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2017-2020 Fiat 124 Spider: Future Classic

The 2017 Fiat 124 Spider held the promise of melding two automotive cultures: the romance of the Italians and the focused finesse of the Japanese. In simple terms, the Fiata, as it came to be called by aficionados, was in fact part Fiat, part Mazda, and all character. Unfortunately, the Miata MX-5 ND ruled the roost in this limited market. Mainstream consumers by this time were already convinced that the future was the SUV; a little two-seater with a stick shift and a rumbling ride wasn’t on too many wish lists. Of course, the Miata, constantly updated through the years, survives today. The Fiata closed up shop in 2020 after only four years. FiatÂ’s questionable reputation for reliability and build quality throughout the previous decades in America didnÂ’t help to push the sporty Spider up the sales charts. Why is the Fiat 124 Spider a future classic? The affordable roadster (which is not to be confused with the original Fiat Spider that launched in the 1960s) landed on US shores in three trim levels: Classica, Lusso and the performance-oriented Abarth, with starting prices that ranged from $25,990 to $28,195. It was built alongside the Miata at Mazda's Hiroshima plant in Japan. Comparisons of the two cars were expected, and voluminous: The Fiat used the same chassis, many of the same interior parts and even the same key fob as the Mazda. But the Spider had different tuning for its steering and suspension, and a different engine under the hood. Of course, both were convertibles. Weight was an issue. The SpiderÂ’s 1.4-liter, turbocharged inline-four was good for 160 horsepower and 184 lb-ft of torque, but that made it 130 pounds heavier than its Japanese near-twin. Then there was turbo lag. One review said that the Fiata Classica's best launch from 0 to 60 mph required 6.5 seconds, not as quick as the 5.8-second start recorded in a Miata Club. Fiat engineers were able to tame the roll of the Miata, but in doing so robbed the 124 of one of its more enviable traits: its tossability. The FiatÂ’s manual tranny received high marks, the automatic not so much. Wind noise with the FiatÂ’s soft top down was horrible, which was sad because the 124 was otherwise superb in highway driving. It had a more compliant suspension that the MX-5, and more sound-deadening padding. Nonetheless, tall/big people werenÂ’t particularly happy in either carÂ’s interiors; “cramped” was a polite way to describe head and shoulder room.

Auto sales in March and first quarter down nearly across the board

Nearly every major automaker reported weak U.S. sales for March and the first quarter of 2019, citing a rough start to the year, but said a robust economy and strong labor market should encourage consumers to buy more vehicles as 2019 rolls on. GM, which no longer releases monthly sales figures, saw first-quarter sales fall 7 percent, with declines across all brands. Sales of Silverado pickup trucks fell nearly 16 percent and the high-margin Chevy Suburban large SUV dropped 25 percent. Ford also no longer releases monthly sales numbers, but is due to release its first-quarter sales figures on Thursday. According to industry data, Ford's sales fell 2 percent in the quarter and 5 percent in March. Ford representatives did not immediately respond to requests for comment. FCA reported a 7 percent fall in U.S. sales in March and a 3 percent drop for the first quarter. All of FCA's brands dropped in March, except for Ram, which saw a 15 percent increase in pickup truck sales. "The industry had a tough first quarter, but with spring finally starting to show its face and continued strong economic indicators ... we are confident that new vehicle sales demand will strengthen going forward," FCA's U.S. head of sales, Reid Bigland, said in a statement. Toyota reported a 3.5 percent fall in U.S. sales in March and 5 percent for the first quarter, hurt by declining demand for its Corolla sedans and Camry vehicles. "While some of our competitors are abandoning sedans, we remain optimistic about the future of the segment," Toyota said in a statement. Nissan posted a 5.3 percent drop in sales in March, and its first-quarter sales were down 11.6 percent. Honda and Hyundai bucked the trend. Honda's U.S. sales rose 4.3 percent in March and 2 percent in the quarter, while Hyundai's were up 1.7 percent and 2.1 percent, respectively. Passenger-car sales suffered throughout the January-March quarter compared with the same period in 2018 as Americans continued to abandon them in favor of larger, more comfortable pickup trucks and SUVs, which are far more profitable for automakers. The battle for market share in the particularly lucrative large-pickup truck market intensified in the quarter, as Fiat Chrysler Automobiles' Ram brand outsold the U.S.' No. 1 automaker General Motors' Chevrolet-brand trucks. The two automakers have both launched redesigned pickup trucks.

GM, FCA retain financial advisors amid merger rumors

Well, here we go again. Despite allegedly shutting down the idea of a merger, General Motors has retained financial advisors to, well, advise it on Fiat Chrysler Automobiles' advances. GM brought in New York-based Goldman Sachs, while FCA is currently working with Switzerland's UBS. Another source told Reuters that GM was working with Morgan Stanley, as well. But what does all this mean? Well, as we know, FCA boss Sergio Marchionne still has his eyes set very much on merging his automaker to combat what he claims are the prohibitive costs that come from developing today's vehicles. And while GM has said "no thanks," to a merger, the FCA boss is still looking to shareholders of the world's third-largest automaker to force the issue. Rather than a sign of an impending merger, voluntary or otherwise, between the two automotive powers – analysts called a hostile move by FCA "beyond ambitious," after all – retaining financial advisors on both sides could be viewed as just good business. News Source: ReutersImage Credit: Paul Sancya / AP Chrysler Fiat GM Sergio Marchionne FCA