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Ferrari looking to become even more exclusive

While most automakers are clawing and scratching for every possible sale, it sounds like Ferrari is content in losing a few potential customers in the name of better exclusivity and higher profits. Autocar reports that Ferrari chairman Luca di Montezemolo recently stated that the Italian automaker hopes to sell fewer than 7,000 units globally in 2013 compared to last year's tally of 7,318.
As a part of this plan, Ferrari will be slowing its production lines and trying to create a balanced market for its cars in the US, the Middle East, Europe and China - the latter two being the automaker's biggest markets. Montezemolo also said that Ferrari would not be expanding its model lineup with SUVs, sedans or small cars.

Ferrari F12 TdF shrieks like a banshee on the Gumball

With all the exotic metal (or carbon) participating in the Gumball 3000 rally each year, it takes something truly exceptional to turn heads. The new Ferrari F12 TdF is up to the challenge. For those who may have missed the reveal back in October (and this week's episode of Top Gear), the F12 TdF could very well be the ultimate naturally-aspirated twelve-cylinder Prancing Horse. And by "ultimate," we mean possibly the last, before turbochargers and hybrids take over Maranello completely. Named after the legendary Tour de France (for automobiles, not cyclists), Maranello's latest is based on the F12 Berlinetta, but like the 599 GTO before it, the TdF pushes the envelope even further. Its 6.3-liter atmospheric V12 revs all the way up to 8,900 rpm, producing a monstrous 769 horsepower and 520 pound-feet of torque along the way – enough, in other words, to put the Lamborghini Aventador SV (and most anything else) to shame. It'll reach 62 miles per hour from a standstill in less than three seconds, top out at over 211 mph, lap Fiorano faster than any road car this side of LaFerrari, and slide around all day and all night with its four-wheel steering system. And it screams. Don't take our word for it: turn up the speakers, hit "play," and listen to the F1-like shriek it emits out in the wild. Related Video: News Source: Marchettino via YouTube Ferrari Coupe Performance Videos ferrari f12 gumball 3000 ferrari f12 tdf

Michigan man gets jail time for Ferrari engine sale

Tax evasion is not something to mess about with. Ask Al Capone. For most of us that sell stuff, though, it's not something we really think about. Are you honestly going to pay taxes on that old iPhone 5 you sold? The couch with the questionable stain? No, because paying tax on something you sold for a relative pittance is just a pain in the butt. If you sell one of Aurelio Lampredi's Ferrari engines – used in a range of vintage racers, including the 750 Monza shown above – for over $600,000, you might want to make a point of paying the taxes on your profits. A Michigan man found that out the hard way, Reuters reports, after selling the Lampredi engine in 2009. 71-year-old Terry Myr of Smiths Creek, MI, was convicted in April of tax evasion and four counts of failing to file a tax return and was sentenced to two years in prison and two years of supervised release on Thursday. He was also ordered to pay $738,904 in back taxes, interest, and penalties – he already owed $195,000 in back taxes before his conviction – by a US District Court judge, Reuters reports. Now, this wasn't a simple case of Myr forgetting to set some money aside from the sale. The buyer wire-transferred the $610,000 into a corporate account he made the week prior. Then, Myr promptly withdrew $360,000, which he used to buy silver and gold coins, while the remainder was transferred to other accounts – be they personal or corporate – or simply used for checks to cash. Hence the tax evasion charge. According to Reuters, no explanation was given as to how Uncle Sam uncovered the engine sale in the first place. Related Video: