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Ferrari investors want assurance on goals, SUVs on eve of vehicle reveal

MILAN — Ferrari's new boss has his work cut out on Tuesday to convince investors that the supercar maker can hit mid-term targets he described last month as "aspirational." The company's share price slid more than 8 percent on Aug. 1 after Louis Camilleri said he saw "risks" ahead, with investors worrying he may have sought to lower expectations on the targets set by his predecessor, Sergio Marchionne. Former tobacco exec Camilleri was appointed Ferrari CEO in July, succeeding Marchionne, who died from complications following surgery. The sudden change jolted investors who had expected Marchionne to remain as CEO and chairman until 2021, having more than doubled Ferrari's value since taking it public in 2015 and pledged to double core earnings (EBITDA) to 2 billion euros ($2.3 billion) by 2022. It also left Camilleri to finish scripting a strategy to show how the company known for its racing pedigree and roaring combustion engines would shift toward making a sport utility vehicle (SUV) and hybrid cars while increasing shipments without sacrificing its exclusivity. "Investors want to hear whether Ferrari confirm the 2 billion euro figure, which was already seen as ambitious and now somewhat put in question by the new CEO," said Emanuele Vizzini, general manager at Milan-based investment fund Investitori Sgr. "And how they plan to expand the portfolio, including an SUV." 'Nurture what he's found' When Camilleri faces investors at Ferrari's Maranello headquarters on Tuesday he is not expected to stray far from his predecessor's script. Marchionne had orchestrated Ferrari's spinoff from parent Fiat Chrysler, positioned it as a luxury icon rather than a carmaker and managed to do what few thought possible: sail through a self-imposed cap of 7,000 cars a year without sacrificing pricing power or its exclusive appeal. "Ferrari is running almost on autopilot ... Camilleri should not take any risks at this stage but nurture what he's found," said Carlo Gentili, CEO at asset manager Nextam Partners. When Ferrari's share price hit a record high of 129.50 euros in June, the company that sold slightly fewer than 8,400 vehicles last year was worth about 24 billion euros. That is almost as much as Fiat Chrysler <FCHA.MI>, which shipped 4.7 million cars. With profit margins above 30 percent, strong pricing power and a healthy customer waiting list of more than a year, Camilleri inherits a business that is firing on all cylinders.

ATS rises from the ashes with its gorgeous GT supercar

Here's a name we haven't heard from in a while: Automobili Turismo e Sport is throwing its name back as an entrant in the war of the supercars with its new GT, a coupe that serves as a successor to a never-produced gran turismo car from the 1960s. True to its rarified segment, just 12 models will be produced starting at about $1.33 million, each highly customized to the purchaser's tastes. The coupe is a successor to the 2500 GT, which was revealed at the 1963 Paris Motor Show but never went into production before the entire company shut down in 1964. ATS was launched by Carlo Chiti and Giotto Bizzarrini after leaving Ferrari in 1961 due to a dispute with Enzo Ferrari. The initial aim was to beat Ferrari, and the company managed to produce a Formula One racer and the mid-engine 2500 GT. Despite teasing several models in recent years, the GT will be the company's first new production supercar in nearly half a century. Today's version of the company is being run by ATS's design chief, Emanuele Bomboi, and Daniele Maritan, a former race car driver turned importer and distributor of fast sports cars. The company insists this rebirth "is not a 'nostalgia' operation" and says it has other ideas it plans to develop beyond the GT. Bombi formerly worked for Fiat and Bertone, and it shows in the GT's styling. "The side silhouette of this new Gran Turismo is charged with energy, with clean lines framing arched surfaces," the company says. "The outlines above the wheel are evocative while a clean flowing line divides the car's upper and lower halves. As with the original car's design, the windows provide a focus for the flanks of the car." The new car also borrows its predecessor's front spoiler, which runs the whole width of the car with the same blue Dragon of Bologna logo, with two stripes running along the bonnet. It gets a carbon fiber body and chassis for a curb weight of 2,866 pounds. Powering the GT is a 3.8-liter, twin-turbo V8 mounted behind the cabin that does 650 horsepower and 500 pound-feet of torque. Or, buyers can upgrade to a 700-horsepower version with 553 lb-ft of torque. Either is mated to a seven-speed dual-clutch transmission that drives the rear wheels. Zero to 60 time is around 3 seconds, and top speed is around 206 mph. Three driving modes are offered — Viaggio, Sport and Corsa — with each configuration changing the colors of the cockpit controls from blue, to yellow and red, respectively. Does that sound a lot like the McLaren 650S to you?

2017 Frankfurt Motor Show | Observations on the Ferrari Portofino, Honda Urban EV and more

Related: We obsessively covered the Frankfurt Motor Show — here's our complete coverage The 2017 Frankfurt Motor Show kicked off the fall reveal season with an impressive array of powerful cars blended with forward-looking concepts. It's a seminal period for automakers, who find themselves at the intersection of disruption and opportunity. With that in mind, here are four takeaways from Frankfurt. The transformation of the curvy yet overbaked Ferrari California T into the Portofino is complete, and its coming-out party in Frankfurt served notice that Ferrari's entry-level sports car is much more formidable. There was nothing wrong with the California (and later the California T), but the Portofino features a cleaner look with stronger lines and an elegant resemblance to the rest of the Ferrari family. The California name is a good one. Used on a number of memorable cars in the 1950s and '60s, it's steeped in tradition, and certainly Ferrari will dust it off again. But switching to Portofino, the name of a scenic town in Italy, is a nice way to change the conversation and generate fresh interest in this part of the Ferrari portfolio. Man, people are stoked over the Honda Urban EV concept. Why? I assume it's the retro look that harks back to early Civics, and the lack of information about the concept itself. What people don't know, they're imagining. Honda hasn't even confirmed the range, the car is very small, and it likely won't be sold in the United States. With this dearth of facts, enthusiasts are filling in their own blanks. I guess that's OK. Count me among the intrigued. When I saw pictures of this thing early Tuesday morning, I was pretty excited, too. We do know Honda is expanding its electric strategy, and two-thirds of its new vehicles sold around the world will have some form of electrification by 2030. The Urban EV launches in Europe in 2019, and a hybrid CR-V rolls out in Europe next year. Unconfirmed for the U.S. market, it seems like a no-brainer to bring that version of the CR-V here. The electrification and autonomous tech parade of concepts continues. You gotta be there. It's the cost of doing business in the modern automotive landscape. This technology takes years to develop and launch, so the next best thing to remind the world you're trying to be cutting-edge is to show off lots of fancy concepts. Frankfurt had plenty. A couple standouts: The BMW I Vision Dynamics and Audi's Elaine and Aicon.