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Ferrari families have 'agreement' to prevent takeover

With its initial public offering already a massive success, Ferrari is now officially a publicly traded company on the New York Stock Exchange. While anyone can buy those shares, don't expect investors to take control away from some of the top owners of the Prancing Horse anytime soon. To maintain their power, Enzo Ferrari's son, Piero, and Exor chairman John Elkann will sign a deal guaranteeing themselves nearly half of the automaker's voting rights, Bloomberg reports. As part of this arrangement, shareholders that agree to hang onto Ferrari stock for at least three years would receive additional voting rights in the company, and that would give Piero and Elkann a combined 48.7 percent of the automaker by banding together. While not quite complete control, the move should be enough to prevent a takeover of the business. "We have an agreement among the families to protect our interests in Ferrari," Piero said to Bloomberg. This agreement won't really become a concern until next year because only 10 percent of Ferrari will be traded for now. FCA will distribute another 80 percent to its shareholders in early 2016, and Elkann's Exor will be getting the largest portion of the Prancing Horse in the spin-off. Meanwhile, Piero holds the remaining 10 percent but has absolutely no intention to sell his stake in his father's business. The newly public Ferrari will push to grow volume with a goal of moving 9,000 vehicles annually by 2019. To reach that 30-percent boost, expect to see a new model every year, and some of them might use a new, modular platform that's reportedly under development. Related Video:

In the Fiat 500X, the little things leave big impressions

When it comes to evaluating cars, we at Autoblog strive to tell you about the important things like how well they handle, how fast they are, and how comfortably they ride. These are all key pieces in the good car puzzle. The thing is, some cars also have small, but endearing details that are glossed over because they won't make or break our opinions of the vehicles. But they're features that make us smile anyway, and our long-term 2016 Fiat 500X happens to have a couple of them. The other week I had the Italian crossover for a day, and when I took off for lunch, I found the first surprise between the front seats. Unlike some other automatic transmissions with manual shift gates, this one actually uses the proper, racing-style sequential layout: pull back to shift up, and push forward to shift down. Some car companies flip that pattern, which I can only assume makes more sense to people that don't think about shifting. The 500X's other little surprise came that night as I drove home, but to properly explain why I loved it, I have to first talk about a different car. I own a 1999 Mazda MX-5 Miata, and one of my favorite things about it is that I can cruise around with one hand on the steering wheel and my elbow resting on the window sill. It's the most chill driving position imaginable. Unfortunately, as beltlines have crept higher and higher, and doors have migrated farther from the edges of the seats, the opportunity to drive this way has effectively vanished. To my delight as I drove home in the 500X, I discovered the little crossover bucked the trend. I'm not sure how, but it has window sills that are prime elbow perches. Neither of these features change my overall opinion of the vehicle, but they're worth noting because Fiat didn't have to include either of them. It's just a mass-market crossover, so a racing-style shifter and a comfy window sill would probably go unnoticed by most buyers. Yet, despite those facts, some designers decided the car would be better with these details. For that reason, I'm happy to draw attention to these designers' extra effort, and I will appreciate it every time I'm behind the wheel of our 500X. Related Video:

Fiat Chrysler CEO says final merger talks with Peugeot going well

BRUSSELS — Fiat Chrysler's chief executive Michael Manley said on Wednesday that merger talks with Peugeot owner PSA  to create the world's No. 4 carmaker are progressing well and he hopes to have a deal within 12-14 months. Speaking to Reuters on the sidelines of an industry meeting, he said he doesn't expect any major obstacles that could delay a final agreement. "Talks are progressing really well," Manley said about negotiations with the French carmaker ahead of a briefing by the European automotive association (ACEA), of which he is president. His comments come a month after the two carmakers agreed to a binding deal worth about $50 billion to combine forces in response to a slowdown in global demand and mounting costs of making cleaner vehicles amid tighter emissions regulations. Manley's timeline for completing the deal by early 2021 is in line with a forecast made by the companies in December. Fiat and Peugeot are now getting into the details of how the merger will work, including choosing which vehicle platforms — the technological underpinnings of a vehicle — will fit which products in a combined company. Because customers in different locations still prefer vastly different cars, there is room for multiple platforms in a combined group, Manley said. "That global platform is an elusive beast," he added. "This concept of a massive global platform in my mind is almost a myth, but that doesnÂ’t mean to say weÂ’re not going to recruit significant volume." Related Video: