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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.

2016 Fiat 500X Long-Term Wrap Up | Exceeds expectations

Compact crossovers are on the rise. Most shoppers are young and the competition reflects that. Everything, from our long-term 2016 Fiat 500X to the new Toyota C-HR or the upcoming Hyundai Kona, sells just as much on style as it does on substance. Our time with the 500X shows Fiat's entry into the segment has plenty of both. It's not as compromised as something like the Nissan Juke and not as sterile as the Honda HR-V. It proved to be a solid if occasionally troublesome vehicle. What were those troubles? A few wiring issues within the steering column sent car alarms blazing in the middle of the night. The same issue turned on the wipers when using the turn signal. The issues were fixed after a couple trips to the dealer. So yes, the local Fiat dealer did indeed have to fix it again. We did not confirm if the mechanic was named Tony. Still, it was charming and exceeded most of the Autoblog staff's expectations. Based on previous experiences with Fiats, we weren't sure how the 500X would fare over a year. Not all of our long-term cars leave a lasting impression, but we were sure sorry to see this one leave. Editor-in-Chief Greg Migliore - I always enjoy a night or weekend in the 500X. In fact, it was one of my go-to sign-outs. It's functional. It looks cool inside and out, and it's easy to drive. I dig the small hatchback/crossover vibe. There's room in the trunk for plenty of stuff and the back seat is reasonable for adults. This is the kind of vehicle that could turn Americans on to Fiat. It meets their needs and it's stylishly different. I like driving it. The transmission is a little weird with its shifts, but you get used to it. Sport mode makes the car a lot more responsive and it's a nice feature. The saddle brown interior looks great and held up well, and the exterior is cute with its peering headlights and subtle curves. I actually like driving this car, as opposed to our other recent long-termer, the HR-V, which was dull, slow and lacking in character. You chose the Fiat. You had to take the Honda. Executive Producer Adam Morath - I wanted to love this car, but it just wouldn't let me. First, the good: It's the best looking of the 500 lineup, offers nice utility in a stylish, compact package. The seats aren't going to offer tons of bolstering support, but they are wide and comfortable. Visibility and spacious cabin feel are also pluses. Finally, I love that you can get unique-looking materials to cover the seats.

Hellcat no help to Fiat-Chrysler's bottom-of-the-pile mpg average

What, you expected the "fastest muscle car ever" to help fleetwide fuel economy? Nope, don't think that's going to happen. That means Fiat Chrysler will likely to continue to languish at the bottom of the heap when it comes to fleetwide fuel economy among the largest automakers serving the US, especially as the automaker starts to sell its Dodge Challenger SRT Hellcat. A few hundred Fiat 500E electric vehicles aren't going to turn the trend around. See, Chrysler has once again finished at the bottom of the list when it came to fleetwide fuel economy among automakers for 2014 model-year vehicles, according to a preliminary study by the US Environmental Protection Agency. Chrysler and Fiat had an average of 21.1 miles per gallon. That substantially lagged the overall 24.2 mpg average, but it was an increase from the company's 20.9 mpg average last year and the 20.1 mpg average two years prior. For 2014, General Motors had the second-worst fleetwide fuel economy at an even 22 mpg. Fiat Chrysler does say it's working on improving its fuel economy, according to Automotive News. The company plans on making its inline-four-cylinder and V6 engines smaller, and will sell more vehicles with eight- and nine-speed transmissions. Heck, there's even a plug-in hybrid version of the Chrysler Town & Country minivan in the works for late 2015, and the company can tout fuel-efficiency gains with the Chrysler 200 and Jeep Cherokee. We would be remiss if we didn't note that, compared to its muscle-car forefathers, the Hellcat actually performs pretty well at the pump. Last month, word got out that the 2015 Challenger Hellcat, equipped either with a six-speed manual or an eight-speed automatic transmission, got a combined fuel economy of 16 mpg. Heck, the automatic-tranny version got 22 mpg on the highway. And that's for a car with 707 horsepower and a 10-second quarter-mile time. Still, with the pedal floored, the car can burn a gallon and a half of fuel per minute. Ouch.