Fiat/Chrysler finalise merger with merged conference call on sales and ernings

Fiat and Chrysler will for the first time hold a single conference call on their annual results on Wednesday as the two companies finalize a merger that will create the world's seventh-largest auto group.

Fiat said on Jan. 1 that it had struck a $4.35 billion deal to gain full control of Chrysler by buying the remaining 41.46 percent stake that it did not own in the U.S. carmaker from the United Auto Workers VEBA Trust.

The move was the last step needed before the Italian and U.S. carmakers can merge allowing Sergio Marchionne, who heads both companies, to combine their resources as he seeks to cut losses in Europe.

Full ownership of Chrysler enables Marchionne to create a global industry player with better scale to challenge General Motors Co. and Volkswagen Group. He has tried since taking the helm at Fiat in 2004 to buy a competitor to give the struggling Italian manufacturer a worldwide market strategy for growth.

Merging the two companies will allow Fiat to pool cash with Chrysler and tighten cooperation between its Alfa Romeo, Lancia and Maserati brands with Chrysler, Dodge and Jeep.

The 2013 results' conference call will be held at 15:00 CET, Fiat said in a statement on Monday.

REPORT HERE

FIAT completes takeover of Chrysler Group.

Fiat S.p.A. (“Fiat”) through its wholly owned subsidiary, Fiat North America LLC (“FNA”), today completed its previously announced acquisition of all of the VEBA Trust’s[1] membership interests in Chrysler Group LLC (“Chrysler Group”). Chrysler Group is now a wholly-owned subsidiary of Fiat. The consideration for the acquisition consisted of:

• a special distribution paid by Chrysler Group to its members on January 21, 2014 of U.S.$1,900 million (FNA directed its portion of the special distribution to the VEBA Trust as part of the purchase consideration); and
• a cash payment by FNA to the VEBA Trust of U.S.$1,750 million.

Fiat funded the U.S.$1,750 million payment from available cash on hand. Chrysler Group funded the special distribution from available cash on hand.

As previously announced, contemporaneously with the transactions described above, Chrysler Group and the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (the “UAW”) entered into a Memorandum of Understanding under Chrysler Group’s existing collective bargaining agreements to provide for additional contributions by Chrysler Group to the VEBA Trust of an aggregate of U.S.$700 million in four equal annual instalments, the first of which was paid in connection with closing of the transaction with Fiat.

As part of the transactions and as promptly as practicable, FNA and the VEBA Trust will dismiss with prejudice the proceedings before the Delaware Court of Chancery with respect to the interpretation of the call option agreement.

TMW - EUROPEAN SALES - Full brand sales in Europe for 2013

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2013 was a year of varying successes and failures, however overall 2013 was most probably the year that the Europe wide fall in sales finally flat-lined, there were some huge stories that hit the worldwide media over the last twelve months, namely the takeover of Chrysler by FIAT, VW's continued dominance in Europe, followed far far behind by the PSA group, who themselves are in continued talks about mergers, takeovers and financial dire straits.

But the main story, well on this blog, is the brilliant news that Jaguar Land Rover carry on where they left off 2012, and thats higher sales, better profits, more models, and more improvement in reliability. as well as the awards, that just flowed month after month to JLR, The stunning F-Type, new Sport and the big daddy, Range Rover, all said hello, and like a hound after a hare, the sales shot off, at a high rate of knots, the next few years will be a huge one for JLR, with massive investment, the new Engine plant at Wolverhampton UK, comes on stream this year, the new 3-Series competitor will emerge, as well as the new XF, and SUV.

The last year or two have been devoted to getting Range Rover right, this has been done, now it is the turn of Land Rover and Jaguar, with the Freelander name disappearing and being replaced with the Discovery moniker making Discovery a brand in its own right, but this is not all, a brand new plant in India, China, Mexico and Saudi Arabia are all with built, building or in the planning stages, JLR will become a huge company, one that the likes of BMW and Mercedes will do well to keep their eyes on.

SEAT and Skoda saved VAG by adding over 40,000 models to the 2012 sales, but VW, AUDI and Porsche all took hits keeping 13's sales below 12's, however the mighty VAG will not rest on its laurels, they did sell nearly three million cars in the EU last year, and nearly Ten Million worldwide, so a few thousand is really nothing, but I am sure that there will be meetings and conversations high up to fathom out the issues and processes put in place to ensure it does not happen this year.

The French brands fared little better, -8.4% for the PSA company and up 4.4% for Renault Group, however it was the Dacia brand that saved Renault, and a massive first year in the UK where it sold over 17,000 cars in its first year, not bad for an unknown brand, its seems that the UK customer did indeed do the maths (reference to the UK TV advertising "Dacia - You do the maths"), Peugeot and Citroen, for two old brands, with great products 2013 was a let down, but 2014 will be better, Peugeot will have the youngest range of products in its history, Citroen will continue with the DS brand and push it further into China, and with the 308 coming on stream worldwide, along with the 208 and 2008, this year will be a significant year for the French giants.

FIAT Group, well, where to start, what a rubbish year in Europe, every brand in their portfolio fell, even the great Ferrari didn't do exceptionally well in Europe, Alfa needs a Miracle, Lancia needs putting to sleep, FIAT needs billions of euros to turn it around, and Chrysler just has not succeeded in the EU, the real story with FIAT is the takeover of Chrylser and the continued slide of Alfa Romeo, it is surely going to take a vast amount of money and talent to get FIAT Group back on top.

Of the other US brands, both had minor falls, Ford dropped 3.2% and GM by 4.3% with Vauxhall saving GM further embarrassment, by increasing sales by over 11% in the UK, adding 20,000 extra sales, 2014 will be interesting to watch, to see if the announcement of Chevrolet pulling out of Europe will effect sales, I am sure that GM wont be advertising the fact, as any sales are worthwhile, even if they are pulling out.

The so called premium brands, BMW and Mercedes were complete opposites, with BMW+MINI dropping and Mercedes+SMART rising, of the remaining brands in Europe only Kia and Mazda managed to increase sales on the previous year, but with the majority of the drops only small numbers, just saying drop or rise is a little innocuous, overall the Europe market dropped by a rather insignificant 1.7%, but that 1.7% equates to about 200,000 sales, and that's not to be ignored.

2014 will be a year of change, more emphasis on China for a lot of brands will bolster sagging sales elsewhere, most companies have significant new car releases this year, so again sales figures will be buoyant, and with the increased sales, the fight for customers will start again, with various offers, finance packages and deals to tempt, even the most tight fisted buyer, these in turn will start the spiral that eventually ended up with the entire worldwide market crashing back in 2008, have any of the Motor Manufacturers taken note and will they act accordingly, don't be silly, it will just carry on as before, the belts will tighten, and gradually they will slip, and sometime in the future, we will all be back here doing the same thing.

In the mean time, enjoy the great new cars that are due this year, and take advantage of any and all offers that are around, and remember, at the end of the day, it is only a car, and not life and death, duh, what a lot of rubbish, we live for cars around here, and any new car is met with a smile and a great deal of interest, that's why we publish all we can. Enjoy them all and here is to the next 11 months of new releases, hopefully better sales and lots of interesting news and gossip from around the world.

Jon Mower

Felipe Massa Interview.

It's nearly time to say farewell. At the end of the year, Felipe Massa and Ferrari will go their separate ways in racing terms, but the affection that links the Brazilian to the team with which he grew up, as a driver and a man, will always be strong. That is clear from what Felipe had to say in an interview with Andrea Cremonesi in an interview in today’s Gazzetta dello Sport, as part of the build up to the 2013 Finali Mondiali, which gets underway today and goes on until Sunday at the Mugello circuit. The event will also serve as tribute that Ferrari wishes to pay to Felipe, who as stated in the headline to this story, will always be a Ferrari man.

Ten years at Ferrari, a racing life. Only Michael Schumacher wore the red race suit for longer than Felipe Massa, who leaves Maranello at the end of the year. Wearing that red suit, the Brazilian came within touching distance of taking the world title in 2008, but he also almost lost his life at the 2009 Hungarian GP.

The party in Mugello will feature the final huge Ferrari crowd: how will you feel going to the event in Tuscany?

“With happiness in my heart, because it will be wonderful to salute the fans to thank them for all the years we have spent together. They have always supported me, even in the most difficult times.”

Eight years as race driver: what’s the secret to staying such a long time at Ferrari?
“I have always behaved honestly and have given my all in my work on the track, with the engineers and in the factory. I think I have always acted very professionally.”

Do you remember your first day?
“It was early 2001 and I had come off the back of a season in F. Renault with Cram: I went to meet Jean Todt in a jacket and tie. Very tense and I was shaking.”

The best moment of this long adventure in red?
“Definitely 2008 when I came that close to the world title, with many wins and poles. But the day that will always stay with me was the one of my first win in Brazil (2006.) For a Brazilian to win at home is like taking the championship. Remember Senna? When he won in Interlagos he was happier than when he won the championship! I learned to race in Interlagos, I grew up there: to win there in a Ferrari wearing a green and yellow suit (not the usual red one, Editor’s note) was the best moment of my life.”

How do you explain to a youngster joining the FDA what it means to be a Ferrari driver?
“Mm, well first that it's hard to get in! Because the selection of drivers is a tough process and it’s already a privilege to be part of the reds. And then, driving for this team means always being under the spotlight, you must always push to the maximum without worrying what people will say about you. It’s like being in a National football team, driving for Ferrari is like being in the Italian football team or playing for Selecao. You have to be prepared.”

After the accident in 2009, did your priorities in life change?
No absolutely not. Only that now I value life more. Because you always think nothing can happen to you and then…”

Stefano Domenicali said that he always considered you as a world champion after 2008. Did you sense that?
“100% yes. I deserved the title, taking into account the season and everything that happened…”

Sebastian Vettel took his fourth title this year: are those titles more down to him or his team?
“It is 100% down to him and his car. Because it’s true he drives the quickest and most consistent car. But then it’s he who manages to extract its potential, who takes pole, who puts 6 tenths over on everyone, including his team-mate! He’s a fantastic driver.

Let’s play at defining the men who have been your bosses, starting with Luca di Montezemolo.
“He is a big hearted person, and an able promoter. He knows how to describe and sell the idea of Ferrari. He is the right man for the job of president and I’m not just talking about the racing. He has an enormous aptitude for representing the company.”

Jean Todt.
“My best teacher. I first knew him when I was 19 and he has been the most important person in my career.”

Stefano Domenicali.
“Definitely a friend, we have grown up together at Ferrari.”

Rob Smedley, his race engineer.
“He has played an important role in my career. When I first raced for Ferrari my race engineer was Gabrielle Delli Colli, but things didn’t go as they should have done and so I chose Rob who was there at the start and was with the test team (he came from Jordan, Editor’s note.) He knows me 100%.”

You have had many team-mates, which was the strongest?
“Fernando. Schumacher was as quick, but in terms of intelligence, Alonso is better because he manages to put everything together perfectly.”

Ferrari started 2013 strongly but then it stalled.
“At the start of the year, the car was competitive, but the mistake was that we didn't manage to develop it as we should have done and as others did. The performance difference in this final part of the championship is down to a car that was not developed in the right way.”

Are you already thinking what you will do after F1?
“I love racing, it’s part of my life and makes me happy. Maybe after F1 I’ll try my hand at some other category.”

Which ones would you like?
“DTM or Brazilian Stock Cars.”

Webber has decided to race in Prototypes?
“I have no experience of endurance racing, however if they managed to get more top teams involved it could become interesting.”

Ferrari posts significant gains at the nine month period.

• Revenues: 1.711 million euro (+6.7%)
• Trading profit:  264.2 million euro (+20.2%)
• Net profit: 178.8 million euro (+23%)
• EBITDA: 454 million euro (+15%)
• Record industrial net cash position: 1.350 million euro
• Homologated cars delivered:  5,264 in line with 2012
• A new company is being created to manage brand-related activities

The Ferrari S.p.A. Board of Directors met today under the chairmanship of Luca di Montezemolo to examine the financial results for the first nine months of 2013.

Ferrari’s strategic decision announced last May - to reduce volumes and maintain exclusivity while also increasing revenues - has already begun to yield its first results.  While deliveries to the dealership network have remained largely unchanged (5,264, three less compared to the first nine months of 2012), revenues have increased by 6.7 per cent to 1.711 million euro.

Trading profit jumped by over 20 per cent to 264.2 million euro as did net profit to 178.8 million euro (+23 per cent).

The company’s industrial net cash position has reached new historic record level and, on September 30th, stood at 1.350 million euro, despite an on-going commitment to heavy investment in product development which has resulted in the company’s most complete and innovative range ever, as demonstrated by the models launched in the first nine months of the year: LaFerrari, the first hybrid which represents the ultimate expression of technological innovation, performance and futuristic styling, and the 458 Speciale, an extreme V8-engined berlinetta with Ferrari-patented electronic dynamics controls and aerodynamics.

Ferrari’s industrial net cash flow for the period was 281 million euro.

These results are the fruit of an excellent product mix (12-cylinders accounted for 25 per cent of sales thanks to the consistent success of FF and higher F12berlinetta deliveries), an increasing contribution from all the services for customers, such as the Atelier and Tailor Made personalisation programmes, restoration of classic cars, along with continuing, significant turnover from Brand activities.

Markets

Sales continue to grow (+8 per cent) in the USA and Canada to 1627 cars, and it is foreseen that deliveries will increase moderately up until the end of 2013 to avoid excessively long waiting lists.

In Europe, the UK (+15 per cent, 580 cars delivered) is yielding very gratifying results, thanks in part to the arrival of the right-hand drive F12berlinetta. Deliveries to Germany were down by 3 per cent (520 cars) in line with the plan announced earlier this year. Italy remains a marginal market due to restrictive fiscal policies, and now accounts for less than 3 per cent of total sales with just 145 cars delivered to dealerships.

Sales were excellent in the Middle East (+40 per cent, 382 cars) and Japan  (+17 per cent, 250), while Greater China (People’s Republic of China, Hong Kong and Taiwan) is very much a two-sided coin.  Deliveries to end clients are on the up but deliveries to the network are falling: in fact, the latter have been reduced by 139 to 427 cars. This decision was influenced by two factors: the need to main the brand’s exclusivity on traditional markets, such as Hong Kong, and to take a more cautious position on the People’s Republic of China where rises in taxes on luxury goods may be in the offing.

“I am very satisfied with the results for the first nine months of 2013,” declared Luca di Montezemolo. “They are the fruit of our constant focus on exclusivity, which guarantees significant returns for our shareholders as well as growing numbers of services for clients. The revenues from personalisation programmes and Ferrari Classiche’s activities ably demonstrate this fact and the latter will receive an additional boost when a dedicated centre for collectors opens in the US. We have also maintained our high level of investment in product development and employment: in fact, this year we have already taken on 200 new staff.”

Brand

The Board of Directors also sanctioned an important decision with regard to our Brand-related activities (licensing, franchising retail, e-commerce) which, because of their specific nature, require a different management approach to car manufacturing. As a result, a New Co, 100 per cent controlled by Ferrari, will be set up to deal with all of these activities and guarantee improved, more dedicated operations management.

In the meantime, our Brand activities as a whole continue to deliver positive results. Retail revenues have increased by 17 per cent while licencing is up 3 per cent, thanks to important new partnerships with Electronic Arts and Codemasters, who now flank the well-established licence-holder Microsoft, strengthening the company’s presence in the Electronics & Multimedia sector

Lastly, e-commerce revenues rose by 18 per cent as the Prancing Horse continues to expand its presence on social networks with almost 13 million “likes” for Ferrari’s official pages.

Here is the $52-million Ferrari 250 GTO, the world's most expensive car

By Scott Reyburn, Bloomberg News

A 1963 Ferrari 250 GTO racer has become the world’s most expensive car, selling for $52 million.

The red competition car, formerly owned by the Greenwich, Connecticut-based collector Paul Pappalardo, was acquired by an unidentified buyer in a private transaction, said three specialist traders who independently confirmed the purchase and price to Bloomberg News. Recently, the car has been owned by a Spanish collector, the car website www.barchetta.com said.

The price is a 49 percent increase on the record for any auto, achieved last year for another 250 GTO. Values of classic cars, particularly Ferraris of the 1950s and 1960s, continue to grow, attracting new enthusiasts, investors and speculators — and prompting fears of a bubble in the market.

“Today the GTO is considered the top car to own,” the California-based dealer Don Williams of Blackhawk Collection said in an interview. “It’s like the Mona Lisa. It has a mystique. If you have a GTO, you have a great collection.”

The car was acquired by Pappalardo in 1974, restored and subsequently driven by the collector in many historic races, including the 2002 Le Mans Classic, before being sold on.

“We don’t confirm these things,” Pappalardo said when telephoned last night. “I have no comment.”
Stirling Moss

The Italian marque’s 250 GTO, created in 1962 to compete at the Le Mans 24-Hour and other Grand-Touring car races, is the world’s most desirable and expensive car. Only 39 were produced. An apple-green version, made for the British race driver Stirling Moss, was sold privately for a record $35 million, Bloomberg News reported in June 2012.

The latest record-breaking GTO, chassis number 5111, has a distinguished competition history, having won the 1963 Tour de France road race with the French driver Jean Guichet at the wheel.

New buyers have been attracted by classic cars’ investment potential, as well as the chance they give to participate in concours and racing events.

The bellwether auctions in California timed to coincide with the annual Pebble Beach Concours d’Elegance raised a record $301.9 million in August. The total, which included $27.5 million for a 1967 Ferrari 275 GTB/4*S NART Spyder convertible, was the highest for a series of classic-car sales anywhere in the world, according to the Michigan-based Hagerty database.

Pink Floyd
The highest prices for investment-grade autos have been achieved through discreet private sales. Owners of other Ferrari GTOs, who include Pink Floyd drummer Nick Mason, have recently received offers between $40 million and $50 million from prospective purchasers, dealers said.

Mason was among the GTO owners convening for a 50th- anniversary get-together in France in July 2012. He was joined by the Goldman Sachs banking scion Peter Sachs; Rob Walton, chairman of Wal-Mart; and Lawrence Stroll, the financier who built Tommy Hilfiger into a global brand in the 1990s.

“It’s a cult car,” the London-based Ferrari dealer Joe Macari said in an interview. “If you’re a billionaire, you feel you have to have one. I don’t understand the appeal of them. They’re not very beautiful and they never won Le Mans. I’d rather have a Testa Rossa.”

The HAGI F index of private and public sales of rare Ferraris was up 54.52 percent for the year, the London-based Historic Auto Group said in a report in August.

Sustainable Rises
“Nothing goes up like that in the mid-term,” HAGI founder Dietrich Hatlapa said in an interview. “Price rises of 55 percent aren’t sustainable in any market. We’re not saying the market is going to collapse. It will probably average out over time.”

Hatlapa said that prices of the rarest Ferraris have risen at an average annual rate of 15 percent for more than 30 years.

The current excitement in the classic Ferrari market has been confirmed by other individual owners.

The Belgian-based collector Johan van Puyvelde exhibited an unrestored 1948 Ferrari 166 Inter-Sport Corsa competition car in the Salon Prive concours show at Syon House, London, last month.

That Ferrari had been bought from a Californian private seller for between $2 million and $2.5 million last year. Van Puyvelde was recently offered $4 million for the car, the Belgian collector said in an interview.

“It is a bubble for certain cars,” said van Puyvelde, surrounded by well-heeled Salon Prive visitors, enjoying their complimentary Pommery champagne and barbecued lobster lunches. “The people who buy the top things do use them. The market is driven by genuine enthusiasm. They want to take part in events like this. I don’t think that many people are buying just for investment.”

Muse highlights include Jason Harper on cars, Rich Jaroslovsky on technology and Amanda Gordon’s Scene Last Night.

Source;
http://www.theprovince.com/entertainment/World+most+expensive+million+Ferrari/8993395/story.html

Charles Hurst, the only official Ferrari dealership in Ireland

Charles Hurst, the only official Ferrari dealership in Ireland, opened the doors of its completely new showroom in Belfast today, showcasing the Ferrari brand’s latest Corporate Identity which is being implemented across the dealer network worldwide.

The new design scheme reflects the essence of the brand, with performance and function the key elements, with cars displayed in the best way possible, with regards to lighting, viewing angles, space and environment. The customer lounge is a welcoming space where clients can feel at ease and can interact comfortably with dealer personnel as part of the sales and aftersales experiences, while the general environment reflects the brand characteristics: Italian, timeless, elegant, authentic materials, with light colours, shades of white and grey, and a mixture of direct, diffused and reflected light.

Matteo Torre, Regional Manager for Ferrari North Europe, commented: “Ferrari’s new brand identity is designed to provide a welcoming environment for customers, who can relax and enjoy the purchase and ownership experience. Ferrari is committed to providing the highest level of customer care and we are delighted to see the Charles Hurst showroom re-opening here in Belfast as I know we have many enthusiastic clients in the Emerald Isle whose experience with the brand will be enhanced by the new facilities we are opening here today.”

The dedicated “Atelier” is an intimate environment which stimulates creativity and imagination, with décor and a choice of materials which are designed to reflect the artisanship and craftsmanship of Ferrari. The Atelier includes a configurator on which clients can create and visualise their dream car, with a diverse range of exterior colours and interior materials, examples of which are displayed in the same way as at the Atelier in Maranello on which the dealer environment has been designed.

Richard Stinson, Franchise Director, commented: “Charles Hurst Ltd has represented the Ferrari brand in Belfast since 1995, and we are delighted to continue our special relationship with the Prancing Horse with this latest investment in our facilities. We look forward to welcoming our clients to our new showroom and are excited by the future with Ferrari.”

