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FCA may sell off Magneti Marelli

FCA is reportedly just days away from filing the official prospectus for the Ferrari initial public offering, and it could put the Italian sportscar maker's value at $11 billion. Although, Sergio Marchionne always seems to have another iron in the fire, and his next big deal could shed the automotive giant's Magneti Marelli parts business to the tune of $3.3 billion. According to Reuters citing anonymous insider sources, at least two private equity firms are considering joint submitting bids with firms already in the industry. This deal has reportedly been in the works for at least the last few weeks. According to Reuters, FCA already rejected a roughly $2.7-billion offer in June. Marchionne apparently wants at least the equivalent of $3.3 billion for the company. Publicly, FCA isn't talking, though. Company spokesperson Gualberto Ranieri told Reuters and reiterated to Autoblog simply that Magneti Marelli wasn't for sale. However, a move to get rid of the parts company has been discussed in the past. In 2013, the business was rumored to be part of a purported arrangement to sell Alfa Romeo to Audi. While there's no final decision yet, according to Reuters, if the Magneti Marelli sale does move forward the decision would likely come sometime after the Ferrari IPO. The company would likely be split up among the various divisions. "Everyone will take a fair share of it," one of the anonymous sources to Reuters. News Source: ReutersImage Credit: Jeff Kowalsky / Bloomberg via Getty Images Earnings/Financials Chrysler Fiat Sergio Marchionne FCA fca us magneti marelli

Fiat 500 Lego Ideas kit is super cool and close to production

Back in 2016, we highlighted an awesome Lego Fiat 500 model that was submitted to the Lego Ideas website. The website, for those of you unfamiliar, is where Lego fans can submit their creations to potentially become production kits that other people could buy. That kit was still in the early stages of hitting 10,000 supporters, the number needed to officially be considered by Lego. We have learned that the kit is now really close to hitting the goal. It has reached 8,255 supporters at the time of writing, and it has 139 days remaining to hit the goal. It's worth supporting, too, if you haven't. We felt that way when we first wrote about it. We were impressed by its opening doors, hood, trunk lid and sunroof. Plus, it's full of cool little details such as windshield wipers, a spare tire under the hood, a little rendition of the 500's already small engine in the back, and a nicely detailed interior. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. We're also impressed at how the creators, Felix Stiessen and Gabriele Zannotti, have been refining the model since we last saw it. It now has clear bricks to form a solid windshield, and there are a number of areas in which the model has been smoothed out and cleaned up. The car's front and roof are key examples. The bumper is now rounded at the corners, and the hood takes advantage of more curved pieces that slope forward for a rounder look. If you want the chance to get one of these 500 kits yourself, definitely go to the Lego Ideas website, sign up, and hit the support button. It doesn't cost anything, and you can find other neat kits to support. There's a very real possibility of the kit reaching production, too. A really cool Lego Caterham kit that garnered enough support on Lego Ideas was approved for production back in 2016, and it's still available for purchase at the Lego website for $79.99. Related Video: Featured Gallery Lego Fiat 500 Image Credit: Felix Stiessen and Gabriele Zannotti Toys/Games Fiat Hatchback Classics Lego

Marchionne's FCA-GM merger might come after Ferrari spinoff

Sergio Marchionne is continuing to rumble about working out a merger with General Motors, but don't expect anything big to happen before at least early next year. That's because Marchionne would likely wait for the Ferrari spin-off to be complete before beginning his next big deal, according to Automotive News. While the Ferrari IPO on the New York Stock Exchange is expected in the coming weeks, that only concerns 10 percent of the shares. The remaining 80 percent of stock is being distributed among shareholders in 2016. Piero Ferrari holds the final 10 percent with no intention to sell. This strategy allows FCA to claim 80 percent of the Prancing Horse's profits in the automaker's 2015 financial results. According to Automotive News, the tactic has other advantages, as well. FCA would be flush with cash by waiting for the spin-off to be complete, and it would keep Ferrari separate if a GM merger actually happens. Marchionne thinks Ferrari could be valued at over $11 billion in the IPO, and it could make FCA $3.3 billion richer when complete. Marchionne believes a combined FCA/GM could sell 17 million vehicles a year globally and rake in $30 billion in earnings. In the CEO's opinion, the two automakers are wasting money by developing components to do the same things on their vehicles. Although, so far the General's top execs are rebuffing all of his advances.