2012 Pop 1.4l Gray on 2040-cars

Auto blog

Chrysler stays IPO until 2014

There will not be a Chrysler IPO in 2013. Fiat, according to a report from Forbes, has announced that it will not be able to make the American brand's initial public offering before the end of the year, saying that the short, five-week window that makes up the rest of 2013 is "not practicable."
Not surprisingly, the issue with the Chrysler IPO is the same as it's always been - a disagreement between parent company Fiat, which owns 58.5 percent of the Chrysler Group and a UAW healthcare trust, which owns 41.5 percent. Fiat wants to buy out the UAW VEBA healthcare trust, which is responsible for shouldering retiree healthcare costs, but the two sides are hung up on an actual price tag for the remaining two-fifths of the company.
The original idea saw an IPO as a way of setting a fair market price for the remaining shares, although it's not entirely clear what broke down and led to a delay of the IPO plan. As Forbes points out, by waiting until 2014, Chrysler could be risking a cool-off in the IPO market, which could mean less money in its pocket when the automaker finally goes public.

Abarth trim of Fiat 124 Spider reportedly debuts in Geneva

Keep your eyes open for the possible debut of the high-performance Abarth version of the Fiat 124 Spider at the Geneva Motor Show, which opens March 1. Alfredo Altavilla, FCA's chief operating officer for Europe, told Italian newspaper Corriere Della Sera the hotter droptop would debut in Switzerland, according to Road & Track. Unfortunately, he simply said the convertible would be there and didn't offer any details about its upgrades. Rumors paint a fairly complete picture about what to expect from the Abarth 124. European models would likely make 170 horsepower from a tuned version of the regular one's 1.4-liter turbocharged engine. However, there would also be an even hotter EsseEsse trim, which the US would get, with around 220 horsepower. Achieving that much power might require a new engine, and it's possible the convertible could borrow the 1.75-liter turbo unit from the Alfa Romeo 4C. Spy shots show the Abarth has a more aggressive look to match its extra performance. The body features larger front takes, bigger side sills, and dual-exit exhausts at each corner of the rear. Reports also suggest Fiat would borrow from the classic 124 Spider by offering options like a removable hardtop and blacked-out hood. During the standard 124 Spider's debut at the LA Auto Show, Olivier Francois, global head of the Fiat brand, said the company plans to market the new convertible as a relatively affordable but distinctly Italian sports car. A Ferrari might be out of a buyer's reach, but a Fiat is attainable. The Abarth's extra performance seems like a perfect way to further that message, and we can't wait to see it. Related Video:

FCA US under-reported death and injury claims to NHTSA

The National Highway Traffic Safety Administration says FCA US significantly under-reported death and injury claims due to flaws in its early warning system. The government first discovered a potential problem with the automaker's reporting in late July, and FCA US has been investigating the issue since. NHTSA claims that the problem appears linked to the way the company gathers and reports safety information. The agency is still investigating how serious the flaws are and their causes. "This represents a significant failure to meet a manufacturer's safety responsibilities," NHTSA Administrator Mark Rosekind.Rosekind said in a statement. FCA US admits that it "identified deficiencies" in the reporting, but in a statement the company said that it notified NHTSA of the issue immediately. The company promised that it is taking this problem "extremely seriously" and pledged to remedy the situation. In late July, FCA US was hit with a potential $105-million fine by NHTSA for the way the automaker conducted some recalls. As part of that agreement, the company also consented to more rigorous oversight by safety regulators in the future and a buy-back of some affected vehicles. Other automakers have been punished for failing to submit EWR data. Honda incurred a $70 million fine in January from NHTSA for missing 1,729 incidents over 11 years. Ferrari had to pay $3.5 million in 2014 for not sending them in for three years. Statement from NHTSA Administrator, Mark Rosekind, on Fiat Chrysler Automobiles' under-reported discrepancy in FCA's Early Warning Report data September 29, 2015 "In late July, NHTSA notified Fiat Chrysler Automobiles of an apparent discrepancy in FCA's Early Warning Report data. FCA has informed NHTSA that in investigating that discrepancy, it has found significant under-reported notices and claims of deaths, injuries and other information required as part of the Early Warning Reporting system. Preliminary information suggests that this under-reporting is the result of a number of problems with FCA's systems for gathering and reporting EWR data. This represents a significant failure to meet a manufacturer's safety responsibilities. NHTSA will take appropriate action after gathering additional information on the scope and causes of this failure." – Mark Rosekind, NHTSA Administrator. Statement: TREAD Reporting September 29, 2015 , Auburn Hills, Mich.