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Toledo continues fight for Jeep Wrangler production, despite mayor's death

Where will the next-generation Jeep Wrangler be built? That's an open question, but it's one that the city of Toledo, OH desperately wants to be the answer to. The city suffered a major blow, though, with the death of Mayor Michael Collins earlier this month. Collins had been the city's biggest champion during talks with Fiat Chrysler Automobiles, before suffering a fatal heart attack on Feb. 6. But Collins' tragic death isn't dampening the city's desire to carry on as the home of the Wrangler. "The mayor's passing is tragic. But on Monday, when I came to work, I knew exactly what I needed to do and exactly what needed to be done," the city's director of development, Matt Sapara, told the Detroit Free Press. According to the Freep, Sapara said Toledo and the state of Ohio have delivered an outline of a development plan that would give FCA the ability to buy an extra 100 acres to expand the factory. This is to help accommodate FCA's targeted output of 300,000 to 350,000 next-generation Wranglers, up from the 240,000 the factory can make now. "Our target in the proposal is to provide a way to increase the production capacity to a number that allows Fiat Chrysler to meet its business model," Sapara told the Freep, adding that the land could be available later this summer. FCA, meanwhile, has shown a somewhat ambivalent attitude towards Toledo production, with CEO Sergio Marchionne openly discussing the pros and cons of continuing to build the Wrangler south of the Michigan border. "We are going to take a very hard look at this without ignoring what these guys have done," Marchionne told the Free Press at last month's Detroit Auto Show, adding that he'd like to keep production there, provided the cost of retooling is comparable to relocating to another facility. Related Video:

FCA seeks partner to keep building Dodge Dart, Chrysler 200

Mere weeks after FCA announced it was shutting down production of the Dodge Dart and Chrysler 200, new hope emerges to give the sedans a stay of execution. Speaking at the Geneva Motor Show last week, Sergio Marchionne said that the company was looking for a partner "who is better at it than we are and who has got capacity available" in order to continue building the models on its behalf. "There are discussions going on now," said Marchionne, according to Motor Trend. "I think we will find a solution. We continue to talk. It's both a technical solution and an economic one. We need to find a solution that works economically." Contracting vehicles to be manufactured offsite is more common practice among European automakers than it is with American ones. Chrysler's former patron Mercedes, for example, has the G-Class built for it by Magna Steyr in Austria, the A-Class by Valmet in Finland, and the R-Class by AM General in Indiana (even though it's no longer sold in the US). This arrangement would, on the surface at least, appear more similar to the deal that Toyota struck with Mazda to build the Scion iA, drawing on the contractor's expertise and capacity to build the small sedan on the client company's behalf. Only rather than basing a new model on one of the partner's existing ones, this deal would ostensibly continue building FCA models on FCA platforms using FCA components. We'll have to wait to find out with whom FCA strikes up the manufacturing deal, but we wouldn't be surprised to see Marchionne turn to a partner he already knows. The company is, after all, at the center of an intricate web of joint ventures and manufacturing contracts. The Fiat 124 Spider, for example, is built by Mazda. The Fiat Sedici that preceded the 500X was built by Suzuki. Models like the Dodge Stealth and Eagle Talon were built in Illinois at the Diamond-Star Motors joint venture before Mitsubishi took it over altogether. And Dodge continued selling the Mercedes-made Sprinter long after DaimlerChrysler split. The Ram ProMaster, though built by FCA in Mexico for the North American market, stems from a partnership in France with PSA Peugeot Citroen. And the ProMaster City is built in a joint-venture plant in Turkey, from which it's also sold by GM as an Opel in Europe and a Vauxhall in the UK. With all those deals coming and going, after all, what would one more add to the complexity?

Ferrari officially files SEC paperwork to register future IPO

Late last year FCA announced plans to spin off Ferrari into a separate company, and after a long wait that process has finally become official. The Prancing Horse has now filed the necessary prospectus and other documents with the Securities and Exchange Commission to hold an initial public offering on The New York Stock Exchange. The paperwork doesn't mention a specific date for the Italian sportscar maker's IPO, but it's expected sometime in October. At this point, the documents also don't include some other vital data about the IPO. Ferrari lists neither the number of shares being offered nor their price. The company also doesn't have a stock symbol yet. UBS, BofA Merrill Lynch and Santander are acting as joint book runners for the deal. As part of the IPO, FCA initially intends to sell 10 percent of Ferrari's shares on the stock market. Another 10 percent of the company still belongs to Piero Ferrari. FCA is holding onto the remaining 80 percent in the short term for financial reasons but intends to distribute them to shareholders in early 2016. After the spin-off, about 24 percent of Ferrari would be owned by Exor, 10 percent by Piero Ferrari, and 66 percent by public shareholders, according to the SEC documents. FCA boss Sergio Marchionne believes that Ferrari could be worth over $11 billion. Although, his estimate might be slightly high. According to Reuters, Wall Street is actually putting the value somewhere between $5.5 billion and $11 billion. If you're thinking about investing in the company or just want to read the nitty-gritty about the brand's financial health, the entire SEC filing can be read here. Ferrari Files for Initial Public Offering LONDON, July 23, 2015 /PRNewswire/ -- Fiat Chrysler Automobiles N.V. ("FCA") announced today that its subsidiary, New Business Netherlands N.V. (to be renamed Ferrari N.V.), has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission ("SEC") for a proposed initial public offering of common shares currently held by FCA. The number of common shares to be offered and the price range for the proposed offering have not yet been determined, although the proposed offering is not expected to exceed 10% of the outstanding common shares. In connection with the initial public offering, Ferrari intends to apply to list its common shares on the New York Stock Exchange.