2013 Fiat 500 Abarth on 2040-cars

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As it did with Ferrari, Fiat Chrysler spinning off Magneti Marelli

MILAN — Fiat Chrysler said on Thursday its board had tasked management to proceed with spinning off Magneti Marelli and distributing shares in a new holding for the 99-year old parts business to FCA investors. The spinoff is part of a plan by FCA Chief Executive Sergio Marchionne to "purify" the Italian-American carmaker's portfolio and to unlock value at Magneti Marelli, which sits within FCA's components unit alongside robotics specialist Comau and castings firm Teksid, and which analysts say could be worth between 3.6 and 5 billion euros ($4.4-6.1 billion). "The separation will deliver value to FCA shareholders, while providing the operational flexibility necessary for Magneti Marelli's strategic growth in the coming years," Marchionne said in a statement. Magneti Marelli, which employs around 43,000 people and operates in 19 countries, is a diversified components supplier specialized in lighting, powertrain and electronics, and its spinoff is part of a five-year business plan FCA is due to present on June 1. "The spinoff will also allow FCA to further focus on its core portfolio while at the same time improving its capital position," Marchionne added. Marchionne has a long history of such moves. The 65-year-old was behind the spinoff and listing of trucks and tractor maker CNH Industrial and supercar brand Ferrari. The Magneti Marelli separation is expected to be completed by the end of this year or early 2019, with shares in the company expected to be listed on the Milan stock exchange. FCA's advisers initially looked at a possible initial public offering for the business to raise cash to cut FCA's debt, but the Agnelli family - FCA's main shareholder - were put off by low industry valuations and did not want their stake in Magneti Marelli to be diluted, three sources close to the matter told Reuters last month. Magneti Marelli has often been touted as a takeover target and FCA has fielded interest from various rivals and private equity firms over the years. South Korea's Samsung Electronics made a bid approach in 2016 but negotiations fell through as it was only interested in parts of the business, other sources have said. The spinoff is subject to regulatory approvals, tax and legal considerations and a final approval by the FCA board. The carmaker may modify or call off the transaction at any time and for any reason, it added.

Fiat hangs ten with surf-inspired 500L Vans concept

Fiat is all set to ride some waves with its new 500L Vans Concept debuting at the Vans US Open of Surfing in Huntington Beach, CA, on July 26. Inspired by the famous shoe company known to skaters and surfers the world over, the hatchback is packed with seaside style and is ready to show it off at the beach.
The first thing that jumps out about the concept is its grille. It's unlike any other 500L and sports four rings of LED driving lights that are open in the centers. "We added the circular LED DRLs to add a sense of purpose and adventure to this concept," said a Fiat spokesperson to Autoblog via email. Below them are two more foglights, and combined together they should be able keep a party going long into the night after a day of surfing.
Beyond a ton of lighting, the Vans Concept has some extra panache thanks to its three-tone color scheme. It starts with dark blue outlining the car along the bottom, white for the main portion of the body and a lighter shade of blue for the hood, mirror caps and tops of the doors. The roof gets the shoe company's' traditional checkerboard pattern, and there's a rack up there to hold two surfboards and extra gear.

New 2019 Fiat 500X bows with standard AWD, 1.3-liter turbo four

Fiat is unveiling the U.S. version of the new 2019 500X all-wheel-drive subcompact crossover this week in Los Angeles, and it deviates slightly from the European refresh version we previewed in August and its U.S. predecessor, with a new engine and standard all-wheel drive. Instead of the three gasoline engines on offer across the pond or the two stateside, U.S. consumers will get a standard 1.3-liter, direct-injection turbocharged engine that produces 177 horsepower and a best-in-class 210 pound-feet of torque. Those are higher output figures than either the comparable European 1.3-liter or the 1.4-liter, and they compare with the 180 hp and 175 lb-ft offered by the outgoing 2.4-liter Tigershark engine. The new four-cylinder is fitted with stop-start technology and the third generation of FCA's MultiAir valve-actuation technology, which controls intake-valve timing and opening to recycle exhaust gas to offer improved power and fuel efficiency. Also reflecting American trends — and don't let the gear shifter knob fool you — there's no manual transmission on offer, with power instead mated to a nine-speed fully electronic automatic transmission. Three driving modes are on offer: a baseline Auto, performance-oriented Sport, and Traction +, which maximizes low-speed traction. Looks-wise, the basics are the same, with sharper creases, new LED head- and taillights, and redesigned front and rear fascias. The U.S. version continues the plastic body cladding defining the grille surround, a shape echoed at the rear. There are three wheel options — 17-inch silver aluminum for the Trekking model, 17-inch matte black machined wheels for the Treeking Plus, and 18-inch matte anthracite machined aluminum for Trekking and Trekking Plus (Pop is the entry-level trim). There are also three new exterior colors: Italia blue, green and ivory. Fiat designers refreshed the cockpit with new seat fabrics, a new instrument cluster and a new steering wheel with mounted radio controls. It comes with standard Connect 4 with a 7-inch touchscreen radio with Apple CarPlay and Android Auto and Bluetooth features. Safety features include blind-spot monitoring, rear cross path detection and a rear backup camera with dynamic grid lines. Adaptive cruise control is offered as an option. The 500X will start at $25,785 including destination when it goes on sale next spring. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences.