2014 Fiat 500 on 2040-cars

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Ferrari IPO could come any day now

According to Bloomberg, Fiat Chrysler Automotive Sergio Marchionne told reporters at the Toronto Global Forum that the Ferrari IPO could come any day now. "We are days away from filing the prospectus," said Marchionne, who declined to confirm whether rumors of involvement from UBS Group AG, JPMorgan Chase & Co and Goldman Sachs Group were accurate. In addition to an expected filing in New York, Marchionne hinted that a secondary filing could take place in Milan, Italy. Although the FCA Chief Executive didn't offer any expected sum for Ferrari, he had previously suggested that an IPO for the iconic Italian brand could be worth $1 billion, ringing the registers to the tune of 10 percent of the company's $11 billion valuation. According to Bloomberg, that potential sum is significantly higher than its own internal figures indicate after taking a poll of analysts who we assume must know a heck of a lot more about such things than we do. Considering how close we apparently are to the actual filing, though, we probably won't have to wait long to find out. Another hot topic any time Sergio is the subject of reporter questioning is a potential merger with General Motors or another large, full-line automaker. It seems there aren't any new revelations to reveal on the consolidation front, though Marchionne told reporters there were no plans to mount a hostile takeover of GM or any "other, less optimal" partners. Related Video: News Source: BloombergImage Credit: STR/AFP/Getty Earnings/Financials Chrysler Ferrari Fiat Sergio Marchionne FCA

Fiat 500X Pop gets Sport Appearance Package

At last November's L.A. Auto Show, Fiat debuted a new trim for the 500X compact crossover, the 500X Sport. Attempting to add a "youthful, sporty appearance" to the 500X lineup, the Sport model included the new Rovente Red color, shed the dark molding and cladding on other trims, and adopted new exterior elements like fog lights and dual chrome-finished tailpipes. The model hasn't made it to the Fiat USA site yet, but Mopar Insiders says there is more sportiness on the way for the 500X. The base Pop trim will get a Sport Appearance Package to inject some exterior pizzazz at for thousands less than the price of the Sport model. The package add the front and rear fascias from the Sport model, front fog lights, body-colored wheel arch moldings and side sills, 18-inch aluminum sport wheels, dark gray accents throughout, and "dual bright exhaust tips." As far as we can tell, the Pop with the Sport Appearance Package differs outside from the proper Sport trim by retaining the halogen projector headlights, fitting darker fog light housings, and being limited to 18-inch wheels. The standard Pop only comes with 17-inch wheels, the standard Sport trim with an 18-inch wheel but it offers an optional 19-inch wheel wrapped in Michelin rubber. Also, major options on the Pop don't change, meaning it won't offer the choice of a black roof as on the Sport trim. The Sport trim makes a host of changes to the inside, too, which the Sport Appearance Package doesn't. Buyers can order the jaunty overhaul for the Pop in four colors: Bianco White, Grigio Moda, Italia Blue, and Rovente Red. The Sport Appearance Package will cost $795, meaning one could get out for $27,030 after destination but before taxes and fees. The Sport trim was announced with an MSRP of $29,390, making it the second-most-expensive 500X in the range, above the $27,740 Trekking, below the $30,990 Trekking Plus. The Sport Appearance Package has not appeared on the Fiat USA configurator yet, but it shouldn't be far off.  Update: A previous version of this story incorrectly stated the Sport trim was not on the Fiat USA configurator. Only the Sport Appearance Package hasn't appeared yet. The mistake has been corrected. Related Video:    

Fiat recalling 2014 500L over dual-clutch transmission

Much like it did yesterday, Fiat Chrysler Automotive is announcing a voluntary recall of the five-door Fiat 500L. Where yesterday's recall covered Jeep and Dodge SUVs over performance issues with the brakes, today's bulletin is perhaps more serious. Over 19,000 500Ls equipped with the Fiat-sourced, six-speed, dual-clutch automatic are being called in for a software update that should sort out the issues some customers are experiencing with the gearbox. Those troubles mainly consist of 500Ls that won't shift out of park and don't respond or are slow to respond to commands for gear changes. There have been no reported injuries or accidents due to the problems, which investigating engineers believe is caused by a microcontroller component that doesn't react well with temperature extremes. Of the 19,500 vehicles being recalled, around 20 percent are in dealership inventories. The vast majority of the cars (18,100) are in the US, while the remaining 1,400 are up north, in Canada. Fiat will be covering the costs of the software reflash and will begin notifying customers soon. Scroll down for the official release from Fiat Chrysler. Statement: Software Update March 7, 2014 , Auburn Hills, Mich. - Chrysler Group is recalling approximately 19,500 cars to upgrade their transmission software. Chrysler Group engineers launched an investigation after reviewing reports that some vehicles equipped with dual dry clutch automatic transmissions would not shift readily out of park and/or their transmissions did not receive, or were slow to receive, an intended gear selection. Chrysler Group is unaware of any related injuries or accidents. The investigation discovered the function of one microcontroller component may be compromised by certain temperature extremes. A software update resolves the issue. Affected are certain 2014 Fiat 500L models, of which approximately 20 percent are in dealer hands. Repair costs will be borne by the Company. Affected customers – approximately 18,100 in the U.S. and 1,400 in Canada – will be contacted and advised when to schedule service. Of the total, an estimated 200 vehicles may require shift-module replacement to ensure hardware-software compatibility. Customers who remain concerned may call 1-800-853-1403.