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2022 Fiat 500X gets Yacht Club Capri special edition

Fifteen years ago, Fiat released a product roadmap identifying 10 new models to appear between 2007 and 2010 that would join seven extant models across Europe and the U.S. Today, Fiat's home market of Italy only sells five models, three of them versions of the 500, and the U.S. has just one, the 500X. As for that model, it sold 1,443 units here in 2020; based on the 980 sales through the end of September this year, Fiat won't even reach that abysmal mark. Yet the show must go on, so Fiat's got two touches of flair in store for the 2022 500X. Starting small, there will be an "Al-Fresco" retractable fabric roof available for all trims. To ensure the sprezzatura a 500X driver demands, the top can be had in four colors, three of them being black, gray, or red.  The last color, blue, is reserved for the bigger news: A new Yacht Club Capri trim, a special edition model that is also blue. The model is named for the island of Capri, not far from Naples, Italy, and the numerous yachts that stop in there. Based on the penultimate Sport trim, it comes awash in Venenzia blue paint and sits on 18-inch wheels with Venezia blue accents outside, and gets Yacht Club Capri badging. Inside, Ivory leather seats with blue piping face an instrument panel with a woodgrain insert and shift lever given a satin finish. In other markets this same model is known as the Yachting Collector's Edition and is also available on the two-door all-electric 500, the build allotment limited to 500 numbered units. Fiat didn't mention limited production for the U.S. Every 500X is powered by a 1.3-liter turbocharged four-cylinder with 177 horsepower and 210 pound-feet of torque sending power to all four wheels through a nine-speed automatic. Fiat hasn't officially released pricing, but based on information found on auto pricing sites, it appears the automaker could have a $680 price increase in mind. Fiat says the current four trims will carry over, Pop, Trekking, Sport, and Trekking Plus. According to the info we found, only three are priced so far. Tentative pricing for 2022, including the whopping $1,495 destination charge, is: Pop: $28,120 Trekking: $29,255 Sport: $30,110 Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Ferrari borrows $2.6 billion to finance FCA spinoff

Ferrari announced Monday that it is borrowing about $2.6 billion to finance its spinoff from Fiat Chrysler Automobiles. Here's how it breaks down: Ferrari NV, the automaker's parent company based in the Netherlands, is taking out loans totaling 2.5 billion euros. That's equivalent to $2.64 billion at current exchange rates, and is divided between a term loan of $2.12 billion and a revolving credit facility of $529 million. The larger term loan "will be used to refinance indebtedness owing to Fiat Chrysler Automobiles," among other purposes. That ought to constitute the lion's share of the $2.38 billion which the Prancing Horse marque was, according to reports last year, slated to pay its current parent company in order to help FCA fund its ambitious growth plans. The separate line of credit is earmarked "to be used from time to time for general corporate and working capital purposes of the Ferrari group." Though Ferrari is not expected to take any other Fiat Chrysler properties with it, the "group" in this case would include its various financial services and distribution arms around the world that may have been separately incorporated. As noted in the statement below, the financial arrangement "represents a further step towards the separation of Ferrari from the FCA Group," following the separate stock issues from both companies as independent from each other. FERRARI N.V. SIGNS ˆ2.5 BILLION SYNDICATED CREDIT FACILITY Ferrari N.V. (NYSE: RACE) ("Ferrari") announced today that it has entered into a ˆ2.5 billion syndicated loan facility with a group of ten bookrunner banks. The facility comprises a bridge loan (the "Bridge Loan") and a term loan (the "Term Loan") of ˆ2 billion in aggregate and a revolving credit facility of ˆ500 million (the "RCF"). Proceeds of the Bridge Loan and Term Loan will be used to refinance indebtedness owing to Fiat Chrysler AutomobilesN.V. (NYSE: FCAU) ("FCA") and other indebtedness and for other general corporate purposes. Proceeds of the RCF may be used from time to time for general corporate and working capital purposes of the Ferrari group. The Bridge Loan has a 12 month maturity with an option for Ferrari to extend once for a six-month period. Ferrari intends to refinance the Bridge Loan prior to its maturity with longer term debt, including through capital markets or other financing transactions. The Term Loan, which comprises a majority of the total facility, and the RCF each have a maturity of five years.

Abarth marks 50 years of 595 with special edition Fiat 500

Abarth presented its original 595 at the Turin Motor Show in 1963. It was the car that put the Scorpion marque on the map and propelled the original Fiat 500 into hot hatch territory. And to mark that occasion, Fiat's performance brand is launching the special edition you see here.
Revealed here ahead of its public debut at next week's Frankfurt Motor Show, the new Abarth 595 50th Anniversary Edition packs a 1.4-liter turbo four with 180 horsepower (20 more than the standard 500 Abarth) channeled through the Abarth Competizione gearbox to the front wheels. The Scorpion brand has also retuned the suspension, fitted 305-millimeter Brembo discs, 17-inch wheels and installed a variable back-pressure exhaust.
Billed as the most powerful 595 to date, the special edition is identifiable by its matte white paint, red racing stripes and retro logos. Step inside and you'll find red leather buckets with white trim. Only 299 examples will be made, but don't go looking for this in US showrooms, as the Abarth range and the Fiat 500 upon which it's based is different in the two markets. Read more in the official press release below.