The agnelli Family and Piero Ferrari join forces to vote as a block in the newly listed Ferrari Automobile.

The top two investors in Ferrari have signed a shareholder pact giving them a total voting power of nearly 50 percent to keep firm grip on the sports car maker after it separates from Fiat Chrysler Automobiles.

Under the pact Exor, the Agnelli family investment company, and Piero Ferrari, son of the sports car maker founder, will consult each other over issues to be discussed at general shareholders meeting.

In addition, in the case of Ferrari shares transferring to other investors, Exor will have a pre-emption right to buy the shares while Piero Ferrari could exercise a right of first offer, the Agnelli family investment company said in a statement.

"Now that Ferrari is beginning a new chapter in its story, our two families have signed this agreement in order to provide all the stability necessary to guarantee Ferrari's strength and its uniqueness for the future," Exor's Chairman and CEO John Elkann said.

After the separation from Fiat Chrysler, Exor will own approximately 23.5 percent in the sports car maker, equal to 33.4 percent of voting rights, while Piero Ferrari will have 10 percent of the capital, or 15.4 percent of the voting rights.

The agreement will have an initial duration of five years.

FCA created a Dutch-registered holding company for Ferrari and listed its shares on Wall Street in October. Ferrari will debut on Milan bourse on Jan. 4 in a secondary listing.

Bids are now being taken for the Annual Motoring BEN BALL

• Bid for Land Rover Discovery Sport HSE Luxury SD4 Auto
• Pre-bid on Silent Auction Lots before the Ball

With just days to go, BEN the automotive industry charity has announced its Main and Silent Auction prizes that will be up for grabs at BEN Ball 2014. This year there will be the opportunity for anyone, whether attending or not, to pre-bid on the lots before the event takes place on 10^th December at the Grosvenor House, London.

To pre-bid on the Auction lots please visit www.bensilentauction.org.uk.  Bids can be placed until midnight on Tuesday 9^th December and carried forward to the evening of the Ball.  The only way to ensure your bid is the highest is to be there on the night – tickets are still available.

During the evening an array of extraordinary auction prizes are on offer across the Main and Silent Auctions and here is a taster of what is in store:

• Enjoy a Ferrari California T for the weekend
• One Day Yacht Charter to Sail the Solent for 6 people
• The Bangers4BEN ‘Dog’ Car A.K.A. a 2002 Suzuki Ignis
• Private Box for Kaiser Chiefs Live at The O2, London – 18 tickets to an exclusive suite
• Honda CRF450R Black Special Edition Off Road Bike
• Land Rover Discovery Sport HSE Luxury SD4 Auto

Kelly Neal, BEN’s Events & Exhibitions Manager, said: “Thank you to everyone who has donated prizes this year, we have a whole host of exceptional lots to bid on.  There is something for everyone and many of the prizes may even resolve your Christmas present dilemmas.  Last year raised an outstanding amount for BEN and we hope to go one step further this year…happy bidding!”

NHTSA Fines Ferrari $3.5 Million for Failing to Submit Early Warning Reports

The U.S. Department of Transportation's National Highway Traffic Safety Administration (NHTSA) today announced that Ferrari will pay a $3.5 million civil penalty and has been ordered to comply with NHTSA oversight requirements as set forth in a Consent Order for failing to submit early warning reports (EWR reports) identifying potential or actual safety issues. Federal law requires large manufacturers and affiliates of large manufacturers to submit comprehensive EWR reports on a quarterly basis, in order to provide notice to the Department of potential safety concerns. 

Ferrari, an affiliate of Chrysler, admitted that it violated the law when it failed to submit required reports to NHTSA over a three-year period, and failed to report three fatal incidents. Until Fiat (which includes Ferrari since 2011) acquired Chrysler, Ferrari qualified as a small volume manufacturer and was not required to file quarterly EWR reports. However, while Ferrari was not required to file quarterly reports, it must report fatal incidents nonetheless.

"There is no excuse for failing to follow laws created to keep drivers safe, and our aggressive enforcement action today underscores the point that all automakers will be held accountable if they fail to do their part in our mission to keep Americans safe on the road," said U.S. Transportation Secretary Anthony Foxx.

In addition to the civil penalty, the Consent Order requires the automaker to improve its processes for EWR reporting, to train personnel on the EWR requirements, to communicate these improvements to NHTSA, and to retroactively submit all EWR reports. The Consent Order is immediately enforceable in federal court if any terms are violated.

"The information included in early warning reports is an essential tool in tracking down dangerous defects in vehicles," added NHTSA Deputy Administrator David Friedman. "Early warning reports are like NHTSA's radar, helping us to find unsafe vehicles and make sure they are fixed. Companies that violate the law and fail to comply will be subject to comparable swift NHTSA enforcement action."

EWR reports are required under the Transportation Recall Enhancement, Accountability, and Documentation (TREAD) Act of 2000. The law requires quarterly reporting of: production information; incidents involving death or injury; aggregate data on property damage claims, consumer complaints, warranty claims, and field reports; and, copies of field reports involving specified vehicle components, a fire, or a rollover.

REPORT HERE

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.”