The Truth About Cars » Italy http://www.thetruthaboutcars.com The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. Fri, 22 May 2015 19:00:59 +0000 en-US hourly 1 http://wordpress.org/?v=4.2.2 The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. The Truth About Cars no The Truth About Cars editors@ttac.com editors@ttac.com (The Truth About Cars) 2006-2009 The Truth About Cars The Truth About Cars » Italy http://www.thetruthaboutcars.com/wp-content/themes/ttac-theme/images/logo.gif http://www.thetruthaboutcars.com/category/news-blog/italy-news-blog/ The End of Italy http://www.thetruthaboutcars.com/2015/05/end-italy/ http://www.thetruthaboutcars.com/2015/05/end-italy/#comments Thu, 07 May 2015 15:00:00 +0000 http://www.thetruthaboutcars.com/?p=1058586 As FCA holds their first annual general shareholders meeting in Amsterdam (after 114 such meetings in Turin), Pirelli has been sold to the Chinese. Pininfarina negotiates its sale to Mahindra. The Italian automotive industry as a whole is in a sad state. The reasons for this are many, but the process of “de-Italianization” of the country’s […]

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Fiat 500 "Topolino"

As FCA holds their first annual general shareholders meeting in Amsterdam (after 114 such meetings in Turin), Pirelli has been sold to the Chinese. Pininfarina negotiates its sale to Mahindra. The Italian automotive industry as a whole is in a sad state. The reasons for this are many, but the process of “de-Italianization” of the country’s auto industry continues. In the end, all there could be left is a memory and many homeless ghosts.

Italy gave birth to names recognized worldwide in the automotive industry for their design and sophistication, engineering and fury. It also gave rise to many a brand focused on the simpler side, using a more utilitarian design that nonetheless spawned classics dear to any automotive enthusiast. As to the former, any car lover recognizes names like Ferrari, Lamborghini, Maserati, Ducati; while examples of the former also abound, Vespa, Iso, Innocenti and of course Fiat.

1899 FIAT 4 HP

It didn’t start out this way. Società Anonima Fabbrica Italiana Automobili Torino – or F.I.A.T. for short – was founded in 1899 by a group of noble landholders. These people were witness to the growing industrialization in their country and used their resources to slowly control and direct the process. From among these men, Giovanni Agnelli surged as the leader and soon started buying and crowding his partners out. In due course, his family controlled Fiat and do so to this day.

Initially involved in motor racing, Fiat was one of the leaders in the auto world, producing cars for the wealthy. Fiat was the spearhead into the world for the Italian automotive industry and soon set up shop in other countries, licensing their products to be made by local partners (such as in Germany) and even crossed the Atlantic Ocean in 1908 building a factory of their own in New York. Some even say Henry Ford got some of his inspiration for the assembly line watching the processes carried out by Fiat.

FS Class E626 locomotive

As time progressed, Fiat expanded and starting building locomotives, marine and airplane engines. In World War I, Fiat was a major supplier for the Allied forces. The War followed by the New York stock market crash impoverished Italy and the Italian industry changed its focus. The first Fiat 500 – better known as Topolino due to it looking like Mickey Mouse – came out. Designed by Dante Giacosa, it was one of the first people’s car and started to motorize Italy and other countries in Europe.

With the ascension of Benito Mussolini, Fiat was forced to recede back into Italy. It was rewarded by being given large government contracts and produced everything from planes to machine guns for the fascist hordes. Then Europe’s largest maker, it basically stopped production outside of Italy, though Fiat products were still built under license in other European countries.

Fiat’s success led to the development of other Italian brands. Vicenzo Lancia and Enzo Ferrari were Fiat race car drivers who of course went on to establish their own companies. Lancia in particular was very innovative building the first monococque car (the Lambda) among scores of other innovations. Those companies then spawned others. Everyone knows the story of Lamborghini. Ferruccio Lamborghini was a successful tractor maker. He bought a Ferrari and was so unsatisfied with the car (he thought its controls too heavy and a chore to drive) he went to complain to Enzo Ferrari. Enzo told him that if he, Ferruccio, thought he could build a better car, he should. And thus Lamborghini was born.

Alfa SZ AutoItalia Brooklands

Fiat’s success also birthed Alfa Romeo in a roundabout way. Jealous of Turin’s success, Italy’s most industrialized city Milan gave rise to that famous marque. It soon went on its way and became successful, establishing itself in racing (Juan Manuel Fangio started in Formula 1 with Alfa Romeo, with whom he won his first titles, then went on to Maserati, Ferrari and Mercedes Benz, winning championships with all) and gracing the garages of people of means. It also worked closely with the famous carrozzieri that were the origins of the famous Italian design houses. Zagato was a preferred partner. Many Alfa Romeo cars carry a Zagato body. So do Lancias and even Fiats. They also sit under other famous names like Bertone, Alemano, Fissore, among others. This is one of the reasons sales of those Italian cars seem unimpressive today. Besides the lower market volumes of the times, Italian cars splinter off into thousands of variations, all wearing carrozzieri’s names and not necessarily that of the makes.

Of course, to supply this budding industry, many suppliers were born. Magnetti Marelli, Comau, Pirelli, Brembo and many countless other recognizable names exist. Like most of the other Italian car makers, many of these suppliers would be incorporated into Fiat in a long drawn out process starting after World War II.

As I mentioned in the beginning of this article, Pirelli was sold off to the Chinese. That was a shock to many in Italy. Pirelli was an early partner of Ferrari and their stories are intimately linked. 7 billion euros (not to mention the 1 billion euro debt) overcame any inhibitions however.

Pininfarina Nuova Stratos

Other emerging nations are also looking to buy into Italian know-how. Mahindra is negotiating to buy Pininfarina (also closely associated to Ferrari and Fiat). Year after year of losses, debt (160 million euros) is high and the Indians could possibly soon see better looking cars on their streets. Pininfarina would have a lot of work as Mahindras are not exactly known for their stunning design.

