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Fiat reveals oddball FCC4 in Sao Paulo

The striking new concept vehicle seen above is called the FCC4, which stands for Fiat Concept Car... with, um, four doors. We're not quite sure what else to call it, because the Fiat Design Center Latam (as in, Latin America) has apparently tried to transcend market segments and traditional bodystyles as much as possible. It's sort of like a four-door coupe, riding high on a jacked-up suspension, with what looks at first like a pickup bed but is actually covered by a sloping glass fastback.
And we thought the Strada was weird.
This Sao Paulo Motor Show showcar is the kind of thing that makes the BMW X6 look positively conventional. Only BMW actually, you know... built theirs and put it on the market. And then it built another. The FCC4 is also longer than an X6, and less than two inches smaller in both width and height. All that weirdness is done up in metallic blue with LED lighting and a face that looks like someone gave the Range Rover Evoque a fat lip.

Fiat To Pay $3.65 Billion For Remaining Chrysler Shares

Italian automaker Fiat SpA announced Wednesday that it reached an agreement to acquire the remaining shares of Chrysler for $3.65 billion in payments to a union-controlled trust fund. Fiat already owns 58.5 percent of Chrysler's shares, with the remaining 41.5 percent held by a United Auto Workers union trust fund that pays health care bills for retirees. Under the deal, Fiat will make an initial payment of $1.9 billion to the fund, plus an additional $1.75 billion upon closing the deal. Chrysler will also make additional payments totaling $700 million to the fund as part of an agreement with the UAW. The deal is expected to close on or before Jan. 20, according to a statement from Chrysler. Sergio Marchionne, CEO of both Fiat and Chrysler, has long sought to acquire the union's shares in order to combine the two companies. "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," Marchionne said in a statement issued by Turin, Italy-based Fiat. The deal eliminates the need for an initial public offering of the union fund's stake, which analysts had previously valued at $5.6 billion. Fiat went to court last year seeking a judgment on the price, but the trial date was set for next September. Marchionne can't spend Chrysler's cash on Fiat's operations unless the companies merge. In recent months he made it clear that he preferred to settle the dispute without an IPO, but filed the paperwork for the offering in September at the trust's request. Chrysler's profits have helped prop up Fiat on the balance sheet as the Italian automaker struggles in a down European market. The Auburn Hills, Mich., automaker earned $464 million in the third quarter on U.S. sales of the Ram pickup and Jeep Grand Cherokee, its ninth-straight profitable quarter. The results boosted Fiat, which earned $260 million in the quarter. Without Chrysler's contribution, Fiat would have lost $340 million. UAW/Unions Chrysler Fiat

Fiat 124 caught entirely undisguised

Dear automakers, please continue making these kind of mistakes. Thanks to what we're guessing is some lax security, the all-new, Mazda MX-5 Miata-based Fiat 124 was spotted taking part in a photo shoot near Santa Barbara, CA. The images show what we'd consider a fairly simple rebadging job. The 124 gets new front and rear clips that not only harken back to the original 124 (not to mention other Fiat roadsters, like the Barchetta), but also serves to distance this droptop from the rest of the company's US range. The similarities between the 124 and the car it's based on are even more obvious in the cabin. This is an MX-5 interior with Fiat's big, red badge on the tiller. That means the same quality materials and knob-dial infotainment system that have been so well received in the Miata. It's under the hood, though, where the Fiat really differs from its Japanese cousin. According to our spy, the vehicle shown here features some kind of two-pedal setup – probably the six-speed Euro twin-clutch used in the 500L and Dodge Dart. Don't worry, though, a six-speed stick will also be on offer. Regardless of transmission, we can expect a 180-horsepower version of the 1.4-liter, turbocharged, four-cylinder offered in the 500 Abarth. And if that's not enough good news, a dedicated Abarth model will likely arrive after launch, which our spies claim will use the 1.75-liter turbo and DCT from the Alfa Romeo 4C. While this represents a good look at the new 124, we'll probably be waiting until the LA Auto Show in November for the official look. Stay tuned.