Ferrari exec says no Dino in the works

Ferrari today shot down rumors that it was readying a new model positioned below the $170,000 F430 coupe. Speaking at a press conference today at the Los Angeles auto show, General Manager Amedeo Felisa directly addressed recent rumors in the automotive press about a new Dino.

He said the company has absolutely no plans for a "cheap" Ferrari. Felisa made it clear the company would continue to compete in its current markets, with no plans for high-volume or modestly-priced sports cars.