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Fiat shareholders green-light Chrysler merger, end of an Italian era

Fiat has just taken a major step away from its Italian heritage, as shareholders officially approved the company's merger with Chrysler. That move will lead to the formation of Fiat Chrysler Automobiles NV, a Dutch company based in Great Britain and listed on the New York Stock Exchange, according to Automotive News Europe.
The company captured the two-thirds majority at a special shareholders meeting, although there are still a few situations that could defeat the movement. According to ANE, roughly eight percent of shareholders opposed the merger, which is a group large enough to defeat the plan, should they all exercise their exit rights outlined in the merger conditions.
Meanwhile, Fiat Chairman John Elkann (pictured above, right, with CEO Sergio Marchionne and Ferrari Chairman Luca Cordero di Montezemolo), the great-great-grandson of Fiat founder Giovanni Agnelli, reaffirmed his family's commitment to the company beyond the merger. Exor, the Agnelli family's holding company, still maintains a 30-percent stake in Fiat.

Some Jeep Cherokees and Chrysler 200s to get standard stop-start in 2015

Automakers the world over are striving to find ways to make their models more efficient, and Chrysler has a solution for some versions of the 2015 Chrysler 200 and 2015 Jeep Cherokee (2014 model shown). The Tigershark 2.4-liter four-cylinder in the 200 and the 3.2-liter Pentastar V6 in the Cherokee are getting a slight boost later this year thanks to the addition of Chrysler's Engine Stop-Start system as standard equipment. The company predicts modest gains - a three-percent improvement in fuel economy and a three percent reduction in CO2 emissions with the new tech compared to without it. While it's not much, those who sit in traffic a lot may see a difference.
Chrysler's stop/start system uses a high-speed starter motor to restart the vehicle in a claimed a third of a second. It works by detecting when the vehicle comes to a stop and turning off the engine. A more powerful battery maintains all of the model's accessories while it sits. When the driver lets off the brake, the car starts up again to drive away. There is even a button in the cabin to turn the ESS off, if desired.
The Jeep will be the first to receive ESS in the third quarter of this year to coincide with the start of production of the 2015 model-year version. The 200 will follow in the fourth quarter as a rolling change in production.

Ferrari families have 'agreement' to prevent takeover

With its initial public offering already a massive success, Ferrari is now officially a publicly traded company on the New York Stock Exchange. While anyone can buy those shares, don't expect investors to take control away from some of the top owners of the Prancing Horse anytime soon. To maintain their power, Enzo Ferrari's son, Piero, and Exor chairman John Elkann will sign a deal guaranteeing themselves nearly half of the automaker's voting rights, Bloomberg reports. As part of this arrangement, shareholders that agree to hang onto Ferrari stock for at least three years would receive additional voting rights in the company, and that would give Piero and Elkann a combined 48.7 percent of the automaker by banding together. While not quite complete control, the move should be enough to prevent a takeover of the business. "We have an agreement among the families to protect our interests in Ferrari," Piero said to Bloomberg. This agreement won't really become a concern until next year because only 10 percent of Ferrari will be traded for now. FCA will distribute another 80 percent to its shareholders in early 2016, and Elkann's Exor will be getting the largest portion of the Prancing Horse in the spin-off. Meanwhile, Piero holds the remaining 10 percent but has absolutely no intention to sell his stake in his father's business. The newly public Ferrari will push to grow volume with a goal of moving 9,000 vehicles annually by 2019. To reach that 30-percent boost, expect to see a new model every year, and some of them might use a new, modular platform that's reportedly under development. Related Video: