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Classic Fiat 500 Abarth, a one-of-a-kind creation, goes on show in Milan

It’s a little car with a big name: the Fiat Abarth Classiche 500 Record Monza '58. Based on the much-revered Fiat 500, specifically the 1970 edition of the “Cinquecento,” this one-off model was assembled by the Stellantis Heritage team to celebrate the centenary of the Autodromo di Monza, the Formula 1 track located in a park just outside of Milan, It was Carlo Abarth who, in 1958, shattered six records at Monza in Abarth's first-ever tuned 500. This miniature classic, colored in a subtle shade of grey/green, was displayed earlier this month at the 12th Milano AutoClassica motor show, an event focusing on classic and sports cars. The two-cylinder engine has been tuned, with displacement increased to 595cc thanks to the Abarth Classiche 595 Tuning Kit. The company says this is inspired by the original kit offered by Abarth in the 1960s. There are several cosmetic applications as well to the car: cream-colored door trim and the single racing seat — another nod to the original — trimmed in a light cream upholstery. An elegant wooden steering wheel and Jaeger dials dominate the dashboard. Besides the display in Milan, Fiat also took to the stage last week at the Los Angeles Auto Show, announcing the CinquecentoÂ’s return to the United States in an updated package: powered by battery. The electric 500e hatchback, which will apparently stay true to the CinquecentoÂ’s essence of cute, will likely be powered by a 117-hp electric motor. The U.S. version will be similar to a setup already on sale in Europe, where it carries a driving range estimate of up to 199 miles per charge. Its expected in North America in early 2024. There will even be an electric Abarth version, but whether the U.S. will get that remains to be seen.

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

2018 Fiat 500 minicar gets more expensive with the extra ponies

Fiat Chrysler is giving a big price increase to the 2018 Fiat 500 minicar, with its newly enhanced powertrain and other upgrades adding up to as much as a $1,500 premium over the outgoing versions. Taken together with a $250 boost to destination fees for most cars, SUVs and trucks in the FCA family, and it's going to cost quite a bit more to drive the Italian subcompact. CarsDirect reports that FCA bumped the starting price for the 2018 Fiat 500 Pop by $1,500 to $17,490 for the 5-speed manual and $18,485 for the six-speed automatic. The Fiat 500 Lounge will start at $20,990, which is also $1,500 more than last year, while the top-of-the-line 500 Abarth starts at $21,740, up $750. Those figures include the $250 higher destination fee, which FCA reportedly announced to dealers in March for most 2018 cars and trucks — for example, the destination fee on a Jeep Wrangler is now an eye-popping $1,445. The destination fee is what automakers charge to ship vehicles from the factory to dealers and isn't normally included in a vehicle's advertised price. The Fiat 500 destination fee is now $1,245, CarsDirect reports ( Autoblog sought confirmation and comment from FCA but hasn't received a response). Fiat, of course, is adding oomph to the 2018 version of the 500 via a turbocharged 1.4-liter four-cylinder engine that pushes horsepower up 33 percent to 135 ponies and 150 pound-feet of torque. It's also adding sportier suspension, brakes and exterior design, a sport-tuned exhaust and rearview camera, plus 16-inch aluminum wheels, fog lamps and a "Turbo" badge on the rear fascia. "It's important to note that we've added even more standard content in order to further enhance the fun-to-drive factor that our customers expect," spokesman Bryan Zvibleman tells Autoblog. The new price makes it more expensive than the 2019 Honda Fit, which starts at $17.085 including the $895 destination charge for a six-speed manual. It also follows a $2,000 cut in the base price of the 500 Pop for 2017. It will be interesting to see whether Fiat can hold steady on the new higher pricing without having to resort to discounts for the slow-selling minicar. FCA says overall U.S. sales of the Fiat brand fell 45 percent in April to 1,404 vehicles. According to CarSalesBase.com, the company has sold only 1,644 Fiat 500 coupes year to date, compared to 5,221 for the first four months of 2017, though the figures reflect the outdated 2017 model and don't include the five-door 500L.