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Ferrari stock demand exceeding supply

As with the Ferrari cars, so it is with shares in the company's initial public offering: When Ferrari has a limited quantity of something to sell, demand far outstrips supply. Investors told banks weeks ago that bids for the $1 billion in stock – up to 18.89 million shares – would exceed the number of shares available over the entire expected range of $48 to $52. Ten percent of the company is going on the block' Bloomberg reports that the books close on the IPO on Monday at 4:00 pm. The final price will be set on Tuesday, and trading will begin Wednesday under the ticker symbol RACE on the New York Stock Exchange. Piero Ferrari, the son of Enzo Ferrari, will hold onto the ten-percent stake he currently has in the company. Fiat Chrysler will disburse the final 80 percent to its investors sometime in 2016. In combination with spinning Ferrari off from its parent company next year, the share sale is expected to put $4 billion into Fiat Chrysler coffers, which will be used to help fuel the growth of Alfa Romeo, Jeep, and Maserati. Assuming all goes to plan, Bloomberg says Ferrari will be valued at roughly $12 billion, a number $1 billion greater than the valuation Fiat Chrysler CEO Sergio Marchionne put on Ferrari earlier this year and higher than the brand's own internal assessment. Related Video:

FCA denies report it's pulling Chrysler brand from Japan

TOKYO - Fiat Chrysler Automobiles denied it had decided to pull the plug on the Chrysler brand in Japan, after local media reported it was planning to stop selling the US cars in the country as early as next year following years of poor sales. "Although FCA Japan has already announced its intention to concentrate its resources on the Jeep brand ahead, no decisions have been made regarding (the) Chrysler brand," the automaker said ion Monday. The Nikkei business daily reported that the European-US automaker, which also sells the Jeep, Fiat, Alfa Romeo, and Abarth brands in Japan, was close to deciding to throw in the towel on the Chrysler brand, which posted sales of less than 300 vehicles in 2016, having fallen steadily since around 2000 and are about a tenth of what they were a decade ago. FCA sells only one Chrysler model in Japan, the full-size 300s sedan, which is sold at the company's Jeep dealerships. FCA's Fiat brand, which includes smaller models, and its Jeep brand have been growing in the country. Last year they sold around 6,700 and 9,400 units, respectively, making them top 10-selling foreign branded vehicles in the Japanese market. However, foreign cars constitute a small portion of the total Japanese auto market, which is dominated by domestic brands. Last year, 295,000 foreign-branded new cars were sold in the country, roughly one-tenth of total new vehicle sales. Reporting by Naomi TajitsuRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2017 Chrysler 300S Sport Appearance Package: New York 2016 View 12 Photos Auto News Chrysler Fiat Jeep Sedan FCA

Chrysler Airflow concept previews the brand's all-electric future

For a couple of years now, Chrysler has been teasing an electric concept with the name of Airflow, and now the company has finally revealed a seemingly close-to-production version. Simply called the Chrysler Airflow Concept, it seems to be a preview of what might be the brand's first all-electric car, due by 2025. Compared to a number of recent electric cars, the Airflow looks rather conservative, but not unattractive. The nose very modest grilles, with the upper one bearing an illuminated Chrysler wing badge. There's hardly a sharp crease on the rounded, organic body. The wheel arches are emphasized with taller, wider metal over the fenders. The roof has a trendy contrasting paint, and the rear has a wide and thin taillight bar. Inside, the Airflow has a similarly soft and rounded aesthetic. Light leather is found on the doors, dash and seats. Most of the dash consists of screens, too. There's a center screen for driver infotainment, with instrument screen and screens for climate control on either side. The rear seats get screens, too. But they all look feasible, especially considering the raft of displays in the Jeep Grand Wagoneer. Among some of the high-tech features are the ability for each passenger to customize their screens, and information can be sent to other passengers' screens at will. Each passenger position has a camera for video calling, too. Chrysler was light on mechanical details. All the company said was that it features two 201-horsepower electric motors, one at the front, the other at the rear for all-wheel drive. Exact battery capacity wasn't given, but Chrysler says range should be between 350 and 400 miles. Additionally, the car supposedly features SAE Level 3 semi-autonomous driver assist under the name STLA AutoDrive. Chrysler hasn't explicitly said the Airflow is coming to production, but this concept looks like it's almost ready for market. The brand also said that its first EV is coming before 2025, a step towards going fully electric by 2028. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.