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Junkyard Gems: 1959 Oldsmobile Super 88 Fiesta and 1971 Fiat 850 Spider

It's 1971. You're a young professional with a starter home in the suburbs, a beautiful wife, two kids, and a dog. Of course, you also have a station wagon; a 1959 Oldsmobile Super 88 Fiesta. It's not the newest car on the block, but it was an unbeatable deal. You're quickly moving up the corporate ladder, so you decide you've rightfully earned a fun little convertible to commute in. $2,200 and change gets you into a brand-new Fiat 850 Spider. It's no powerhouse, but it's considerably more affordable than an Alfa Romeo Spider and it's pretty good on gas, to boot. It's also tiny; The Italian roadster looks like a Matchbox car next to 4,600 pounds of burly, V8-powered Detroit iron. Your next-door neighbor jokes the 850 could fit in the Super 88's trunk by simply folding down the rear seats, and she's probably right. For those of us who weren't around 50 years ago, a junkyard in the heart of the Rockies has recreated the picture-perfect American driveway of the 1970s. It's a mind-blowing reminder of just how small Fiats used to be, and just how massive American wagons once were. While the 850 was green when it set sail for the United States, the Oldsmobile is still wearing its original two-tone paint job – or what's left of it. It must have been quite a looker when it was new, and every single slat on the lane-wide grille was as shiny as the finest silverware in the White House. Today, both cars are worse for the wear. There's rust on virtually every body panel, the glass is either broken or missing, and the upholstery is as dry as washed-up seaweed on a hot summer day. There's no obvious accident damage, and both cars are relatively complete, so it's not too far-fetched to assume they were brought to the yard as beaters that were lingering at the bottom of their depreciation curve. Related Video: Featured Gallery Fiat 850 and Oldsmobile 88 View 12 Photos Fiat Classics

PSA shares rise following FCA's breakup with Renault

Shares in Groupe PSA, parent company of automakers Peugeot, Citroen and the DS brand, rose on Thursday as analysts considered the possibility that Fiat Chrysler could turn back to PSA after withdrawing its $35 billion merger offer for Renault. "Both parties have acknowledged the need for scale or [mergers and acquisitions] and may pursue other opportunities. If Nissan was an obstacle (to an FCA-Renault deal) PSA-FCA discussions could resume," wrote brokerage Jefferies. Back in March at the Geneva Motor Show, rumors started swirling that PSA was interested in a potential merger with FCA. Mike Manley, who took over at the helm of Fiat Chrysler following the death of Sergio Marchionne, had indicated a willingness to look into potential partnership options. Of course, that was all before FCA proposed a merger with Renault — with that deal now off the table, attention naturally turns back to PSA, which is also based in France. "We expect both shares to react negatively but see FCA having wider strategic options and Renault shares more downside risk near-term," said Jefferies. According to Reuters, PSA shares were up 1.5% at the time this was published, making it the top-performing stock on France's benchmark CAC-40 Index. Renault saw its shares slump 7%. Shares for FCA fell 3% in early trading on the Milan Stock Exchange. Considering that FCA said in its statement confirming the withdraw of its merger offer with Renault that "political conditions in France do not currently exist for such a combination to proceed successfully," we have to wonder how keen the company is to begin negotiations with another French automaker like PSA. Those thoughts were similarly voiced by Bernstein Research analyst Max Warburton, who said (via Forbes), "Expect PSA to rise on unrealistic hopes it may be FCA's next date." Earnings/Financials Chrysler Fiat Mitsubishi Nissan Citroen Peugeot Renault FCA renault-nissan

Fiat 500e recalled over possible half shaft separation

The recently launched, all-electric Fiat 500e is already facing its first recall. According to The Detroit News, more than 270 of the EVs are being recalled to replace bolts that secure the vehicles' half shafts. The official number of affected vehicles has not been announced as of this writing, as Chrysler will not inform the National Highway Traffic Safety Administration of this issue until it accounts for all problematic 500e models that are currently sitting on dealer lots.
Chrysler confirmed to the News that the problem is in no way related to the 500e's electric powertrain, simply the half shafts. The automaker launched an investigation into this problem after learning that a customer's vehicle experienced power loss. Engineers reportedly found that two assembly steps had not been completed, and that this could lead to half shaft separation.
No injuries or accidents related to this problem have been reported. Chrysler will contact owners of the affected 500e models, who will receive rental vehicles while their Fiats are being fixed. Of course, all repair work will be completed free of charge.