2014 Fiat 500l Trekking on 2040-cars

Auto blog

Junkyard Gems: 1959 Oldsmobile Super 88 Fiesta and 1971 Fiat 850 Spider

It's 1971. You're a young professional with a starter home in the suburbs, a beautiful wife, two kids, and a dog. Of course, you also have a station wagon; a 1959 Oldsmobile Super 88 Fiesta. It's not the newest car on the block, but it was an unbeatable deal. You're quickly moving up the corporate ladder, so you decide you've rightfully earned a fun little convertible to commute in. $2,200 and change gets you into a brand-new Fiat 850 Spider. It's no powerhouse, but it's considerably more affordable than an Alfa Romeo Spider and it's pretty good on gas, to boot. It's also tiny; The Italian roadster looks like a Matchbox car next to 4,600 pounds of burly, V8-powered Detroit iron. Your next-door neighbor jokes the 850 could fit in the Super 88's trunk by simply folding down the rear seats, and she's probably right. For those of us who weren't around 50 years ago, a junkyard in the heart of the Rockies has recreated the picture-perfect American driveway of the 1970s. It's a mind-blowing reminder of just how small Fiats used to be, and just how massive American wagons once were. While the 850 was green when it set sail for the United States, the Oldsmobile is still wearing its original two-tone paint job – or what's left of it. It must have been quite a looker when it was new, and every single slat on the lane-wide grille was as shiny as the finest silverware in the White House. Today, both cars are worse for the wear. There's rust on virtually every body panel, the glass is either broken or missing, and the upholstery is as dry as washed-up seaweed on a hot summer day. There's no obvious accident damage, and both cars are relatively complete, so it's not too far-fetched to assume they were brought to the yard as beaters that were lingering at the bottom of their depreciation curve. Related Video: Featured Gallery Fiat 850 and Oldsmobile 88 View 12 Photos Fiat Classics

Fiat Chrysler U.S. sales chief Reid Bigland steps down after suing company

DETROIT — Fiat Chrysler's head of U.S. sales is leaving the company after a bumpy career that saw him file a whistleblower lawsuit over a scheme to pay dealers to report fake sales numbers. The company says in a statement that Reid Bigland will leave Fiat Chrysler April 3 after 22 years with the company. He'll pursue other interests. Bigland also headed the Ram brand and Fiat Chrysler Canada. During his tenure the company saw big U.S. sales growth, mainly with the Jeep and Ram brands. But his career was marred by the sales scandal, which forced Fiat Chrysler to restate numbers and pay $40 million to settle a complaint with the U.S. Securities and Exchange Commission. Terms of BiglandÂ’s departure werenÂ’t announced, but the company said all legal matters with Bigland “have been resolved to the satisfaction of all parties involved.” FCA CEO Mike Manley thanked Bigland for his service in a company statement. “We all wish him every success in his future endeavors,” Manley said. Bigland said in the same statement that that itÂ’s been a privilege to work at FCA and with the companyÂ’s dealers. Last June, Bigland sued Fiat Chrysler alleging that it withheld 90% of his pay package because he testified in the SEC inquiry of sales reporting practices. He alleged that Fiat Chrysler Automobiles violated Michigan's Whistleblower Protection Act, retaliating against him because he testified in the probe of whether the company inflated sales and deceived stockholders. The company withheld Bigland's 2018 long-term incentive stock payout, special dividends and an annual bonus in retaliation for his testimony and because he sold some stock, according to the lawsuit. Documents say the dividends alone are worth about $1.8 million. In September Fiat Chrysler agreed to pay $40 million to settle an SEC complaint alleging that the company misled investors by overstating its monthly sales numbers over a five-year period. The company inflated sales by paying dealers to report fake numbers from 2012 to 2016, the SEC alleged in a complaint. Fiat Chrysler agreed to pay the civil penalty and to stop violating anti-fraud, reporting and internal accounting control regulations, the SEC said. The automaker did not admit or deny the agency's allegations. Fiat Chrysler said it has reviewed and refined its sales reporting procedures. The SEC said the automaker boasted about a streak of year-over-year sales increases into 2016, when the streak actually was broken in September of 2013.

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