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Lamborghini-powered Fiat 500 blows our minds

We suppose that it was fate that eventually someone would take a vintage Fiat 500 and wrap it around a 6.2-liter V12 plucked from a Lamborghini Murcielago. Seeing as how both the 500 and the Murcielago hail from Italy, it was only a matter of time before the two got drunk and made either the best or worst decision of their lives depending on who you ask.
Built by Oemmedi Mechanics, the car first bowed at the 2012 Bologna Motor Show, and while the ultra-widebody finished product is barely recognizable as an adorable Cinquecento, there's no mistaking the sound of that wicked V12.
How quick is the thing? Oemmedi isn't saying, but we imagine plopping an engine that dishes out 580 horsepower in a car that tipped the scales at just 1,100 pounds from the factory results in all sorts of abuses on the laws of physics. You can check out a few videos of the creation below.

P. Diddy hosting Fiat 500L desert party

Fiat didn't run an advertisement during this year's Super Bowl. We've no idea why, though, because based on this recently released 60-second spot, the Italian brand probably could have done quite well during the big game.
The spot, called Mirage, stars Sean "Diddy" Combs (who happens to be the ex of former Fiat spokesperson Jennifer Lopez) and a pair of very unfortunate pedestrians. Wandering through the desert, the two are confronted by what they think are mirages before stumbling into a giant party hosted by the Grammy Award-winning rapper. It's a humorous spot, highlighting a product that Fiat really needs to succeed, the new 500L.
The Super Bowl-worthy ad is part of a larger campaign that will hopefully help distinguish the four-door L model from its smaller, two-door counterpart. "Too many people discover the 500L through the 500. That's what we have to solve for here," Jason Stoicevich, head of Fiat's brand in North America, told Automotive News. "It's awareness. We know it, we understand it and we had to find a creative way to deal with it."

Chrysler earns $1.7B in 2012, revises product plans for US

Hot on the heels of Ford's earnings announcement for the year that was, Chrysler today reported a 2012 net income of $1.7 billion, up substantially from the comparatively minuscule $183 million profit earned in 2011 when it repaid its US government loans.
Chrysler's good year ended with an excellent fourth quarter that saw net income rise 68 percent from $225 million in 2011 to $378 million. Where are all those extra earnings coming from? Market share, which Chrysler saw increase to 11.4% last year on sales of 1.65 million vehicles. In fact, the Auburn Hills, MI-based automaker out-paced the industry's market growth of 13 percent last year with sales up 21 percent for the year.
The company also revealed an updated product plan for its Chrysler Group and Fiat brands that looks all the way out to 2016. It's an updated version of the plan introduced in 2009 shortly after Fiat took control of the American automaker, and includes such new additions as an Alfa Romeo model, likely the 4C, to be introduced in the US this year, as well five more Alfa models by 2016. Likewise, Fiat will be growing by an additional seven models in the coming few years.