Category: High Finance

By on July 14, 2015

Volvo-V60-S60-Polestar-Models-03

Volvo has purchased Swedish high-performance tuner Polestar, the automaker announced Tuesday. The company will own and operate Polestar as an in-house performance division much like Ford’s SVT division or Subaru’s STI group (anything other than another Mercedes-AMG or BMW M Division reference).

You could be forgiven for thinking Volvo owned Polestar already — the Swedish automaker already exclusively contracted with the Swedish tuner in 2013 to produce the V60 and S60 Polestar editions and the two have worked together since the 1990s.

Volvo said in the medium-term it would double output of Polestar branded cars — which could mean more than 80 sedans and 40 wagons a year coming to the United States.

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By on July 11, 2015

sergio-marchionne

Speaking to reporters in Toronto on Friday, Fiat Chrysler Automobile chief Sergio Marchionne said the official filing to spin off Ferrari could happen within the next few days.

“We are days away from filing the prospectus,” Marchionne said, according to the Detroit News.

The future standalone supercar maker will make available 10 percent of the company through its initial public offering, which is widely expected in October. The remainder of the company will be held by Fiat investors and Enzo Ferrari’s son, Piero Lardi Ferrari, who is vice chairman of the company.

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By on July 6, 2015

Picture courtesy blogs.reuters.com

Speaking at an unrelated Fiat 500 reveal last week, Fiat-Chrysler chief Sergio Marchionne said Ferrari is worth about $11 billion and he expects the prancing horse’s IPO to garner about $1.1 billion went it goes up for sale in October.

“There are clear expectations from ourselves as Ferrari brand is unique,” Marchionne said, according to Bloomberg News. “There is also a scarcity value as we are just selling a 10 percent stake.”

Marchionne’s estimate is roughly double what brokers said the Maranello-based manufacturer could be worth almost a year ago.

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By on June 30, 2015

Mahindra XUV 500 W6 2013

Mahindra’s attempt to buy Italian design firm Pininfarina collapsed over the weekend due to opposition by the latter’s creditors.

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By on June 29, 2015

Electric Bus In Athens, Greece

Some transit authorities offer free service to encourage ridership. Greece is offering free service this week because no one has money.

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By on June 24, 2015

2013_Toyota_NDM_Akio_Toyoda_002

In a regulatory filing made Wednesday, Toyota President Akio Toyoda made ¥352 million ($2.84 million USD) in total 2014 compensation.

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By on June 23, 2015

Carlos Ghosn

Renault-Nissan CEO Carlos Ghosn did well for himself in 2014, banking around $16 million in compensation compared to the salaries of other automotive CEOs.

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By on June 18, 2015

Abarth 500

The Lifetime movie starring FCA has reached the “dangerous stalker” phase, as the automaker and General Motors recruit advisors amid a merger standoff.

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By on June 16, 2015

1989 Chrysler TC
Billionaire investor Kirk Kerkorian died Tuesday at the age of 98, leaving behind a legacy which included the automotive industry in his twilight years.

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By on June 16, 2015

National Flag of Mexico

Despite being unified on the trading front, Mexico and the Southeastern United States are besting Canada and Detroit in the automotive industry game.

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