2012 Fiat 500 Lounge Hatchback 2-door 1.4l No Reserve on 2040-cars

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Fiat To Pay $3.65 Billion For Remaining Chrysler Shares

Italian automaker Fiat SpA announced Wednesday that it reached an agreement to acquire the remaining shares of Chrysler for $3.65 billion in payments to a union-controlled trust fund. Fiat already owns 58.5 percent of Chrysler's shares, with the remaining 41.5 percent held by a United Auto Workers union trust fund that pays health care bills for retirees. Under the deal, Fiat will make an initial payment of $1.9 billion to the fund, plus an additional $1.75 billion upon closing the deal. Chrysler will also make additional payments totaling $700 million to the fund as part of an agreement with the UAW. The deal is expected to close on or before Jan. 20, according to a statement from Chrysler. Sergio Marchionne, CEO of both Fiat and Chrysler, has long sought to acquire the union's shares in order to combine the two companies. "The unified ownership structure will now allow us to fully execute our vision of creating a global automaker that is truly unique in terms of mix of experience, perspective and know-how, a solid and open organization," Marchionne said in a statement issued by Turin, Italy-based Fiat. The deal eliminates the need for an initial public offering of the union fund's stake, which analysts had previously valued at $5.6 billion. Fiat went to court last year seeking a judgment on the price, but the trial date was set for next September. Marchionne can't spend Chrysler's cash on Fiat's operations unless the companies merge. In recent months he made it clear that he preferred to settle the dispute without an IPO, but filed the paperwork for the offering in September at the trust's request. Chrysler's profits have helped prop up Fiat on the balance sheet as the Italian automaker struggles in a down European market. The Auburn Hills, Mich., automaker earned $464 million in the third quarter on U.S. sales of the Ram pickup and Jeep Grand Cherokee, its ninth-straight profitable quarter. The results boosted Fiat, which earned $260 million in the quarter. Without Chrysler's contribution, Fiat would have lost $340 million. UAW/Unions Chrysler Fiat

2016 Fiat 500X Long-Term Wrap Up | Exceeds expectations

Compact crossovers are on the rise. Most shoppers are young and the competition reflects that. Everything, from our long-term 2016 Fiat 500X to the new Toyota C-HR or the upcoming Hyundai Kona, sells just as much on style as it does on substance. Our time with the 500X shows Fiat's entry into the segment has plenty of both. It's not as compromised as something like the Nissan Juke and not as sterile as the Honda HR-V. It proved to be a solid if occasionally troublesome vehicle. What were those troubles? A few wiring issues within the steering column sent car alarms blazing in the middle of the night. The same issue turned on the wipers when using the turn signal. The issues were fixed after a couple trips to the dealer. So yes, the local Fiat dealer did indeed have to fix it again. We did not confirm if the mechanic was named Tony. Still, it was charming and exceeded most of the Autoblog staff's expectations. Based on previous experiences with Fiats, we weren't sure how the 500X would fare over a year. Not all of our long-term cars leave a lasting impression, but we were sure sorry to see this one leave. Editor-in-Chief Greg Migliore - I always enjoy a night or weekend in the 500X. In fact, it was one of my go-to sign-outs. It's functional. It looks cool inside and out, and it's easy to drive. I dig the small hatchback/crossover vibe. There's room in the trunk for plenty of stuff and the back seat is reasonable for adults. This is the kind of vehicle that could turn Americans on to Fiat. It meets their needs and it's stylishly different. I like driving it. The transmission is a little weird with its shifts, but you get used to it. Sport mode makes the car a lot more responsive and it's a nice feature. The saddle brown interior looks great and held up well, and the exterior is cute with its peering headlights and subtle curves. I actually like driving this car, as opposed to our other recent long-termer, the HR-V, which was dull, slow and lacking in character. You chose the Fiat. You had to take the Honda. Executive Producer Adam Morath - I wanted to love this car, but it just wouldn't let me. First, the good: It's the best looking of the 500 lineup, offers nice utility in a stylish, compact package. The seats aren't going to offer tons of bolstering support, but they are wide and comfortable. Visibility and spacious cabin feel are also pluses. Finally, I love that you can get unique-looking materials to cover the seats.

Nissan didn't have much say in merger talks, but it had what FCA wanted

TOKYO — Nissan wasn't consulted on the proposed merger between its alliance partner Renault and Fiat Chrysler, but the Japanese automaker's reluctance to go along may have helped bring about the surprise collapse of the talks. While Nissan Motor Co. had a weaker bargaining position from the start, with its financial performance crumbling after the arrest last year of its star executive Carlos Ghosn, it still had as its crown jewel the technology of electric vehicles and hybrids that Fiat Chrysler wanted. The board of Renault, meeting Thursday, didn't get as far as voting on the proposal, announced last week, which would have created the world's third biggest automaker, trailing only Volkswagen AG of Germany and Japan's Toyota Motor Corp. When the French government, Renault's top shareholder with a 15% stake, asked for more time to convince Nissan, Fiat Chrysler Chairman John Elkann abruptly withdrew the offer. Although analysts say reviving the talks isn't out of the question, they say trust among the players appears to have been broken. "The other companies made the mistake of underestimating Nissan's determination to say, 'No,' " said Katsuya Takeuchi, senior analyst at Mitsubishi UFJ Morgan Stanley Securities in Tokyo. The Note, an electric car with a small gas engine to charge its battery, was Japan's No. 1 selling car, the first time in 50 years that a Nissan beat Toyota and Honda. Renault and Fiat Chrysler highlighted possible synergies that come from sharing parts and research costs as the benefits of the merger. But what Fiat Chrysler lacks and really wanted was what's called in the industry "electrification technology," Takeuchi said. With emissions regulations getting stricter around the world, having such technology is crucial. Yokohama-based Nissan makes the world's best-selling electric car Leaf. Its Note, an electric car equipped with a small gas engine to charge its battery, was Japan's No. 1 selling car for the fiscal year through March, the first time in 50 years that a Nissan model beat Toyota and Honda Motor Co. for that title. Nissan is also a leader in autonomous-driving technology, another area all the automakers are trying to innovate. "Although Nissan had no say, its cautionary stance on the merger ended up being very meaningful," Takeuchi said.