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Audi rumored to buy Alfa Romeo, officials deny it

For more than two years, Volkswagen has been making public statements about its willingness to buy Alfa Romeo and quadruple the Italian brand's sales, and for just as long, Fiat CEO Sergio Marchionne has replied with some version of "Mr. Piëch, drop it." According to a report in Ward's Auto, all that jousting might be over: it claims that sources close to both Marchionne and Audi CEO Rupert Stadler admit that the two are in talks for Audi to buy not just Alfa Romeo, but a production plant in Italy. In fact, a final deal could possibly include partsmaker Magnetti Marelli.
Against that backdrop, a report by German news weekly Stern quotes a Fiat spokesmen as saying it doesn't comment on rumors and an Audi rep has said flatly that "There is no substance in the news." If a sale is being arranged, the timing would seem to point to how eager Fiat is to raise cash to complete its major initiatives. Even though Alfa Romeo continues to delay its return to the US, it just showed off the production version of the 4C at the Geneva Motor Show (shown above) and said that preferred Fiat dealerships here would get them. Then there's Alfa's recently concluded deal with Mazda to develop a roadster based on the next generation MX-5 Miata - a deal that would seem to help both the Italian and Japanese brands.
The monetary issues are troublesome, though. Fiat is taking a beating in the European market and its weak-kneed balance sheet is delaying gotta-have-it products like the Jeep Cherokee. Fiat has been talking to banks about getting money to buy the rest of Chrysler and those financial institutions have also raised issues about debt and cash reserves, and the nasty game of chess Fiat is playing with the United Auto Workers (and now the court system about the portion of Chrysler it doesn't own) could end up blowing another hole in Marchionne's plans. It is possible that this could finally have convinced Fiat to at least see how serious Audi's parent company, Volkswagen, is about buying Alfa Romeo. Or it could be just another rumor.

Ralph Gilles talks minivans, Millennials, mobility, and kissing Alfa Romeos

We sat down with Ralph Gilles, the global head of design for Fiat Chrysler Automobiles, at the 2017 Detroit Auto Show. The veteran stylist has worked for the company for 25 years, and oversees the design of all of the products in the FCA portfolio – everything from mobility pods to Maseratis. This serves Gilles just fine, as his personal automotive interests are exceedingly diverse. The FCA stand was unusually quiet (until Vice President Joe Biden stopped by at the end of our time there) and Gilles was willing to weigh in on a wide range of subjects. Autoblog: We're seeing all of these autonomous mobility pods like Portal being presented at auto shows like CES or NAIAS, but we're not seeing any adoption of this kind of small vehicle in the market. What's your perspective on our pod-like autonomous future versus our truck-centric present? Ralph Gilles: Obviously I pay attention to the industry as much as your readers and yourself, and everyone has a take on the future. We had a debate, we could have done a supercar or something for pure sex appeal [ apparently that's also in the works], but we chose something practical, to really look at the future in a different perspective. We have these Millennials, a huge swath of people born between 1982 and 2004, and the oldest ones are turning 35 right about now, and a lot of them are having families later in life but when they have them they have a little more buying power, so it makes for an interesting cocktail. The one stipulation we had on the Portal project was that everyone had to be a Millennial to be on the team. So that excluded me, I had more of a coach role on the team. And to your point, the Portal in its current state as you see it is not going to be on the road tomorrow. But there's a lot of ideas, a lot of connectivity ideas, a lot of styling ideas, even lighting and technologies that will absolutely find their way into vehicles in the next few years. AB: Being a Detroiter, all of this attention we've had recently in Vegas, CES – I heard that they're maybe going to be running the show at the same time next year. Do you feel a little protective of the Detroit Show? RG: Yeah, it's something to watch. I hope it's not an aggressive thing on their part, by moving the shows on top of each other. They're both important shows. CES, I've been going to for the last five years, and it's changing. There's a lot more automotive content, but there are a lot more start-ups too, and it's interesting to watch.

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: