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Future Classic: 1990-2012 Mitsubishi Eclipse

It was meant to be a premiere partnership, pregnant with possibilities: the alliance of a pair of global automotive powerhouses from Japan and America. Eventually the merger gave birth to a trio of highly-regarded sports coupes: the Mitsubishi Eclipse, the Eagle Talon and the Plymouth Laser, cars developed by the company that became Diamond-Star Motors. Although DSM’s beginnings can be traced back to a flirtation in 1970, when Chrysler Corporation took a 15-percent stake in Mitsubishi Motors, the partnership later culminated in a formal pairing in 1985. It was good timing: Chrysler was emerging from near-bankruptcy; the Japanese company just didnÂ’t have anything to please U.S. buyers, and with government-imposed “voluntary” import quotas, its supply lines were broadly restricted. Chrysler, looking to expand its lines, built a plant in Normal, Illinois, but, although Chrysler put up half the $650 million for the facility, it left management to Mitsubishi. And the Japanese facilities provided engines and transmissions. By the end of 1989, production of the Diamond-Star triplets — the Laser, Eclipse and Talon — was in full swing. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Why is the Mitsubishi Eclipse a Future Classic? The Eclipse, supposedly named for an unbeaten 18th-century English racehorse that won 18 races in a row, was the shining star of the line. Because of its long run in series production, the genealogy of the Eclipse is worth discussing. Initially the car, designed at the Mitsubishi Motors North America Design Studio and introduced in 1990, was available in four trim levels: Eclipse, Eclipse GS, Eclipse GS-T (Turbo) and Eclipse GSX. It evolved first as a two-door coupe, later as a convertible or liftback, with front-wheel or all-wheel drive, and with engine choices including naturally aspirated fours, turbocharged fours and V6 options. One really needs a scorecard to chart the generations: 1st Gen (1990-1994), 2nd Gen (1995-1999), 3rd Gen (2000-2005), and 4th Gen (2006-2012). Before the EclipseÂ…well, was eclipsed, buyers of the third and fourth-gen cars could specify a 3.8L V6 engine as well as a four. This swank 2+2 sports car and its nearly identical cousin, the Eagle Talon TSi, emerged as hot rods for the Nineties, and tuners gave them full props for power.

Fiat Chrysler and the UAW reach tentative labor deal

DETROIT — Fiat Chrysler Automobiles and the United Auto Workers (UAW) union on Saturday announced a tentative agreement for a four-year labor contract, a boost for the automaker as it works to merge with France's Groupe PSA. Italian-American Fiat Chrysler and PSA, the maker of Peugeot and Citroen, last month announced a planned $50 billion merger to create the world's fourth-largest automaker. The tentative agreement with Fiat Chrysler, which is subject to ratification by the union members, follows contracts that the UAW already concluded with Ford Motor Co and General Motors Co. The deal with GM followed a 40-day strike in the United States that virtually shuttered GM's North American operations and cost the automaker $3 billion. The UAW on Saturday said the contract with Fiat Chrysler included a commitment from FCA to invest $9 billion, creating 7,900 new jobs over the course of the four-year contract. Of the $9 billion, $4.5 billion was announced earlier this year, to be invested in five plants and creating 6,500 jobs. Detailed terms of the tentative agreement were not released, but they are expected to echo those under the new contracts with GM and Ford, as the UAW typically uses the first deal as a pattern for the others. "FCA has been a great American success story thanks to the hard work of our members," UAW acting President Rory Gamble said in a statement. "We have achieved substantial gains and job security provisions for the fastest growing auto company in the United States." Ratification is not a sure thing. Rank-and-file UAW members at FCA in 2015 rejected the first version of a contract. In addition, a lawsuit related to a federal corruption probe could also raise doubts among union members about the terms agreed. The federal corruption led GM to file a racketeering lawsuit against FCA, alleging that its rival bribed union officials over many years to corrupt the bargaining process and gain advantages, costing GM billions of dollars. FCA has brushed off the lawsuit as groundless. Under the UAW's deal with GM, the automaker agreed to invest $9 billion in the United States, including $7.7 billion directly in its plants, and to create or retain 9,000 UAW jobs. Ford's contract included commitments to invest more than $6 billion in its U.S. plants and to create or retain more than 8,500 UAW jobs. The deals with GM and Ford also created a pathway to full-time employment for temporary workers and left healthcare insurance coverage unchanged.

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.