Economy

Ferrari hits Wall Street

Ferrari, a subsidiary of FIAT-Chrysler, debuted in Wall Street under the acronym “RACE” . The famous maker of luxury and race cars was evaluated around 10 billion dollars.

Meanwhile, FIAT-Chrysler is awaiting the EU verdict on the alleged tax advantages it was granted in Luxembourg as well as the result of the vote by its US workers on the proposed collective bargaining agreements.

The FIAT-Chrysler boss Sergio Marchionne is also pushing for a merger with General Motors, but the US carmaker does not look interested, and also Standard and Poor’s labeled Mr Marchionne’s idea as “unfeasible”.

All this news confirm that FIAT is nowadays a company having its interests in New York and Brussels, rather than Rome, Milan and Turin. However, Mr Marchionne’s drive for internationalization undeniably allowed for the Italian FIAT plants to remain open.

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