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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:

Fiat Chrysler and Renault are in advanced partnership talks

Fiat Chrysler Automobiles and Renault are in advanced discussions about a possible alliance, according to a report from the Financial Times citing an anonymous "person familiar with the matter." The news isn't particularly surprising, as FCA has been a constant subject of merger and alliance talks for as long as many of us can remember. We've reported on a potential tie-up between these two automakers several times, as far back as 2008 and as recently as two months ago. FCA CEO Mike Manley has mentioned the company's openness to merging with another automaker. At the Geneva Motor Show a few months back, he said, "We have a strong independent future, but if there is a partnership, a relationship or a merger which strengthens that future, I will look at that." It's no secret that FCA is much stronger in the United States than it is in Europe. For its part, Renault has basically zero presence in the United States. A partnership or potential alliance between the two could shore up each automaker's weak spots and allow the group to split investment money into new technologies, including electric vehicles and autonomy. Of course, Renault is already tied up with Nissan and Mitsubishi, but that partnership has been a little tattered since the arrest of former Nissan and Renault CEO Carlos Ghosn on charges of financial misconduct in Japan. And in addition to Renault, FCA is understood to have discussed various partnership strategies with the PSA Peugeot Citroen group. What a final agreement – if there's any agreement at all – could look like between the two global automakers remains to be seen, and the report from Financial Times cautions that many different options for FCA and Renault are currently on the table. In other words, stay tuned.

2019 Fiat 500X First Drive Review | Anchor's away!

MALIBU, Calif. — We lived with the Fiat 500X for a year and were pleasantly surprised by everything it had to offer but — and this is a big but, a but worthy of Sir Mix-a-LotÂ’s affection — the entire powertrain.  ItÂ’s no small feat that the small crossover was able to charm us despite our distaste for the very thing that makes it move. For 2019Â’s mid-cycle facelift, Fiat has addressed that exact issue. Gone is the old, naturally aspirated 2.4-liter inline-four that Fiat called the Tigershark, but we called a boat anchor. It was noisy, unresponsive, and an insult to tiger sharks. We preferred the lower-spec 1.4-liter turbo to the higher-spec 2.4, and suggested that it should be offered on all trims. Now the sole engine on all trim levels is a turbocharged 1.3-liter with stop-start and Multiair III, FiatÂ’s third-generation cam-less variable intake valve system. Fiat also eliminated the front-wheel-drive option for 2019, making all 500Xs all-wheel drive. Though the motor is down three horsepower overall — 177 versus the TigersharkÂ’s 180 — it more than makes up for it in torque. The outgoing engine produced 175 lb-ft at a lofty 3,900 rpm, which wasnÂ’t really useful in real-world driving. The 2019 comes with 210 lb-ft at a mere 2,200 rpm, giving drivers significantly more grunt at the low end. Beyond that, Fiat says the engine is less thirsty than the 2.4-liter — the only engine available in 2018 all-wheel-drive models — returning 24 city and 30 highway mpg. ThatÂ’s 3 mpg better in the city and 1 on the highway, made possible with more efficient technologies like needle roller bearings around the exhaust cam, a variable displacement oil pump, and an integrated charge-air cooler and exhaust manifold. We'll note that the 2018 500X equipped with front-wheel drive, the 1.4-liter turbocharged engine and six-speed manual transmission is still the most efficient of them all, returning 25 city and 33 highway mpg. “The engine is about 80 pounds lighter than the 2.4,” chief engineer Adam Remesz told us, putting total curb weight for the AWD model with 17-inch alloys at 3,305 pounds. Improved efficiency also means reduced CO2 emissions, down from 264 grams per mile to 242. According to Remesz, thatÂ’s “about the amount expelled by an average adult male running a 10k race.” Sure. The new mill mostly addresses our biggest gripe with the 500X. The throttle feels peppier, and rolling acceleration is much improved.