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Ferrari to be spun off from Fiat Chrysler

The recently merged Fiat Chrysler Automobiles empire has ambitious plans for growth, and it's going to need some big bucks in its coffers in order to enact them. Part of that cash injection is coming from the floating of its IPO on the New York Stock Exchange, but now FCA has announced a further capital campaign to be based on the enormous asset that is Ferrari.
FCA's board of directors has just approved the separation of Ferrari from the rest of the group as a separate entity. Once that separation is complete, Ferrari will put 10 percent of its shares on the stock market "in the United States and possibly a European exchange" as well.
This isn't the first time that the idea of a Ferrari IPO has been raised. Sergio Marchionne, chief executive of Chrysler, Fiat and Ferrari (pictured above), first raised the idea four years ago. Former Ferrari chairman Luca di Montezemolo nixed the idea, but now that he's been discharged, it appears there's nothing to get in the way of Marchionne's desires.

Fiat Chrysler quietly sends Pentastar logo out to pasture

Logos come and go, and in the case of the famed Chrysler Pentastar, it's on its way back out. The well-known five-sided emblem, which sits prominently atop the massive Chrysler Technical Center complex in Auburn Hills, MI, is officially going to be phased out now that the company has united with Fiat and formed the new Fiat Chrysler Automobiles.
As a nearly 50-year-old icon, though, the fate of the Pentastar has been deeply intertwined with Chrysler's history. Hemmings has an excellent recap of that history, from its development in 1962 by a Chrysler ad agency through to its temporary discontinuation during the disastrous marriage between the American company and Daimler-Benz, and then on to its revival during the time the automaker regained its independence.
If you've been a fan of Chrysler and its brands over the years, you're going to want to give this piece a read. Head over and take a look.

Chrysler Q3 profits surge to $611M but per-unit profits trouble

Chrysler Group has announced its third-quarter financial results a little later than its crosstown rivals at General Motors and Ford, but the company has reason to celebrate thanks to strong numbers across the board.
The biggest attention-grabber from the automaker is that its net income was up 32 percent in the third quarter to $611 million, compared to $464 million over the same period last year. Modified operating profit was also strong at $946 million - a 10 percent gain. Furthermore, net revenue grew as well to $20.7 billion - 18 percent higher Q3 2013.
Growing sales pushed the strong financials. Chrysler Group sold about 711,000 vehicles worldwide for the quarter, up 18 percent from a year ago. Things looked especially good in the US, where its market share grew to 12.3 percent, versus 11.2 percent in Q3 2013.