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Fiat Chrysler's London offices will be small, with financial focus

Fiat Chrysler's decision to locate its new corporate headquarters in jolly old London won't herald a sprawling relocation effort. Instead, it's very likely that the FCA outfit will be a small one, primarily focused on finance.
The report comes from Automotive News Europe, which claims FCA's London office will employ about 50 people with backgrounds in finance. CEO Sergio Marchionne and Fiat Group Chairman John Elkann will both have offices at the corporate headquarters, as well.
ANE cites an anonymous source that claims the people employed at the London office will focus primarily on treasury operations. It's unlikely that FCA will take on any additional employees specifically for its UK offices. That said, FCA isn't likely to downsize either its Turin or Auburn Hills offices once London comes online.

Fiat 695 Abarth 70th Anniversary is the most absurd and awesome Fiat 500 variant yet

Fiat recently told us it would be discontinuing the Fiat 500 hatchback and convertible in America, but Europe still enjoys small cars. There, Fiat just took the wraps off the nuttiest and most shocking 500 variant of all, the 695 70th Anniversary edition. Although we won’t be getting it in America, we can't help but gawk at that spoiler. Look at it! Abarth went all out with this manually adjustable spoiler, naming it “Spoiler ad Assetto Variabile.” There are 12 different settings, varying from 0 degrees to 60 degrees in full attack. Fiat says its highest downforce setting provides 92.6 pounds of downforce at 124 mph. Testing was done in an Italian wind tunnel, ensuring the wingÂ’s functionality. It also says “Abarth” on it in big lettering, making it even cooler. The Fiat 695 Abarth is a tribute to the 70th anniversary of Abarth, which was founded in 1949 by Carlo Abarth. Only 1,949 will be made, and itÂ’s more than just the wing that sets it apart. All of the anniversary cars will get a full body kit, contrasting with the main paint color. A checkered roof and Abarth Scorpion stickers will also set it apart from other 500s. Additionally, Fiat is equipping all of them with the vocal Record Monza exhaust, a limited-slip differential, bright-red Brembo brake calipers and special 17-inch alloy wheels.  On the interior, folks will get “Sabelt Tricolor” seats only meant for this special edition car — theyÂ’re black, but they have the Italian flag colors on the headrest. Power remains the same as a regular 695 Abarth, putting out 180 horsepower and 185 pound-feet of torque from the 1.4-liter turbocharged four-cylinder. YouÂ’ll be able to hit 62 mph in 6.7 seconds with this Abarth and a top speed of 139.8 mph.

The Fiat 124 Spider's future is uncertain

Earlier this month, Fiat brand CEO Olivier Francois explained to Autocar that Fiat would re-focus on “the right balance between the two dimensions: the Fiat 500 family and family transportation. There will be no big cars, no premium cars, no sporty cars because they have no legitimacy. We will be present in the C-segment [Ford Focus class] but not much more. All models will sit within 3.5m and 4.5m (11.5 to 14.8 feet). This is where Fiat will play. We need more EVs. And we need more 500 models that look legitimate enough to take higher pricing.” Francois didn't say the 124 Spider is doomed, but Autocar understands that a second generation of the Mazda MX-5/Miata-based roadster is "unlikely." The comments on the 124 Spider come in the wake of Fiat pulling the droptop from the UK market because the car wasn't making money. The CEO said the partnership that created the convertible made sense, yet that while the 124 is profitable overall, "such a car may not be key to the future of the brand. It is not what IÂ’d call a pure, absolute Fiat, but for now, it remains an interesting opportunity.” The 124 Spider costs a touch less than the MX-5/Miata in the U.S., the opposite of UK pricing; nevertheless, the Mazda handily outsells the Italian after three years on sale. If Mazda keeps the fourth generation Miata around for 10 years as it did with the third generation, though, there could be a few years left to enjoy the 124 Spider even in the face of declining sales. The future of the Fiat brand in Europe will be built on the 500 on the next Panda city cars, joined by "a range of larger vehicles suitable for families;" one-third of the city cars sold in Europe are Fiats. The brand's U.S. lineup, aside from Abarths, is four 500-based cars and the 124 Spider. The 500 range will go upscale in order to justify higher prices to pay for electrified 500 and Panda platforms. A new electric 500 is expected next year, Francois describing that car in March as, "A new 500, totally renewed. A new object. Totally electric. It's kind of an urban Tesla, with beautiful style.