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Fiat Chrysler to spin off luxury brand Ferrari

2014-10-29 19:16:37| Automakers - Topix.net

Fiat Chrysler Automobiles announced Wednesday it will spin off sports car maker Ferrari into a separate company, a move to unlock the luxury brand's value and distinguish it from its mass-market parent. The spinoff aims to raise money to support the newly merged carmaker's plans to invest 48 billion euros over five years to compete with global giants Toyota and Volkswagen.

Tags: brand luxury spin ferrari

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