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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

Say hi to our new long-term 2016 Fiat 500X

We always get pretty excited when a new long-term car shows up. This Fiat 500X was a very welcome addition, as it was immediately put into the summer road-trip rotation. Since it arrived a few weeks back, it has already been to "Up North" Michigan (what we call the northern part of the lower peninsula – don't ask) three times. There's an unboxing video above with the highlights, and below we'll explain in a little more detail which options we chose and why. What we got The collective brain trust here chose the top trim level, Trekking Plus. While we tend to try and avoid the fanciest model, it was cheaper to go with a Trekking Plus rather than option up a Lounge model to get everything we were really interested in. (It's confusing – check out the "Compare Packages" link on the 500X configurator to see what we mean.) The color is called Verde Toscana – that's Tuscan Green for us Americans, and we chose the brown leather instead of black. The Trekking Plus has the 2.4-liter Tigershark four-cylinder and a nine-speed automatic transmission. (More on that soon.) It also has nearly everything you can put in one of these small crossovers, including Uconnect infotainment with navigation, a separate color screen between the gauges, blind-spot monitoring, rear parking sensors with cross-traffic detection, a rearview camera, selectable driving modes, remote start, and 18-inch wheels. We also happen to think the Trekking Plus has the most attractive exterior package among the 500X lineup. The trim names (Pop, Easy, Trekking, Lounge, Trekking Plus) could use some work, though – but hey, it's Italian. What we skipped We bucked the Michigan trend and went with front-wheel drive instead of all-wheel, saving us a theoretical $1,900. We'll put winter tires on it when the snow comes, which should be all we need to get through that six-month season of bleakness. There are some extra-cost paint options, all of which add $1,000, but we decided green looked best and had a price of $0. There are two packages available on the Trekking Plus – the imaginatively named Collection 1 and Collection 2 – but neither really appealed to us, so we skipped them. So you know what we're missing out on, Collection 1 is a big dual-pane sunroof and Beats audio, while Collection 2 is the same dual-pane sunroof packaged with auto high-beams, automatic wipers, lane departure with lane-keeping, and forward-collision braking.

Interested, then not: Marchionne not 'chasing' a VW merger

Update (March 15, 2017) : Automotive News reports that FCA CEO Sergio Marchionne, regarding the suggested VW and FCA merger, said in a press conference "I have no interest." He also said that he "will not call Matthias," the CEO of VW. He did add that he would be willing to entertain anything VW brings up, but he has "no intention of chasing him." Despite this, Marchionne still took a moment to reinforce his favorable stance concerning mergers and consolidation. Last week, Volkswagen's CEO Matthias Mueller effectively shut down Fiat Chrysler CEO Sergio Marchionne's idea of the two automakers merging. However, it seems Mueller has softened, if only just, to the idea. According to Reuters, the CEO said in a press conference he is "not ruling out a conversation." However, he did say that he would like Marchionne to discuss with him directly the possibility rather than to the media. Though this statement certainly doesn't mean such a merger is happening, it's far more open than when he said outright the company isn't in any talks with anyone at the moment. His new stance also indicates that there may be people (lawyers, accountants, etc.) behind the scenes working out possible ways a merger could work. And even though this new development makes the prospect of a merger between the two companies a bit less bleak, it's still a long way from the "will they, won't they" relationship between GM and FCA. FCA's pursuit of GM involved emailing CEO Mary Barra and the threats of a hostile takeover, the latter of which resulted in some awkward statements about hugs. Only time will tell if VW becomes open enough for Marchionne to talk about hugs again. Related Video: