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Ferrari officially files SEC paperwork to register future IPO

Late last year FCA announced plans to spin off Ferrari into a separate company, and after a long wait that process has finally become official. The Prancing Horse has now filed the necessary prospectus and other documents with the Securities and Exchange Commission to hold an initial public offering on The New York Stock Exchange. The paperwork doesn't mention a specific date for the Italian sportscar maker's IPO, but it's expected sometime in October. At this point, the documents also don't include some other vital data about the IPO. Ferrari lists neither the number of shares being offered nor their price. The company also doesn't have a stock symbol yet. UBS, BofA Merrill Lynch and Santander are acting as joint book runners for the deal. As part of the IPO, FCA initially intends to sell 10 percent of Ferrari's shares on the stock market. Another 10 percent of the company still belongs to Piero Ferrari. FCA is holding onto the remaining 80 percent in the short term for financial reasons but intends to distribute them to shareholders in early 2016. After the spin-off, about 24 percent of Ferrari would be owned by Exor, 10 percent by Piero Ferrari, and 66 percent by public shareholders, according to the SEC documents. FCA boss Sergio Marchionne believes that Ferrari could be worth over $11 billion. Although, his estimate might be slightly high. According to Reuters, Wall Street is actually putting the value somewhere between $5.5 billion and $11 billion. If you're thinking about investing in the company or just want to read the nitty-gritty about the brand's financial health, the entire SEC filing can be read here. Ferrari Files for Initial Public Offering LONDON, July 23, 2015 /PRNewswire/ -- Fiat Chrysler Automobiles N.V. ("FCA") announced today that its subsidiary, New Business Netherlands N.V. (to be renamed Ferrari N.V.), has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission ("SEC") for a proposed initial public offering of common shares currently held by FCA. The number of common shares to be offered and the price range for the proposed offering have not yet been determined, although the proposed offering is not expected to exceed 10% of the outstanding common shares. In connection with the initial public offering, Ferrari intends to apply to list its common shares on the New York Stock Exchange.

2017 Fiat 124 Spider questions if the answer is always Miata

It's a popular response among fans of Mazda's iconic, compact, rear-driver roadster – the answer to any question is always Miata. With the new MX-5-based Fiat 124 Spider, though, the Italians could be set to supplant Hiroshima's finest offering. That is partially because the new 124 Spider brings us something we've long been clamoring for in the Miata. Fiat ditched the MX-5's standard-issue 2.0-liter, Skyactiv four-cylinder, and replaced it with the popular 1.4-liter, turbocharged four-cylinder from the 500 Abarth. While it's worth getting excited about the new roadster's singing voice, it's the big jump in torque that will truly transform the driving experience. Rather than 148 pound-feet, there's a meaty 184 lb-ft, a figure which is paired with 160 horsepower (five more than the MX-5). As Managing Editor Ewing explained in his by-the-numbers comparison of the two roadsters, it's this new powertrain that has the most potential to change the dynamite MX-5 driving experience. Of course, we won't know how it handles for certain until we get behind the wheel. Stay tuned for that saga. As for the looks, we'd argue that they're largely subjective. Among the Autobloggers in attendance at the 2015 LA Auto Show, opinions seem to be split, with some appreciating the Fiata's extensive overhaul while others (notably professed Miata fanatic Ewing) are set firmly against it. We'd love to hear your take on the new look. Take a peek at our full gallery of images from the car's LA debut, and then register your opinion in Comments. All-new 2017 Fiat 124 Spider Revives Legendary Nameplate with Iconic Italian Styling and Dynamic Driving Experience - 2017 Fiat 124 Spider returns nearly 50 years after original introduction Revival of roadster continues expansion of FIAT brand in North America - Delivers iconic Italian style with modern adaptation of original Spider legend - Powered by turbocharged MultiAir 1.4-liter engine for 160 horsepower and 184 lb.-ft. of torque, available with manual or automatic transmission Available with an array of safety and security features, plus technologies for added comfort and convenience - First 124 units will be available as limited-production Prima Edizione Lusso Auburn Hills, Mich., Nov 18, 2015 - The all-new 2017 Fiat 124 Spider revives the storied nameplate, bringing its classic Italian styling and performance to a new generation.

FCA and UAW deal could mean huge production shakeups

The big labor contract between Fiat Chrysler Automobiles and the United Auto Workers is likely to lead to some very serious production shakeups across the company's North American manufacturing operations. That's according to a new report from Automotive News, which details the sweeping changes at no fewer than five production facilities in Michigan, Illinois, Ohio, Mexico, and Poland. So without further ado, here's what's going where, presented in easy to digest bullet form. Ram 1500 production would move from Warren, MI to Sterling Heights, MI Warren, MI would be retooled for unibody production and would handle the Jeep Grand Wagoneer and could potentially build Grand Cherokees to ease the strain on Detroit's Jefferson North factory Chrysler 200 production would move from Sterling Heights, MI to Toluca, Mexico Dodge Dart production would move from Belvidere, IL to Toluca, Mexic Fiat 500 production, which is currently handled by Toluca, would be concentrated in Poland, where the Euro-spec Cinquecento is built Jeep Cherokee production would move from Toledo, OH to Belvidere, IL to make room for Wrangler and Wrangler Pickup production Like we said, those are some big changes. But, as FCA CEO Sergio Marchionne said in an earlier interview with Automotive News, this kind of shakeup would make a lot of sense. In that August interview the exec said that automakers moved truck production to Mexico because they were "threatened" by the UAW. "The only thing [the UAW] want is to move the truck back. Which is right. If you move the truck back here, which is [the UAW's] domain, [and move] all the cars that we get killed on somewhere else, we could actually make sense of this bloody industry and actually increase the number of people employed in this country and really share wealth because we are making money," Marchionne told AN. News Source: Automotive News - sub. req.Image Credit: Bill Pugliano / Getty Images Plants/Manufacturing UAW/Unions Chrysler Dodge Fiat Jeep RAM Sergio Marchionne FCA toluca warren sterling heights