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Ferrari stock sale pegged for October, or later

The Ferrari IPO is still coming, but it won't be before Columbus Day (Monday, October 12, that is), according to Fiat Chrysler Automobiles CEO Sergio Marchionne. The outspoken exec is blaming tax reasons for the fourth-quarter date, according to a report from Reuters. Marchionne said a full year needed to pass between FCA's October 13, 2014 Wall Street debut and any additional listing. This isn't the first delay in the Ferrari IPO. FCA was originally supposed to make a 10-percent offering of Ferrari during second or third quarter of 2015, before officially pushing things back to the third quarter of this year. Now, it's unclear if Ferrari will even go public before the dawn of 2016. Related Video: News Source: ReutersImage Credit: Marco Vasini / AP Earnings/Financials Government/Legal Chrysler Ferrari Fiat Sergio Marchionne FCA fiat chrysler automobiles

FCA denies report it's pulling Chrysler brand from Japan

TOKYO - Fiat Chrysler Automobiles denied it had decided to pull the plug on the Chrysler brand in Japan, after local media reported it was planning to stop selling the US cars in the country as early as next year following years of poor sales. "Although FCA Japan has already announced its intention to concentrate its resources on the Jeep brand ahead, no decisions have been made regarding (the) Chrysler brand," the automaker said ion Monday. The Nikkei business daily reported that the European-US automaker, which also sells the Jeep, Fiat, Alfa Romeo, and Abarth brands in Japan, was close to deciding to throw in the towel on the Chrysler brand, which posted sales of less than 300 vehicles in 2016, having fallen steadily since around 2000 and are about a tenth of what they were a decade ago. FCA sells only one Chrysler model in Japan, the full-size 300s sedan, which is sold at the company's Jeep dealerships. FCA's Fiat brand, which includes smaller models, and its Jeep brand have been growing in the country. Last year they sold around 6,700 and 9,400 units, respectively, making them top 10-selling foreign branded vehicles in the Japanese market. However, foreign cars constitute a small portion of the total Japanese auto market, which is dominated by domestic brands. Last year, 295,000 foreign-branded new cars were sold in the country, roughly one-tenth of total new vehicle sales. Reporting by Naomi TajitsuRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2017 Chrysler 300S Sport Appearance Package: New York 2016 View 12 Photos Auto News Chrysler Fiat Jeep Sedan FCA

Junkyard Gem: 1976 Chrysler New Yorker Brougham Hardtop Coupe

Even after OPEC served notice that cheap oil would no longer be a given and notorious eco-fanatic Richard Nixon decreed a national 55 mph speed limit, plenty of Americans continued to buy enormous coupes equipped with big-displacement V8 engines and cubic yards of cushy upholstery as the early Malaise Era ground on during the middle 1970s. In 1976, Ford offered the Lincoln Continental Mark IV, the Mercury Marquis Brougham, and the Thunderbird. The General had too many such cars to list here, including the Buick Electra and Olds 98 Regency Coupe. Chrysler was right there in the battle for Broughamic supremacy that year, with the New Yorker Brougham at the very top of the company's prestige ziggurat. Here's a raggedy-but-still-opulent New Yorker Brougham Coupe, found in a Denver car graveyard during the winter. Just look at that spacious Whorehouse Red™ interior and its pillow-topped Corinthian Leather split-bench power seats! I admire this luxury so much that my band in the late 1980s recorded a hymn to the Chrysler New Yorker. This car appears to have the $598 (about $2,750 in 2020 dollars) St. Regis option group, which included a "boar-grain" padded vinyl roof and opera windows. A few years later, Dodge offered a full-sized model called the St. Regis. The New Yorker Brougham was the most expensive model offered by Chrysler in 1976 (the Imperial went on hiatus for the 1976 through 1980 model years, only to return as a much more modest car). The buyer of this car got rung up for at least $7,269 (about $33,520 after inflation).  Curb weight wasn't quite as high as this car's imposing bulk might suggest: 4,752 pounds. That's a bit less than a new Dodge Durango today. A junkyard shopper scored the engine, which would have been a 440-cubic-inch (7.2-liter) V8 rated at a startlingly low 205 horsepower and all the torque in the world (actually, 320 lb-ft). Numbers like that prove that we now live in the Golden Age of Car Engines; even the base V6 in the current Charger makes 292 horsepower out of half the displacement of the 440. Even in a car this swanky, any kind of an audio system cost extra (contrast that to 2020, when even the humblest econoboxes have standard-equipment Bluetooth-ready rigs with many speakers). A plain old single-speaker AM radio cost $99 ($457), while the top-of-the-line AM/FM/8-track set '76 New Yorker buyers back $375 ($1,730). This is the AM/FM stereo radio, which cost $197 ($908). Not legal for sale in California.