Ferrari 458 Speciale joins 458 range of stunning cars.

The 458 Speciale joins the Ferrari range alongside the 458 Italia and 458 Spider and, like all special-series Ferraris, is aimed at a specific kind of owner, in this case those looking for an even more focused sports car that offers extreme driving emotions.

Whether on the road or on the track, drivers will feel immediately at one with the 458 Speciale thanks to the speed with which it responds to every input and the consequently natural control that it offers, even in extreme manoeuvres. This finely-tuned handling balance enables the car to reach the highest performance levels of any Ferrari V8.

Ferrari’s core engineering philosophy centres around pushing the envelope with each new model whilst maintaining the innate chassis balance and handling that ensures that even non-professional drivers can extract maximum performance and driving pleasure.  With the new 458 Speciale all clients will be able to drive on the limit on the track as well as experience the exhilaration of genuinely sporty driving even at lower speeds on demanding roads.

The new berlinetta is, in fact, the result of the search for extreme technology, driving thrills and performance, with the application of advanced technical solutions for the powertrain, aerodynamics and vehicle dynamics. Those achievements set it apart from the 458 Italia from which it is derived, to an extent unprecedented in the previous Challenge Stradale and 430 Scuderia special series.

The 458 Speciale’s performance is exceptional across the board, thanks to factors such as an extraordinary weight-power ratio of 2.13 kg/cv, 0-100 km/h longitudinal acceleration in 3 seconds, lateral acceleration of 1.33 g and a Fiorano lap time of 1’23”5. The 458 Speciale is an extremely entertaining car to drive even in less extreme situations, too: its unparalleled agility, in fact, is reflected in a response time to commands of just 0.060 seconds.

POWERTRAIN

The 458 Speciale’s mid-rear-mounted 4497 cc GDI engine is the most powerful naturally aspirated Ferrari 8-cylinder ever developed, punching out 605 cv at 9000 rpm and maximum torque of 540 Nm at 6000 rpm, while its record 135 cv/l specific power output is also the highest ever achieved by a naturally-aspirated road-going engine.

F1 technology transfer to the 458 Speciale was of fundamental importance to its development, including the production processes. The engine is produced in the factory’s in-house foundry using the same machinery and processes as employed by the F1 team for complex components with the extreme structural and dimensional characteristics needed for a naturally-aspirated engine capable of hitting 9000 rpm.

To achieve these results, Maranello’s engineers have maximised the 458’s V8 potential, carrying out detailed refinements to all the components to optimise combustion, volumetric and mechanical efficiency.

Maximum combustion efficiency is guaranteed by a highly evolved knock control system which senses the ionisation across the spark plug gap thereby optimising combustion across the entire rev range.

The other main challenge aside from boosting power was to improve torque across the entire power curve. This involved increasing the compression ratio to an exceptional 14:1, the highest value ever achieved by a naturally-aspirated V8, which was achieved by modifying piston geometries.

The fluid-dynamics of the combustion chamber were revised to optimise both the intake and exhaust phases. The intakes feature new geometry, both with regard to the manifolds and the cylinder heads, with shorter inlet ducts (-10 mm) in the former instance, and in the latter a higher valve lift (+5%).  A new cam profile not only increases valve lift but also helps reduce average pressure during the pumping cycle.

The 458 Speciale’s increased power and torque are also the result of redesigning various engine components and reducing internal friction. The pistons are made from a new material that reduces overall mass.New materials were also used for the con-rod bushings while specific heat treatment (DLC: Diamond-Like Carbon) on the piston pins makes for greater fatigue and wear resistance.  The crankshaft was also redesigned to optimise and improve lubrication of the main bearings in all conditions of use.

Around 8 kg was also slashed off the engine’s overall weight by the redesign of the intake (carbon-fibre plenums and air filter box as well as shortened inlet ducts) and exhaust (in aluminium) systems. Once again Ferrari drew heavily on its extensive F1 experience, particularly with regard to the intake system, which now has a new carbon-fibre plenum and filter box, new materials for the pistons and con-rod bearings.

AERODYNAMICS

One of the car’s main characteristics is new Ferrari-patented mobile aerodynamic solutions at the front and the rear of the car which ensure that different aerodynamic configurations can be adopted in cornering, where maximum downforce is essential, and on straights where, instead, drag must be reduced to a minimum.

The 458 Speciale has an excellent downforce (Cl) value of 0.53. Thanks to the aforementioned active aerodynamics, the latter does not penalise the Cd which is just 0.35.

Of particular note are the innovative solutions adopted at the front of the car, with two vertical flaps in the centre and the horizontal flap below them. At relatively low speeds, the vertical flaps are closed, channelling air into the radiators to guarantee the necessary cooling for the engine. However, at speeds in excess of 170 km/h, the flaps open, reducing the volume of air flowing into the radiators, thereby cutting drag. At speeds of over 220km/h the horizontal flap lowers to balance downforce between the front and rear axles, leading to a 20 per cent shift in overall downforce towards the rear.

The turning vanes at either side of the front bumper slow the air flow which increases downforce, thereby shifting the aerodynamic balance 4 per cent over the front. Thanks to their shape, the aerodynamic fins ahead of the rear wheels increase downforce very much in the same way as the front turning vanes.

The rear spoiler has a larger surface area and more pronounced shape which has improved the efficiency of the underbody, increasing downforce. Moving the position of the tailpipes also allowed a new diffuser to be designed which optimises the extraction capacity of the underbody.  The rear flaps have two different configurations: raised for high downforce and lowered to minimise drag. Sophisticated sensors and a specific algorithm allow the flaps to be lowered by as much as a 17° angle, thereby stalling the diffuser and reducing Cd by 3 points.

DYNAMICS

The 458 Speciale’s dynamic behaviour guarantees maximum driving emotions in all situations, allowing drivers to match and improve their own limits with ease and delivering an intense driving experience even at lower speeds.

Nimble and responsive, the car is at its best over really twisty routes with demanding switchbacks and camber changes. New technical features have not only improved the 458 Speciale’s lap time over single laps, but also the repeatability of that performance on subsequent laps without needing to be a professional driver, offering unprecedented levels of driving pleasure.

Side Slip Angle Control (SSC)

The 458 Speciale sees the introduction of Side Slip Angle Control (SSC) for more effortless car control on the limit, thereby greatly enhancing driver enjoyment.

Thanks to sophisticated new software, which computes lateral acceleration, yaw angle, steering wheel angle and speed,  SSC carries out instantaneous analysis of the car’s side slip angle, comparing it with reference data, thereby allowing smooth, controllable oversteer, and optimising both torque management (via F1-Trac traction control) and differential torque distribution between the two driven wheels (via the E-Diff electronic differential) for maximum vehicle response times.

With the Manettino set at RACE or CT OFF, the 458 Speciale will then make the most of available grip for improved acceleration out of corners, greater ease and control on the limit, and more consistent performance.

Also available on request is an advanced telemetry system which records data from track sessions which can then be accessed directly through the multimedia menu or via an external device such as an iPad or laptop. The system uses a series of high-precision GPS antennae installed in the car to pinpoint its position on a pre-loaded circuit or a recordable route. At the end of the session, the Virtual Track Engineer helps drivers analyse their performance, highlighting the main critical errors (e.g. braking too early or too late).

Braking system

To cope with the demands of the car’s increased performance, all of the components in the Brembo braking system have been evolved from the solutions introduced on the LaFerrari. The 458 Speciale sports Extreme Design calipers, new generation HT2 discs with a higher percentage of silicon, and smaller front pads made from HY hybrid material for improved heat dissipation which is also boosted by special channels in the bodywork and is crucial in extreme driving situations.  The result is shorter stopping distances (100 – 0 km/h in 31 m) without any compromises in weight, and more consistent performance under severe use.

Tyres and wheels

Part and parcel of the Speciale’s development included Michelin Pilot Sport Cup2 tyres which were specifically honed for it in an intensive collaboration programme involving lengthy track tests and simulator sessions.

Specially made for the 458 Speciale, they feature a compound obtained using specific additives to boost performance over a single lap in the dry as well as improving performance consistency over multiple laps. They also deliver 6 per cent more grip, which also translates into better grip even in the wet.

The forged 20” wheels feature a new design, resulting in a weight reduction of over 12 kg.

Suspension

Thanks to being very flat through corners, the 458 Speciale is extremely efficient and satisfying in faster, sharper, more challenging changes of direction. This is due partly to its Frequency-Shaped SCM-E (Frs SCM-E) dampers which have twin solenoids, new CPU and new software that modifies the magnetic field every millisecond. The result is a much faster response and more precise body control.

