Vintage Italian Car Fiat 500 L 1972 Restored As New on 2040-cars

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Fiat will start selling 500e in Oregon this summer

Even thought demand in California for the Fiat 500e electric vehicle is growing, the fun little EV is about to grown its sales to the north. Fiat US chief Jason Stoicevich tells Wards Auto that sales of the EV will start in Oregon this summer, adding that green-minded Portland will likely be a strong market for the model. Fiat 500e demand in California is "fantastic." This year's first-quarter sales of the gas-powered and EV variants of the 500 were up about 19 percent from a year earlier, as a recent TV ad campaign featuring Sean "P. Diddy" Combs and the model's availability at about 220 dealerships appear to have been effective. Stoicevich didn't give any specific sales figures for the 500e, though he did say demand in California is "fantastic." "After its introduction in California last year, the Fiat 500e has been a great success for our brand in just a short period of time," Fiat spokeswoman Angela Bianchi wrote in an e-mail to AutoblogGreen while confirming the debut of 500e sales in Oregon this summer. "Oregon is the second-largest ZEV (zero-emissions vehicle) state after California." Late last year, Wards Auto named the 500e motor to its 10 Best Engines list, making the model the first Fiat ever to receive that honor. The 500e has 111 horsepower and can go 87 miles on a single charge. The 500e also won Road & Track's 2013 award for best electric car in November as the model was praised for its power and handling. Read our review of the 500e here.

Fiat stock rockets up after word of Chrysler deal

Now that Fiat has finalized a deal to purchase the outstanding shares of Chrysler owned by the United Auto Workers' VEBA retiree heathcare fund without having to file for an IPO, you can count the Italian automaker's stockholders among the happy. The Detroit News reports that Fiat stock closed Thursday with a 12-percent gain for the day on the Borsa Italiana, having been up by as much as 15.8 percent during the day's trading, at prices not seen since mid-2011. One trader reasoned the run was because Fiat "paid less than the market had expected and there will be no capital increase to fund this."
But there are some who worry, including bank analysts and unions. The final price of the stake will be $4.35 billion - $1.9 billion in cash from Chrysler, $1.75 billion from Fiat and extraordinary dividends in the amount of $700 million paid over three years. Adding that sum to its ledger will raise Fiat's debt level to roughly 10 billion euros ($13.8 billion), which Citibank says will make it the most indebted OEM in Europe.
Italian unions are also concerned about what the deal means for the future. Fiat CEO Sergio Marchionne has had an at-times contentious relationship with both unions and the Italian government over the future of Italian manufacturing, a fact that makes headlines because Fiat is Italy's largest private employer. At least two left-leaning unions have publicly called on Fiat to give guarantees and to explain what the deal means for its Italian operations, while a centrist union argues this is "good news for Fiat workers, for the auto industry and for our country."

For his last act, Marchionne will outline an EV/hybrid roadmap this week

MILAN/LONDON — Fiat Chrysler (FCA) boss Sergio Marchionne is expected to outline new plans for electric and hybrid cars in a strategy presentation on Friday, aiming to ensure the world's seventh-largest carmaker remains in the race in the absence of a merger. The 65-year-old will present FCA's strategy to 2022, his final contribution to the company he turned around and multiplied in value through 14 years of canny dealmaking. After failing to secure a tie-up he said was necessary to manage the costs of producing cleaner vehicles, Marchionne needs to show the group can keep churning out profits on its own, even as emissions rules tighten, SUV competition intensifies and worries around his succession abound. Marchionne had long refused to jump on the electrification bandwagon, saying he would only do so if selling battery-powered cars could be done at a profit. He even urged customers not to buy FCA's Fiat 500e, its only battery-powered model, because he was losing money on each sold. But Tesla's success and the need to comply with tougher emissions rules have forced Marchionne to commit to what he calls "most painful" spending. "FCA is way behind rivals in terms of hybrid and electric vehicles and they need to hit the accelerator to convince investors they can close that gap," said Andrea Pastorelli, a fund manager at 8a+ Investimenti. Germany's Volkswagen, Daimler, BMW and U.S. rivals GM and Ford have committed to spending billions of euros each in coming years to try produce profitable cars powered by cleaner fuels. FCA needs to present a clear roadmap, just like Volvo Cars, which ditched diesel from its best-selling XC60 SUV, launched a new electric brand and pledged to shift all brands to hybrid by 2019, a banking source close to FCA said, noting: "The tech divide determines winners and losers in the industry." Marchionne has already said half of the wider FCA fleet will incorporate some elements of electrification by 2022, while luxury marque Maserati will spearhead FCA's electrification drive by making all new models due after 2019 electric. But its plans remain vaguer and less advanced than most big rivals and some investors wonder about the capital required to make vehicles compliant, and what share of spending can go to electrification given FCA's numerous demands.