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New 2019 Fiat 500X bows with standard AWD, 1.3-liter turbo four

Fiat is unveiling the U.S. version of the new 2019 500X all-wheel-drive subcompact crossover this week in Los Angeles, and it deviates slightly from the European refresh version we previewed in August and its U.S. predecessor, with a new engine and standard all-wheel drive. Instead of the three gasoline engines on offer across the pond or the two stateside, U.S. consumers will get a standard 1.3-liter, direct-injection turbocharged engine that produces 177 horsepower and a best-in-class 210 pound-feet of torque. Those are higher output figures than either the comparable European 1.3-liter or the 1.4-liter, and they compare with the 180 hp and 175 lb-ft offered by the outgoing 2.4-liter Tigershark engine. The new four-cylinder is fitted with stop-start technology and the third generation of FCA's MultiAir valve-actuation technology, which controls intake-valve timing and opening to recycle exhaust gas to offer improved power and fuel efficiency. Also reflecting American trends — and don't let the gear shifter knob fool you — there's no manual transmission on offer, with power instead mated to a nine-speed fully electronic automatic transmission. Three driving modes are on offer: a baseline Auto, performance-oriented Sport, and Traction +, which maximizes low-speed traction. Looks-wise, the basics are the same, with sharper creases, new LED head- and taillights, and redesigned front and rear fascias. The U.S. version continues the plastic body cladding defining the grille surround, a shape echoed at the rear. There are three wheel options — 17-inch silver aluminum for the Trekking model, 17-inch matte black machined wheels for the Treeking Plus, and 18-inch matte anthracite machined aluminum for Trekking and Trekking Plus (Pop is the entry-level trim). There are also three new exterior colors: Italia blue, green and ivory. Fiat designers refreshed the cockpit with new seat fabrics, a new instrument cluster and a new steering wheel with mounted radio controls. It comes with standard Connect 4 with a 7-inch touchscreen radio with Apple CarPlay and Android Auto and Bluetooth features. Safety features include blind-spot monitoring, rear cross path detection and a rear backup camera with dynamic grid lines. Adaptive cruise control is offered as an option. The 500X will start at $25,785 including destination when it goes on sale next spring. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences.

Chrysler stays IPO until 2014

There will not be a Chrysler IPO in 2013. Fiat, according to a report from Forbes, has announced that it will not be able to make the American brand's initial public offering before the end of the year, saying that the short, five-week window that makes up the rest of 2013 is "not practicable."
Not surprisingly, the issue with the Chrysler IPO is the same as it's always been - a disagreement between parent company Fiat, which owns 58.5 percent of the Chrysler Group and a UAW healthcare trust, which owns 41.5 percent. Fiat wants to buy out the UAW VEBA healthcare trust, which is responsible for shouldering retiree healthcare costs, but the two sides are hung up on an actual price tag for the remaining two-fifths of the company.
The original idea saw an IPO as a way of setting a fair market price for the remaining shares, although it's not entirely clear what broke down and led to a delay of the IPO plan. As Forbes points out, by waiting until 2014, Chrysler could be risking a cool-off in the IPO market, which could mean less money in its pocket when the automaker finally goes public.

Stellantis reports $15B profit in first year of merger

FRANKFURT, Germany — Automaker Stellantis said Wednesday that it made 13.4 billion euros ($15.2 billion) in its first year after it was formed from the merger of Fiat Chrysler Automobiles and PSA Group. The earnings nearly tripled profits compared with its pre-merger existence as two separate companies, as the maker of Jeep, Opel and Peugeot vehicles exploited cost efficiencies from combining the businesses. The result compared to a combined 4.79 billion euros for the separate companies in 2020 before the merger, which took effect on Jan. 17, 2021. Revenue for the combined business rose 14%, to 152 billion euros. CEO Carlos Tavares said the results “prove that Stellantis is well positioned to deliver strong performance" and had overcome “intense headwinds” during the year. Automakers have struggled with shortages of key parts such as semiconductor electronic components and rising costs for raw materials as the global rebound from the worst of the coronavirus pandemic brings more demand. The company said the benefits of the merger were worth some 3.2 billion euros during the year. Mergers can lead to streamlined costs as companies combine functions and spread fixed costs over a larger revenue base. The company accelerated its rollout of battery-powered vehicles, with sales of low-emission vehicles reaching 388,000 — an increase of 160%. Stricter environmental regulations in Europe and China are pushing automakers to roll out more electric vehicles with longer range. Stellantis started production of a hydrogen fuel cell commercial van under its Opel brand in December. Stellantis' other brands include Chrysler, Citroen, DS, Fiat, Maserati, Ram and Vauxhall. Related video: Earnings/Financials Chrysler Dodge Ferrari Fiat Jeep RAM Citroen Opel Peugeot Vauxhall