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Ferrari families have 'agreement' to prevent takeover

With its initial public offering already a massive success, Ferrari is now officially a publicly traded company on the New York Stock Exchange. While anyone can buy those shares, don't expect investors to take control away from some of the top owners of the Prancing Horse anytime soon. To maintain their power, Enzo Ferrari's son, Piero, and Exor chairman John Elkann will sign a deal guaranteeing themselves nearly half of the automaker's voting rights, Bloomberg reports. As part of this arrangement, shareholders that agree to hang onto Ferrari stock for at least three years would receive additional voting rights in the company, and that would give Piero and Elkann a combined 48.7 percent of the automaker by banding together. While not quite complete control, the move should be enough to prevent a takeover of the business. "We have an agreement among the families to protect our interests in Ferrari," Piero said to Bloomberg. This agreement won't really become a concern until next year because only 10 percent of Ferrari will be traded for now. FCA will distribute another 80 percent to its shareholders in early 2016, and Elkann's Exor will be getting the largest portion of the Prancing Horse in the spin-off. Meanwhile, Piero holds the remaining 10 percent but has absolutely no intention to sell his stake in his father's business. The newly public Ferrari will push to grow volume with a goal of moving 9,000 vehicles annually by 2019. To reach that 30-percent boost, expect to see a new model every year, and some of them might use a new, modular platform that's reportedly under development. Related Video:

Ferrari to launch new model every year, keep production limited

You've no doubt perused the big news coming out of Fiat-Chrysler's headquarters in Auburn Hills, MI today. But at the end of the brand discussions, Sergio Marchionne spoke briefly about an incredibly important, low-volume part of the Fiat-Chrysler empire: Ferrari.
"You do need one of these cars in your driveway," Marchionne joked. And while other brand heads today lined out detailed plans for future product, Sergio's words about Ferrari's next five years were very simple, and very vague.
Marchionne confirmed that Ferrari will launch a new car every year between now and 2018. The cars will have a four-year lifecycle, after which, "M" versions will be produced, with a separate four-year cadence. No specific models were mentioned during Marchionne's presentation.

2020 Fiat 124 Spider Abarth gets ‘Scorpion Sting' appearance package

There’s currently a cloud of uncertainty surrounding much of the Fiat lineup, and especially the 124 Spider after the brandÂ’s CEO, Olivier Francois, was recently quoted as saying that FiatÂ’s sporty cars “have no legitimacy” and the brand needs to focus elsewhere in the future. It recently pulled the convertible from the U.K., and through the first six months of the year here in the U.S., it had sold a mere 1,528 models, down 19%. (Fun fact: for the first half of 2019, the entire brand sold just 5,103 models, down 38% from the prior year.) But forget all that for now, because Fiat is in denial celebration mode, marking the brandÂ’s 120th anniversary and the 70th anniversary of its Abarth performance sub-brand. To commemorate the occasion, Fiat is offering a “Scorpion Sting” appearance package on the 2020 model-year 124 Spider Abarth. Most prominent is the rosso scorpion hood decal that harkens to the Abarth badge and founder Karl AbarthÂ’s astrological sign. There are also nifty stripes in the same color that run along the length of the roadsterÂ’s lower body. It's available now for $395, and that pretty much wraps it up. Fiat re-introduced the 124 Spider at the L.A. Auto Show in 2015 as a car based on the Mazda MX-5 MiataÂ’s platform, but with its own Italian design and the 1.4-liter turbo-four engine from the 500 Abarth, offering 164 horsepower and 184 pound-feet of torque. Fiat added new options for the roadster for 2019, including a dual-mode “Record Monza Exhaust” for added growl, plus various appearance packages.