Sebring Convertible 2002 Chrysler White Black Top Blue Leather Nice! on 2040-cars

Auto blog

As it did with Ferrari, Fiat Chrysler spinning off Magneti Marelli

MILAN — Fiat Chrysler said on Thursday its board had tasked management to proceed with spinning off Magneti Marelli and distributing shares in a new holding for the 99-year old parts business to FCA investors. The spinoff is part of a plan by FCA Chief Executive Sergio Marchionne to "purify" the Italian-American carmaker's portfolio and to unlock value at Magneti Marelli, which sits within FCA's components unit alongside robotics specialist Comau and castings firm Teksid, and which analysts say could be worth between 3.6 and 5 billion euros ($4.4-6.1 billion). "The separation will deliver value to FCA shareholders, while providing the operational flexibility necessary for Magneti Marelli's strategic growth in the coming years," Marchionne said in a statement. Magneti Marelli, which employs around 43,000 people and operates in 19 countries, is a diversified components supplier specialized in lighting, powertrain and electronics, and its spinoff is part of a five-year business plan FCA is due to present on June 1. "The spinoff will also allow FCA to further focus on its core portfolio while at the same time improving its capital position," Marchionne added. Marchionne has a long history of such moves. The 65-year-old was behind the spinoff and listing of trucks and tractor maker CNH Industrial and supercar brand Ferrari. The Magneti Marelli separation is expected to be completed by the end of this year or early 2019, with shares in the company expected to be listed on the Milan stock exchange. FCA's advisers initially looked at a possible initial public offering for the business to raise cash to cut FCA's debt, but the Agnelli family - FCA's main shareholder - were put off by low industry valuations and did not want their stake in Magneti Marelli to be diluted, three sources close to the matter told Reuters last month. Magneti Marelli has often been touted as a takeover target and FCA has fielded interest from various rivals and private equity firms over the years. South Korea's Samsung Electronics made a bid approach in 2016 but negotiations fell through as it was only interested in parts of the business, other sources have said. The spinoff is subject to regulatory approvals, tax and legal considerations and a final approval by the FCA board. The carmaker may modify or call off the transaction at any time and for any reason, it added.

U.S.-Mexico border congestion is complicating automakers' lives

No matter where you fall on the political spectrum, there’s no denying that the U.S. has some significant challenges at its southern border. The droves of people attempting to cross the border from Mexico into the U.S. have complicated trade between the two countries as border authoritiesÂ’ limited resources and increasing political scrutiny have made it difficult to move goods. While that will have an impact on the prices of several consumer goods, it will also slow vehicle and parts shipments needed to keep the U.S. auto industry running. Automotive News reported that the Texas border has been particularly slow, as the state has implemented new screening measures for illegal crossings and drugs. That extra effort has had a severe impact on border logistics, to the point that Bloomberg estimated 19,000 trucks and $1.9 billion in cargo were stranded in Mexico waiting to cross. Officials said the delays have created wait times of up to 24 hours and a line of trucks 14 miles long. The delays will likely have a noticeable impact on the U.S. auto industry. Mexico manufactures millions of cars each year, the majority of which end up here. Nissan, General Motors, Stellantis and others have noted slight delays, but thereÂ’s little wiggle room for the Big 3 while the UAW strike rages on. Should the strike end, slowness at the border would make it difficult to ramp up production and make up for lost time. There have been some promising signs in recent times, such as the Bridge of the Americas between El Paso, Texas, and Ciudad Juarez, Mexico, reopening after a three-week closure. Still, the challenges created by border congestion have led some to take drastic measures. A few manufacturers have begun flying parts over the border, while General Motors noted that it was shipping components “on a limited basis” by sea. Related Video:

2024 Chrysler Pacifica Review: Plug-In Hybrid is still the one to get

Pros: Unique plug-in hybrid; versatile Stow ‘n Go seats; great entertainment features; good looks Cons: No cheaper base trim; top trims and Hybrid are really expensive; less-comfy second-row Stow ‘n Go seats Wow, does time fly by. The 2024 Chrysler Pacifica represents the eighth(!) model year since ChryslerÂ’s iconic minivan lineup was reborn under a single newish name with handsome styling, state-of-the-art features and a plug-in hybrid powertrain that provided unrivaled fuel economy for a three-row family vehicle. Turns out Chrysler did a pretty bang-up job all those years ago, because for 2024, the Pacifica remains a fully competitive and appealing minivan that doesnÂ’t seem long in the tooth. True, the revolutionary Pacifica Plug-In Hybrid makes a more compelling case for itself since no competitor matches it. Even the excellent, hybrid-only Toyota Sienna doesnÂ’t offer the all-electric range of the Plug-In Pacifica. The superior fuel economy offered by both, however, is the key reason why they are our top minivan choices. We ultimately give the nod to the Toyota due to interior versatility and the Plug-InÂ’s hefty price increase last year (2024 pricing was not available at the time of this writing, but since when do cars get less expensive year to year?). As for the standard, V6-only Pacifica, it still stands out from the pack with its user-friendly technology (for those up front and in back), attractive interior style, well-mannered driving dynamics, and unique Stow ‘n Go second-row seats you canÂ’t get in the hybrid. ThereÂ’s a lot to like, but then the same can be said of the Sienna, Kia Carnival and Honda Odyssey. The Pacifica may not be long in the tooth, but its competition has caught up or surpassed it in some respects, so cross-shopping is a must. Interior & Technology   |   Passenger & Cargo Space   |   Performance & Fuel Economy What it's like to drive   |   Pricing & Trim Levels   |   Crash Ratings & Safety Features What's new for 2024? The Pacifica Hybrid has been officially renamed the Pacifica Plug-In Hybrid, but itÂ’s always been a plug-in hybrid, so thereÂ’s nothing functionally new about it. Its trim levels do get reduced by one, with a new Select trim level joining the carry-over Pinnacle. Speaking of that trim level, it gets a new exclusive “Sepia” interior color, with quilted leather seats accented with “Light Diesel stitching and Sydney Gray piping.” Fancy.