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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

Ferrari F1 ace Sebastian Vettel shows the proper way to drive the LaFerrari Aperta

Listen, let's be frank here, we don't have to tell you much to get you to watch this video. It's a new Ferrari LaFerrari Aperta, that's the convertible variant, being driving on mountain roads and a race track. Behind the wheel is Ferrari's ace Formula One driver and four-time champion, Sebastian Vettel. Do you really need more than that? Fine, we'll tell you a little more. The LaFerrari Aperta sounds amazing, with all 12 cylinders shrieking as Vettel pushes it around corners. On track, we get to see a quick snippet of Ferrari's pride and joy drifting, too. The trio on the The Grand Tour would surely approve. The video also celebrates Ferrari's racing history, which spans nearly 70 years, by showing the company's famous race cars in reflections as the LaFerrari passes by. If that's not enough to get you to watch the video, you must really hate Ferraris. Related Video:

Early Ferrari F40 prototype destroyed in roadside fire

The people behind Tax the Rich have made a name for themselves by doing the sort of things with six and seven-figure supercars that Ken Block does with rally-prepped Subarus and Fords. The group's last video, released just over a year ago, features a rare prototype Ferrari F40. According to Ferrari Chat and IVG.it, another car from that collection is no more, having been reduced to a thin, black crisp. It's a terrible thing to see cars end up in such a state, especially one with such a storied history. It's unclear how the fire started, but old Italian supercars don't exactly have the best reputation for reliability. Hell, even some new Ferraris have had issues with catching fire. This particular F40 is believed to be the sixth prototype ever built by Maranello, going on display at the Frankfurt Motor Show in 1987. According to Motor 1, the car was converted to GT spec in 1991 and raced continually over its life. While some rare supercars have been brought back from the brink and fully restored, it's hard to imagine there is any way to salvage what's left. A Facebook video from Patrich Poggi shows a broken, sullen husk, parked on the side of the road and covered in fire retardant. If you didn't already know, it would be difficult to tell what sort of car you'd be looking at. At least this F40 spent its life on the road and on the track rather than sitting in the back of a garage in someone's collection. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: IVG.it via Motor 1, Ferrari ChatImage Credit: Patrich Poggi Ferrari Coupe Supercars