2004 Chrysler Crossfire Base Coupe 2-door 3.2l Slt Loaded V6 Mercedes Slk 320 Nr on 2040-cars

Auto blog

Ford and Chrysler reducing summer plant shutdowns

Most domestic automaker assembly plants traditionally take a couple of weeks off during the summer. The shutdowns give each plant time for much needed repairs and maintenance, and in some cases, help better align production with demand. Not this year, though, as demand for many models is outstripping what Ford, Chrysler and General Motors plants can produce.
Ford has announced that it will shorten its annual summer shutdown for most North American plants from two weeks to one. The shorter shutdown will increase the carmaker's annual North American production by 40,000 units on top of the 200,000 extra units that it was already planning to produce this year versus last. Automotive News reports that Ford produced 2.8 million vehicles on this continent in 2012, and that output this year has already increased 13 percent through April.
Chrysler, meanwhile, is also operating at full tilt and plans to run some plants through the summer with no shutdown at all. Those not getting a break include Jefferson North where the Jeep Grand Cherokee and Dodge Durango are assembled, Toledo North that will assemble the new Cherokee, and Conner Avenue, home of SRT Viper production. Other assembly plants will be down for a single week, while all of Chrysler's engine and transmission plants except one in Indiana will continue operating with no shutdown this summer.

Ferrari officially files SEC paperwork to register future IPO

Late last year FCA announced plans to spin off Ferrari into a separate company, and after a long wait that process has finally become official. The Prancing Horse has now filed the necessary prospectus and other documents with the Securities and Exchange Commission to hold an initial public offering on The New York Stock Exchange. The paperwork doesn't mention a specific date for the Italian sportscar maker's IPO, but it's expected sometime in October. At this point, the documents also don't include some other vital data about the IPO. Ferrari lists neither the number of shares being offered nor their price. The company also doesn't have a stock symbol yet. UBS, BofA Merrill Lynch and Santander are acting as joint book runners for the deal. As part of the IPO, FCA initially intends to sell 10 percent of Ferrari's shares on the stock market. Another 10 percent of the company still belongs to Piero Ferrari. FCA is holding onto the remaining 80 percent in the short term for financial reasons but intends to distribute them to shareholders in early 2016. After the spin-off, about 24 percent of Ferrari would be owned by Exor, 10 percent by Piero Ferrari, and 66 percent by public shareholders, according to the SEC documents. FCA boss Sergio Marchionne believes that Ferrari could be worth over $11 billion. Although, his estimate might be slightly high. According to Reuters, Wall Street is actually putting the value somewhere between $5.5 billion and $11 billion. If you're thinking about investing in the company or just want to read the nitty-gritty about the brand's financial health, the entire SEC filing can be read here. Ferrari Files for Initial Public Offering LONDON, July 23, 2015 /PRNewswire/ -- Fiat Chrysler Automobiles N.V. ("FCA") announced today that its subsidiary, New Business Netherlands N.V. (to be renamed Ferrari N.V.), has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission ("SEC") for a proposed initial public offering of common shares currently held by FCA. The number of common shares to be offered and the price range for the proposed offering have not yet been determined, although the proposed offering is not expected to exceed 10% of the outstanding common shares. In connection with the initial public offering, Ferrari intends to apply to list its common shares on the New York Stock Exchange.

Waymo’s autonomous vehicles are driving 25,000 miles every day

Waymo, the former Google self-driving project that spun out to become a business under Alphabet, has driven 8 million miles on public roads using its autonomous vehicles. Waymo CEO John Krafcik shared the company's milestone Friday while onstage with Nevada Governor Brian Sandoval at the National Governors Association conference in Santa Fe, N.M. The figure is notable when compared to where Waymo was less than a year ago. In November, the company announced it had reached 4 million miles, meaning the company has been able to double the number of autonomous miles driven on public roads in just eight months. Waymo's fleet of self-driving vehicles is now logging 25,000 miles every day on public roads, Krafcik said. He later tweeted out the stats along with a graphic. Waymo has 600 self-driving Chrysler Pacifica Hybrid minivans on the road in 25 cities. It's also adding 20,000 Jaguar I-Pace crossovers and has plans for another 62,000 Pacificas. The company also relies on simulation as it works to build an AI-based self-driving system that performs better than a human. In the past nine years, Waymo has "driven" more than 5 billion miles in its simulation, according to the company. That's the equivalent to 25,000 virtual cars driving all day, everyday, the company says. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. https://platform.twitter.com/widgets.js This newly shared goal signals Waymo is getting closer to launching a commercial driverless transportation service later this year. More than 400 residents in Phoenix have been trialing Waymo's technology by using an app to hail self-driving Chrysler Pacifica Hybrid minivans. The company says it plans to launch its service later this year. Waymo's driverless ride-hailing service has received the most attention. But the company is also working to apply its self-driving system to three other areas, including logistics (so trucking), making public transportation more accessible and, further off, plans to work with automakers to make personally owned vehicles. Waymo, and more specifically Krafcik, has never provided much detail about how its self-driving system would make public transportation more accessible. On Thursday, Krafcik teased a future announcement.