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Done deal: FCA-Ferrari split? (Updated)

by Bill Cawthon on

The spin-off of Ferrari from Fiat Chrysler Automobiles N.V. was completed today. It was announced by FCA’s London headquarters; neither FCA US’ nor Ferrari’s media sites carried the item, though it may appear when the holiday break ends.

Ferrari-Exit-FCA

Other than a big cash windfall for FCA that will most likely be used to pay down debt, not much will change. An agreement between the Agnelli family’s Exor and Piero Ferrari provides, in essence, the same controlling interest, thanks to a special two-votes-per-share structure. Sergio Marchionne will continue to run the show. Ferrari will continue to trade as RACE on the New York and Milan stock exchanges.

Most Ferrari coverage now will move from Allpar.com to Acarplace.com.

Update: Bloomberg noted that Ferrari was responsible for 12% of FCA’s total profits. Owners of FCA stock (FCAU) were given one Ferrari share for every ten FCA shares. The independent Ferrari is, Bloomberg reported, the most profitable stand-alone automaker.

Bill Cawthon grew up in the auto industry in the 1950s. His Dad worked for Chrysler and Bill spent a number of Saturdays down on the plant floor at Dodge Main in Hamtramck. Bill is also the U.S. market correspondent for just-auto.com, a British auto industry publication, and a member of the Texas Auto Writers Association, which has named the Jeep Grand Cherokee the “SUV of Texas” several times and named the Ram 1500 as the “Truck of Texas” two years running.

Bill has owned five Plymouths (including the only 1962 “Texan”), one Dodge and one Chrysler and is still trying to figure out how to justify a Wrangler. He also has owned at least one of every 1:87 scale model of a Chrysler product. You can reach him directly at (206) 888-7324 or by using the form.


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