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Ferrari and FCA are officially separated

It's been a long time in the making, but it's officially happened: Ferrari is no longer part of Fiat Chrysler Automobiles. Following the Italian automaker's initial public offering, it has officially split off from its former parent company. As part of the spin-off, FCA's stakeholders will each receive one common share in Ferrari for every ten they hold in Fiat Chrysler. Special voting shares will be distributed in the same proportions to certain shareholders as well. Those shares being distributed will account for 80 percent of the company's ownership. Another ten percent was floated as part of the company's IPO, while the remaining 10 percent is held by Enzo's son Piero Ferrari (pictured above at center), who serves as vice chairman of the company. The shares will continue to be traded under the ticker symbol RACE on the New York Stock Exchange, and will begin trading this week as well under the same symbol on the Mercato Telematico Azionario, part of the Borsa Italiana in Milan. Since the extended Agnelli family headed by chairman John Elkann (above, right) holds the largest stake in FCA, expect it to continue controlling the largest portion of Ferrari shares as well. Between them, nearly half of the shares in the supercar manufacturer – and we suspect a little more than half of the voting rights – will be controlled by the Agnelli and Ferrari families, who are expected to cooperate to ensure the remaining shareholders don't attempt a takeover of the company. Similar to its former parent company, which operates out of Turin and Detroit, the Ferrari NV holding company is nominally incorporated in the Netherlands, but the automaker will continue to base its operations in Maranello, Italy. That's where it's always been headquartered, on the outskirts of Modena. For the time being, Sergio Marchionne (above, left) remains both chairman of Ferrari and chief executive of FCA – a position to which he is not unaccustomed, having previously headed both Fiat and Chrysler before the two officially merged. Related Video: Separation of Ferrari from FCA Completed LONDON, January 3, 2016 /PRNewswire/ -- Fiat Chrysler Automobiles N.V. ("FCA") (NYSE: FCAU / MTA: FCA) and Ferrari N.V. ("Ferrari") (NYSE/MTA: RACE) announced today that the separation of the Ferrari business from the FCA group was completed on January 3, 2016. FCA shareholders are entitled to receive one common share of Ferrari for every 10 FCA common shares held.

2017 Chrysler Pacifica Hybrid scored 84 MPGe in government testing

The 2017 Chrysler Pacific, in non-hybrid form, was already at the top of the minivan heap in terms of EPA-rated fuel economy. Now the government agency has released its official test numbers for the Pacifica Hybrid, and they're looking pretty good. The non-hybrid Pacifica achieved 28 highway, 18 city, and 22 combined miles per gallon, which compared favorably to the 2016 Honda Odyssey's 28/19/22 and Nissan Quest's 27/20/23 ratings. You can read more about the regular Pacifica's scores right here. But none of these vans compare to the Pacifica Hybrid, which is incidentally the only hybrid in the class. FCA claims that the EPA's numbers are even better than the anticipated 80 MPGe, although we can't speak to whether that's an honest admission or a too-convenient claim. But there's no denying that the official rating – 84 MPGe – is impressive. If you aren't familiar with the MPGe rating, no worries. It's not as straightforward as conventional EPA MPG ratings, but a layperson can understand how it works. MPGe stands for miles per gallon equivalent, and measures fuel economy based on the energy content of a gallon of petroleum-based gasoline. For those who like formulas, the Automotive X Prize once defined MPGe as (miles driven) / [(total energy of all fuels consumed)/(energy of one gallon of gasoline)]). As for a conventional rating, the EPA only provides a combined city/highway number on the Monroney sticker, and an FCA spokesperson told us that the rating for the Pacifica Hybrid will be 32 MPG. This represents the hybrid working as normal, not in EV-only mode. It's also an improvement of almost 10 MPG over the combined ratings of the top three conventional minivans in the segment, including the non-hybrid Pacifica. Range is also fantastic. The EPA rated the total EV-only range as 33 miles, and the overall combined range at a staggering 566 miles. And that's from a fuel tank that's just 17 gallons (compared to the 19-gallon tank in the conventional Pacifica, which nets it a 418-mile EPA-rated range). FCA is going to extraordinary lengths to credit its eFlite transmission-generator unit, which can supply electric power to the front wheels if necessary. It's a piece of equipment that represents a substantial engineering investment, and apparently that's all paid off. Chrysler tells us that the Pacifica Hybrid will go on sale next month, and that dealers will get more volume in Q1. Related Video: This content is hosted by a third party.

NHTSA preparing to wallop FCA, automaker 'failed to do its job'

As embattled the National Highway Traffic Safety Administration may be, but that certainly doesn't mean it isn't willing or able to put the smack down on automakers that violate its recall procedures. Following a public hearing on Thursday, the government safety arm is preparing what will likely be some very serious punishments for Fiat Chrysler Automobiles. FCA stands accused of mishandling 23 individual recalls covering some 11 million vehicles since 2013, with NHTSA claiming the Italian-American automaker kept it "in the dark," failing to notify the government of safety defects. Uncle Sam also alleges that FCA failed to notify consumers of important safety notices and didn't provide a steady supply of replacement parts. For these charges, the automaker could be fined up to $35 million per recall, which could mean a maximum of $805 million in fines. FCA could also be forced to buy back the unrepaired vehicles. "We have serious concerns with Fiat Chrysler notifications to owners and to NHTSA about its recalls. In every one of the 23 recalls, we have identified ways in which Fiat Chrysler failed to do its job," Jennifer Timian, the head of the Office of Defects Investigation, said during the FCA hearing, The Detroit News reports. The company also "repeatedly failed to provide NHTSA with other critical information about its recalls, including changes to the vehicles impacted by the recalls and its plans for remedying those vehicles." Fiat Chrysler, for its part, didn't really fight back during its hearing, although Scott Kunselman (shown above during the hearing), the senior vice president of vehicle safety and regulatory affairs at FCA, did tell The News that, "We absolutely had no mis-intent." "The plan is to move forward," Kunselman said, adding that the company has "fallen short," and that "some of the things we've done were sloppy." NHTSA administrator Mark Rosekind told The News that the regulator would issue its sanctions by the end of July, adding that he saw no way that FCA could avoid punishment.