These technical features guarantee exceptionally fast response to inputs from the road or the steering (0.060 s) and mean the car can deliver 1.33 g of lateral acceleration, a combination that ensures a genuinely extraordinary experience behind the wheel. The car, in fact, responds instantaneously and is easy to drive on the limit in all types of situations.

Soundtrack

Like the rest of the car, the 458 Speciale’s soundtrack is both seductive and uncompromising, thanks to unprecedented intensity inside the cabin as well as outside. The position of the tailpipes lends the V8 the full-bodied low frequency soundtrack typical of Ferrari’s sportiest engines while the configuration of the silencers is designed to guarantee maximum intensity and exceptional clarity. The immense power and full-bodied nature of the sound inside the cabin were achieved by redesigning the inlet tract.

Gear-shift strategy

The F1 dual-clutch transmission now features a new control logic that delivers an even keener sense of urgency during gear shifts.  The car feels much sportier as it shifts up through the gears, with response time to commands more prompt than ever, thereby guaranteeing 40 per cent faster longitudinal acceleration with engine revs adapting 20 per cent more rapidly. Conversely with the Fast-Down Shift strategy, when down-shifting, the transient time required for engine revs to match the gear ratio is 44 per cent faster.

DESIGN

Exterior

Aerodynamic requirements guided the work of the Ferrari Styling Centre which collaborated on the project with Pininfarina to sculpt forms that are more performance-oriented than ever, balancing aerodynamic requirements while staying true to Ferrari’s aesthetic philosophy.

Most of the bodywork panels have been redesigned without modifying either the passenger cell or the signature design features of the 458 Italia. The thickness of the glass used has been reduced to cut weight, while the rear windscreen is now a Lexan© panel.

The composite bumpers have been redesigned and the front bonnet now features two deep air outlets to channel away the air exiting the radiator.

The air outlets to the side of the headlight assemblies now also include three louvers reminiscent of Ferraris of the past, from the 250 GTO to the F40. The rear features a Kamm tail with a full-width grille and twin exhausts.

Interior

The cockpit features a distinctly racing-inspired atmosphere, with simplicity the order of the day. Lightweight exclusive technical materials, such as Alcantara and carbon-fibre, are used extensively but meld seamlessly with the superb craftsmanship and sophistication typical of all Ferrari interiors, courtesy of exclusive details, contrasting hand-stitching, aluminium triangular-pattern tread plates and sills with a pewter grey finish, and particularly fluidly sculpted door panels.

The glove compartment on the dash has been replaced with convenient odds and ends pockets on the tunnel and doors. This has significantly streamlined the volumes under the dash adding practical padding at knee level.

Onboard ergonomics are absolutely functional with all controls clustered around the driver and on the steering wheel. This concept has been further enhanced by the use of the iconic bridge, a carbon-fibre wing that extends over the central tunnel section, putting the F1 gearbox controls at an ideal angle to the driver. There is also a comfortable leg rest cushion on the driver’s side of the tunnel.

The Sabelt seats have carbon-fibre shells and boast excellent side bolstering thanks to an ergonomic design which also helps contain weight.   The shoulder-rests are trimmed in Alcantara for improved grip while seated and the backrests are padded with a breathable 3D fabric to guarantee excellent air circulation and comfort.  

The 458 Speciale is being unveiled in an unusual red livery featuring a blue and white central stripe inspired by the historic NART (North America Racing Team) livery which is available on request. Characterised by five exceptionally slender spokes, its newly designed forged wheels are available in gold, dark grey and black.

458 Speciale Technical Specifications

Engine

Type V8, 90° - Direct Injection - Dry Sump
Bore and stroke 94 x 81 mm (3.7 x 3.2 in)
Overall displacement 4497 cm3 (274.4 cu in)
Compression ratio 14.0:1
Maximum power** 445 kW (605 cv) at 9000 rpm
Specific power output 135 CV/l (1.62 kW/cu in)
Maximum torque 540 Nm (398 lb ft) at 6000 rpm
Maximum revs (limiter) 9000 rpm
Dimensions and weight

Length 4571 mm (180.0 in)
Width 1951 mm (76.8 in)
Height 1203 mm (47.4 in)
Wheelbase 2650 mm (104.3 in)
Front track 1679 mm (66.1 in)
Rear track 1632 mm (64.3 in)
Dry weight*   1290 kgf  (2844 lb)
Kerb weight* 1395 kgf (3075 lb)
Weight distribution 42% front, 58% rear
Weight/power ratio 2.13 kg/cv
Fuel tank capacity 86 l (22.7 US gallon)