Fiat Chrysler Automobiles is shedding itself of Ferrari
Fiat Chrysler Automobiles, FCA, will hold a public stock offering to sell off 10% of Ferrari and dole out the remaining 80% of the company to current shareholders.
Piero Ferrari will hold onto his 10%.
Michigan Radio's automotive reporter Tracy Samilton discussed this sale with us.
Samilton says that about 7,000 Ferraris are made a year, which along with their price, gives the vehicle an “unattainable mystique.”
The dispute over stretching that number to make more sales is a contributing factor to the split between FCA and Ferrari.
Samilton notes that the Ferrari stock current shareholders will receive will be worth more than Fiat Chrysler stock.
*Listen to our interview with Samilton above.