John Lennon’s first car, a 1965 Ferrari 330GT, is heading to a Bonhams auction at the Goodwood Festival of Speed on July 12, 2013.

Finished in Azzuro blue paint, the classic Ferrari also has a matching blue interior and was priced at a little over $10,000 (£6,500) in February 1965. Lennon would own the car until October 1967, putting on over 20,000 miles in the 330GT.

The vehicle has since been restored to its original state and is expected to fetch between $275,000 to $340,000 at the auction. It is one of only 500 of its type built and will come with its original DUL 4C registration restored by the DVLA. Extensive documentation of its history will also come with the vehicle, and a correspondence with Lennon is just icing on the cake.

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Ferrari President Luca di Montezemolo and Tesla CEO Elon Musk should be locked in a windowless room together with cameras rolling.

di Montezemolo said today that Ferrari will “never build an all-electric car” as long as he is the chairman of the company. In much the same vein, he also deflated any notion that Ferrari will build an SUV, sedan or anything to dilute the company’s exclusive image.

“We will be adding new models to our range in the future but only in the market position in which we have a strong heritage,” he said.

SEE ALSO: Ferrari Looks to Bespoke Demand for Increased Profit

Instead, he pointed to Maserati as the brand customers looking for a sedan or smaller and less expensive car should turn to.

Yesterday, reports revealed that Ferrari plans to rely on bespoke parts to continue increasing revenue for the brand. Today, the automaker revealed that it will scale back production from the 7,300 units it built in 2012 to fewer than 7,000 this year.

[Source: AutoExpress]

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Ferrari Chairman Luca di Montezemolo is looking to increase the exclusivity of the Italian automaker’s offerings rather than growing volume to protect its margins and residual values for its customers.

The new LaFerrari was sold out before it was even unveiled at the 2013 Geneva Motor Show, so demand for exotic Ferraris isn’t exactly waning. And with record sales last year of 7,318 units, Ferrari is in a good position for future growth.

But Montezemolo wants more exclusive models for Ferrari, perhaps taking a page out of Lamborghini’s book. The automaker’s revenue per unit is growing thanks to a long list of options buyers can now add to their exotics – on average, a customer is adding over $32,000 in options (25,000 euros). Then there’s the Tailor-Made program that Ferrari offers, where the average customer is spending an additional $64,000 (50,000 euros).

SEE ALSO: More Extreme LaFerrari on the Way

The more personalized and unique the Ferrari is, the higher its residual value is over time. So rather than boosting production and sales, Ferrari is looking to boost profit margins by offering more exclusive vehicles to their customers. As for one-offs and special projects, the Italian automaker has only built about 10 of these over the years, many of which collectors don’t want to make public.

Montezemolo wants to keep Ferrari’s operating margin at around 15 percent. Last year, it operated at a 14.4-percent margin.

[Source: Automotive News Europe]

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After an expansion of the Ferrari Classiche division in Italy, the exotic car maker is now considering further growth of its classic car workshop, with the U.S. as a front-runner for a second facility.

“We are … considering opening a subsidiary in the United States,” said company boss Luca di Montezemolo in a recent interview, “probably in California.”

Restoration of classic Ferraris is becoming a larger part of the company business and based on current and past sales the U.S. makes the most sense.

“The U.S. is our largest market not only in terms of annual sales but also when it comes to the total number of Ferrari models on the road,” said di Montezemolo. While larger projects would have to be carried out in Italy, “For some minor restorations, a workshop in California would save the significant cost of shipping the car back and forth to Maranello.

The Ferrari Classiche workshop restores past Ferrari models to their original showroom condition and certifies its work to not only guarantee quality, but also authenticity.

[Source: AutoNews Europe]

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Perhaps Ferrari took a few notes at the 2013 Geneva Motor Show earlier this year, where arch-rival Lamborghini unveiled its extreme Veneno, thereby stealing some of the spotlight the LaFerrari.

Though the Veneno is far from a readily-available production car, with only three being built for customers, its radical styling clearly raised more eyebrows than the LaFerrari. On the other hand, Ferrari is producing 499 LaFerraris for the public, making it a true production vehicle compared to the Veneno’s extremely limited quantity of just three.

SEE ALSO: Ferrari LaFerrari Video First Look

But Ferrari isn’t going to just sit idle. The Italian automaker is planning an even more extreme LaFerrari variant, one that will be extremely rare, likely less than 10 units. Unfortunately details are sparse on this more extreme LaFerrari, but the car’s Chief Designer, Flavio Manzoni, confirmed that one is coming.

Currently the LaFerrari is powered by a V12 hybrid system with 950 hp and weighs around 2,767 pounds dry. It would be incredible if Ferrari was able to shed even more weight, bringing the extremely rare LaFerrari special edition to around 2,220 pounds.

GALLERY: LaFerrari

[Source: Autocar UK]

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Hybrid technology is improving at an impressive rate and is continuing to find its way into more and more vehicles.

A significant number of new and exciting hybrids are coming to market this year and early next. No, these aren’t all Prius wannabes. There are some interesting cars on the way, like the ultra efficient VW XL1 seen above. Check out some of these hybrid luxury sedans, rugged crossovers and even a pair of supercars.

