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Fiat buys remaining stake in Chrysler (2014)

By Damion Smy Motor Industry 03 January 2014 13:30 Fiat has purchased the remaining stake in Chrysler to become the sole owner of the US car firm. In a deal worth £2.2billion, the Italian company bought the remaining 41.46% of Chrysler from the VEBA Trust (Voluntary Employee Beneficiary Association) made up of current and former Chrysler employees. Fiat Chief Executive Sergio Marchionne says: ‘In the life of every major organisation and its people, there are defining moments that go down in the history books.

Volkswagen Scirocco R20T – snapped ahead of reveal

VW Scirocco R20T snapped ahead of the reveal on 21st May I suppose we should consider this a ‘Tease’ from VW, because the photo we have here appears to be a track-prepared version of the new hot Scirocco, but it’s not. It is actually a full production model with a stack of track logos splatted on it. Our snapper says it was a fully trimmed car with a full road car interior.

Porsche nearing 900 orders for its 918 Spyder hybrid concept

When Porsche AG showed the 918 Spyder at the Geneva show in March, we said it was a car to “make anyone a believer in hybrid supercar tech.” Well, maybe not anyone, but Porsche now says it has almost 900 potential buyers for the two-seater hybrid prototype as the German automaker gets closer to approving production. Porsche development chief Wolfgang Duerheimer said he is confident the company will soon reach the threshold of 1,000 orders, which is how many the company needs to “make a sound business case.” The 918 has 680 hp and, according to Porsche, will get 78 mpg and run from 0 to 60 mph in 3 seconds. Porsche said it wants to double its overall vehicle sales to 150,000 in the next five years or so.