We Finance 2007 Chrysler Pt Cruiser Auto Clean Carfax Warranty A/c Cd Kylssentry on 2040-cars

Auto blog

Ferrari raises $893M, valued at $12B

Ferrari's stock is moving as quickly on the New York Stock Exchange as the brand's iconic sports cars do on the road. The company's incredibly popular initial public offering has already raised $893.1 million by virtue of 17.18 million shares sold for $52 apiece. If the deal's underwriters buy in as well, the figure would grow to $982.4 million. Plus, even after shouldering some of FCA's debt, the automaker carries an enterprise value of $12 billion, Bloomberg reports. Just as the company starts trading on the New York Stock Exchange, the share price is already racing upward, too. As of this writing, Ferrari stock, which is listed under the symbol RACE, is priced at $57.59. At its high so far today, the value reached as high as $60.95. While Ferrari is looking strong, the big winner in this success looks to be FCA because the company should raise $4 billion in the spin-off, according to Bloomberg. With nine percent of the sports car maker on the NYSE and one percent for the underwriters, another 80 percent will be distributed to FCA investors in 2016. When that's through, Exor, the holding company for the Agnelli/Elkann family, should have the largest stake at about 30 percent. Piero Ferrari holds the remaining 10 percent and has no intention to sell it. Related Video: FCA Announces Pricing of Initial Public Offering of Ferrari N.V. Common Shares Fiat Chrysler Automobiles N.V. (NYSE: FCAU/MI: FCA) ("FCA") and its subsidiary Ferrari N.V. ("Ferrari") announce today the pricing of Ferrari's initial public offering of 17,175,000 common shares at an offering price of $52 per share for a total offering size of $893.1 million ($982.4 million if the underwriters exercise the option described below in full). The shares are expected to begin trading on the New York Stock Exchange on Wednesday, October 21, 2015, under the symbol "RACE", and closing of the offering is expected to occur on October 26, 2015. In addition, the underwriters have a 30-day option to purchase an aggregate of up to 1,717,150 common shares of Ferrari from FCA. The offering is intended to be part of a series of transactions to separate Ferrari from FCA. Following completion of this offering, FCA expects to distribute its remaining ownership interest in Ferrari to FCA shareholders at the beginning of 2016. UBS Investment Bank is acting as Global Coordinator for the offering.

Why Chrysler didn't send off 300 with Hellcat-powered model

Chrysler is sending off the 300 with a limited-edition model powered by the mighty 6.4-liter (392-cubic-inch) Hemi V8. Earlier rumors claimed that the 2023 300C could get the supercharged, 6.2-liter Hellcat V8, but a new report suggests there aren't enough engines to go around. Quoting unnamed inside sources, The Drive wrote that the available supply of Hellcat engines is already spoken for. Sister company Dodge uses the eight-cylinder in several models, including the Challenger, the Charger, and the Durango, and Ram needs it for the 1500 TRX. Enthusiasts can also buy the V8 as a crate engine. Hellcat production is coming to an end with no successor in sight so demand is high. Another issue brought up by the publication is that stuffing the Hellcat between the 300C's fenders didn't necessarily make sense from a business point of view. The big sedan shares its basic platform with the Charger, which is offered with Hellcat power, but engineers would have needed to make at least a handful of modifications to install the engine. On the other hand, Chrysler sold the 300 with the 6.4-liter Hemi V8 until the 2014 model year so the engineering work has already been completed; put simply, this is the simpler and cheaper solution. Muscle car fans hoping for a 700-plus-horsepower Chrysler sedan will need to build it themselves; like we mentioned, the Hellcat is offered as a crate engine. Buyers who score one of the 2,000 units of the 300C earmarked for our market likely won't be disappointed by its performance, however. The V8 sends 485 horsepower (up from 470 in the 300 SRT) and 470 pound-feet of torque to the rear wheels via an eight-speed automatic transmission. Chrysler quotes a 0-60-mph time of 4.3 seconds and a quarter-mile time of 12.4 seconds. Pricing for the 2023 Chrysler 300C starts at $56,595 including destination. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Watch these Super Bowl car commercials [UPDATE]

On Sunday, February 3, the New England Patriots take on the Los Angeles Rams in Super Bowl 53 at Mercedes-Benz Stadium in Atlanta, Georgia. Some will watch because of the storyline of the old-school dynasty facing off against the new-school wunderkinds, but a large chunk of people will solely be watching for the commercials. Lucky for those who slot into the latter category, many of the manufacturers release their super bowl ads ahead of time, or have simply opted to release the commercials only online. Scroll down to see what car companies have already shown their cards. Audi Audi goes the comedic route in its clip for the Big Game. It starts with a grandpa showing his grandson a gorgeous Audi e-tron GT tucked away in a garage before he's shaken awake. Turns out he was just choking on a cashew in his cubicle at his boring job. Dodge Dodge does what it knows: create enough smoke to punch more holes in the ozone layer. Set to "The Devil Went Down to Georgia (the Super Bowl is in Atlanta, get it!?), a Challenger SRT Hellcat widebody, Charger SRT Hellcat, and Durango SRT are seen ripping through a city, leaving a trail of rubber crumbs in their wakes. Genesis Genesis has not yet released a commercial prior to the Super Bowl, but it is the official luxury vehicle of the NFL. Because of this, Genesis is hosting a fan experience for 10 days before the game. It will showcase the brand's cars, offer games, and have photos opportunities and autograph days. Hyundai Jason Bateman alert! Hyundai is one of the few companies to hook a major celebrity for its advertisement, and the casting is perfect. Bateman plays a doorman who takes people to various terrible events in life, including root canals, the middle seat, and shopping for a car. The ad centers around Hyundai's Shopper Assurance, which is Hyundai's new method for car shopping. Jeep An old 1963 Jeep Gladiator finds its strength in the crusher and transforms into a a new 2020 Gladiator, with a firm declaration that the nameplate is officially back. Kia Through Kia's commercial, a young boy wonders out loud what it'd be like if the millions spent on Super Bowl commercials were used to help others.