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Ferrari stock demand exceeding supply

As with the Ferrari cars, so it is with shares in the company's initial public offering: When Ferrari has a limited quantity of something to sell, demand far outstrips supply. Investors told banks weeks ago that bids for the $1 billion in stock – up to 18.89 million shares – would exceed the number of shares available over the entire expected range of $48 to $52. Ten percent of the company is going on the block' Bloomberg reports that the books close on the IPO on Monday at 4:00 pm. The final price will be set on Tuesday, and trading will begin Wednesday under the ticker symbol RACE on the New York Stock Exchange. Piero Ferrari, the son of Enzo Ferrari, will hold onto the ten-percent stake he currently has in the company. Fiat Chrysler will disburse the final 80 percent to its investors sometime in 2016. In combination with spinning Ferrari off from its parent company next year, the share sale is expected to put $4 billion into Fiat Chrysler coffers, which will be used to help fuel the growth of Alfa Romeo, Jeep, and Maserati. Assuming all goes to plan, Bloomberg says Ferrari will be valued at roughly $12 billion, a number $1 billion greater than the valuation Fiat Chrysler CEO Sergio Marchionne put on Ferrari earlier this year and higher than the brand's own internal assessment. Related Video:

Samsung might buy Magneti Marelli, FCA's parts supplier

Automotive manufacturing is quickly changing as companies like Google and Apple move into the sector with new products and services. It should be no surprise that other tech companies are making moves to grab a piece of the pie. According to Bloomberg, Korean tech conglomerate Samsung is in talks to purchase major automotive parts supplier Magneti Marelli from Fiat Chrysler Automobiles. Bloomberg reports that the deal could be worth more than $3 billion. It seems that Samsung is interested in Magneti Marelli's lighting, in-car entertainment, and telematics businesses, but a full purchase of the company isn't off the table. The move would be Samsung's largest-ever purchase outside of South Korea. FCA has already started to branch out and partner with tech firms. The automaker is working with Google to build an autonomous version of the new Pacifica minivan. They hope to have the first batch on the road by the end of the year. Magneti Marelli currently supplies everything from lighting and instrument clusters for passenger vehicles to high-end electronic components for Formula One and MotoGP teams. The company, founded in Italy in 1919, employs around 38,000 workers. Although it's currently owned by FCA, in the past Magneti Marelli has worked with companies like Ford and Microsoft. The purchase could help further diversify Samsung and reduce its dependence on consumer electronics like phones and televisions. Samsung is the world's largest supplier of memory chips and TVs, but the company has taken a hit lately as sales of its smartphones have faltered. In order to keep up with rivals like Apple, the company will need to venture into new markets. Perhaps Samsung's phone expertise would translate to improved vehicle infotainment systems. FCA, on the other hand, is on an aggressive five-year plan aimed at doubling net income. CEO Sergio Marchionne is attempting to eliminate the company's debt, and selling off a major subsidiary could greatly help. A recent attempt at a merger with General Motors failed and further hurt the company's finances. FCA's stock price rose in response to the rumors of the Magneti Marelli sale. Both Samsung and FCA have declined to comment on the move. Related Video: News Source: Bloomberg Technology Rumormill Chrysler Fiat Technology FCA Samsung magnetti marelli

Dodge Grand Caravan to live in fleets through 2017

After a hard-working career of hauling around families for decades, the Dodge Grand Caravan name was set to retire in 2016 under FCA's five-year plan for the US. The decision would have put all of the automaker's focus behind the next-generation Chrysler Town & Country, but that original strategy might have changed. Now, Dodge's minivan may have to work just a few more years before it can finally shuffle off. There are set to be 2016 and 2017 model year examples of the current Grand Caravan, according to an internal FCA production document obtained by Automotive News. This report suggests no changes in the minivan between those two years, and there's no mention of the company's intentions deeper into the future. "While we've announced the Grand Caravan will eventually be the minivan that goes away, we're not going into more detail at this time," a Dodge spokesperson said to AN. For the next Town & Country, production would start in Windsor, Ontario, in late February 2016. This document also suggests a brief run of 2016 Chrysler minivans based on the current model from August 2015 until February 2016. Automotive News speculates that the reprieve for the Grand Caravan could allow that model to focus on fleets and the Canadian market while the new Town and Country gets up and running. The latest generation T&C will reportedly debut at the 2016 Detroit Auto Show and will possibly carry a higher price to befit a vehicle with a more modern platform and improved tech.