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Fiat set to invest $12B on new models, stop Euro losses in 3 years

Naturally, you'd expect a massive automaker like Fiat to have an in-depth plan to exit the current European-market doldrums, and you'd expect that plan to include plenty of new vehicles to attract those precious buyers that still remain despite the financial downturn. And you'd be right, though Fiat does seem to have a few unexpected twists up its corporate sleeve.
Perhaps the biggest shocker is a report that Fiat will completely drop the Punto, a car with mass-market appeal aimed at small-car buyers cross-shopping the popular Volkswagen Polo. Its replacement will be a five-door Fiat 500 aimed at upmarket buyers (sounds awfully similar to the 500L) that will be built in Poland. Lower-end customers will reportedly be served by variants of the Fiat Panda.
Borrowing a page from the BMW, Daimler and Volkswagen playbook, reports Automotive News, Fiat is said to have plans to reignite production at its Italian factories by retooling them to build high-end vehicles from Maserati and Alfa Romeo. These will be marketed as premium products, built by skilled Italian workers (who are paid wages that are 75-percent higher than those building Fiats in Poland), and will be sold around the world.

Maserati makes 328-foot-long trident with 80 Grecale test mules

Maserati delayed the launch of the Grecale, its long-awaited second SUV, from November 2021 to the spring of 2022, but that doesn't mean the test mules and the engineers tasked with driving them are taking a sabbatical. The company is still testing prototypes all over the world, and it brought 80 pre-production models fully draped in camouflage to a test track in Modena, Italy, to create a giant trident emblem. Over 250 development models are racking up miles in Italy, Finland, the United Arab Emirates, China, Japan and the United States, according to the Italian firm. About a third of them gathered near the company's home town to form the 328-foot trident. It's a stunt that allowed Maserati to release a handful of cool images, but it teaches us little about the Levante's baby brother, which will be aimed at the Porsche Macan. Luckily, Maserati also released a couple of images that show four prototypes parked in front of the Milan Cathedral. We can tell that the Grecale borrows a handful of styling cues from the MC20; it's not simply a scaled-down Levante. Its headlights are oval and nearly vertical (the Levante's are thin and almost horizontal) and its grille looks wider and thinner. Earlier spy shots suggest that the Grecale wears a roofline that leans more towards sport than utility; it's not a utilitarian people-hauler with the proportions of a school bus. Unverified reports claim that Maserati will build the Grecale on an evolution of the Giorgio platform that underpins Alfa Romeo's Stelvio and Giulia models. If that's accurate, rear-wheel drive will likely come standard (at least in some markets) and all-wheel drive will be offered at an extra cost. We're guessing that four- and six-cylinder engines will be available, though full specifications haven't been published yet, and Maserati previously confirmed that a high-performance version worthy of the Trofeo emblem will join the range at some point.  More details about the Maserati Grecale will emerge in the coming months.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Gary Cooper's 1935 Duesenberg SSJ fetches record price at Pebble Beach

The 1935 Duesenberg SSJ formerly owned by Gary Cooper sold for a jaw-dropping $22 million over the weekend at the Gooding & Co. Pebble Beach auction, setting a record for the most valuable pre-war car ever sold at auction. It also appears to have become the most expensive American collector car ever sold at auction, eclipsing the very first Shelby Cobra ever made, which sold for $13.75 million in 2016. The Duesenberg was also the lone American-made entrant in the list of top 10 sellers, which was crowded with the names Ferrari and Porsche. You have to go all the way down the list to No. 21 to find the next American car: a 1930 Packard 734 Speedster Phaeton, which sold for a mere $1.127 million. All told, Gooding & Co. said it realized more than $116.5 million in auction sales over the weekend, with a whopping 25 cars sold for north of $1 million, an 84 percent sales rate and an average transaction price of $947,174. Clearly this is how the other half 1 percent lives. Gooding & Co. said there were five world-record sales at the auction. Joining the Duesenberg were a 1955 Ferrari 500 Mondial Series II, which sold for $5.005 million; a 1958 Ferrari 250 GT Tour de France Berlinetta, $6.6 million; a 1967 Ferrari 330 GTC Speciale, $3.41 million; and a one-of-two 1966 Ferrari Dino Berlinetta GT, $3.08 million. Oh, and that 1969 Ford Bronco test vehicle we told you about? The one that was rebadged by Holman & Moody as a Bronco Hunter? It sold for $121,000, which was well below the expected range of $180,000 to $220,000. Perhaps it was the presence of all those gorgeous Porsche Spyders and Ferraris that meant collectors weren't interested in boxy, utilitarian off-roaders. View 24 Photos Gooding and Co. had expected the convertible Duesenberg coupe to go for more than $10 million. It was one of only two of its kind built by Duesenberg — the other having gone to Clark Gable — with a specially shortened, 125-inch wheelbase and a supercharged straight-eight with double overhead cams, able to produce around 400 horsepower and a top speed of 140 miles per hour. It features a lightweight open-roadster bobtail body produced by LaGrande out of Connersville, Ind. The car was also owned at one point by race driver Briggs Cunningham.