1969 Fiat 500 L, White Red Interior, Clean & Tidy Throughout, Daily Driver on 2040-cars

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Ferrari raises $893M, valued at $12B

Ferrari's stock is moving as quickly on the New York Stock Exchange as the brand's iconic sports cars do on the road. The company's incredibly popular initial public offering has already raised $893.1 million by virtue of 17.18 million shares sold for $52 apiece. If the deal's underwriters buy in as well, the figure would grow to $982.4 million. Plus, even after shouldering some of FCA's debt, the automaker carries an enterprise value of $12 billion, Bloomberg reports. Just as the company starts trading on the New York Stock Exchange, the share price is already racing upward, too. As of this writing, Ferrari stock, which is listed under the symbol RACE, is priced at $57.59. At its high so far today, the value reached as high as $60.95. While Ferrari is looking strong, the big winner in this success looks to be FCA because the company should raise $4 billion in the spin-off, according to Bloomberg. With nine percent of the sports car maker on the NYSE and one percent for the underwriters, another 80 percent will be distributed to FCA investors in 2016. When that's through, Exor, the holding company for the Agnelli/Elkann family, should have the largest stake at about 30 percent. Piero Ferrari holds the remaining 10 percent and has no intention to sell it. Related Video: FCA Announces Pricing of Initial Public Offering of Ferrari N.V. Common Shares Fiat Chrysler Automobiles N.V. (NYSE: FCAU/MI: FCA) ("FCA") and its subsidiary Ferrari N.V. ("Ferrari") announce today the pricing of Ferrari's initial public offering of 17,175,000 common shares at an offering price of $52 per share for a total offering size of $893.1 million ($982.4 million if the underwriters exercise the option described below in full). The shares are expected to begin trading on the New York Stock Exchange on Wednesday, October 21, 2015, under the symbol "RACE", and closing of the offering is expected to occur on October 26, 2015. In addition, the underwriters have a 30-day option to purchase an aggregate of up to 1,717,150 common shares of Ferrari from FCA. The offering is intended to be part of a series of transactions to separate Ferrari from FCA. Following completion of this offering, FCA expects to distribute its remaining ownership interest in Ferrari to FCA shareholders at the beginning of 2016. UBS Investment Bank is acting as Global Coordinator for the offering.

MoMA displays a classic Fiat 500 at its Good Design exhibition

The original, rear-engined Fiat 500 is a design icon thanks to its distinctly recognizable rounded shape and diminutive size. Millions were made from 1957 to 1975, plenty survive, and the car has received not one but two revivals, first in 1991 in the form of the literally named Cinquecento and then with the 2007-present, retro-styled "Nuova" 500. But it's the original that's still worth celebrating, and a new exhibition at New York's MoMA museum is doing just that. The industrial design exhibition, The Value of Good Design, displays an F series 500 as an "expression of form following function." The rear-engined 500 of 1957 was well-timed as Italy rose from the ruins of war and families needed an affordable car that could fit four -- and the 500's spacious packaging was found handy enough to warrant strong sales. And choosing a 500 didn't mean you would need to give up style, especially as a folding fabric roof made the 500 good for sunny weather outings as well (while also saving a bit of steel). Recently, Fiat's small-car know-how has been in the spotlight at various exhibitions. At the Grand Basel show in Switzerland, Italian design professor Paolo Tumminelli celebrated a beat-up, original Fiat Panda as "The very last car made for people, the last surviving witness of a time when the car was still serving humans -- and not the other way around." That is certainly true of the 500 as well, along with its successors, the 600 and 126 models. The below promotional Fiat video from 1957 shows just how cool the 500 was when it was new. MoMA's The Value of Good Design runs from February 10 to May 27. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

It turns out the Fiat 500X isn't a track car

Our long-term Fiat 500X has been a trusty sidekick for road trips, errands, and all the other tasks you normally throw at a baby crossover. But our exhaustive testing does not stop there. On a recent trip to GingerMan Raceway (where we tracked the BMW M2, Ford Focus RS, and our long-term Mazda Miata) the little green Fiat came along on camera-lugging duty. And then Mike and I got in and took it for a hot lap. Though this may seem crazy on the surface, let me try and defend myself. The mode switch on the 500X's center console has a little graphic of the crossover next to a waving checkered flag to signify Sport mode. That was really all the indication I needed to confirm the vehicle's true intentions. So we switched it to track attack, did a brake-torqued launch, and went hunting for apexes. As you'll see in the video above, the baby Fiat ute was actually kind of entertaining on the track. Its torquey 2.4-liter engine engine is fun enough to work, and the nine-speed auto shifted relatively quickly (when I remembered to request shifts). We (okay, I) sort of forgot the last rule of hot-lap club. Wait for the end to find out what I mean. So no, we didn't set any lap records. Except we probably set the track record for a 500X, because I can't imagine anyone else is going to take theirs to GingerMan any time soon. But please, prove me wrong. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Fiat Long-Term Garage Crossover Performance Videos Original Video fiat 500x