2012 Fiat 500 Abarth Dealer Customized, 227 Hp, Custom Ecu, Custom Wheels, More! on 2040-cars

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Marchionne backs off merger plans, could retire after 2018

FCA boss Sergio Marchionne is stepping back from plans to attempt a major auto industry merger like the oft-speculated deal with General Motors last year. According to Bloomberg, Marchionne now wants to grow his automaker through 2018, and then the 63-year-old could retire around the end of that year. Marchionne claims he received merger proposals last year, but he couldn't find an attractive enough partnership. "We went back to concentrate on the 2018 plan which would boost Fiat Chrysler's value and its position in a deal," he said to Bloomberg. He still believes that a big merger is possible, but "it will be someone else's duty," he said after previously hinting about possibly staying at FCA until 2020. Marchionne was clear that any chance for the GM merger was likely over. "I met Mary Barra less than a month ago in Washington," he told Bloomberg. "I don't think I will have another coffee with her. It won't happen again in the future." Now, the boss intends to spend the rest of his time at FCA building the automaker through its five-year plan, and his goal is to grow global deliveries to seven million units a year by 2018. To make that happen, the automaker will invest around $52 billion over that time to improve its brands' product slate. Marchionne began backtracking from the possible GM merger late in 2015 after it became clear that The General's board wasn't interested. Earlier in the year, he seemed more aggressive about the prospect by suggesting a hostile takeover with a bizarre metaphor about giving the company a hug. Related Video: News Source: BloombergImage Credit: Richard Drew / AP Photo Chrysler Fiat GM Sergio Marchionne FCA fca us

2019 Fiat 124 Spider Abarth will at least look and sound faster

Fiat is bringing a slew of new options and appearances to the 2019 124 Spider Abarth. It's nowhere near as comprehensive as the 2019 Mazda Miata MX-5 refresh, though, with an optional dual-mode exhaust and appearance customizability headlining the changes. Named the "Record Monza Exhaust," the $995 dual-mode pipes add noise, but not power. We're still dealing with the same 164 hp and 184 lb-ft of torque here. The exhaust changes tone with throttle application — so punch it if you want to hear the little 1.4-liter turbo-four growl. The loud mode, which is only available on the Abarth trim, completely bypasses the muffler, so expect a noise similar to the raucous soundtrack emanating from the 500 Abarth. Further Abarth changes for 2019 include the addition of an optional Veleno appearance package. This will net you a bunch of red-painted trim including the mirror caps, red lower fascia lip and front tow hook. Abarth-branded floormats and an aluminum footrest round out the Veleno package. All that gear will run you $495. If you don't opt for the Abarth, then Fiat will be happy to sell you a "Double Rally Stripe" on the Classica trim for 2019. The stripe can be ordered in either red or white, and will set you back $295. Pricing ticks up $300 for the Lusso trim, and is only stated as "under $30,000" for the Abarth so far — it currently stickers for $29,290.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2019 Fiat 124 Spider Image Credit: Fiat Fiat Convertible Performance abarth 124 spider

Stellantis is official: FCA and PSA merger finally sealed

MILAN — Fiat Chrysler and PSA sealed their long-awaited merger on Saturday to create Stellantis, the world's fourth-largest auto group with deep enough pockets to fund the shift to electric driving and take on bigger rivals Toyota and Volkswagen. It took over a year for the Italian-American and French automakers to finalize the $52 billion deal, during which the global economy was upended by the COVID-19 pandemic. They first announced plans to merge in October 2019, to create a group with annual sales of around 8.1 million vehicles. "The merger between Peugeot S.A. and Fiat Chrysler Automobiles N.V. that will lead the path to the creation of Stellantis N.V. became effective today," the two automakers said in a statement. Shares in Stellantis, which will be headed by current PSA Chief Executive Carlos Tavares, will start trading in Milan and Paris on Monday, and in New York on Tuesday. Now analysts and investors are turning their focus to how Tavares plans to address the huge challenges facing the group – from excess production capacity to a woeful performance in China. Tavares will hold his first press conference as Stellantis CEO on Tuesday, after ringing NYSE's bell with Chairman John Elkann. FCA and PSA have said Stellantis can cut annual costs by over 5 billion euros ($6.1 billion) without plant closures, and investors will be keen for more details on how it will do this. Marco Santino, a partner at consultants Oliver Wyman, said he expected Tavares to disclose the outlines of his action plan soon, but without divulging too many details at first. "He has proven to be the kind of person who prefers action to words, so I don't think he will make loud statements or try to over-sell targets," he said. Like all global automakers, Stellantis needs to invest billions in the years ahead to transform its vehicle range for the electric era. But other pressing tasks loom, including reviving the group's lagging fortunes in China, rationalizing its huge global empire and addressing massive overcapacity. "It will be a step by step process, also to allow the market to better appreciate every single move. I don't think we will have all the details before one year," Santino said.