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Maserati looking to book 13,000 sales of new Quattroporte in 2013

Europe's continuing financial woe is forcing automakers to get creative, and while Fiat may be scaling back its volume vehicles, it's looking to ramp up production of the exclusive Maserati brand. Following the debut of a new Quattroporte sedan, Fiat wants to boost Maserati sales to 50,000 vehicles by 2015. Maserati may lose as much as €7 million ($9.05 million) this year, and Fiat is betting big on Chrysler platforms and dealers to turn that around.
Currently regarded as a low-volume boutique carmaker, Maserati sold just 6,159 units last year, and 4,700 units through three quarters of this year. For 2013, Fiat boss Sergio Marchionne is targeting 13,000 in sales of the redesigned Quattroporte alone. Fiat apparently wants the brand's low volume image to change, hoping to position it closer to BMW and Porsche in the market.
The recent unveiling of the new Quattroporte will be followed by more new vehicle launches, including a crossover utility called Levante, and a long-promised sub-Quattroporte sedan, called Ghibli. The latter will share certain components with the Chrysler 300 sedan in an effort to optimize production costs. The Ghibli will be positioned to take on the BMW 5 Series and Mercedes-Benz E-Class. It's all in an effort to turn the profit tide for Maserati and its parent company Fiat amidst European economic turmoil.

1960s Fiat 500F becomes 960-piece Lego Creator Expert kit

Properly restored, the rear-engined Fiat 500 released in 1957 is worth more than most late-model front-engined examples. Lego is making it more accessible by adding a 1960s 500F model to its Creator Expert line of kits. This isn't the first Lego Fiat 500 we've seen, but we're not sure if this official one is related to the unofficial one we last saw back in 2018. The 960-piece set measures about four inches high, nine inches long, and four inches wide, meaning it will take up quite a bit of space on your desk. Lego recreated the 500's proportions with surprising accuracy, and its designers included details like the round headlights, the chromed emblem on the front fascia, the dish-shaped hubcaps, and the vented rear decklid. It's not as realistic as a die-cast model, but it's recognizable as a 500. Opening the hood reveals the gas tank and the spare tire — just like on the real car. Lego has thankfully left out the rust that tends to develop in the battery tray, which is right behind the front fascia. Both doors open to reveal a three-spoke steering wheel with a Fiat logo, a moving gear selector, a handbrake lever you can raise and lower, as well as a folding soft top — again, just like on the actual 500F. Lower the decklid to find the Danish firm's best rendition of Fiat's air-cooled twin, which in real life develops 18 horsepower and 22 pound-feet of torque in the 500F. Zero to 60 mph (its top speed) optimistically takes about a minute if you're on flat ground with a favorable tail wind. The replica's zero-to-60-mph time depends on what you're carrying it in. It totes a suitcase on its back everywhere it goes, and the kit includes a painting of a 500 in front of the Coliseum propped up on an easel. Lego will release its Fiat 500 on March 1. Sold online and through authorized retailers, it's priced at $89.99, which makes it a bargain compared to a vintage one. The catch is that you can't take it out for gelato. If you'd rather invest in one you can drive to cars and coffee, there's a 1967 500F just like the one Lego offers in its kit listed in the Hemmings classifieds for the princely sum of $29,500, or about $27 per pound — yikes. Related Video: Featured Gallery Fiat 500F Lego kit View 14 Photos Toys/Games Fiat

Rising aluminum costs cut into Ford's profit

When Ford reports fourth-quarter results on Wednesday afternoon, it is expected to fret that rising metals costs have cut into profits, even as rivals say they have the problem under control. Aluminum prices have risen 20 percent in the last year and nearly 11 percent since Dec. 11. Steel prices have risen just over 9 percent in the last year. Ford uses more aluminum in its vehicles than its rivals. Aluminum is lighter but far more expensive than steel, closing at $2,229 per tonne on Tuesday. U.S. steel futures closed at $677 per ton (0.91 metric tonnes). Republican U.S. President Donald Trump's administration is weighing whether to impose tariffs on imported steel and aluminum, which could push prices even higher. Ford gave a disappointing earnings estimate for 2017 and 2018 last week, saying the higher costs for steel, aluminum and other metals, as well as currency volatility, could cost the company $1.6 billion in 2018. Ford shares took a dive after the announcement. Ford Chief Financial Officer Bob Shanks told analysts at a conference in Detroit last week that while the company benefited from low commodity prices in 2016, rising steel prices were now the main cause of higher costs, followed by aluminum. Shanks said the automaker at times relies on foreign currencies as a "natural hedge" for some commodities but those are now going in the opposite direction, so they are not working. A Ford spokesman added that the automaker also uses a mix of contracts, hedges and indexed buying. Industry analysts point to the spike in aluminum versus steel prices as a plausible reason for Ford's problems, especially since it uses far more of the expensive metal than other major automakers. "When you look at Ford in the context of the other automakers, aluminum drives a lot of their volume and I think that is the cause" of their rising costs, said Jeff Schuster, senior vice president of forecasting at auto consultancy LMC Automotive. Other major automakers say rising commodity costs are not much of a problem. At last week's Detroit auto show, Fiat Chrysler Automobiles NV's Chief Executive Officer Sergio Marchionne reiterated its earnings guidance for 2018 and held forth on a number of topics, but did not mention metals prices. General Motors Co gave a well-received profit outlook last week and did not mention the subject. "We view changes in raw material costs as something that is manageable," a GM spokesman said in an email.