Fiat Chrysler may consider loyalty program for Ferrari spinoff

Article by Christian A., on December 2, 2014

Fiat Chrysler Automobiles will consider a loyalty program that hikes voting power of Ferrari shareholders when the carmaker spins off the premium sports car maker in 2015, according to FCA chairman John Elkann. A similar scheme was deployed Fiat merged into FCA this year, allowing it to rewarding its own long-term investors while benefiting controlling shareholder Exor.

Elkann is a scion of the Agnelli family who also leads Exor. FCA chief executive Sergio Marchionne disclosed in October plans to spin off Ferrari, sell a 10-percent stake in the sports carmaker through a public offering, and distribute FCA's remaining stake to its shareholders.

The spinoff would see the Agnelli family emerging as the largest shareholder in Ferrari. Should FCA proceed with the loyalty scheme, the Agnelli family could further control and expand its influence on Ferrari's future strategy.

When the announcement was made, speculations arose again on possible plans by the Agnelli family to create a cluster of luxury brands centered around Ferrari to rival groups such as France's Kering and LVMH.

Marchionne quipped in October that carmaking is "almost incidental" to Ferrari, saying that he sees the brand more as a luxury stock. Elkann, however, dismissed the idea of creating a luxury conglomerate, saying that plans entailed having Ferrari develop its own growth strategy.

Topics: fiat, chrysler, ferrari, ipo

If you liked the article, share on:

Comments

Recommended

Kia is taking things a step further with the new Kia Stinger, which they first introduced at the 2017 Detroit Auto Show. With the specs given to us by the...
by - June 25, 2017
Earlier this week, Nissan revealed a teaser of the new 2018 LEAF’s interior, giving us an idea of what the electric vehicle has to offer. The company released a video...
by - June 25, 2017
The primary suggestion of a 4x4 ute from French company Peugeot was first revealed in 2016. Fifteen months later, the production version is launched. Now, Peugeot is not shying away...
by - June 24, 2017
The new Jaguar E-Pace crossover will soon hold its official launch on July 13 and is expected to arrive at the showrooms by early next year. It couldn’t have come...
by - June 24, 2017
As prices of the original Shelby Cobra have skyrocketed into astronomical proportions, there are firms like Superformance that serve replicas to consumers who demand the same levels of performance at...
by - June 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries