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Montezemolo steps down, Marchionne steps up as chairman of Ferrari

If the history of an automaker is divided up by the mandate of its leadership, then this is surely the end of an era for Ferrari. After repeatedly locking horns with Fiat Chrysler CEO Sergio Marchionne over a variety of issues, longtime Ferrari chairman Luca di Montezemolo has announced his resignation.
Montezemolo has a long history with both Fiat and Ferrari. He started his career at the former before moving over to the latter in 1973 (only a few years Fiat took over half of Ferrari), starting out as Enzo Ferrari's assistant. He was appointed head of the Scuderia the following year, driving the team to success and subsequently taking over all of the Fiat group's racing activities. After the Prancing Horse marque struggled in the wake of its founder's death in 1988, Montezemolo was appointed to take it over in '91 and has been at the helm ever since.
Following Fiat chairman Gianni Agnelli's passing in 2003, both Montezemolo and Marchionne were named to the Fiat board. A year later, after the passing of Gianni's younger brother Umberto, Montezemolo was named chairman of the Fiat Group (to be succeeded six years later by Agnelli heir John Elkann) and Marchionne its chief executive.

Fiat 124, 500L dead for 2021; 500X gets $250 price hike

2020 is the final model year for the Fiat 124 Spider and the 500L, FCA announced Wednesday. The Miata-based roadster and family-ish hatchback will not return for 2021, slicing Fiat's U.S. portfolio to just a single model in one fell swoop.  "For the 2021 model year, the Fiat lineup will feature the Fiat 500X small crossover, which offers unique and functional Italian design, standard all-wheel-drive capability, 9-speed automatic transmission, 30 mpg highway and best-in-class 210 lb-ft of torque," Fiat said in its announcement. "The Fiat 124 Spider and the Fiat 500L will be discontinued after the 2020 model year." A joint-development project between Mazda and FCA, the reborn 124 Spider was originally supposed to be an Alfa Romeo. At what seemed like the last minute, labor issues and an Alfa product development shuffle shunted the project to Fiat. The final product was an interesting blend of Italian and Japanese style and engineering. The engine and exterior design were provided by Fiat; the platform, transmission and interior all came from Mazda. The result was a slightly heavier and more powerful roadster than the Miata on which it was based. As an added bonus, the enthusiast-friendly Abarth model, with the same upgrades Mazda offered on the MX-5 Club, was cheaper trim-for-trim, especially after Fiat's far more generous discounts. Since then, the 124's advantages have been somewhat overshadowed by improvements to the Miata, which got a more potent engine for the 2019 model year.  On the other hand, we wouldn't blame you if you'd forgotten that the 500L was still in production at all. Apart from a core group of loyal buyers, the frumpy hatchback never really caught on in the United States.  Fiat also announced several trim updates and some pricing changes for its sole remaining model. The base 500X gets a $250 price hike (up to $26,335 after a $1,495 destination charge), and Fiat is introducing new packages for the Sport model to give potential customers more flexibility.  The Fiat's platform-mate, the Jeep Renegade, remains cheaper, but its standard engine is the naturally aspirated 2.4-liter Tigershark"4-cylinder, while the 1.3-liter turbocharged engine is a $1,495 upgrade. 

Abarth 600e electric crossover previewed with 240 horsepower

The second electric member of the Abarth family is nearly ready to make its debut. Based on the Fiat 600e crossover unveiled in 2023 for the European market, it features a muscular-looking exterior design and the most powerful drivetrain the brand has ever put in a car. Finished in Hypnotic Purple, the Abarth 600e sits much lower than the Fiat-branded model. The picture released by the firm shows the Scorpionissima trim, which will be limited to 1,949 units and only offered at launch, so keep in mind that the standard car might look a little different. With that said, it gets a deeper front bumper, 20-inch wheels designed to clear bigger brakes, and a massive roof-mounted spoiler. Abarth hasn't released full technical specifications. All we know at this stage is that the 600e Scorpionissima Edition will ship with a 240-horsepower drivetrain. That figure makes it the most powerful regular-production model in the brand's history, but it doesn't tell the full story. The 600e stretches 164 inches long, so it's likely the biggest car in Abarth's history, and there's a chance it will be the heaviest as well. That's not to say it won't be fun to drive. Abarth wrapped the big wheels with sticky tires and, significantly, fitted a mechanical limited-slip differential. We'll need to be patient to find out what the 600e looks like inside; Abarth has only clarified that the model will be "loaded." More details about the Abarth 600e Scorpionissima Edition will emerge in the coming months, though nothing suggests we'll see the model in the United States. And, while the standard 600e has a gasoline-burning counterpart, it doesn't sound like the Abarth will get one. Related video: