1978 Fiat 1800 Spider Convertible on 2040-cars

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Fiat stock rockets up after word of Chrysler deal

Now that Fiat has finalized a deal to purchase the outstanding shares of Chrysler owned by the United Auto Workers' VEBA retiree heathcare fund without having to file for an IPO, you can count the Italian automaker's stockholders among the happy. The Detroit News reports that Fiat stock closed Thursday with a 12-percent gain for the day on the Borsa Italiana, having been up by as much as 15.8 percent during the day's trading, at prices not seen since mid-2011. One trader reasoned the run was because Fiat "paid less than the market had expected and there will be no capital increase to fund this."
But there are some who worry, including bank analysts and unions. The final price of the stake will be $4.35 billion - $1.9 billion in cash from Chrysler, $1.75 billion from Fiat and extraordinary dividends in the amount of $700 million paid over three years. Adding that sum to its ledger will raise Fiat's debt level to roughly 10 billion euros ($13.8 billion), which Citibank says will make it the most indebted OEM in Europe.
Italian unions are also concerned about what the deal means for the future. Fiat CEO Sergio Marchionne has had an at-times contentious relationship with both unions and the Italian government over the future of Italian manufacturing, a fact that makes headlines because Fiat is Italy's largest private employer. At least two left-leaning unions have publicly called on Fiat to give guarantees and to explain what the deal means for its Italian operations, while a centrist union argues this is "good news for Fiat workers, for the auto industry and for our country."

The Fiat 124 Spider configurator is live

Last week, Fiat released pricing on the new 124 Spider, and now the roadster's configurator is online. If you buy the Elaborazione Abarth version of the 124 ( elaborazione means 'processing,' which makes little sense to us), you'll probably be thinking about the leather/Alcantara Recaro seats. They're a $1,195 option that Mazda has no answer for on the MX-5 Miata, but adding them means making a big sacrifice, because you can't get the $3,995 Luxury Collection. The pricey package adds a range of desirable options, including leather (but not Recaro) sport seats, navigation, LED headlights, and a nine-speaker Bose stereo. So, you can either have all that good stuff, or you can get the Recaros. It's not an easy decision at all. The Abarth's other big package is the Safety and Comfort Collection. Its $1,495 price tag adds blind-spot monitoring with cross-traffic alert, rear parking sensors, heated exterior mirrors, and an auto-dimming interior mirror. You can only select this item if you go with the Recaros, since most of the stuff it adds comes with the Luxury Collection. Standalone options include a $1,495 set of Brembo brakes. The black hood decal, featured on both the Geneva and New York Auto Show cars, is conspicuous by its absence. The options lists are simpler for lesser 124 Spiders. The base Classica gets by with a $1,295 Technology Collection (seven-inch display audio, rear-view camera, and push-button start with keyless entry). The mid-range Lusso mirrors the Abarth's mutually exclusive packages, with an identical Safety and Comfort Pack. The $3,795 Premium Collection, meanwhile, offers all the same gear as the Luxury Collection for a little less money. Neither the Classica nor the Lusso offer standalone options. We promise the 124 Spider's configurator is better than whatever else you had planned for this Monday afternoon. Related Video: Related Gallery Abarth 124 Spider News Source: Fiat USAImage Credit: Fiat USA Auto News Fiat Car Buying Convertible Performance fiat 124 spider fiat 124 fiat 124 spider abarth

Ram boss says not to expect midsize pickup in America

Remember that mysterious midsize four-door pickup FCA was spotted testing recently? It may be sold as a Fiat in markets overseas, but don't expect it to join the Ram lineup in North America. At least not according to the latest word from the truck brand's new boss. Speaking with Automotive News at the New York Auto Show, Ram CEO Bob Hegbloom outlined four criteria for a successful midsize pickup, particularly in the North American marketplace: they have less capability than a fullsize truck, but return with a more compact form, lower price and considerably higher fuel economy. "I've been able to develop a strategy to come up with three of the four," said Hegbloom, but "I haven't seen anyone who can deliver on all four." Smaller and less capable are easy, but getting both the price and the fuel consumption down at the same time is where it gets tricky. As it is, a Ram 1500 with the diesel engine and rear-wheel drive delivers 29 miles per gallon on the highway, which is already more than the 27-mpg rating on the midsize Chevy Colorado and GMC Canyon. But Hegbloom figures that in order to justify a midsize pickup, American buyers would expect at least 35 mpg on the highway, and in order to do so, FCA would have to employ some trick tech, which would in turn raise the price beyond an attractive level. The last time Chrysler offered a midsize truck in America was with the Dakota that was discontinued in 2011. Ford similarly ceased offering the Ranger in North America in 2012, leaving the new Colorado and Canyon to take on the Toyota Tacoma and Nissan Frontier in the compact/midsize pickup market in the US. With the prospect of a Ram version apparently off the table, then, Fiat's midsize four-door pickup is likely take on the likes of the Volkswagen Amarok, Mitsubishi Triton and Toyota Hilux in markets like Europe and South America. But like those trucks, it will likely never see the inside of an American showroom.