2013 Fiat 500 Sport Hatchback 2-door 1.4l - Salvage/repairable - $ave! on 2040-cars

Auto blog

VW, Fiat deny merger talks

All parties involved are actively denying a potentially Earth-shattering shakeup in the automotive universe, as a German business publication claimed that Volkswagen and Fiat have been discussing the possibility of a merger.
The magazine, Manager Magazin, claimed that Fiat was looking to ditch its volume automotive business in order to focus even more heavily on Ferrari, according to Automotive News Europe. The report claims that the merger would allow Chrysler to help bolster the Volkswagen brand in the United States.
Not surprisingly, Volkswagen, Fiat and the Agnelli family (which owns a 30-percent stake in FCA) have all denied this report. VW has said it's focusing on efficiency within its own group, and isn't looking at any takeover plans, according to AN. The Agnelli family, meanwhile, has also denied talks, while Fiat officials say are unaware of any talks.

Fiat buying rest of Chrysler in $4.35 billion deal, IPO avoided

Chrysler will now become a wholly owned member of the Fiat family, as it's been announced that the 41.46-percent stake in the Auburn Hills, MI-based manufacturer owned by the United Auto Workers' VEBA trust fund will be sold to the Italian company. Concluding the agreement will mark the closure of a piecemeal purchase process that could have resulted in an initial public offering.
The total cost of the sale will see the VEBA healthcare trust receive $4.35 billion, $3.65 billion of which will come from Fiat. $1.75 billion of that will be cash, while an additional $1.9 billion will be part of a "special distribution." An additional $700 million will be paid over four separate installments according to reports from Automotive News Europe and USA Today, although the shares will belong to Fiat following the first payment. The deal was reportedly initially struck on Sunday (though it is just being announced today), and is being portrayed as particularly good news for Fiat and Chrysler, which have now prevented the remaining shares going to the stock market in a UAW-forced IPO.
"The unified ownership structure will now allow us to fully execute our vision of creating a global automaker that is truly unique in terms of mix of experience, perspective and know-how, a solid and open organization that will ensure all employees a challenging and rewarding environment," Fiat CEO Sergio Marchionne said in a statement.

Fiat 124 Spider Elaborazione Abarth loses 10 hp in its journey to the US [UPDATE]

Update: A Fiat spokesperson got back to us about some questions about the Fiat 124 Spider Elaborazione Abarth, and those quotes are now in the story. The Abarth-tuned version of the Fiat 124 Spider crosses the Atlantic to debut in US spec at the New York Auto Show. The droptop gets a much longer name on these shores as the 2017 Fiat 124 Spider Elaborazione Abarth, and the trip across the ocean robs it of 10 horsepower, too. The Elaborazione Abarth in the US makes 160 horsepower and 184 pound-feet of torque from its turbocharged 1.4-liter four-cylinder. If those numbers seem familiar, it's because they are identical to the standard 124 Spider in this country. In Europe, the Abarth model makes 170 hp and 184 lb-ft from the same engine. Buyers on both continents can choose between six-speed manual or automatic gearboxes. "The engine of the EMEA [Europe, the Middle East and Africa] Abarth Spider has unique tuning developed according to European regulations, so the [horsepower] number is different," Fiat spokesperson Angela Bianchi told Autoblog. Customers in the US also appear to lose out on some European features. The reveal in Geneva seems to show Brembo brakes as standard equipment on the convertible. However, the US announcement is clear that the four-piston monoblock aluminum calipers are optional here. Bianchi told Autoblog the decision to make the Brembos optional was "a decision by the brand here based on customer preference." Other than these changes, the two models are practically identical. There continues to be a stiffer suspension with mono-tube Bilstein front and rear shocks, and the limited-slip differential helps put the power down. The Abarth's Sport Mode button also recalibrates the engine, automatic transmission, electric power steering and dynamic stability control system for better response when the driver wants it. Aesthetically, the Abarth has the same retro-sporty look on both continents, too. The black hood calls back to the original convertible. Inside, black and microfiber upholstery is standard, but options include full leather or leather and Alcantara Recaro sport seats. We'll keep an eye out for smaller changes when we see the Abarth droptop in the Big Apple.