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Ferrari stock demand exceeding supply

As with the Ferrari cars, so it is with shares in the company's initial public offering: When Ferrari has a limited quantity of something to sell, demand far outstrips supply. Investors told banks weeks ago that bids for the $1 billion in stock – up to 18.89 million shares – would exceed the number of shares available over the entire expected range of $48 to $52. Ten percent of the company is going on the block' Bloomberg reports that the books close on the IPO on Monday at 4:00 pm. The final price will be set on Tuesday, and trading will begin Wednesday under the ticker symbol RACE on the New York Stock Exchange. Piero Ferrari, the son of Enzo Ferrari, will hold onto the ten-percent stake he currently has in the company. Fiat Chrysler will disburse the final 80 percent to its investors sometime in 2016. In combination with spinning Ferrari off from its parent company next year, the share sale is expected to put $4 billion into Fiat Chrysler coffers, which will be used to help fuel the growth of Alfa Romeo, Jeep, and Maserati. Assuming all goes to plan, Bloomberg says Ferrari will be valued at roughly $12 billion, a number $1 billion greater than the valuation Fiat Chrysler CEO Sergio Marchionne put on Ferrari earlier this year and higher than the brand's own internal assessment. Related Video:

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.

Fiat to reveal new 500 on July 4

Fiat has announced that it will reveal a new 500 on July 4 – now just a few weeks away - and just one day after we saw spy shots of the prototypes undergoing testing. The date is not only significant for the American side of the Fiat Chrysler Automobiles group, but for the Italian one as well. In 1957, Fiat rolled out the original Cinquecento in Turin on July 4. Of course a lot has happened since then, and several generations of the 500 have followed. The current model was introduced in 2007, and has since reached over 100 markets around the world with over 1.5 million sold. Since the introduction of the current 500 hatchback, Fiat has rolled out the 500C with an opening roof panel, the 500L for hauling families, and the 500X crossover – to say nothing of the Abarth performance models. As the 500L and 500X aren't directly related to the hatchback, however, they'll likely carry over in their current form after the three-door model is replaced next month. Fiat will be introducing the New 500 on 4 July The countdown to 4 July, the birthday of the iconic 500, has started. It is an important anniversary and this year there will be a great surprise for the millions of fans all over the world who drive it, want it or just admire it. The New 500 is coming and it will be revealed precisely on 4 July, during an unforgettable event. Born in Turin on 4 July 1957, the 500 was revamped in 2007 and since then it has offered the public something new every year. Marketed in more than 100 countries in the world and with more than 1.5 million registered vehicles, the iconic Fiat never ceases to amaze and surprise people with its countless versions and interpretations. Turin, 10 June 2015 Related Video: