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Hagerty takes a ride in a 1970 Fiat 124 Spider BS

Whenever Fiat finally rolls out the version of the new MX-5 Miata it co-developed with Mazda, it's tipped to wear the number 124. But it won't be the first time. The Italian automaker last made the 124 in the late 1960s and into the '70s on a little convertible that may lack some of the cachet of other classics from the same time and place, but endures as one of Fiat's most notable models. And perhaps best of all, it's more accessible than a convertible Ferrari or Maserati – even an Alfa Romeo or Lancia – of the same era. In this latest video, launching its new Ride Along series, Hagerty takes a spin in a particularly rare light blue 1970 Fiat 124 Spider BS, and invites us to come along for the ride. Turns out it's a particularly good ride for single gentlemen out on the prowl, at least to hear Hagerty marketing director Marcus Atkinson tell it.

EV cost burden pushing automakers to their limits, says Stellantis' CEO Tavares

DETROIT — Stellantis CEO Carlos Tavares said external pressure on automakers to quickly shift to electric vehicles potentially threatens jobs and vehicle quality as producers struggle with EVs' higher costs. Governments and investors want car manufacturers to speed up the transition to electric vehicles, but the costs are "beyond the limits" of what the auto industry can sustain, Tavares said in an interview at the Reuters Next conference released Wednesday. "What has been decided is to impose on the automotive industry electrification that brings 50% additional costs against a conventional vehicle," he said. "There is no way we can transfer 50% of additional costs to the final consumer because most parts of the middle class will not be able to pay." Automakers could charge higher prices and sell fewer cars, or accept lower profit margins, Tavares said. Those paths both lead to cutbacks. Union leaders in Europe and North America have warned tens of thousands of jobs could be lost. Automakers need time for testing and ensuring that new technology will work, Tavares said. Pushing to speed that process up "is just going to be counter productive. It will lead to quality problems. It will lead to all sorts of problems," he said. Tavares said Stellantis is aiming to avoid cuts by boosting productivity at a pace far faster than industry norm. "Over the next five years we have to digest 10% productivity a year ... in an industry which is used to delivering 2 to 3% productivity" improvement, he said. "The future will tell us who is going to be able to digest this, and who will fail," Tavares said. "We are putting the industry on the limits." Electric vehicle costs are expected to fall, and analysts project that battery electric vehicles and combustion vehicles could reach cost parity during the second half of this decade. Like other automakers that earn profits from combustion vehicles, Stellantis is under pressure from both establishment automakers such as GM, Ford, VW and Hyundai, as well as start-ups such as Tesla and Rivian. The latter electric vehicle companies are far smaller in terms of vehicle sales and employment. But investors have given Tesla and Rivian higher market valuations than the owner of the highly profitable Jeep and Ram brands. That investor pressure is compounded by government policies aimed at cutting greenhouse gas emissions. The European Union, California and other jurisdictions have set goals to end sales of combustion vehicles by 2035.

Junkyard Gem: 1980 Fiat 124 Spider with slushbox

The original Fiat 124 Sport Spider sold like crazy in the United States, with its cheap price tag, raucous-sounding Fiat Twin Cam engine, cool Pininfarina lines, and happy convertible top. They were finicky and fragile, and they broke frequently, so most of them ended up under tarps in driveways and back yards. I have been crawling around in wrecking yards for 34 years now, and the numbers of discarded, never-going-to-get-around-to-this-project 124 Spiders in those yards have remained pretty constant; I see a half-dozen or so junked examples every year, year after year. What I had never seen before now, however, is a Fiat 124 Sport Spider with an automatic transmission. Sure, this car had an optional GM-sourced slushbox available, just as the MGB had a Borg-Warner automatic option, but a car buyer during the Malaise Era generally understood that the only reason to get a flaky, impractical European sports car was for the joy of driving something so lightweight and nimble. Bolting an automatic to one was like chaining a urine-soaked phone book to a jackrabbit. I never believed that anyone actually got the automatic, but here's proof that at least one buyer did. Actually, 80 horsepower in a Fiat with an automatic would be slightly less miserable than 62.5 horsepower in an MGB with an automatic. So there's that. Related Video: Featured Gallery Junked 1980 Fiat 124 Sport Spider in Denver junkyard View 15 Photos Auto News Fiat fiat 124 spider