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FCA may sell off Magneti Marelli

FCA is reportedly just days away from filing the official prospectus for the Ferrari initial public offering, and it could put the Italian sportscar maker's value at $11 billion. Although, Sergio Marchionne always seems to have another iron in the fire, and his next big deal could shed the automotive giant's Magneti Marelli parts business to the tune of $3.3 billion. According to Reuters citing anonymous insider sources, at least two private equity firms are considering joint submitting bids with firms already in the industry. This deal has reportedly been in the works for at least the last few weeks. According to Reuters, FCA already rejected a roughly $2.7-billion offer in June. Marchionne apparently wants at least the equivalent of $3.3 billion for the company. Publicly, FCA isn't talking, though. Company spokesperson Gualberto Ranieri told Reuters and reiterated to Autoblog simply that Magneti Marelli wasn't for sale. However, a move to get rid of the parts company has been discussed in the past. In 2013, the business was rumored to be part of a purported arrangement to sell Alfa Romeo to Audi. While there's no final decision yet, according to Reuters, if the Magneti Marelli sale does move forward the decision would likely come sometime after the Ferrari IPO. The company would likely be split up among the various divisions. "Everyone will take a fair share of it," one of the anonymous sources to Reuters. News Source: ReutersImage Credit: Jeff Kowalsky / Bloomberg via Getty Images Earnings/Financials Chrysler Fiat Sergio Marchionne FCA fca us magneti marelli

Fiat 124 Spider Elaborazione Abarth loses 10 hp in its journey to the US [UPDATE]

Update: A Fiat spokesperson got back to us about some questions about the Fiat 124 Spider Elaborazione Abarth, and those quotes are now in the story. The Abarth-tuned version of the Fiat 124 Spider crosses the Atlantic to debut in US spec at the New York Auto Show. The droptop gets a much longer name on these shores as the 2017 Fiat 124 Spider Elaborazione Abarth, and the trip across the ocean robs it of 10 horsepower, too. The Elaborazione Abarth in the US makes 160 horsepower and 184 pound-feet of torque from its turbocharged 1.4-liter four-cylinder. If those numbers seem familiar, it's because they are identical to the standard 124 Spider in this country. In Europe, the Abarth model makes 170 hp and 184 lb-ft from the same engine. Buyers on both continents can choose between six-speed manual or automatic gearboxes. "The engine of the EMEA [Europe, the Middle East and Africa] Abarth Spider has unique tuning developed according to European regulations, so the [horsepower] number is different," Fiat spokesperson Angela Bianchi told Autoblog. Customers in the US also appear to lose out on some European features. The reveal in Geneva seems to show Brembo brakes as standard equipment on the convertible. However, the US announcement is clear that the four-piston monoblock aluminum calipers are optional here. Bianchi told Autoblog the decision to make the Brembos optional was "a decision by the brand here based on customer preference." Other than these changes, the two models are practically identical. There continues to be a stiffer suspension with mono-tube Bilstein front and rear shocks, and the limited-slip differential helps put the power down. The Abarth's Sport Mode button also recalibrates the engine, automatic transmission, electric power steering and dynamic stability control system for better response when the driver wants it. Aesthetically, the Abarth has the same retro-sporty look on both continents, too. The black hood calls back to the original convertible. Inside, black and microfiber upholstery is standard, but options include full leather or leather and Alcantara Recaro sport seats. We'll keep an eye out for smaller changes when we see the Abarth droptop in the Big Apple.

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