John Elkann, chairman of Ferrari and Stellantis, has agreed to perform one year of community service and jointly pay €183 million (£159 million) to Italian tax authorities, bringing an end to a high-profile inheritance tax dispute involving one of Italy’s most influential families. The agreement, announced by prosecutors on Monday, resolves allegations that Elkann and…
Ferrari has launched a new initiative asking its owners and fans to help identify and report counterfeit products, from cars to merchandise, in an effort to maintain the authenticity and value of the brand. Classic Ferraris are among the most valuable cars globally, sometimes fetching tens of millions of dollars. This high value has attracted…
BYD, the Chinese automaker recently crowned as the world’s leading electric vehicle seller, has launched its latest innovation in the automotive market: the all-electric Yangwang U9 supercar. With nearly 1,300 horsepower under the hood, this new entry is poised to rival established luxury brands like Lamborghini and Ferrari. Featuring four electric motors and all-wheel-drive capability,…
An intriguing piece of racing history, in the form of a weathered and battle-worn 1954 Ferrari Mondial Spider Series I, fetched a remarkable $1.9 million at an auction hosted by RM Sotheby’s in California. While the price tag might raise eyebrows, delving into the context reveals a story that is more than just a financial…
