Today Ferrari laid to rest rumors that it is developing a successor to the Dino, a so-called "cheap" Ferrari... sort of. In a nutshell, a member of management (who is that guy, anybody?) made it clear that the automaker is "not developing a cheap Ferrari." Whether that means the idea of a new Dino is dead or just that no Ferrari should ever be considered cheap is up for debate.

Our transcript of his remarks, deciphered through a thick Italian accent, can be read after the jump.

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"There have been rumors about a Dino. I want to take this opportunity at the Los Angeles Auto Show to say that we are not developing a "cheap" Ferrari. Our ideal is to design and continue to perform in doing and manufacturing top level cars, high performances, and this is what we will continue to do."