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Junkyard Gem: 1991 Chrysler LeBaron GTC Convertible

Chrysler's versatile front-wheel-drive K Platform saved the company from certain doom during the early 1980s, then spawned so many derivatives — including the vehicle that started the minivan revolution — that we can't keep track of all of them. One of the original K-cars was the affordably luxurious 1982 Chrysler LeBaron, which evolved into a snazzy convertible later in the decade. The LeBaron disappeared after 1995, replaced by the Sebring and the Cirrus, and I'm seeing fewer and fewer of these cars during my wrecking-yard explorations. Here's a sporty '91 convertible in a Denver-area yard. The top-of-the-line LeBaron convertible in 1991 was, in fact, badged by Maserati and came only with a Mitsubishi V6. That 141-horse engine was the base powerplant for the '91 LeBaron GTC, though an optional 2.5-liter, 152-horsepower straight-four could be purchased for the LeBaron (but not for the TC By Maserati). The "litre" spelling was considered very classy by Detroit during the 1975-2000 period. Whoever bought this car in the first place must have been a bit of a hell-raiser, because here's the 5-speed manual transmission that became increasingly rare in members of the K-Car family as automatics got cheaper. It also has the driver's-side airbag, which meant that those horrible automatic seat belts that ruined early-1990s cars weren't required. The interior has suffered much fading from the Colorado sun, but it started life as an exquisitely 1980s/1990s Bordello Red palace, all done up in pseudo-velour and hard plastic. Not quite 150,000 miles on the clock. 1992 was the last year for the LeBaron's pop-up headlights. That's just as well, because the mechanisms that opened the "eyelids" tended to get flaky as the years went by. ] This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. There Is No Luxury Without Engineering.

Ford delays North American production restart from coronavirus lockdown

Ford said on Tuesday it was postponing its plan to restart production at its North American plants due to safety concerns for its workers amid the coronavirus pandemic. To generate cash, the No. 2 U.S. automaker had said last week it was poised to restart production at some plants in North America as early as April 6, bringing back such profitable vehicles as its top-selling F-150 full-sized pickup, the Transit commercial van and SUVs. But on Tuesday, Ford said it had been aiming to resume production at several key U.S. plants on April 14, but would now instead do so at dates it would announce later on. "The health and safety of our workforce, dealers, customers, partners and communities remains our highest priority," Kumar Galhotra, president of Ford's North American operations, said in a statement. Still, the automaker will open a plant in Ypsilanti, Michigan, during the week of April 20, that will make ventilators to treat patients afflicted by the coronavirus. Rival Fiat Chrysler Automobiles said last week it plans to resume production in North America on April 13. General Motors has shuttered its plants indefinitely and has not provided a date for vehicle production to restart. It is facing a delay in the production launch of its redesigned large SUVs and is delaying work on other SUVs. "Once it is safe to resume production, we will do so," a GM spokesman said. As of Monday, Volkswagen was shooting for an April 5 reopening at its Tennessee plant. Honda, Nissan and Subaru facilities in North America will remain closed through April 6, and Hyundai through April 10. Toyota was planning to reopen its North American plants April 17. Plants/Manufacturing Chrysler Fiat Ford GM coronavirus

Ferrari raises $893M, valued at $12B

Ferrari's stock is moving as quickly on the New York Stock Exchange as the brand's iconic sports cars do on the road. The company's incredibly popular initial public offering has already raised $893.1 million by virtue of 17.18 million shares sold for $52 apiece. If the deal's underwriters buy in as well, the figure would grow to $982.4 million. Plus, even after shouldering some of FCA's debt, the automaker carries an enterprise value of $12 billion, Bloomberg reports. Just as the company starts trading on the New York Stock Exchange, the share price is already racing upward, too. As of this writing, Ferrari stock, which is listed under the symbol RACE, is priced at $57.59. At its high so far today, the value reached as high as $60.95. While Ferrari is looking strong, the big winner in this success looks to be FCA because the company should raise $4 billion in the spin-off, according to Bloomberg. With nine percent of the sports car maker on the NYSE and one percent for the underwriters, another 80 percent will be distributed to FCA investors in 2016. When that's through, Exor, the holding company for the Agnelli/Elkann family, should have the largest stake at about 30 percent. Piero Ferrari holds the remaining 10 percent and has no intention to sell it. Related Video: FCA Announces Pricing of Initial Public Offering of Ferrari N.V. Common Shares Fiat Chrysler Automobiles N.V. (NYSE: FCAU/MI: FCA) ("FCA") and its subsidiary Ferrari N.V. ("Ferrari") announce today the pricing of Ferrari's initial public offering of 17,175,000 common shares at an offering price of $52 per share for a total offering size of $893.1 million ($982.4 million if the underwriters exercise the option described below in full). The shares are expected to begin trading on the New York Stock Exchange on Wednesday, October 21, 2015, under the symbol "RACE", and closing of the offering is expected to occur on October 26, 2015. In addition, the underwriters have a 30-day option to purchase an aggregate of up to 1,717,150 common shares of Ferrari from FCA. The offering is intended to be part of a series of transactions to separate Ferrari from FCA. Following completion of this offering, FCA expects to distribute its remaining ownership interest in Ferrari to FCA shareholders at the beginning of 2016. UBS Investment Bank is acting as Global Coordinator for the offering.