4dr Sdn 300c Rwd Low Miles Sedan Automatic Gasoline 5.7l V8 Sfi Ohv 16v Gloss Bl on 2040-cars

Auto blog

Ferrari stock demand exceeding supply

As with the Ferrari cars, so it is with shares in the company's initial public offering: When Ferrari has a limited quantity of something to sell, demand far outstrips supply. Investors told banks weeks ago that bids for the $1 billion in stock – up to 18.89 million shares – would exceed the number of shares available over the entire expected range of $48 to $52. Ten percent of the company is going on the block' Bloomberg reports that the books close on the IPO on Monday at 4:00 pm. The final price will be set on Tuesday, and trading will begin Wednesday under the ticker symbol RACE on the New York Stock Exchange. Piero Ferrari, the son of Enzo Ferrari, will hold onto the ten-percent stake he currently has in the company. Fiat Chrysler will disburse the final 80 percent to its investors sometime in 2016. In combination with spinning Ferrari off from its parent company next year, the share sale is expected to put $4 billion into Fiat Chrysler coffers, which will be used to help fuel the growth of Alfa Romeo, Jeep, and Maserati. Assuming all goes to plan, Bloomberg says Ferrari will be valued at roughly $12 billion, a number $1 billion greater than the valuation Fiat Chrysler CEO Sergio Marchionne put on Ferrari earlier this year and higher than the brand's own internal assessment. Related Video:

Toyota tops Consumer Reports best, worst used car values

We often mock Toyota for building boring, soulless cars, but a new study by Consumer Reports suggests that regardless of whether that's true, the company has some of the best used cars on the market. In its report on used cars from 2004-2013, the Japanese automaker had 11 vehicles among its brands on the list - more than any other automaker.
CR breaks the list down by cost and vehicle size, and Toyota has at least one entry at every price point and in nearly every segment. To score a recommendation, a vehicle had to perform well in the magazine's initial tests and score above-average reliability results. It also tried to only suggest cars with electronic stability control. Of the 28 recommended vehicles, Honda/Acura had the second most mentions at six, and Ford, Hyundai and Subaru managed two each.
The Detroit brands also made it to the list, but not in a positive way. Consumer Reports compiled a list of 22 vehicles it wouldn't recommend because "they have multiple years of much-worse-than-average overall reliability." General Motors had the most unrecommended models on the list at six, but Chrysler and Ford weren't far behind, with five cars each from their brands not making the grade. The full list of recommendations is available on CR's website.

Fiat Chrysler's London offices will be small, with financial focus

Fiat Chrysler's decision to locate its new corporate headquarters in jolly old London won't herald a sprawling relocation effort. Instead, it's very likely that the FCA outfit will be a small one, primarily focused on finance.
The report comes from Automotive News Europe, which claims FCA's London office will employ about 50 people with backgrounds in finance. CEO Sergio Marchionne and Fiat Group Chairman John Elkann will both have offices at the corporate headquarters, as well.
ANE cites an anonymous source that claims the people employed at the London office will focus primarily on treasury operations. It's unlikely that FCA will take on any additional employees specifically for its UK offices. That said, FCA isn't likely to downsize either its Turin or Auburn Hills offices once London comes online.