FCA Is Selling Ferrari
It seems that the reason why Luca Di Montezemolo left Ferrari has just come out: in a recent press release, Fiat Chrysler Automobiles announced its intention to spin the Italian manufacturer out of its empire.
According to FCA’s (and Ferrari’s) president Sergio Marchionne, this separation will allow the Prancing Horse to retain its Italian heritage and unique position in the market.
90% of Ferrari’s shares will be split among FCA’s shareholders (including the Agnelli family, which owns the majority of FCA), but the remaining 10% will be sold on stock markets. According to Mr. Marchionne, we can expect those shares to be sold on American markets.
It may be hard to predict what changes this will have on the brand’s future, but we now know exactly what Ferrari’s last boss meant when he said that the Maranello manufacturer was becoming American, and that it marked the end of an era.
It’s probable that Marchionne will use the profits from the shares to fund his 5-year plan, which is expected to cost billions of dollars to develop new factories and products.