Fiat Share Prices Fall as European Banks Become More Weary

 

The CEO of Fiat, Sergio Marchionne had recently announced that he was interested in acquiring the rest of Chrysler, and completely merge the two companies. However, this ‘announcement’ has made two European banks become more weary of the situation, and so, they`ve downgraded Fiat’s stock.

One bank, UBS AG, is changing the status of the company’s stock from a ‘buy’ rating, to a ‘neutral’ rating, while Deutsche Bank changed the stocks’ status from ‘hold’ to ‘sell. Now, as Chrysler is currently much more profitable than Fiat, and dragging it along for the ride, Marchionne is undoubtedly keen to get more of the profits of the American market, which is working much better than the one in Euope, and will do so for at least another two or three years, according to analysts.

Also, this past Tuesday, Fiat shares fell by 5.9%, the event which prompted the two aforementioned banks to react. They still need somewhere in the eregion of 1.6-billion to 2.9-billion euros to get the rest of Chrysler, yet it is highly doubtful that they actually have that much money to spend, given the current situation.

Story via detroitnews.com

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Fiat closing for 8 days this summer to save money

Employees at Fiat's Mirafiori, Italy headquarters will get an extra eight days of vacation this summer. Fiat says 5,400 work at the office complex where its styling center, engineering operations, sales, marketing, administrative and other functions are housed.

The company said it hopes to save as much as $1.25 million a day by shutting down June 14-15, June 20-21 and another four days in July. Then, as usual, the HQ will shut down the entire month of August for summer vacation.

During those eight additional vacation days, Fiat workers will still be paid about 80 percent of their normal wage through the country's Cassa Integrazione layoff program.

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Cash-Strapped Fiat Temporarily Closes Europe HQ

Fiat is tightening all loose screws and battening the hatches, as they get ready for what will undoubtably be one of the worst sales years for the European market.

The company has a number of revival projects on the table including bringing the Alfa Romeo brand to the US in what will most likely be a couple of years. They have also signed new, more flexible labour agreements with the Italian unions, but it might be a bit too late for its white collar workers.

According to AutoNews Europe, the Italian automaker will close its European headquarters and send its workers there on a prolonged summer break this year.

Over a period of eight working days in the next two months, the Mirafiori headquarters, saving the company an estimated $10 million in costs. The plant will be closed on June 14-15, June 20-21 and for four more days in July that have yet to be announced.

Thankfully for the 5,400 Fiat employees, they will receive about 80 percent of their regular pay.

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Fiat 500 Coupe Zagato Rumored to Reach Production in 2013

Great news for car lovers across the world! The stunningly pretty Fiat 500 Zagato Coupe may start rolling off the assembly line next year, according to a production schedule for the entire Fiat-Chrysler gorup, made available at automobilemag.com earlier this week.

The Zagato was shown last year’s Geneva Motor Show, and everybody loved it - we’ve yet to see one bad word written about it. The car was different to the standard 500 thanks to its very sleek double-bubble roof which gave it a much sportier profile, despite the car’s small wheelbase (which makes the standard car look a bit tall from some angles) - not a bad thing, though as parking will never be an issue again in this car. Nor will finding it in a crowded parking lot, especially if the manufacturer retains the yellow paint job of the Geneva concept.

Despite being (called) a coupe, the car will retain the 2+2 seating arrangement, even though rear headroom will probably be compromised. We can’t wait for an official confirmation to this news, as we’ve grown weary of such (unfounded) rumors and their lack of accuracy - we do, however, think that the 500 Zagato Coupe is going to be made, because it would sell by the thousands from its very first day in the showrooms.

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Fiat 500 Abarth Buyers Put on Wait List

If you were considering buying a 2012 Fiat 500 Abarth, the high-performance version of FIAT’s small car, you’ll have to wait for more to be built. Chrysler Group says in a statement, “Dealer orders for the Abarth … exceeded the production run of this model for the 2012 model year.”

The 500 Abarth hit dealerships in April, and overall FIAT May U.S. sales were up 128 percent compared with the same month a year ago. Shoppers who want to buy a new Fiat 500 Abarth and can’t find one at their local dealer will be placed on a waiting list for the 2013 model, “with those cars expected to arrive in the fall,” Autoblog reports.

Starting at $22,000, the Abarth costs $6,500 more than the base Fiat 500, and at an Abarth press event in March, Matt Davis, head of FIAT product marketing, said the 500 Abarth fills a niche in the market. “It’s like the Italian sports car for the everyday driver,” Davis said. “… it’s like the guy that wants 34 miles per gallon that wants to have fun on his daily commute. And at the same time, if he finds a track, he can take it there and let it rip.”

The Detroit News says the Abarth’s high demand is partly a result of “rave reviews in a number of leading automotive publications.”

The Abarth's strong demand might also be attributed to FIAT's ads for the compact car. After the 500 Abarth’s Super Bowl commercial aired, which featured supermodel Catrinel Menghia, we saw a pageview increase of almost 205 percent for the 2012 Fiat 500 compared with the prior weekend. Meanwhile, Edmunds.com recorded a 3,354 percent increase in pageviews of their review of the Fiat 500.

Since the Abarth model is in such high demand, FIAT isn’t offering any lease deals or low interest rates on it this month, but the 2012 Mini Cooper S, the Abarth’s closest rival, is available with 0.9 percent financing for three years. The base 2012 500 can be leased for $199 a month and the convertible model for $299 a month, both for 42 months with $0 due at signing.

Shopping for a FIAT or an affordable small car? Check out the U.S. News rankings of this year's best cars. Then, look for a great deal on a new car by checking out this month’s best car deals. You can also find the best local prices in the area by using our Best Price Program. Also, be sure to follow us on Twitter and Facebook.

Via: usnews

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Fiat 500L to Be Powered by 105 HP TwinAir Engine

Fiat’s turbocharged V-twin engine is currently available on the 500 and the Punto and it delivers 85 hp - enough, as both cars are relatively small and light and it seems that the unit is set to spread further in Fiat's range.

However, Fiat’s five-door 500L is quite a bit bigger (and taller) than the regular 500, so it will also be available with a more powerful 105 hp version of the 0.9-liter engine, as well as the standard 85 hp version. The higher-powered version will achieve CO2 emissions of 112 g/km, with official fuel efficiency figures yet to be released, but they are expected to be very similar to the lower-powered version. Another version of the TwinAir motor will be made available on Fiat’s Panda, but this one will be a bit different to the other two, as it will run on LPG and make 80 hp. This gas-powered engine will also be made available on the 500L, but only from 2013 onward.

Reports have also suggested that the group is also working on a small hybrid system which is already at the end of its development cycle. Sadly, we currently only know that it will be coupled to a DCT (dual clutch transmission) and it will feature the TwinAir engine as a base. It is also expected to be used in the 500, as it’s a system designed for small car uses.

Via autoedizione.com

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2012 Fiat 500 Abarth sold out

Eager to get your hands on the 2012 Fiat 500 Abarth? Get in line, and be warned: you're going to have to wait.

According to The Detroit News, Chrysler has stopped taking wholesale orders on the 2012 model year 500 Abarth. According to sources within the automaker, customers who plunk down the money for the hotted-up 500 right now will be put on the 2013 model year waiting list, with those cars expected to arrive in the fall. In a statement to the Motown newspaper, Chrysler officials simply said that the number of orders received "exceeded the production run of this model for the 2012 model year."

Chrysler had originally planned to build about 1,000 Abarth models for the 2012 model year. However, those cars were all spoken for by the end of April – the Abarth's first month on sale – so the automaker upped production to 3,000 units. According to the Detroit News, this was the maximum number of units that the Fiat factory in Toluca, Mexico could handle. 

Via: The Detroit News

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Fiat Reveals Abarth Punto SuperSport Details

Renault’s Clio RS doesn’t really have any natural rivals in its class - it’s that good. It even challenges cars onc class up, like the Golf GTI, Honda Civic Type-R and the old Ford Focus ST, for which it’s definitely a match, specially on the twisty bits.

Well, now, Fiat might be giving the Clio a decent adversary to play with, in the form of the Abarth Punto SuperSport, a car with colorful brake calipers, go-faster stripes on the body and a turbocharged 1.4-liter engine to power it along. Fiat’s Multiair engine develops 180-hp and (a very decent) 270Nm (199 lb-ft) of torque, the engine seems to be the same version of the 1.4-liter which powers the Abarth 695 Tributo Ferrari.

The engine gives the car spritely performance, enabling it to reach 100km/h (62mph) from a standstill in 7.5 seconds (0.6 seconds slower than the Clio), beofre topping out at 216Km/h (134mph), which is slightly slower than the Clio’s 223km/h (138.5mph) top speed. Technical data aside, the car gets 17-inch rims, matte black accents, a leather-wrapped steering wheel, special pedals and special floor mats.

Despite not being as quick as the Clio, the Grande Punto SuperSport is a very good looking car, and coupled with its very clever 1.4-liter engine (which is a lot more technologically advanced than the one found in the Clio) which is turbocharged, will enable its driver to hold on to gears longer, thanks to the generous torque output, and up hills and powering out of wider corners, the SuperSport will have the edge over the Clio which has an engine that needs to be worked quite hard to get the most out of.

Sadly, only 199 SuperSports will be made and they are available for purchase at a not unreasonable €21,900 ($26,000). This version was made to celebrate the current generation Grande Punto, as it will be phased out in 2014, being replaced by an all-new model.

Via: autoevolution

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