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Don't buy a 2016 Fiat because the 2017s will be cheaper and better equipped

If you're considering the purchase of a new Fiat, you'll want to hold off for the 2017 model year. At the very least, take note of the following for haggling purposes, because the 2017 model year will bring some significant price cuts. The price cuts were first reported by Automotive News after obtaining dealer pricing information. We reached out to Fiat, and a spokesperson was able to confirm the reduced pricing. He also gave us details on trims and packages. The gist is that the 500 hatch, convertible, and 500L all see notable discounts, and the trim levels across the range have been, well, trimmed. For 2017, Fiat 500 hatchback and convertible will only be available in Pop, Lounge, and Abarth trims. This trim reduction removes the mid-level Turbo model from the lineup, and Fiat's spokesperson confirmed the model's 135-horsepower engine will disappear as well. The good news is that the remaining models all drop significantly in price, including the 160-horsepower 500 Abarth. The Abarth will get a $2,850 price cut to start at just under $21,000 with destination. The 500 Pop and Lounge will both drop $2,000, dropping the Pop to just under $15,000 before destination, and just under $16,000 assuming the destination charges remain $995. In addition, the convertible will simply become a $1,450 option for any 500 model, which will make it a much more affordable proposition than it was when offered as a separate model. The electric 500e is the only model not to see a price cut, and will remain priced at $32,795 after destination charges and excluding tax rebates. The 2017 500L, as well as the 500X, will see available trims shrink to down to Pop, Trekking, and Lounge. The 500L doesn't see price cuts as drastic as those for the smaller 500, but it offers additional content to make up for it. The new Pop gets all the features of the higher-level 2016 Easy, along with a standard automatic transmission. Comparing a 2017 Pop with a 2016 automatic-equipped Easy will show a $1,150 reduction. The Trekking only drops by $235, but it now gets standard heated leather seats, BeatsAudio sound system, satellite radio, and Uconnect. Finally the Lounge drops $1,100 and adds 17-inch wheels, BeatsAudio, Uconnect, and satellite radio. As for the 500X, in addition to the reduced trim levels, it sees additional options. However, it won't get any price cuts. Okay, technically the base 500X Pop will start at $19,995 before destination charges, which is $5 less than the 2016 model.

Weekly Recap: FCA hit with record fine as NHTSA crackdown continues

The National Highway Traffic Safety Administration slapped Fiat Chrysler Automobiles with a record fine this week that could reach $105 million. The punishment comes after NHTSA found problems with the automaker's execution of 23 recalls that affect more than 11 million vehicles. The consent agreement, announced Sunday, calls for FCA to pay a $70-million cash fine and requires the company to spend at least $20 million over a three-year period on industry outreach programs and to beef up old recall campaigns. Failure to comply will result in another $15-million fine. FCA also agreed to federal oversight, which includes an independent monitor to oversee the company's recalls. The $70-million cash fine equals a penalty NHTSA levied on Honda in January. "Fiat Chrysler's pattern of poor performance put millions of its customers and the driving public at risk," NHTSA administrator Mark Rosekind said in a statement. "This action will provide relief to owners of defective vehicles, will help improve recall performance throughout the auto industry, and gives Fiat Chrysler the opportunity to embrace a proactive safety culture." FCA called the deal a "consensual resolution," but admitted that it "failed to timely provide an effective remedy" during certain recalls. "We are intent on rebuilding our relationship with NHTSA and we embrace the role of public safety advocate," the company said in a statement. The announcement kicked off a busy week for the automaker. NHTSA agreed FCA did not need to recall 4.7 million vehicles after an investigation failed to find defects with a power module used in some Jeep, Dodge, and Ram vehicles. A Georgia judge also reduced a civil verdict involving a death in a Jeep Grand Cherokee crash. Amid all of that, the company reported net profit of about 333 million euros, or $364 million in the second quarter on Thursday. OTHER NEWS & NOTES FCA ramps up Hellcat production Despite a decidedly legal and financial week for FCA, there was still time for the performance side of the business to briefly grab the spotlight. The automaker is more than doubling its production of the Dodge Challenger and Charger SRT Hellcats in response to strong demand. The order bank opens the second week of August and production begins in September. FCA will finish up its scheduled 2015 model-year Hellcat builds, and cancel any "unscheduled" versions, though customers will get discounted pricing for 2016.

FCA and Peugeot reportedly agree on merger

Citing a Wall Street Journal report, the Detroit Free Press says "Fiat Chrysler and PSA Groupe have agreed to merge." The Journal reported on talks between the two car companies only yesterday. It's said that Peugeot's board met yesterday to approve the deal, FCA's board met today, and an announcement could come as soon as tomorrow, Thursday. Both automakers have released statements, but neither company has released any information beyond admitting to ongoing talks. If the merger happens, the combined entity would become the world's fourth-largest carmaker with a $50 billion valuation, slotting in behind Toyota, the Volkswagen Group, and the Renault Nissan Mitsubishi alliance. Among the merger options possible, "an all-stock merger of equals" is the one analysts and Moody's seem to give the best grade. The reported merger would come about four months after FCA walked away from merger talks with Renault. FCA said the French government scuppered those talks over the role of Nissan in a reformed entity, but there were also brewing issues with French unions, and ongoing turmoil among Renault and Nissan leadership thanks to continuing fallout from ex-CEO Carlos Ghosn's arrest last year. FCA makes most of its revenue in the U.S. and rules Italy, while Peugeot is the second-best-selling automaker in Europe with its own brand in France and Opel in Germany. The two companies already have a partnership in Europe making vans, one that FCA CEO Mike Manley has spoken highly of. Among the list of obvious benefits in a potential merger, FCA would get access to Peugeot's small, modern platforms, $10.2 billion in cash, and electrified and hybrid architecture developments, the latter especially important to FCA as those are fields where it lags. Peugeot would get much easier access to the U.S. market, and the money-printing brands Jeep and Ram. A merged carmaker would have combined sales of nearly 9 million a year, based on 2018 results. By comparison, both Volkswagen and Toyota sell over 10 million cars a year, while the Renault-Nissan-Mitsubishi alliance almost 11 million. Peugeot CEO Carlos Tavares has proved he knows how to do turnarounds and mergers. After leaving a position as Carlos Ghosn's right-hand man in 2012, Tavares took over Peugeot in 2014, navigated a bailout from the French government and China's Dongfeng Motors in 2015, and turned PSA into a regional powerhouse.