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Iveco spotted testing jacked-up Daily 4x4 in the snow

The Italians go up against the Mercedes Sprinter with the Fiat Ducato, better known around these parts as the Ram ProMaster. But that's not the only full-size van associated with the burgeoning Fiat empire. So too is the Iveco Daily, and here we're looking at the latest version. Spied undergoing cold-weather testing in the snow, this version of the Daily is a chassis cab with a cargo bed, a jacked-up suspension and four-wheel drive. The chassis cab is just one of a number of configurations available for the Iveco Daily, which is perhaps more commonly seen on roads across Europe and around the world as a cargo van or mini-bus. But the 4x4 looks new to our eyes. Now if you're scratching your head and wondering what Iveco is and where it stands in the growing Fiat Chrysler Automobiles empire, the short of it is that it doesn't. Not quite, anyway. Once part of the Fiat Group, it's now part of CNH Industrial – otherwise known as Case New Holland – whose largest shareholder is the same Agnelli-owned Exor holding company that controls the largest share of FCA. That doesn't mean that the Daily, in this form or any other, will make the jump to the North American market any time soon – as an Iveco, a Ram or under any other brand – but as far as professional-grade machinery goes, this piece of forbidden fruit is looking pretty cool. Featured Gallery Iveco Daily 4x4: Spy Shots Image Credit: CarPix Spy Photos Fiat Automakers Truck Commercial Vehicles Off-Road Vehicles iveco iveco daily

Stellantis expects to hit emissions target without Tesla's help

Franco-Italian carmaker Stellantis expects to achieve its European carbon dioxide (CO2) emissions targets this year without environmental credits bought from Tesla, its CEO said in an interview published on Tuesday. Stellantis was formed through the merger of France's PSA and Italy's FCA, which spent about 2 billion euros ($2.40 billion) to buy European and U.S. CO2 credits from electric vehicle maker Tesla over the 2019-2021 period. "With the electrical technology that PSA brought to Stellantis, we will autonomously meet carbon dioxide emission regulations as early as this year," Stellantis boss Carlos Tavares said in the interview with French weekly Le Point. "Thus, we will not need to call on European CO2 credits and FCA will no longer have to pool with Tesla or anyone." California-based Tesla earns credits for exceeding emissions and fuel economy standards and sells them to other automakers that fall short. European regulations require all car manufacturers to reduce CO2 emissions for private vehicles to an average of 95 grams per kilometer this year. A Stellantis spokesman said the company is in discussions with Tesla about the financial implications of the decision to stop the pooling agreement. "As a result of the combination of Groupe PSA and FCA, Stellantis will be in a position to achieve CO2 targets in Europe for 2021 without open passenger car pooling arrangements with other automakers," he added. Tesla's sales of environmental credits to rival automakers helped it to announce slightly better than expected first-quarter revenue this week. The next tightening of European regulations will soon be the subject of proposals from the European Commission. The 2030 target could be lowered to less than 43 grams/km. Related Video: Government/Legal Green Alfa Romeo Chrysler Dodge Fiat Jeep Maserati RAM Tesla Citroen Peugeot Emissions Stellantis

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: