1971 Fiat 500 F, Very Hard To Find, Great Driver, Fresh Paint, Ready For Fun! on 2040-cars

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CEO says Volkswagen's buying spree is over

After adding Italian motorcycle icon Ducati to its stable and spending $5.6 billion on the rest of Porsche, Volkswagen CEO Martin Winterkorn says he's done shopping for a while.
"We have enough to do at the moment in taking our twelve brands to where we want to be," Winterkorn tells German newspaper Handelsblatt.

2014 Fiat 500L now comes with a complimentary Italian family

Fiat's marketing machine has invaded Funny or Die, and the resulting web commercial is both entertaining and weird. Watch one couple buy the "most stylish" and "roomiest" car they've ever had, thinking they'd be able to transport golf bags and art supplies (and 32 basketballs?) only to have the roomy-for-a-Cinquecento back seat filled with a complimentary Italian family. In real life, we can't see this being a good thing; not only do they take up space, but their added weight most certainly would hurt gas mileage and performance.
But in commercial land, it comes off as funny, and Fiat does prove that the 2014 500L is roomy enough for five people (including the driver), if not golf bags, art supplies and 32 basketballs. Scroll down to watch amusing Internet short below.

Fiat buying rest of Chrysler in $4.35 billion deal, IPO avoided

Chrysler will now become a wholly owned member of the Fiat family, as it's been announced that the 41.46-percent stake in the Auburn Hills, MI-based manufacturer owned by the United Auto Workers' VEBA trust fund will be sold to the Italian company. Concluding the agreement will mark the closure of a piecemeal purchase process that could have resulted in an initial public offering.
The total cost of the sale will see the VEBA healthcare trust receive $4.35 billion, $3.65 billion of which will come from Fiat. $1.75 billion of that will be cash, while an additional $1.9 billion will be part of a "special distribution." An additional $700 million will be paid over four separate installments according to reports from Automotive News Europe and USA Today, although the shares will belong to Fiat following the first payment. The deal was reportedly initially struck on Sunday (though it is just being announced today), and is being portrayed as particularly good news for Fiat and Chrysler, which have now prevented the remaining shares going to the stock market in a UAW-forced IPO.
"The unified ownership structure will now allow us to fully execute our vision of creating a global automaker that is truly unique in terms of mix of experience, perspective and know-how, a solid and open organization that will ensure all employees a challenging and rewarding environment," Fiat CEO Sergio Marchionne said in a statement.