1985 Ferrari Mondial on 2040-cars

Auto blog

New Chevy ad suggests truck war is alive and well | Autoblog Minute

Senior Editor Greg Migliore discusses Range Rover spy shots, Faraday Future's new executive hire, and the Chevy-Ford truck war. Ferrari Ford SUV Autoblog Minute Videos Original Video transportation faraday future marco mattiacci

Ferrari to keep CEO Amedeo Felisa post spin-off

Ferrari is undergoing a big shakeup, and not just on the Formula One racing grid. It's just parted ways with its longtime chairman, is being spun off from the rest of the Fiat Chrysler Automobiles group and will soon launch its initial public offering on the stock market. But one thing it's not about to change at this point is its CEO. Speaking to journalists in Milan this past Friday, FCA chairman John Elkann said, "There will be no CEO change," indicating that the job of chief executive Amedeo Felisa is secure for at least a while longer. After two decades at Alfa Romeo, Felisa joined Ferrari back in 1990, was named general manager in 2006 and chief executive in 2008. In that capacity, he's always reported to company chairman Luca di Montezemolo, whose place was recently taken by Sergio Marchionne. It remains unclear, however, just how directly involved Marchionne will remain in the Prancing Horse marque, especially after the spin-off, and what that would mean for Felisa. In launching the IPO, Ferrari could institute a loyalty scheme that would award additional stake to the company's oldest and largest shareholders – which would only further entrench the holdings of the Agnelli family which Elkann heads and which stands to become the largest stakeholder in Ferrari after its separation from the rest of the group.

Gooding's Pebble Beach auction tops $128 million in sales

While the million-dollar cars are now packed up for Monterey Car Week, the auction results keeping rolling in. Gooding & Co. set a two-day company record by moving over $128 million in beautiful classics during the event. Of the 115 lots that sold, three brought over $10 million, and 26 more went for over a million. In a surprise to no one, a Ferrari led the way when a 1961 250 GT SWB California Spider sold for $16.83 million. That was a new single-lot record for the auction house. In a close second place, a 250 GT SWB Berlinetta Speciale previously owned by famed auto designer Nuccio Bertone went for $16.5 million. Rounding out the top three, a 1982 Porsche 956 that won Le Mans in 1983 cleared $10.12 million. Porsche also grabbed fourth place with a 1960 RS60 going for $5.4 million, and rounding out the top five was a 1957 Ferrari 410 Superamerica Series II Coupe for $5.1 million. Check out the gallery above for a look at many of the beautiful vehicles in the sale. While the press release below lists the top sellers, you can check out the prices and info for all of the lots on Gooding's website, here. Gooding & Company's Two-Day Pebble Beach Auctions Realizes More Than $128 Million 3 cars sell above $10 million, 26 cars above $1 million New auction records broken for Ferrari and Porsche Pebble Beach, Calif. (August 17, 2015) – Gooding & Company, the official auction house of Pebble Beach Concours d'Elegance®, realized more than $128 million at its Pebble Beach Auctions this weekend, resulting in a two-day sales company record. During the two-day sale, the auction house sold 115 of 129 lots, an 89% sale rate and their highest ever average price of $1,113,896 per car. During the auction weekend, an impressive 26 cars sold over the $1 million mark including three vehicles over $10 million. World records were broken as new market standards were set for Ferrari and Porsche, including a 1961 Ferrari 250 GT SWB California Spider (sold for $16,830,000), 1962 Ferrari 250 GT SWB Berlinetta Speciale (sold for $16,500,000), Le Mans-winning 1982 Porsche 956 (sold for $10,120,000), 1960 Porsche RS60 (sold for $5,400,000), 1957 Ferrari 410 Superamerica Series II Coupe (sold for $5,087,500), and a 1988 Porsche 959 Komfort (sold for $1,732,500). David Gooding, President of Gooding & Company: "New bench marks were set and our company hit a new record for highest two-day sale.