Fiat Family Value Overtakes Tesla, GM on Marchionne Overhaul
- Fiat Chrysler, Ferrari, CNH have jumped 70% to $63.7 billion
- Surge fueled by bets Marchionne can do ‘something spectacular’
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Fiat just ain’t what it used to be, and that’s been a boon for investors, who have made the former Italian industrial conglomerate the most valuable automotive group on Wall Street amid speculation that more wheeling and dealing awaits.
“Old Fiat” now consists of three listed companies -- Fiat Chrysler Automobiles NV, Ferrari NV and CNH Industrial NV -- and their combined value rose over 70 percent this year to $63.7 billion. That’s more than 10 times the group’s worth in 2004, when Sergio Marchionne started his overhaul, and it surpasses Tesla Inc., General Motors Co. and Ford Motor Co.