the points, and his off days have been less costly than the Ferrari driver's. "It's a long way to go, and it's normal some things happen along the way," said Vettel. "Obviously you are trying to push the limits. It didn't cross my mind when I was in Baku to just stay behind, surrender, and maybe wave another person past, just to collect some points," he added. "That's not how I define racing. I tried to go for the gap, I went for it, it was there, and I didn't make it. It didn't work. Sometimes it works out, and it's great. Sometimes it doesn't." Reporting by Alan Baldwin

Alfa Romeo considering Ferrari-developed engines for new product lineup

A report in Bloomberg adds more details to the plans for Alfa Romeo's fourth turnaround plan in Fiat CEO Sergio Marchionne's tenure, and this time Ferrari is apparently going to be part of the show. In December Automotive News Europe reported that a new Maserati-derived rear-drive architecture would be the centerpiece at Alfa Romeo, as well as coming Chrysler and Dodge products. At the time, ANE said the platform would support a new midsize sedan and wagon perhaps to be called Giulia, a fullsize sedan and a midsize crossover, with retail appearance of the product initiative commencing perhaps as soon as next year. It would be part of Fiat's $12.3-billion spend on new models and European recovery.
The Bloomberg report says that particulars haven't been finalized, but the plan is to have six new Alfas appear over the next five years, two of which would be SUVs. The futures of the Mito and Giulietta, two of the three cars Alfa currently sells and 99 percent of sales last year, aren't assured, meaning that the lineup in six years could be seven cars (including the 4C), six of which we haven't any definitive clue of yet. The top-tier versions of those cars, according to the report - perhaps the Quadrifoglio Verde - "will be equipped with motors developed by Ferrari."
Marchionne wants to get sales up to 300,000 units per year when the lineup is complete, pairing Alfa sales with Jeep's global dealer network to open up the retail channel. That kind of volume would get Fiat's Italian plants back in business properly, even though Marchionne's stance on Italy-only Alfa production would mean the end of the anticipated roadster that was to be twinned with the coming Mazda MX-5 Miata. Alfa's direction will be laid out in Detroit in May as part of the overall strategy presentation for Fiat Chrysler Automobiles NV.