If you’re not yet convinced to hop on the hybrid bandwagon, this should help. And if you already are, but haven’t found the right gas-electric vehicle for you, perhaps it’s coming soon to a dealership near you.

Timepiece manufacturer Hublot continues building on its relationship with Ferrari, releasing a LaFerrari-inspired MP-05 Tourbillon.

The LaFerrari debuted earlier this year at the 2013 Geneva Motor Show as the Enzo successor, bringing a new generation of supercar performance from the Italian exotic automaker. The MP-05 is manufactured as a tribute to the LaFerrari and has a 50-day power reserve and is also the watch with the most watchmaking components created to date by Hublot with 637 parts.

SEE ALSO: LaFerrari First Look Video

The timepiece has a very unique design and style to it, one that is fitting with how unique and exotic the LaFerrari is – despite its not-so-original name. It features a complex sapphire crystal with an open case-back made from black PVD titanium. At the top is a titanium and carbon insert in its center, showing off the winding crown.

The watch will be even more rare than the LaFerrari, with Hublot manufacturing only 50 numbered pieces.

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GALLERY: Hublot MP-05 Ferrari LaFerrari Watch

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A police fleet with a Lamborghini Aventador wouldn’t be complete without a Ferrari counterpart; and that’s exactly why the Dubai Police Fleet has added a Ferrari FF.

Having recently added an Aventador police car to its patrol fleet, the Dubai Police just released photos of its newest exotic addition, a Ferrari FF. The special police FF which runs up to around $540,000, has been added to the police fleet in an attempt to “enhance security on the roads in accordance with highest international standards and technical developments.”

SEE ALSO: Lamborghini Aventador Police Car Joins Dubai Patrol Fleet

The police fleet unveiled its latest addition on Twitter, showing off the Ferrari FF in a white and green theme – the official colors in the Emirates. The FF is powered by a V12 engine with 660 hp and 503 lb-ft of torque and hits 60 mph in 3.7 seconds. Not quite Aventador territory, but more than enough to catch the bad guys.

GALLERY: Dubai Police Ferrari FF

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Despite having a dumb name, the LaFerrari is nothing short of awe inspiring.

Or at least you would imagine it to be. First-hand knowledge about driving the car remains reserved for a special few. The 950-hp Italian supercar uses a hybrid KERS system – a first for Ferrari production cars – and will only be built 499 times.

SEE ALSO: LaFerrari Supercar ‘Defines Excellence’ Says di Montezemolo

Even if you’re not going to drive one, it’s probably hard not to wonder what it’s like. The truth is, most owners probably won’t ever actually appreciate what their LaFerrari can do. Just like drinking expensive booze, it takes a special person to appreciate the nuances.

Enter two-time world champion F1 driver Fernando Alonso and driver for Scuderia Ferrari. He recently got the chance to drive one. The smile says it all.

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By now, if you have any sort of love for automobiles, you’ve seen the Ferrari LaFerrari’s official launch video; and if you haven’t, you better check it out first.

If you have, then you’ll be satisfied to hear that the Italian exotic automaker has released a behind-the-scenes video to give us even more LaFerrari action.

SEE ALSO: LaFerrari is Le Sexy in Official Launch Video

According to the Italian automaker, the LaFerrari is “the maximum expression of excellence from the Prancing Horse in the special limited series.” It’s a shame that its name isn’t exactly a maximum expression of anything other than hilarity.

Nonetheless, the LaFerrari is an exquisite machine and truly is a work of art. Watch the ‘Behind the Scenes’ video below.

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GALLERY: Ferrari LaFerrari

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Jim Glickenhaus has announced that he’ll be working on a one-off Ferrari P33, the successor to the Ferrari P4/5 that he originally commissioned in 2006.

The P33 will be constructed by Scuderia Cameron Glickenhaus (SCG), the race team Glickenhaus operates and competes under with his P4/5 Competizione. The new car’s chassis and body will be constructed entirely out of carbon fiber and is aiming to weigh in at around 1,600 pounds and will be significantly smaller than the P4/5.

SEE ALSO: Introducing The Ferrari P4/5 Competizione, In All Its Carbon Fiber, Race-Liveried Glory

Power will be brought to the wheels through a twin-turbo V6 engine, though it hasn’t been announced where or whom the powerplant will be sourced from. The aim is to produce around 500 hp, making the P33′s power-to-weight ratio comparable or better than most supercars in the world.

To really set it apart from the competition, SCG is hoping to implement a sliding cockpit system rather than incorporating traditional doors on the car. The sliding cockpit system will be similar to a concept car Pininfarina developed for the 1970 Geneva Motor Show, the 512 S Modulo.

If all goes well, the P33 will be unveiled at the 2015 Geneva Motor Show.

[Source: Ferrarichat.com]

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If the rumors are true, Ferrari is finally starting to take orders for the 458 Monte Carlo which sits above the Italia.

According to Ferrari clients making claims on enthusiast forum TeamSpeed, Ferrari dealers are open. A Ferrari spokesperson couldn’t offer any comment on the rumor.

The same users are saying that there will be a private preview of the car later this year before a debut in Frankfurt later this year. Should that timing prove to be true, it could hint at the car being available in early 2014, although none of that information is confirmed.

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[Source: Teamspeed]