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Auto blog

Highlights and standouts from the 2015 LA Auto Show

This year's LA Auto Show has been packed with interesting debuts and fascinating industry trends. The Autoblog team is on the scene to examine all the new metal, and Senior Editor Greg Migliore has some show highlights for us in the video above. In particular, the new Fiat 124 Spider and Honda Civic Coupe stand out as important debuts. The Fiat is based on the excellent Mazda Miata, with a turbocharged 1.4-liter engine and revised styling. The Civic Coupe is a striking redesign of an extremely popular and important model for the company. And the restyled Ford Escape looks more like its bigger brother, the Explorer. There's this an much more in our video above. Watch it and let us know what you think – and look for more LA Auto Show coverage coming soon.

2016 Fiat 124 Spider to debut this year

Those enthused by the prospect of a nimble little convertible but not enamored with the styling of the latest Mazda MX-5 Miata (shown above) have been eagerly awaiting the arrival of the Fiat version. And now we know it's going to break cover later this year. According to Edmunds, which spoke with the Fiat brand's North American chief, Jason Stoicevich, the Fiat 124 Spider will debut later this year either at the Frankfurt Motor Show in September or the LA Auto Show in December. It is expected to begin reaching dealers in 2016. Fiat has yet to confirm whether it'll offer the 124 in North America, but the chances are looking good. "There is a ton of heritage behind that," Stoicevich told Edmunds. "I think that just kind of puts the bow on the showroom for us and fills it out completely." The roadster would bolster a Fiat US lineup that's made up of versions of the 500: the original hatchback, open-roof 500C, electric-powered 500e, and 500L and 500X crossovers. Fiat offers other models overseas, but is said to be preparing a change in direction even in Europe, aligning its portfolio in two pillars built around the 500 and the Panda. Though the 124 will be based on the MX-5's platform and be built alongside it in Japan, the Italian brand will give the convertible its own bodywork and styling. The Italian version of the MX-5 was originally earmarked to wear an Alfa Romeo badge, but Fiat brass decided that Alfas needed to be developed in-house and built in Italy. The decision was then made to give the Fiat brand the convertible instead, though details on what form it will take and what engines will be offered remain a mystery. Related Video: Featured Gallery 2016 Mazda MX-5 Miata Club View 30 Photos News Source: EdmundsImage Credit: Mazda LA Auto Show Frankfurt Motor Show Fiat Convertible 2015 LA Auto Show fiat 124 spider fiat 124

Fiat stock rockets up after word of Chrysler deal

Now that Fiat has finalized a deal to purchase the outstanding shares of Chrysler owned by the United Auto Workers' VEBA retiree heathcare fund without having to file for an IPO, you can count the Italian automaker's stockholders among the happy. The Detroit News reports that Fiat stock closed Thursday with a 12-percent gain for the day on the Borsa Italiana, having been up by as much as 15.8 percent during the day's trading, at prices not seen since mid-2011. One trader reasoned the run was because Fiat "paid less than the market had expected and there will be no capital increase to fund this."
But there are some who worry, including bank analysts and unions. The final price of the stake will be $4.35 billion - $1.9 billion in cash from Chrysler, $1.75 billion from Fiat and extraordinary dividends in the amount of $700 million paid over three years. Adding that sum to its ledger will raise Fiat's debt level to roughly 10 billion euros ($13.8 billion), which Citibank says will make it the most indebted OEM in Europe.
Italian unions are also concerned about what the deal means for the future. Fiat CEO Sergio Marchionne has had an at-times contentious relationship with both unions and the Italian government over the future of Italian manufacturing, a fact that makes headlines because Fiat is Italy's largest private employer. At least two left-leaning unions have publicly called on Fiat to give guarantees and to explain what the deal means for its Italian operations, while a centrist union argues this is "good news for Fiat workers, for the auto industry and for our country."