2011 Ferrari Approved Cpo California, Grigio Silverstone/nero on 2040-cars

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Ferrari stock demand exceeding supply

As with the Ferrari cars, so it is with shares in the company's initial public offering: When Ferrari has a limited quantity of something to sell, demand far outstrips supply. Investors told banks weeks ago that bids for the $1 billion in stock – up to 18.89 million shares – would exceed the number of shares available over the entire expected range of $48 to $52. Ten percent of the company is going on the block' Bloomberg reports that the books close on the IPO on Monday at 4:00 pm. The final price will be set on Tuesday, and trading will begin Wednesday under the ticker symbol RACE on the New York Stock Exchange. Piero Ferrari, the son of Enzo Ferrari, will hold onto the ten-percent stake he currently has in the company. Fiat Chrysler will disburse the final 80 percent to its investors sometime in 2016. In combination with spinning Ferrari off from its parent company next year, the share sale is expected to put $4 billion into Fiat Chrysler coffers, which will be used to help fuel the growth of Alfa Romeo, Jeep, and Maserati. Assuming all goes to plan, Bloomberg says Ferrari will be valued at roughly $12 billion, a number $1 billion greater than the valuation Fiat Chrysler CEO Sergio Marchionne put on Ferrari earlier this year and higher than the brand's own internal assessment. Related Video:

No electric Ferraris before 2022, says Marchionne

Ferrari is readjusting its electric car timeline. Earlier, the company's chairman Sergio Marchionne had said that an electric Ferrari would be part of its 2018-2022 strategy, but now it seems that the advent of the full-electric era is being pushed into the future. As recently as January's NAIAS show in Detroit, Marchionne stated, "If there's an electric supercar to be built, then Ferrari will be the first." Automotive News reports that Marchionne recalibrated that claim in a company meeting on April 13, saying that a full-electric Ferrari "is not relevant at the moment." If there will be an electric Ferrari, it will be announced after 2022. Earlier than any of that, Marchionne had called an electric Ferrari "an obscene concept," adding, "You would have to shoot me first." It is likelier that Ferrari will keep gasoline engines as part of all its models for now, even if they get boosted by hybrid technology. Marchionne said Ferrari is debating which of its production models will be electrified in the future; earlier in Detroit, he had said that the company's first series production hybrid will debut at the Frankfurt motor show in fall of 2019. There have been limited-edition hybrid Ferraris already, the LaFerrari and its topless Aperta version. Related Video: Image Credit: Autoblog Quebec Rumormill Ferrari Electric Hybrid Supercars Sergio Marchionne ferrari hybrid electric ferrari

1956 Ferrari 250 Tour de France could fetch $11M [w/video]

Highly valuable and arrestingly gorgeous classic Ferraris come up for auction all the time. Most of them derive from the 250 series: GTOs, SWB Berlinettas, Lussos, Testa Rossas. And when they do, they almost invariably fetch big bucks. But there's something about this one that just stops us in our tracks. The long wheelbase, the simple but elegant lines, the French blue paintjob and minimalist racing livery.... That it happens to have an unsurpassed racing history only sweetens the deal, as we're sure collectors are bound to find out when bidding opens in Monterey next month. This 1956 Ferrari 250 GT Berlinetta Competizione was one of just 14 made, and one of just nine built by Scaglietti without the louvers on the remaining five Zagato-bodied examples. But what sets it apart is its racing history. It belonged to the legendary Marquis Alfonso de Portago, a Spanish nobleman and gentleman racer who rose to celebrity status in the early 1950s. Renowned for courting both women and danger, de Portago took to motor racing in 1953, proved a quick study, and was signed by Ferrari in '56. Portago drove this very car to victory at the notoriously challenging Tour de France, which included two hill climbs, six circuits, and a drag race over the course of six days. With his longtime compatriot and co-pilot Edmund Nelson (whom he befriended as a child living in New York's Plaza Hotel where Nelson worked the elevator) at his side, the Marquis dominated the event. So kicked off a series of four consecutive wins Ferrari would take at the famously grueling race, cementing this model's name as a result. The duo won a number of other races in this car, which proved practically undefeated in their hands. Tragically, Portago and Nelson were killed in a crash at the Mille Miglia mere months later, putting an end to their lives as well as that of the Italian road race. The car subsequently passed through the hands of a number of notable collectors on both sides of the Atlantic, underwent a ground-up restoration in the early 1990s, and has won top honors at numerous events, including Pebble Beach, Meadow Brook, and the Louis Vuitton concours d'elegance. It's now going up for auction for the first time in 23 years as part of RM Sotheby's array at Monterey this summer.