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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

2017 Ferrari Model Year Preview and Updates

Despite the stereotypes surrounding Ferrari and its owners, at least a few of these automotive thoroughbreds are still bought for driving. And in 2017 the driving has never been better. A V8-equipped GTC4Lusso T is a welcome addition, while the entry-level California T remains relatively accessible. FERRARI 488 GTB/GTS: Some forty years after introducing the now-iconic 308 GTB, Ferrari continues the 'Berlinetta' format with power supplied by a 3.9-liter twin-turbo V8. The GTS (Spider) shares the same drivetrain and architecture, but offers a power retractable hardtop that folds in 14 seconds. Both are unchanged for the 2017 model year. CALIFORNIA T: Ferrari's most accessible GT now offers a Handling Speciale package, which makes the California's handling more 'special', with stiffer springs and magnetic dampers reprogrammed for a more athletic dynamic. This mod also ups the decibels by three. It, too, is powered by a 3.9-liter V8, albeit in a lower state of tune than the 488. F12 BERLINETTA: You may have missed the F12tdf, as fewer than 800 examples were produced. The Tour de France commemorative offered an upgraded V12 in combination with a faster acting twin-clutch gearbox. The V12 remains naturally aspirated, and delivers – in either standard or tdf versions – over 700 horsepower. GTC4LUSSO: The family-friendly Ferrari boasts generous 2+2 seating. For 2017 there's a massaged V12 and new touchscreen. With all-wheel drive this is the all-season, all-climate Ferrari. GTC4LUSSO T: Take the GTC4LUSSO, pull out the V12/AWD drivetrain and substitute the same V8 as the California T, in combination with rear-wheel drive. The combo is lighter, tighter, less expensive, and brand new for 2017.

Kimi Raikkonen fastest in first Belgian Grand Prix practice

SPA-FRANCORCHAMPS, Belgium — Ferrari's Kimi Raikkonen lapped fastest in first practice for the Belgian Grand Prix on Friday but Mercedes, and title contender Lewis Hamilton, still looked every bit the team to beat. A four-time winner at Spa, and with a contract extension for 2018 announced earlier in the week, Raikkonen lapped the longest track on the calendar with a best time of 1 minute 45.502 seconds. The 37-year-old Finn's time was set on the quickest ultra-soft tires, however, while Hamilton — preparing for his 200th race start — was second-fastest and only 0.053 slower on the soft compound. Hamilton was 0.092 faster than Ferrari's world championship leader Sebastian Vettel, with the German third on the timesheets and also setting his time on the quickest but least durable tire. Vettel leads Hamilton by 14 points with nine races remaining. Red Bull's Dutch teenager Max Verstappen, Belgian-born and attracting a huge traveling support of orange-capped fans, was fourth fastest with Australian team mate Daniel Ricciardo fifth. Hamilton's teammate Valtteri Bottas, who bumped into the tire barrier after going off across the gravel and damaged his front wing, was sixth fastest. The session was halted after 15 minutes when Brazilian Felipe Massa, who missed the previous race in Hungary after feeling dizzy in practice, crashed heavily into the tire barrier at turn seven out of Les Combes. He was taken to the medical center for checks, before returning to the pitlane, with his team facing a long job rebuilding the car. The session resumed after a 10 minute stoppage. Williams said the chassis would have to be changed and the team still hoped to get the car back out on track for some of the day's second session, even if that looked like being optimistic. Fernando Alonso suffered a lack of power in his McLaren, but still ended up 13th fastest. Belgian team mate Stoffel Vandoorne, who will start his home race last on Sunday thanks to a 35 place penalty due to a power unit change, was 10th. Reporting by Alan BaldwinRelated Video: Image Credit: Reuters Motorsports Ferrari McLaren Mercedes-Benz F1 Lewis Hamilton Sebastian Vettel Kimi Raikkonen Max Verstappen Valtteri Bottas belgian grand prix