2012 Fiat 500 C Lounge Convertible 2-door 1.4l on 2040-cars

Auto blog

Fiat buying rest of Chrysler in $4.35 billion deal, IPO avoided

Chrysler will now become a wholly owned member of the Fiat family, as it's been announced that the 41.46-percent stake in the Auburn Hills, MI-based manufacturer owned by the United Auto Workers' VEBA trust fund will be sold to the Italian company. Concluding the agreement will mark the closure of a piecemeal purchase process that could have resulted in an initial public offering.
The total cost of the sale will see the VEBA healthcare trust receive $4.35 billion, $3.65 billion of which will come from Fiat. $1.75 billion of that will be cash, while an additional $1.9 billion will be part of a "special distribution." An additional $700 million will be paid over four separate installments according to reports from Automotive News Europe and USA Today, although the shares will belong to Fiat following the first payment. The deal was reportedly initially struck on Sunday (though it is just being announced today), and is being portrayed as particularly good news for Fiat and Chrysler, which have now prevented the remaining shares going to the stock market in a UAW-forced IPO.
"The unified ownership structure will now allow us to fully execute our vision of creating a global automaker that is truly unique in terms of mix of experience, perspective and know-how, a solid and open organization that will ensure all employees a challenging and rewarding environment," Fiat CEO Sergio Marchionne said in a statement.

Fiat ups Chrysler stake by 3.3%, inches closer to full control

Fiat is one step closer to completing a merger with Chrysler after exercising an option to acquire an additional 3.3 percent of the Auburn Hills-based automaker today. Automotive News reports that Fiat now controls 68.49-percent of Chrysler, which is up almost 10 percent since we last heard news of this deal back in February when Fiat talking to various banks to raise more capital in order to complete the acquisition.
The article says that Fiat is still able to increase its stake in Chrysler up to 75 percent over the next 12 months, but it sounds like CEO Sergio Marchinonne would rather purchase the remaining shares from VEBA - the retiree benefits trust - sooner rather than later. Unfortunately, the two sides still seem far from an agreement on a fair price for the rest of Chrysler, as Fiat has them valued at $4.2 billion compared to the $10.3 billion estimate from the unions that currently own the remaining stake in Chrysler.

Fiat Panda Cross is a tiny off-roader for city and country

Fiat already offered its compact Panda in a slightly off-road oriented 4X4 trim, but at the 2014 Geneva Motor Show it's debuting the Panda Cross that takes the style even farther. The Panda Cross is meant to be a utilitarian hatchback that drivers can use in the dirt if the need arises.
The Cross comes standard with an all-wheel-drive system with a standard electronic-locking differential, and for added traction, drivers can lock the diff below 30 miles per hour. Power is provided by either a 1.3-liter diesel four-cylinder with 80 horsepower and 140 pound-feet of torque or the 900-cc turbocharged two-cylinder with 90 hp and 107 lb-ft. Both engines are mated to a six-speed manual.
On the outside, the Panda Cross gets a new front air dam that looks like drilled metal and fog lights integrated into the front end. The rear is reworked with chrome tailpipes and a bumper painted to look like a skid plate. The interior is a mix of fabric and pleather seats, plus a copper-colored dashboard. The Panda Cross will be on sale in Europe this fall, but don't expect to see it Stateside. Feel free to read more in the press release below.