Fiat CEO Sergio Marchionne has survived a car crash in canton Solothurn unscathed, but the Ferrari 599 GTB Fiorano he was driving is a write-off. The former head of Swiss firms SGS and Lonza rear-ended another car on the A1 motorway according to reports in the Blick tabloid and the Aargauer Zeitung newspaper. Local police, following normal practice, refused to name anyone, only stating that one of the drivers was a 55-year-old living in tax haven Zug. The Ferrari was travelling at approximately 100 kilometres per hour. The police believe the car had to slow down because of a traffic jam. But despite emergency braking, Marchionne was unable to stop his vehicle in time. The top-line Ferrari, estimated to cost SFr317,000 ($275,000) was so badly damaged that it now only has scrap value. Fiat owns a majority stake in Ferrari.
Posted on Nov 3, 2007 by swissjourno