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Nissan tells Renault it is 'not opposed' to Fiat Chrysler merger plan

TOKYO – Nissan on Wednesday told Renault it wasn't opposed to its partner's potential $35 billion merger with Fiat Chrysler, the Nikkei newspaper said, as the two met to hash out the future of their alliance amid a deal that could upend the auto industry. The leaders of Nissan Motor Co, France's Renault SA and junior partner Mitsubishi Motors Corp gathered at Nissan's headquarters in Yokohama for a scheduled alliance meeting - one overshadowed by Fiat Chrysler's proposal this week for a merger-of-equals with Renault. The plan, which would create the world's third-largest automaker, raises difficult questions about how Nissan would fit into a radically changed alliance. Renault Chairman Jean-Dominique Senard arrived in Japan on Tuesday to discuss the proposed tie-up with Nissan, 43.4% owned by the French automaker. "We are not opposed," the Nikkei quoted an unnamed Nissan source who had attended the meeting as saying. The person also said "many details need to be worked out" before the Japanese automaker solidifies its position on the issue, the Nikkei reported. In a statement, the alliance members confirmed that they had "an open and transparent discussion" on the proposal. The deal looks designed to tackle the costs of far-reaching technological and regulatory changes, including the drive toward electric vehicles. Nissan, which has rebuffed overtures by Renault for a merger of their own despite their 20-year alliance, was blindsided by the discussions, sources have told Reuters, stoking concerns that a deal with Fiat Chrysler could weaken Nissan's relations with Renault. The tie-up also poses an additional challenge for Nissan CEO Hiroto Saikawa, already grappling with poor financial performance and an uneasy relationship with Renault after Nissan led the ousting last year of long-standing alliance chairman Carlos Ghosn. There have long been tensions between Nissan and Renault over the imbalance of power in their alliance. Nissan, the bigger company, holds a 15% non-voting stake in the French automaker, while Renault owns 43.4% of Nissan. Ahead of Wednesday's meeting, Japanese media quoted Saikawa as telling reporters that he would look at the potential opportunities afforded by a Renault-FCA merger. Credit ratings agency Moody's said it was vital for Nissan to stabilize its partnership with Renault to expand operational synergies and improve margins.

Pope Francis' Fiat 500L just sold for $82,000

A brand-new Fiat 500L will run you anywhere from about $20,000 to $25,000, depending on trim. But the one you see here just sold for $82,000 – more than four times the car's base MSRP. This isn't just any old 500L, though. This one carried Pope Francis through Philadelphia on his recent visit to the United States. The 500L sold at an auction during the Philadelphia Auto Show, where bidders could participate remotely, or in person. Nineteen bidders competed over the course of 11 minutes, and the winning bid of $82,000 was made by Michael and Kate Chapman of Chapman Auto Stores. Reuters (via Automotive News) says the money will go to benefit the Roman Catholic Archdiocese of Philadelphia. This 500L was one of six the Pope used during his visit to the US. Automotive News says the Pope originally selected the Fiat because it's frugal and efficient, and that Francis wanted to move away from some of the lavish appointments long associated with his office.

New Fiat 500 Abarth confirmed, reveal coming in November

Though it's been absent from America for a few years, the Fiat 500 continues on overseas. But the line has been strangely split. The main 500 is a recently redesigned car from the ground up, and is electric only. Meanwhile, the 500 Abarth has survived, but it's still mostly the same car introduced more than a decade ago. And the obvious question has been, will there be a new one? The answer is yes. And we're going to see it soon. The past couple of weeks, Abarth has been sharing teasers about a new product. Two of those teasers were very explicit. On Monday, it announced the product would be a new 500 Abarth, and it would be shown on November 22. And on Tuesday, it showed a glimpse of the car, which is shown at top (original teaser post below). This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Looking closely, we can see that this new Abarth is based on the electric 500. It has the same headlights that are split by the hood about 75% of the way up. It also has the circular turn signals with body color inserts. Combined with the vivid lime green and humming, electrical noises in the background, we have to assume that the new Abarth will be battery powered. Assuming the electric Abarth follows in the footsteps of its predecessor, it should have more aggressive styling, sportier suspension, and likely extra horsepower.  We won't have long to learn more with the reveal just a couple of weeks away. It's also likely going to fuel our desire to have the Fiat 500 return to America, since it offers a lot of style and solid range for not a lot of money. A part of us holds out hope that Fiat will bring it here, since according to the L.A. Auto Show press conference schedule, Fiat has a conference. We genuinely don't know what will be announced, but it sure would be great timing to announce the electric 500 for America and then drop a hot version a week later. Or it could just be a 500X update. We'll find that out even sooner. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Autoblog Short Cut: Fiat 500 Abarth Hot Lap