2014 Fiat 500 Sport on 2040-cars

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Fiat Chrysler denies rumors that Ferrari SpA is moving to London

It seems that reports of Ferrari's relocation to London have been somewhat exaggerated. The past few days have seen more than a few stories on the legendary Italian brand's decision to move its tax base out of Italy, and now Fiat Chrysler is speaking out against the scuttlebutt. "These rumors have no grounds," FCA said in a statement obtained by Reuters. "There is no intention to move the tax residence of Ferrari SpA outside Italy, nor is there any project to delocalize its Italian operations, which will continue to be subject to Italian tax jurisdiction." Ferrari's move to London was based on two beliefs. First, that the company would benefit from being located nearer the investor community, should it be listed on a European exchange. FCA, though, said a European listing was only a "possibility," according to Reuters. Instead, the company will be listed on an American market. Aside from the move to benefit investors, it was believed Ferrari was looking to relocate to escape Italy's more oppressive corporate tax rate, which sits around at 31.4 percent, compared to the UK's 20 percent, Bloomberg reports. This denial by Fiat Chrysler, though, should be enough to close the book on Ferrari leaving Italy, no matter how much sense it might make. Related Video:

Marchionne defends FCA recalls, says Wrangler won't be all-aluminum

FCA CEO Sergio Marchionne recently received the 2015 Industry Leadership Award from the SAE Foundation. While speaking with the press after the event, the boss discussed his thoughts about some key issues regarding the company's future. One of the big regulatory issues facing FCA at the moment is the upcoming public hearing by the National Highway Traffic Safety into the automaker's handling of 20 recalls. Marchionne has no intention of testifying there, according to The Detroit News. The CEO also thinks that the government regulator is becoming much more aggressive in how it handles safety campaigns, but the Feds aren't necessarily doing a very good job of communicating that. "We need to work with the agency in a very cooperative and open way to make sure that we can meet their requirements for their new stance," he said, according to the newspaper. "We have no option but to comply with their requirements and we will. I have nothing to hide in this process. I just want clear rules." Marchionne also dropped the news that the company has changed its mind about making the next Jeep Wrangler totally from aluminum. "Because of the difference in cost, not just the new material but the actual assembly process, I think we can do almost as well without doing it all-aluminum," he said to The Detroit News. This seemingly opens the door for the model to remain in production in Toledo, OH, but only just a crack. Marchionne says that the new Wrangler would still use a large amount of aluminum, and there are "at least" two sites in contention for the assembly. The company doesn't have too long to make a decision because the model reportedly launches in 2017.

Abarth marks 50 years of 595 with special edition Fiat 500

Abarth presented its original 595 at the Turin Motor Show in 1963. It was the car that put the Scorpion marque on the map and propelled the original Fiat 500 into hot hatch territory. And to mark that occasion, Fiat's performance brand is launching the special edition you see here.
Revealed here ahead of its public debut at next week's Frankfurt Motor Show, the new Abarth 595 50th Anniversary Edition packs a 1.4-liter turbo four with 180 horsepower (20 more than the standard 500 Abarth) channeled through the Abarth Competizione gearbox to the front wheels. The Scorpion brand has also retuned the suspension, fitted 305-millimeter Brembo discs, 17-inch wheels and installed a variable back-pressure exhaust.
Billed as the most powerful 595 to date, the special edition is identifiable by its matte white paint, red racing stripes and retro logos. Step inside and you'll find red leather buckets with white trim. Only 299 examples will be made, but don't go looking for this in US showrooms, as the Abarth range and the Fiat 500 upon which it's based is different in the two markets. Read more in the official press release below.