Category: Fiat

By on January 27, 2016

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Fiat Chrysler Automobiles CEO Sergio Marchionne on Wednesday said the automaker would rely more heavily on profitable Jeeps and Rams in North America and Europe to help its business remain profitable in other sagging areas and regions.

“We are not of the view that this industry is facing an impending demise,” Marchionne said before announcing FCA’s adjusted earnings of $1.78 billion in the fourth quarter.

Marchionne and CFO Richard Palmer said Jeep’s success in North America and Europe led the company last year and would be the “bedrock” for the automaker’s future. The automaker laid out specific plans to bring forward a Jeep pickup and Wagoneer, and let wither less-profitable models such as the Chrysler 200 and Dodge Dart. Read More >

By on January 26, 2016

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On Wednesday, Fiat Chrysler Automobiles CEO Sergio Marchionne will update investors on his long-term plans and fourth-quarter profits — namely, how many Jeeps it sold — during his scheduled earnings conference call.

It’s widely expected that Sergio will address the near-certainty that Jeep will build a pickup based on the Wrangler, as well as the future for the Jeep Compass that’ll likely survive from the Patriot/Compass twin billing, and Jeep’s potential to keep afloat fledgling FCA brands such as Maserati and Alfa Romeo.

Analysts say FCA’s ambitious target of $5 billion profit by 2018 would be almost unattainable at this point.

“‘Ambitious’ is not really an adequate word to describe it, ‘fantasyland’ might be more appropriate,” Bernstein’s Max Warburton told Automotive News.

Read More >

By on January 18, 2016

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Investors say Volkswagen should have told the world they were cheating earlier because then they could have bought more Apple stock.

That, Mercedes-Benz prices new E-Class in Europe, BMW’s bigger i3 battery and Jeep soars in Europe … after the break!

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By on January 16, 2016

Recalled GM ignition switch

The man in the middle of GM’s faulty ignition switch has finally spoken, and the word “mistake” came up at least twice.

That, does anyone have the number for Google, GM and Honda may join forces, and take a cab … after the break!

Read More >

By on January 14, 2016

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An Illinois dealer said in a lawsuit filed Tuesday that Fiat Chrysler Automobiles, through its regional sales offices, was intimidating and bribing dealers to report bogus sales at the end of the month to reach inflated sales targets. Automotive News reported first on the lawsuit.

The lawsuit filed by dealers of the Napleton Automotive Group accuses FCA of conspiring to inflate sales numbers through payments of tens of thousands of dollars to the dealer in co-op advertising accounts to disguise the practice. The lawsuit says FCA uses bogus third-party data from J.D. Power and Urban Science to falsely “verify” the sales figures and report publicly that the automaker has continued monthly sales growth since it emerged from bankruptcy in 2009.

The news of the lawsuit and its allegations sunk shares of Fiat so far that trading on its stock was halted in Europe, according to the Wall Street Journal. Read More >

By on January 4, 2016

Sergio Marchionne. Photo courtesy Toledo Blade.

Fiat Chrysler Automobiles chief Sergio Marchionne told Bloomberg on Monday that his company likely wouldn’t merge with another automaker before his tenure is up in 2018.

The chief executive publicly courted General Motors in 2015 to merge two of the Big Three. GM CEO Mary Barra publicly refuted that partnership, and Marchionne seems to have gotten the hint.

“I met Mary Barra less than a month ago in Washington,” Marchionne told Bloomberg. “I don’t think I will have another coffee with her. It won’t happen again in the future.”

Read More >

By on January 3, 2016

Tesla Supercharger With Model S At Tesla Dealership

Business Insider transportation editor Matthew DeBord (formerly of Jalopnik too) said Tesla and Fiat Chrysler’s stock show both companies’ susceptibility to market volatility and that each automaker could be in dire situations if a mild recession were to rear its head again.

(Although he does note that the best return on an investment this time last year would have been a few hundred bucks into FCA’s stock.)

Tesla may have more in common with FCA than it likes in terms of market unpredictability, which could raise the specter of a merger if its Model 3 isn’t on time or if the economy takes a dive, DeBord writes. As long as Musk doesn’t talk openly about hugging Mary Barra, he may have a decent shot.

Read More >

By on December 10, 2015

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Federal regulators Thursday fined Fiat Chrysler Automobiles $70 million for under-reporting death and injury claims from vehicles as far back as 2003, officials announced in a statement. The fine is related to a September announcement from the automaker to the Transportation Department that the automaker had violated terms of the Transportation Recall Enhancement, Accountability and Documentation (TREAD) Act.

The automaker issued a statement saying it would accept the penalty and agree to a consent order that would require FCA to submit crash data from the cars.

“FCA US LLC accepts these penalties and is revising its processes to ensure regulatory compliance. However, FCA US is confident that it identified and addressed all issues that arose during the relevant time period, using alternate data sources,” the company said in a statement.

Read More >

By on December 10, 2015

2016 Fiat 500

New product is not fueling renewed American interest in Fiat Chrysler Automobiles’ namesake Fiat brand.

The 500X, the latest product added to Fiat’s U.S. lineup, was clearly the brand’s best-selling model in November 2015, but sales at the brand slipped three percent, a modest drop of 82 units. Rewind one year and Fiat’s lineup featured only two nameplates: the 500 with which the brand relaunched in 2011, and the 30-month-old 500L. Adding the 500X, a true subcompact crossover, brought in 1,833 buyers in November 2015.

But the 500 and 500L combined to generate 1,915 fewer sales in November 2015 than in November 2014, astounding losses for a brand which in November of last year suffered a twelve-month sales low.

The Fiat brand’s figures in November 2015 were worse. Read More >

By on November 18, 2015

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Finally, a Fiat in North America that isn’t a 500.

The all-new 2017 Fiat 124 Spider is what happens when you give a spectacular chassis to the Italians and let them fit it with a torque-happy turbocharged engine.

The new roadster, which is based on the Mazda MX-5 Miata, was revealed today at the 2015 Los Angeles Auto Show. It will be powered by what we all suspected — a 1.4-liter turbocharged engine with 160 horsepower and 184 lbs-ft of torque. A pair of six-speed transmissions, one manual and the other automatic, will send that turbo power to the rear wheels.

Read More >

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