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Ferrari and FCA are officially separated

It's been a long time in the making, but it's officially happened: Ferrari is no longer part of Fiat Chrysler Automobiles. Following the Italian automaker's initial public offering, it has officially split off from its former parent company. As part of the spin-off, FCA's stakeholders will each receive one common share in Ferrari for every ten they hold in Fiat Chrysler. Special voting shares will be distributed in the same proportions to certain shareholders as well. Those shares being distributed will account for 80 percent of the company's ownership. Another ten percent was floated as part of the company's IPO, while the remaining 10 percent is held by Enzo's son Piero Ferrari (pictured above at center), who serves as vice chairman of the company. The shares will continue to be traded under the ticker symbol RACE on the New York Stock Exchange, and will begin trading this week as well under the same symbol on the Mercato Telematico Azionario, part of the Borsa Italiana in Milan. Since the extended Agnelli family headed by chairman John Elkann (above, right) holds the largest stake in FCA, expect it to continue controlling the largest portion of Ferrari shares as well. Between them, nearly half of the shares in the supercar manufacturer – and we suspect a little more than half of the voting rights – will be controlled by the Agnelli and Ferrari families, who are expected to cooperate to ensure the remaining shareholders don't attempt a takeover of the company. Similar to its former parent company, which operates out of Turin and Detroit, the Ferrari NV holding company is nominally incorporated in the Netherlands, but the automaker will continue to base its operations in Maranello, Italy. That's where it's always been headquartered, on the outskirts of Modena. For the time being, Sergio Marchionne (above, left) remains both chairman of Ferrari and chief executive of FCA – a position to which he is not unaccustomed, having previously headed both Fiat and Chrysler before the two officially merged. Related Video: Separation of Ferrari from FCA Completed LONDON, January 3, 2016 /PRNewswire/ -- Fiat Chrysler Automobiles N.V. ("FCA") (NYSE: FCAU / MTA: FCA) and Ferrari N.V. ("Ferrari") (NYSE/MTA: RACE) announced today that the separation of the Ferrari business from the FCA group was completed on January 3, 2016. FCA shareholders are entitled to receive one common share of Ferrari for every 10 FCA common shares held.

Playboy's Playmate of the Year gets a Fiat 124 Spider

As Playboy's latest – and possibly last – Playmate of the Year, we have little doubt that Eugena Washington can get a ride in just about any car she wants. But for the next two years she'll be driving herself around in a 2017 Fiat 124 Spider – the model that FCA has fittingly positioned as the automotive equivalent of Viagra. A two-year lease on the Japanese-made, Italian-styled roadster is part of Washington's prize package for winning the magazine's top honor, along with $100,000 in cash. The actress and model has already made it to the top three in the seventh season of Tyra Banks' show America's Next Top Model and has appeared in advertising campaigns for Lexus, Target, and an array of cosmetics brands. Eugena is the publication's 57th Playmate of the Year, and the third black woman to receive the title (following 1990's Renee Tenison and Ida Ljungqvist in 2009). But she may also be the last as the magazine, in an historic move, transitions away from nudity in print and into the mainstream to compete with publications like GQ and Vanity Fair. Related Video: Eugena Washington, Playboy's 2016 Playmate of the Year, With All-new 2017 Fiat 124 Spider May 12, 2016 , Auburn Hills, Mich. - Eugena Washington, an accomplished model and actress from Palmdale, California, has been named Playboy's 2016 Playmate of the Year. Along with her title, Washington receives $100,000 in prize money and a two-year lease on the all-new 2017 Fiat 124 Spider. Reviving the storied nameplate, the all-new 2017 Fiat 124 Spider brings its classic Italian styling and performance to a new generation. Paying homage to the original 124 Spider nearly 50 years after its introduction, the 2017 Fiat 124 Spider delivers the ultimate Italian roadster experience with driving excitement, technology and safety combined with iconic Italian design. Washington is featured on the cover and a 10-page pictorial inside Playboy's June 2016 issue. Click here for more from the May 11 announcement. ### Playboy Names Eugena Washington Its 2016 Playmate Of The Year LOS ANGELES, May 11, 2016 /PRNewswire/ -- Eugena Washington, an accomplished model and actress from Palmdale, California, has been named Playboy's 2016 Playmate of the Year and will be formally introduced to press today at the Playboy Mansion in Holmby Hills, California.

Auto sales in March and first quarter down nearly across the board

Nearly every major automaker reported weak U.S. sales for March and the first quarter of 2019, citing a rough start to the year, but said a robust economy and strong labor market should encourage consumers to buy more vehicles as 2019 rolls on. GM, which no longer releases monthly sales figures, saw first-quarter sales fall 7 percent, with declines across all brands. Sales of Silverado pickup trucks fell nearly 16 percent and the high-margin Chevy Suburban large SUV dropped 25 percent. Ford also no longer releases monthly sales numbers, but is due to release its first-quarter sales figures on Thursday. According to industry data, Ford's sales fell 2 percent in the quarter and 5 percent in March. Ford representatives did not immediately respond to requests for comment. FCA reported a 7 percent fall in U.S. sales in March and a 3 percent drop for the first quarter. All of FCA's brands dropped in March, except for Ram, which saw a 15 percent increase in pickup truck sales. "The industry had a tough first quarter, but with spring finally starting to show its face and continued strong economic indicators ... we are confident that new vehicle sales demand will strengthen going forward," FCA's U.S. head of sales, Reid Bigland, said in a statement. Toyota reported a 3.5 percent fall in U.S. sales in March and 5 percent for the first quarter, hurt by declining demand for its Corolla sedans and Camry vehicles. "While some of our competitors are abandoning sedans, we remain optimistic about the future of the segment," Toyota said in a statement. Nissan posted a 5.3 percent drop in sales in March, and its first-quarter sales were down 11.6 percent. Honda and Hyundai bucked the trend. Honda's U.S. sales rose 4.3 percent in March and 2 percent in the quarter, while Hyundai's were up 1.7 percent and 2.1 percent, respectively. Passenger-car sales suffered throughout the January-March quarter compared with the same period in 2018 as Americans continued to abandon them in favor of larger, more comfortable pickup trucks and SUVs, which are far more profitable for automakers. The battle for market share in the particularly lucrative large-pickup truck market intensified in the quarter, as Fiat Chrysler Automobiles' Ram brand outsold the U.S.' No. 1 automaker General Motors' Chevrolet-brand trucks. The two automakers have both launched redesigned pickup trucks.