It’s not just emerging market companies taking away Italy’s industry piece by piece. Local European vultures, or rather, partners, are also eating up the Italian industry slowly. Volkswagen has been a major profiteer or investor, depending on your point of view. It now owns Italdesign, former company of Giorgetto Giugiaro. Audi has raided Lamborghini and Ducati. Mercedes Benz has a large stake in MV Augusta. Even PSA has carved out a chunk of Bimota. In the case of the motorcycles, it’s been said the Germans are mostly interested in the light welding techniques the Italian companies use for engines and transmissions.

American companies have also taken chunks out of Italy. In 1970, Ford bought the Ghia design house, famous for VW’s Karmann Ghia, the Volvo P1800, quite a few Chryslers, and countless Fiats, Alfas and Lancias. Sadly, at Ford, Carrozzeria Ghia became a trim line and has since been forgotten in the group, being replaced with the rather more pedestrian sounding Titanium.

Ford-vs-Ferrari-Redux-placement

Ford’s interest in Italy is historic. In the mid part of the last century the Americans had a showdown with Ferrari. Interested in buying Ferrari, Enzo and Henry Ford II played power games which led to entertaining one upmanship like the famous Ford GT40 LeMan victories. On the business side, the potential loss of Ferrari led the Italian government to softly nudge it into the all-encompassing embrace of Fiat. The Italian government’s goal at the time was to strengthen the country’s auto industry.

The current piecemeal parting of Italy’s home auto industry is partly the result of recent governments’ lack of interest. At least Luca Ciferri over at Automotive News Europe thinks so. He cites the bailout of General Motors and Chrysler as examples of a government protecting its industry. He also mentions France’s recently increased 14% stake in PSA to help it ride out the current crisis. Germany fights tooth and nail whenever the EU makes moves that the Germans perceive as threatening to their makes. The British have set up a highly successful action plan, government backed, that has the UK again as one of the largest European car producers.

Meanwhile Ciferri asks, what has the Italian government done? In 2007, they had a sort of clash for clunkers scheme. Due to that program the Italian market peaked at 2.5 million units and has since been halved.

Government action or inaction isn’t the only culprit. Bertone, the reputed carrozziere and design house of Marcello Gandini fame – Miura and Countach, among many others – went bankrupt without even being taken over. Fiat’s ongoing challenging market perception and Magnetti Marelli electronics’ reputation have also been a problem. However, larger trends and currents are at play. Surely part of the problem for the Italian automotive industry is Italy’s economy itself. Recently one the “I’s” in the infamous PIIGS club, many analysts claim Italy’s economy is much larger than officially measured as a heavy government hand drives many businesses into the informal market. The adoption of the euro has not done Italy many favors. In the past, the country could hide inefficiencies behind successive lira devaluations. This is not possible any more. At the turn of the century, Italy was the fourth largest car market in the world. Today it is not even in the Top 10.

As the annual general meeting unfolds in Amsterdam and FCA CEO Sergio Marchionne again beats on his consolidation drum aiming to strike that one last deal, the halls in Turin will be dark. Ghosts of the past walk those halls reminding us of a certain flair, a peculiar lifestyle, a particular way of doing things. Around the world, other people will be using the names of the brands that promised and offered this Italian style to consumers. Ideas will be discussed in other languages, not the original. Documents will be drawn up and plans presented in foreign tongues. If those companies keep the promise of the dolce far niente lifestyle the creators of those marques created, it could strengthen that ideal. However, much is always lost in any translation. A Lamborghini dreamed in German is not the same as one imagined in Italian.

A part of the variation in the auto world is being lost. A peculiar taste and flavor will be lost. And we will all be the poorer for it.

[Image credits: Przemysław Jahr via Wikimedia Commons, Icarus83 via Wikimedia Commons, Tony Harrison (Flickr: AutoItalia Brooklands May 2012 THP_7123) [CC BY-SA 2.0], via Wikimedia Commons]

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Aston Martin All-In On SUV, Lamborghini Still On Fence http://www.thetruthaboutcars.com/2015/05/aston-martin-suv-lamborghini-still-fence/ http://www.thetruthaboutcars.com/2015/05/aston-martin-suv-lamborghini-still-fence/#comments Fri, 01 May 2015 14:00:07 +0000 http://www.thetruthaboutcars.com/?p=1058346 Aston Martin is entering the high-end luxury SUV/crossover game, while Lamborghini is still debating whether or not the LM002 needs a successor. Aston Martin Lagonda announced Thursday it would commit £200 million ($305 million USD) to expanding its lineup. The capital investment will be in the form of preference shares, with the first £100 million […]

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Aston Martin Logo

Aston Martin is entering the high-end luxury SUV/crossover game, while Lamborghini is still debating whether or not the LM002 needs a successor.

Aston Martin Lagonda announced Thursday it would commit £200 million ($305 million USD) to expanding its lineup. The capital investment will be in the form of preference shares, with the first £100 million ($152 million) already issued and the remainder doled out over the next 12 months.

What does that investment buy? A new “luxury crossover GT” based upon the DBX concept shown at the 2015 Geneva and Shanghai auto shows, for one. CEO Andy Palmer said as much in the press release:

This additional long-term funding, will enable us to add extra model lines and broaden our presence in the luxury market segment by the end of the decade. The DBX concept, has generated interest far beyond our expectations. The additional investment announced today will allow us to realise the DBX and other new luxury vehicles that will form the strongest and most diverse portfolio in our history.

Meanwhile, Lamborghini is still thinking about adding an SUV to its lineup, though no decision has been made, as CEO Stephan Winkelmann told Autoblog last month:

If we do a third model, then it’s better to have the SUV as this is a growing segment, a more emotional segment, a segment which is very well-distributed in terms of volume all over the planet. And therefore this is a car which is more likely.

The potential successor of Lamborghini’s sole outing in the SUV market – the LM002 – would have a design more appealling to current Lamborghini owners. It would also bring a significant amount of sales to the brand: the Urus concept from 2012 was projected to move 3,000 units per year; the brand itself sold 2,530 units in 2014.

Winkelmann adds the SUV would be the perfect platform for a hybrid powertrain, citing the SUV’s packaging and weight behind the reasoning.

[Photo credit: Aston Martin]

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De Tomaso Under Chinese Ownership http://www.thetruthaboutcars.com/2015/04/de-tomaso-chinese-ownership/ http://www.thetruthaboutcars.com/2015/04/de-tomaso-chinese-ownership/#comments Thu, 30 Apr 2015 15:00:19 +0000 http://www.thetruthaboutcars.com/?p=1056930 After being purchased over a month ago, De Tomaso once again finds itself with a new owner. The once-storied Italian automaker is now in the hands of Consolidated Ideal TeamVenture, a consortium of Chinese investors based out of Hong Kong with its legal headquarters in the Virgin Islands, Europe Online Magazine reports. The consortium paid […]

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DeTomaso Pantera

After being purchased over a month ago, De Tomaso once again finds itself with a new owner.

The once-storied Italian automaker is now in the hands of Consolidated Ideal TeamVenture, a consortium of Chinese investors based out of Hong Kong with its legal headquarters in the Virgin Islands, Europe Online Magazine reports. The consortium paid just over €1 million ($1.1 million USD) for De Tomaso at auction and has plans to build vehicles in China wearing the De Tomaso name.

The latest change in ownership comes after Swiss investment group L3 Holdings bought the name for €2 million ($2.2 million) last month, only to lose the rights when the group was investigated for failure to honor its financial commitments.

Other former De Tomaso owners include Gian Mario Rossignolo – who was arrested in 2012 for misuse of public funds in trying to revive the automaker – and Automobili Turismo e Sport, though the group later withdrew its bid.

[Photo credit: Jack Snell/Flickr/CC BY-ND 2.0]

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De Niro To Play Enzo Ferrari In Upcoming Biopic http://www.thetruthaboutcars.com/2015/04/de-niro-play-enzo-ferrari-upcoming-biopic/ http://www.thetruthaboutcars.com/2015/04/de-niro-play-enzo-ferrari-upcoming-biopic/#comments Fri, 10 Apr 2015 12:00:42 +0000 http://www.thetruthaboutcars.com/?p=1041689 Nearly three decades ago, Ferrari founder Enzo Ferrari passed from this mortal coil. Now, actor Robert De Niro will play him in an upcoming biopic. Motorsport reports the film — titled “Ferrari” and produced in a collaboration between De Niro’s Tribeca Enterprises and former photographer Gianni Bozzacchi’s Triworld Cinema — will be shot in Italy, […]

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Nearly three decades ago, Ferrari founder Enzo Ferrari passed from this mortal coil. Now, actor Robert De Niro will play him in an upcoming biopic.

Motorsport reports the film — titled “Ferrari” and produced in a collaboration between De Niro’s Tribeca Enterprises and former photographer Gianni Bozzacchi’s Triworld Cinema — will be shot in Italy, and will hit theatres sometime in 2016.

When interviewed by Italian newspaper Il Messaggero, De Niro had this to say about playing the legendary founder:

For me it is an honour and a joy to tell the life of an extraordinary man who revolutionised the automotive world and across historical periods.

Bozzacchi, who is producing the film, adds that “Ferrari” would have a large budget, and would be based upon “an epic story” covering the period between 1945 and 1988. Actor/director Clint Eastwood was approached to direct the project, while “Nixon” writers Stephen J Rivele and Christopher Wilkinson have also been linked.

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Mahindra & Mahindra In Negotiations To Buy Pininfarina http://www.thetruthaboutcars.com/2015/03/mahindra-mahindra-negotiations-buy-pininfarina/ http://www.thetruthaboutcars.com/2015/03/mahindra-mahindra-negotiations-buy-pininfarina/#comments Thu, 26 Mar 2015 13:00:37 +0000 http://www.thetruthaboutcars.com/?p=1029785 Pininfarina designs many things: Ferraris, scissors, Coke machines. Now, Mahindra & Mahindra wants the Italian house’s talents. Bloomberg reports the Indian manufacturer — known in the United States for its tractors and its attempt to bring its trucks over to these shores — is close to closing the deal with Pininfarina after weeks of negotiation, […]

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Pininfarina Sergio Concept

Pininfarina designs many things: Ferraris, scissors, Coke machines. Now, Mahindra & Mahindra wants the Italian house’s talents.

Bloomberg reports the Indian manufacturer — known in the United States for its tractors and its attempt to bring its trucks over to these shores — is close to closing the deal with Pininfarina after weeks of negotiation, though those negotiations still have a chance to collapse.

If successful, Mahindra could use Pininfarina to add more style to its and subsidiary Ssangyong’s offerings. The design house has worked with the manufacturer in the past, helping to develop its SUVs and designing its Halo electric sports car that was unveiled at last year’s Delhi Auto Show.

Mahindra’s bid for Pininfarina follows ChemChina’s bid for Italian tire manufacturer Pirelli in a series of foreign takeovers of Italian companies as Italy slowly emerges from its cycle of recessions.

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ChemChina, Finanzaria Buying Pirelli In €7.1B Takeover Deal http://www.thetruthaboutcars.com/2015/03/chemchina-finanzaria-buying-pirelli-7-1b-takeover-deal/ http://www.thetruthaboutcars.com/2015/03/chemchina-finanzaria-buying-pirelli-7-1b-takeover-deal/#comments Tue, 24 Mar 2015 11:00:41 +0000 http://www.thetruthaboutcars.com/?p=1028233 Should things go as planned, China National Chemical Corp. — ChemChina — will buy into Pirelli in a €7.1 billion ($7.7 billion USD) deal. Automotive News reports the deal could bring premium-tire technology to ChemChina, while giving Pirelli a huge jump in the Chinese domestic market. However, the chemical company’s bid of €15/share last weekend […]

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Pirelli F1 Tire Range

Should things go as planned, China National Chemical Corp. — ChemChina — will buy into Pirelli in a €7.1 billion ($7.7 billion USD) deal.

Automotive News reports the deal could bring premium-tire technology to ChemChina, while giving Pirelli a huge jump in the Chinese domestic market. However, the chemical company’s bid of €15/share last weekend may be the beginning of a protracted takeover as it and Pirelli’s largest investor, Cam Finanziaria, attempt to secure 90 percent of the stock to take the tire company off of the trading floor; the share price climbed to €15.76 Monday.

The terms of the deal would give ChemChina 50.1 percent of the company, Finanziaria 49.9 percent, and would begin with the former paying €15/share for Finanziaria’s 26.2 percent of Pirelli, followed by a public tender for the rest of the company at the same price. Should that fail, however, ChemChina could merge its 66 percent with Finanziaria’s holdings to force a delisting. Pirelli chair and CEO Marco Tronchetti Provera would remain CEO under the deal, while ChemChina will seek a new chair.

The Sino-Italian buy-in is part of a number of takeovers of Italian companies by Chinese buyers, and would be the fifth-largest deal by a state-owned enterprise.

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Alfa Romeo To Build Spider On Own Platform, Mazda MX-5 To Fiat-Abarth http://www.thetruthaboutcars.com/2014/12/alfa-romeo-build-spider-platform-mazda-mx-5-fiat-abarth/ http://www.thetruthaboutcars.com/2014/12/alfa-romeo-build-spider-platform-mazda-mx-5-fiat-abarth/#comments Mon, 22 Dec 2014 13:00:19 +0000 http://www.thetruthaboutcars.com/?p=963858 Alfa Romeo will be going its own way for its upcoming Spider, directing Mazda to take its 2016 MX-5 over to Fiat-Abarth instead. Car reports the new roadster will be “a derivative of project Giorgio,” per Alfa and Maserati brand boss Harald Wester. Giorgio is, of course, the RWD platform that will underpin many a […]

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Alfa Romeo will be going its own way for its upcoming Spider, directing Mazda to take its 2016 MX-5 over to Fiat-Abarth instead.

Car reports the new roadster will be “a derivative of project Giorgio,” per Alfa and Maserati brand boss Harald Wester. Giorgio is, of course, the RWD platform that will underpin many a new Alfa, including the expected 159 successor due early this coming summer.

As for the MX-5’s role in the matter, the platform will be heading to Fiat-Abarth, raising the possibility for a new Barchetta or stand-alone Abarth model to emerge from Mazda’s Hiroshima facility in the near future. Alfa’s Spider, however, will be made in Italy, per CEO Sergio Marchionne’s vision for the Alfa brand.

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Ferrari May Follow FCA Out Of Italy For Fiscal Reasons http://www.thetruthaboutcars.com/2014/12/ferrari-may-follow-fca-italy-fiscal-reasons/ http://www.thetruthaboutcars.com/2014/12/ferrari-may-follow-fca-italy-fiscal-reasons/#comments Thu, 11 Dec 2014 14:00:50 +0000 http://www.thetruthaboutcars.com/?p=958433 Just as Fiat Chrysler Automobiles left Italy to escape the tax man, Ferrari is considering the same as it moves closer to leaving the nest by next October. Bloomberg reports the automaker is also considering remaining in Maranello, though a change in its fiscal address wouldn’t affect manufacturing and engineering operations. A final decision either […]

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ferrari-laferrari-fxxk_100493646_l

Just as Fiat Chrysler Automobiles left Italy to escape the tax man, Ferrari is considering the same as it moves closer to leaving the nest by next October.

Bloomberg reports the automaker is also considering remaining in Maranello, though a change in its fiscal address wouldn’t affect manufacturing and engineering operations. A final decision either way could come in the next few months, per the publication’s anonymous sources.

Such a move would prove devastating to Italy beyond the nation’s economy, as Ferrari is considered a national treasure. Milan Bicocca University professor of public finance Ugo Arrigo said the move would show investors and companies alike that the country and its fiscal system as uncompetitive; Italy’s corporate rate is 31.4 percent, whereas the United Kingdom — where FCA calls its fiscal home — has a rate of 21 percent, soon to be 20 percent.

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Mercedes-AMG Buys Stake, Enters Partnership With MV Agusta http://www.thetruthaboutcars.com/2014/11/mercedes-amg-buys-stake-enters-partnership-mv-agusta/ http://www.thetruthaboutcars.com/2014/11/mercedes-amg-buys-stake-enters-partnership-mv-agusta/#comments Mon, 03 Nov 2014 13:00:16 +0000 http://www.thetruthaboutcars.com/?p=939681 Daimler AG’s Mercedes-AMG high-performance luxury brand has decided that two wheels aren’t so bad after all, putting down an undisclosed sum for 25 percent of Italian motorcycle manufacturer MV Agusta S.p.A. In addition to the stake, Mercedes-AMG and MV Agusta will enter into a long-term partnership with a focus on sales and marketing toward consumers […]

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Mercedes-AMG + MV Agusta

Daimler AG’s Mercedes-AMG high-performance luxury brand has decided that two wheels aren’t so bad after all, putting down an undisclosed sum for 25 percent of Italian motorcycle manufacturer MV Agusta S.p.A.

In addition to the stake, Mercedes-AMG and MV Agusta will enter into a long-term partnership with a focus on sales and marketing toward consumers of both high-end cars and motorcycles. No word was given, however, on whether any manufacturing and design DNA will enter into the mix down the road as a result of the new partnership.

MV Agusta President/CEO Giovanni Castiglioni expressed his pleasure with the partnership, stating Mercedes-AMG’s investment would allow his company “to further expand globally,” as well as accelerate said growth. In turn, MV Agusta would “further enhance” his partner’s leadership in the high-performance game. Mercedes-AMG CEO Tobias Moers agreed, adding that the partnership would give his company access “into a world of additional high-performance enthusiasts.”

MV Agusta has sought a dance partner for some time, ever since the Harley-Davidson partnership made in 2008 dissolved completely just two years after. Earlier this year, rumors pointed to Fiat to be the one to take the company’s hand; the rumors did not pan out.

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Marchionne: Alfa Romeo Still Not For Sale http://www.thetruthaboutcars.com/2014/07/jaguar-reveals-face-2016-xe/ http://www.thetruthaboutcars.com/2014/07/jaguar-reveals-face-2016-xe/#comments Thu, 31 Jul 2014 12:00:53 +0000 http://www.thetruthaboutcars.com/?p=876841 Fiat Chrysler Automobiles CEO Sergio Marchionne is open to forming new alliance with other automakers as far as cost-savings are concerned, but he maintains that Alfa Romeo is not for sale. Automotive News Europe reports Marchionne said as much during a conference call regarding Fiat’s Q2 2014 earnings, reaffirming the parent company’s commitment to Alfa […]

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Fiat Chrysler Automobiles CEO Sergio Marchionne is open to forming new alliance with other automakers as far as cost-savings are concerned, but he maintains that Alfa Romeo is not for sale.

Automotive News Europe reports Marchionne said as much during a conference call regarding Fiat’s Q2 2014 earnings, reaffirming the parent company’s commitment to Alfa Romeo and proclaiming his company is not “in the business of brand-trading.”

Said commitment includes a €5 billion ($6.7 billion USD) investment to help the premium brand become a sought-after global brand of eight new models — underpinned by the upcoming Giorgio RWD/AWD platform — with annual sales of 400,000 by 2018, up from 74,000 in 2013.

As for alliances, Marchionne is open to the idea, though nothing is on the table as of this writing.

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Fiat Sets Date Of Shareholder Meeting For August 1 http://www.thetruthaboutcars.com/2014/07/fiat-sets-date-of-shareholder-meeting-for-august-1/ http://www.thetruthaboutcars.com/2014/07/fiat-sets-date-of-shareholder-meeting-for-august-1/#comments Fri, 04 Jul 2014 13:00:38 +0000 http://www.thetruthaboutcars.com/?p=858633 Own any shares in Fiat S.p.A.? The automaker just announced it will hold its next general assembly of all shareholders August 1, where the topic of discussion will be the approval of the merger of Fiat with Chrysler Group to become Fiat Chrysler Automobiles N.V. Reuters reports shareholders will also be asked to approve the […]

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A new Fiat Chrysler Automobiles sign is pictured after being unveiled at Chrysler Group World Headquarters in Auburn Hills, Michigan

Own any shares in Fiat S.p.A.? The automaker just announced it will hold its next general assembly of all shareholders August 1, where the topic of discussion will be the approval of the merger of Fiat with Chrysler Group to become Fiat Chrysler Automobiles N.V.

Reuters reports shareholders will also be asked to approve the merger of Fiat with its wholly owned subsidiary Netherlands Fiat Investments N.V. prior to the FCA vote. The meeting would allow CEO Sergio Marchionne to list FCA on the New York Stock Exchange by October at the earliest.

Those who approve FCA’s existence will receive one FCA common share for every Fiat share they hold, while those against will have the right of withdrawal for the next 15 days, with the redemption price set to €7.727 ($10.51 USD) per Fiat share.

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Maserati Sells As Many Units Through June 2014 As It Had For All Of 2013 http://www.thetruthaboutcars.com/2014/06/maserati-sells-as-many-units-through-june-2014-as-it-had-for-all-of-2013/ http://www.thetruthaboutcars.com/2014/06/maserati-sells-as-many-units-through-june-2014-as-it-had-for-all-of-2013/#comments Fri, 20 Jun 2014 11:00:40 +0000 http://www.thetruthaboutcars.com/?p=847945 Maserati may have had a slow 2013 as far as sales go, but the Italian brand is on pace to sell within the first half of 2014 as many cars as it had in the last year. Reuters reports CEO Harald Wester said that while the United States was Maserati’s biggest market, China, Italy and […]

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Maserati may have had a slow 2013 as far as sales go, but the Italian brand is on pace to sell within the first half of 2014 as many cars as it had in the last year.

Reuters reports CEO Harald Wester said that while the United States was Maserati’s biggest market, China, Italy and Europe as a whole were making big sales waves for the brand, likely helping it move 15,400 units both in 2013 and the first six months of this year. He added that Maserati was on pace to hit its mark of 50,000 units sold annually by 2015, and 75,000 by 2018 as part of parent company Fiat Chrysler Automobiles’ five-year plan.

In product news, Wester proclaimed the Levante SUV would head for the showroom late next year or sometime in 2016, followed by the Alfieri in hardtop and convertible forms. Meanwhile, no new factories would be built, with an effort on filling current plants to full capacity in its fight to best the Germans in the sales game.

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Alfa 4C Arrives In 86 North American Showrooms, Brings 342 Pounds Of Luggage http://www.thetruthaboutcars.com/2014/06/alfa-4c-arrives-in-86-north-american-showrooms-brings-342-pounds-of-luggage/ http://www.thetruthaboutcars.com/2014/06/alfa-4c-arrives-in-86-north-american-showrooms-brings-342-pounds-of-luggage/#comments Wed, 11 Jun 2014 10:00:11 +0000 http://www.thetruthaboutcars.com/?p=841969 Fiat Chrysler Automobiles has just released their initial list of dealerships who will have the right to sell the Alfa Romeo 4C to North American customers, while the sports car will bring 342 pounds of luggage for the trip from Modena to the selected showrooms. Autoblog reports all but four dealerships will be in the […]

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Fiat Chrysler Automobiles has just released their initial list of dealerships who will have the right to sell the Alfa Romeo 4C to North American customers, while the sports car will bring 342 pounds of luggage for the trip from Modena to the selected showrooms.

Autoblog reports all but four dealerships will be in the United States — the remaining four are in Canada — and the majority of those will be concentrated in three of the 33 states on the initial list: California, Florida and Texas. The chosen ones were drawn from a list of existing Fiat and Maserati dealerships, and though expected cities like Los Angeles, Orlando and Austin will be among the chosen, a few big names didn’t make the first cut, including New York, Seattle and Louisville, Ky.

Meanwhile, the chosen dealerships “will have a unique staff dedicated to the brand’s premium market clientele,” per the words of Chrysler Group vice president of network development Peter Grady. The dealerships are undergoing “an intensive curriculum” to ensure the success of the 4C and limited-edition 4C Launch Edition as FCA presses forward toward its goal of over 300 Alfa dealerships in North America.

As for the 4C itself, Jalopnik says the sports car packed on an additional 342 pounds to its 2,153-pound Euro-spec frame for the U.S. market, coming into port at 2,495 pounds. Aside from the usual federalization mandates, some of the weight comes from the standard air-con and radio equipped in the U.S.-spec model.

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Marchionne’s FCA Looks To Sell 6 Million Units http://www.thetruthaboutcars.com/2014/04/marchionnes-fca-looks-to-sell-6-million-units/ http://www.thetruthaboutcars.com/2014/04/marchionnes-fca-looks-to-sell-6-million-units/#comments Wed, 02 Apr 2014 14:00:40 +0000 http://www.thetruthaboutcars.com/?p=786433 Should Sergio Marchionne’s Fiat Chrysler Automobiles be able to deliver on his expectations, the merged automaker will be able to move 6 million units annually, enabling FCA to become a player on the global stage. The Detroit News reports Marchionne met before Fiat’s shareholders in the final meeting at the automaker’s Turin, Italy headquarters before […]

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Should Sergio Marchionne’s Fiat Chrysler Automobiles be able to deliver on his expectations, the merged automaker will be able to move 6 million units annually, enabling FCA to become a player on the global stage.

The Detroit News reports Marchionne met before Fiat’s shareholders in the final meeting at the automaker’s Turin, Italy headquarters before FCA relocates to the Netherlands, stating what he expects out of FCA in the post-merger years to come:

By 2018, Fiat will be able to make more than 6 million cars. I don’t want to give any details of the plan, but we are going in that direction.

For 2014, Marchionne stated FCA aims to sell between 4.5 million and 4.6 million units on the strength of United States and Asia markets, collecting some $128 billion in revenues, and between $828.6 million and $1.1 billion in net profit. The goal of selling 6 million units has been an oft-mentioned one by Marchionne, who believes that the volumes necessary to achieve scale will only increase in the future.

Until then, his current goal is to have Chrysler and Fiat completely merged by the end of 2014, with a multi-year business plan to be presented in Detroit by May. Marchionne believes the new plan can be run “by purely financing on debt.”

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Manley: Renegade Will Appeal To U.S. Customers Despite Italian Roots http://www.thetruthaboutcars.com/2014/03/manley-renegade-will-appeal-to-u-s-customers-despite-italian-roots/ http://www.thetruthaboutcars.com/2014/03/manley-renegade-will-appeal-to-u-s-customers-despite-italian-roots/#comments Fri, 07 Mar 2014 20:30:39 +0000 http://www.thetruthaboutcars.com/?p=767217 According to Jeep boss Mike Manley, the Italian-built Renegade will appeal to the off-road brand’s United States customer base despite its Italian roots, especially in Trailhawk form. Automotive News Europe reports the main concern regarding the Renegade is its off-road capability, which Manley believes will be resolved once the trail-rated Trailhawk arrives in showrooms in […]

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2015 Jeep Renegade Trailhawk

According to Jeep boss Mike Manley, the Italian-built Renegade will appeal to the off-road brand’s United States customer base despite its Italian roots, especially in Trailhawk form.

Automotive News Europe reports the main concern regarding the Renegade is its off-road capability, which Manley believes will be resolved once the trail-rated Trailhawk arrives in showrooms in 2015 along with the rest of the Renegade family. He also noted the design language expressed by the entry-level Jeep, as well as its footprint, echo that of the CJ family:

The Renegade’s footprint is similar to one of the CJs. It’s much more Wrangler. We’re very pleased, and I think it will work well in the United States.

Though Manley remained silent on the subject of sales figures for the Renegade and platform sibling Fiat 500X, supplier sources expect a total of 280,000 units annually between the two, with Jeep moving 150,000 units and Fiat accounting for 130,000. Price of admission will be announced by Jeep in Q4 2014 for the U.S., Q2 2014 for the European market.

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Smaller Jeep To Slot Beneath Renegade http://www.thetruthaboutcars.com/2014/03/smaller-jeep-to-slot-beneath-renegade/ http://www.thetruthaboutcars.com/2014/03/smaller-jeep-to-slot-beneath-renegade/#comments Thu, 06 Mar 2014 14:00:39 +0000 http://www.thetruthaboutcars.com/?p=766177 Though the Jeep Renegade already bowed at the 2014 Geneva Auto Show, the off-road brand has plans for not only a fullsize SUV similar to the discontinued Commander, but an A segment SUV slotted beneath the Renegade, as well. Auto Express reports the A segment vehicle could possibly be underpinned by the next-generation Fiat 500, […]

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Though the Jeep Renegade already bowed at the 2014 Geneva Auto Show, the off-road brand has plans for not only a fullsize SUV similar to the discontinued Commander, but an A segment SUV slotted beneath the Renegade, as well.

Auto Express reports the A segment vehicle could possibly be underpinned by the next-generation Fiat 500, though would face greater engineering challenges than those faced by the Renegade — built upon Fiat’s “small-wide” archecture underpinning the upcoming 500X — to make it Rubicon-ready, as Jeep boss Mike Manley explained:

We couldn’t make an SUV off of “small wide” as you can’t get the ground clearance. It was completely changed by Jeep engineers so now it’s “small wide 4×4″ architecture.

The A segment Jeep could also aid in bringing the brand into compliance with increasing CO2 emissions standards, though the improvement drive — much like the vehicle itself — will be a long, hard road to hew:

There’s relentless pressure to reduce CO2 and there’s much more for us to do. We’re trying to stay away from complexity and improvements are slowly coming.

Meanwhile, Manley’s focus is toward the Grand Wagoneer, which will slot above the Grand Cherokee. The fullsize SUV will boast room for seven and “be bigger than the old Commander” made between 2006 and 2010.

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FCA Beginning Maserati SUV Production In 2015 http://www.thetruthaboutcars.com/2014/03/fca-beginning-maserati-suv-production-in-2015/ http://www.thetruthaboutcars.com/2014/03/fca-beginning-maserati-suv-production-in-2015/#comments Thu, 06 Mar 2014 13:45:29 +0000 http://www.thetruthaboutcars.com/?p=766289 Fiat Chrysler Automobiles CEO Sergio Marchionne announced this week production of the Maserati Levante SUV will begin at the automaker’s Mirafiori plant in Turin, Italy beginning in 2015. Reuters reports Marchionne also proclaimed the Alfieri introduced at the 2014 Geneva Auto Show could go into production within 28 months if FCA wanted to make it […]

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Fiat Chrysler Automobiles CEO Sergio Marchionne announced this week production of the Maserati Levante SUV will begin at the automaker’s Mirafiori plant in Turin, Italy beginning in 2015.

Reuters reports Marchionne also proclaimed the Alfieri introduced at the 2014 Geneva Auto Show could go into production within 28 months if FCA wanted to make it so, noting that “the platforms and motors are there” for the grand tourer, though no word was given on whether the Alfieri will join the Levante at Mirafiori should plans come to pass.

Regarding the financial health of Maserati, Marchionne remained optimistic for what the future holds, stating the Alfieri was “an indication of things to come” for the luxury brand. Maserati’s increased profits also signal a sea change for FCA overall as they prepare for Alfa Romeo’s re-introduction into the United States this summer.

However, an uphill battle still waits for FCA; while Maserati moved 15,400 units last year, the figure is far short of the brand’s goal of 50,000 units for 2015. The brand must also contend with the likes of Audi and BMW, emulating their successes with more affordable vehicles while also avoiding potential damage to its image.

Along with the aforementioned re-introduction, FCA is crossing its fingers that their two-prong strategy will pay off big by bringing the Italo-American automaker back in the black by 2016, surviving the economic storm in Europe that has all but battered the auto industry as a whole.

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Fiat, Abarth Likely To Receive Mazda-Based Roadster Over Alfa http://www.thetruthaboutcars.com/2014/03/fiat-abarth-likely-to-receive-mazda-based-roadster-over-alfa/ http://www.thetruthaboutcars.com/2014/03/fiat-abarth-likely-to-receive-mazda-based-roadster-over-alfa/#comments Tue, 04 Mar 2014 19:19:50 +0000 http://www.thetruthaboutcars.com/?p=764089 Long rumored to wear the Alfa Romeo badge, the next-generation Mazda MX-5 may instead don a Fiat or Abarth necklace in 2015 if Fiat Chrysler Automobiles CEO Sergio Marchionne has the last word. Automotive News reports sources close to the project stated product planners from Mazda and Fiat met recently to discuss a roadster based […]

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Long rumored to wear the Alfa Romeo badge, the next-generation Mazda MX-5 may instead don a Fiat or Abarth necklace in 2015 if Fiat Chrysler Automobiles CEO Sergio Marchionne has the last word.

Automotive News reports sources close to the project stated product planners from Mazda and Fiat met recently to discuss a roadster based upon the MX-5. Fiat’s planners are looking for a way to maintain the supply partnership deal with the Japanese automaker, lest the break-up leave Fiat in the red through 2016, when they hope to return to the black in their native Europe.

As for why, Marchionne has proclaimed that no Alfa will be made outside of Italy so long as he is CEO, a statement reinforced as recently as the 2014 Detroit Auto Show; Marchionne plans to head FCA until 2017 at the earliest.

The so-called heir to the throne abdicated by the Fiat Duetto Spider made famous by the film “The Graduate,” the Italo-Japanese roadster may find a home with Fiat or Abarth, too underpowered be paired with Ferrari or Maserati, while Lancia retreats into its home market as a one-model brand by the end of 2014.

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Only Select Fiat Dealers Will Get Alfa Romeo Franchises http://www.thetruthaboutcars.com/2014/02/only-select-fiat-dealers-will-get-alfa-romeo-franchises/ http://www.thetruthaboutcars.com/2014/02/only-select-fiat-dealers-will-get-alfa-romeo-franchises/#comments Tue, 25 Feb 2014 12:00:32 +0000 http://www.thetruthaboutcars.com/?p=753569 Fiat Chrysler Automobiles is set to bring Alfa Romeo back into the United States market after a two-decade absence with the 4C, but only the best-performing Fiat dealerships will be selected to sell the first new Alfas when the lighweight $60,000 sports car rolls off the dock in June. The Detroit News reports the majority […]

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Alfa Romeo 4C

Fiat Chrysler Automobiles is set to bring Alfa Romeo back into the United States market after a two-decade absence with the 4C, but only the best-performing Fiat dealerships will be selected to sell the first new Alfas when the lighweight $60,000 sports car rolls off the dock in June.

The Detroit News reports the majority of Fiat dealerships who were promised an Alfa wing will not be along for the ride in 2014. FCA CEO Sergio Marchionne stated that his company would only allow “the best-performing Fiat dealers to participate” based on “simple dealer metrics” and efficacy in representing Fiat. Though he also added that said dealers knew who they were, FCA spokesman Rick Deneau countered his boss’s statement, saying that those dealers “have not been identified yet.”

While the 4C will be the only Alfa offering available this year, it will be joined in 2015 by the Giulia, Giulietta and a new Spider co-developed with Mazda, which will also underpin the latter’s new MX-5 roadster. The 4C is motivated by a turbocharged four-pot driving 240 horses out of the back gate, pushing the 1875-pound sports car from naught to 60 in 4.5 seconds.

However, follow-through hasn’t been FCA’s strong suit regarding Alfa’s return, with the brand originally promised to Fiat dealers in 2012, then last year before settling upon June 2014. The return was also promised to come with a full lineup to display in showrooms, but only the 4C will be setting the pace this year as it goes up against the Porsche Cayman and Chevrolet Corvette Stingray.

According to IHS Automotive, selected Fiat dealers will move 500 4Cs in 2014, with 8,400 more in 2015 once more dealers join the fray. IHS also expects Alfa to move 28,000 units in the U.S. by the end of 2016.

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Moody’s Cuts Fiat’s Rating Down Due To Earnings Worries, Outlook http://www.thetruthaboutcars.com/2014/02/moodys-cuts-fiats-rating-down-due-to-earnings-worries-outlook/ http://www.thetruthaboutcars.com/2014/02/moodys-cuts-fiats-rating-down-due-to-earnings-worries-outlook/#comments Wed, 12 Feb 2014 16:18:06 +0000 http://www.thetruthaboutcars.com/?p=740041 Citing weak results in 2013 and guidance challenges for 2014, investment ratings agency Moody’s has cut Fiat’s rating from B3a to B1, four notches below investment grade. Automotive News reports that the rating was decided upon by the agency after placing the automaker under review for a possible downgrade back in the opening days of […]

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2014 Fiat 500L Exterior, Picture Courtesy of Alex L. Dykes

Citing weak results in 2013 and guidance challenges for 2014, investment ratings agency Moody’s has cut Fiat’s rating from B3a to B1, four notches below investment grade.

Automotive News reports that the rating was decided upon by the agency after placing the automaker under review for a possible downgrade back in the opening days of 2014 just after Fiat struck a deal to take full control of Chrysler for $4.35 billion. In turn, the B1 rating for Fiat means the automaker will have a harder time securing much-needed financing in order to right the ship for their loss-making European operations.

Aside from the aforementioned reasons cited for the downgrade, Moody’s lead analyst for Fiat Falk Frey added that

“We have downgraded Fiat’s ratings following its weaker-than-expected performance in fiscal year 2013 and our view that the company faces significant challenges in terms of achieving its outlook guidance for the current fiscal year.”

 “We are also concerned that Fiat may not be able to offset any further profitability deterioration in its Latin American operation through anticipated improvements in other regions and in its luxury and performance division,” 

Other factors in the downgrade include Fiat’s overreliance on the European market — still weak from the Great Recession — rising price pressures, a lack of major new models coming down the ramp in 2014, and overcapacity in Fiat’s home market.

Although Fiat and Chrysler merged not too long ago, Moody’s will keep the former duo’s ratings separate for the foreseeable future. The agency also said Fiat’s rating’s outlook overall has improved from negative to stable.

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Marchionne’s Choice of Fiat-Chrysler HQ Weighs Political Realities Against Lower Taxes http://www.thetruthaboutcars.com/2014/01/marchionnes-choice-of-fiat-chrysler-hq-weighs-political-realities-against-lower-taxes/ http://www.thetruthaboutcars.com/2014/01/marchionnes-choice-of-fiat-chrysler-hq-weighs-political-realities-against-lower-taxes/#comments Wed, 29 Jan 2014 15:55:25 +0000 http://www.thetruthaboutcars.com/?p=726994 Now that Sergio Marchionne has succeeded in joining Fiat and Chrysler together, for his next act he’s planning on moving Fiat’s headquarters out of Italy. While such a move has tax advantages, it would present a political and public relations challenge for Fiat and Marchionne in their home country. According to Reuters, the new entity, […]

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Now that Sergio Marchionne has succeeded in joining Fiat and Chrysler together, for his next act he’s planning on moving Fiat’s headquarters out of Italy. While such a move has tax advantages, it would present a political and public relations challenge for Fiat and Marchionne in their home country. According to Reuters, the new entity, dubbed Fiat Chrysler Automobiles, will be a Dutch-based company with a UK tax domicile, while shares are listed on the NYSE with a secondary listing in Milan.

Marchionne is aware that locating the headquarters outside of Italy, where Fiat has operated for 115 years and has received government funding, or outside the United States, where Chrysler was bailed out by the federal government, could make waves and there is the possibility that the Italian government might intervene. “I’ve seen weirder things happen,” Marchionne said to journalists at the recent Detroit auto show. “So I sincerely hope they don’t create obstacles.”

The deal for Fiat to take complete control of Chrysler after buying the UAW retiree health benefits trust’s stake in the Auburn Hills based automaker was consummated last week and the result is the world’s 7th largest automaker, holding brands that include ,Alfa Romeo, Dodge, Ferrari, Jeep and Maserati along with the two corporate brands.

Marchionne is emulating what he did when he spun off CNH Industrial from Fiat: register the group in the Netherlands with a UK tax domicile. Marchionne has previously said that CNH Industrial will be used as “one of the technical blueprints” for Fiat-Chrysler. CNH is registered in the Netherlands, tax-resident in Britain and traded primarily on the New York Stock Exchange, with a secondary listing in Milan.

Marchionne, who trained as a tax accountant before attending law school by training, will present his plans to the Fiat board of directors today. Publicly he has insisted that moving the HQ and listing on the NYSE reflect “access to funding” more than tax considerations, saying that profits are taxed where they are made with “no impact” on the Italian government’s tax revenue. Because of tax credits for previous years’ losses, Fiat will not have to pay domestic Italian taxes for years to come. Still, to reduce tax burden, manufacturers can adjust the amounts of total profit attributed to the production, export or sale of each vehicle in different countries.

 

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Jeep Aiming For 1 Million Units Sold in 2014 http://www.thetruthaboutcars.com/2014/01/jeep-aiming-for-1-million-units-sold-in-2014/ http://www.thetruthaboutcars.com/2014/01/jeep-aiming-for-1-million-units-sold-in-2014/#comments Thu, 16 Jan 2014 17:05:39 +0000 http://www.thetruthaboutcars.com/?p=701209 Chrysler Group LLC CEO Sergio Marchionne threw down the gauntlet for Jeep during an interview on Detroit’s WJR-AM at the 2014 Detroit Auto Show, proclaiming that the Rubicon-rated brand will move 1 million units onto the trails and highways by the end of this year. Global sales of the iconic off-road brand rose 4 percent […]

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Chrysler Group LLC CEO Sergio Marchionne threw down the gauntlet for Jeep during an interview on Detroit’s WJR-AM at the 2014 Detroit Auto Show, proclaiming that the Rubicon-rated brand will move 1 million units onto the trails and highways by the end of this year.

Global sales of the iconic off-road brand rose 4 percent in 2013 for the fourth consecutive year, topping out at a record 731,565 units moved. Though Marchionne is confident Jeep will make his stated sales goal, brand president Mike Manley is taking a more conservative stand, stating that the figure might come by 2015 rather than 2014.

However, Manley believes the new Cherokee could bring the remaining 300,000 or so units to the table by the end of the year should the SUV do well at home and abroad. Sales of the Cherokee in the United States, in spite of its face, are 15 percent to 20 percent ahead of Chrysler’s expectations after only two months in the market; total U.S. sales account for 67 percent of Jeep’s overall global sales.

As far as the rest of the world is concerned, Fiat has plans to build a subcompact Jeep in Italy for sale in Europe in 2014, with arrival in the U.S. due sometime in 2015. The parent automaker also plans to expand production in America, as well as in China and Brazil.

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Fiat Punto to Be Axed, $13.2 billion Spent On 20 New Models Over Next 3 Years http://www.thetruthaboutcars.com/2013/12/fiat-punto-to-be-axed-13-2-billion-spent-on-20-new-models-over-next-3-years/ http://www.thetruthaboutcars.com/2013/12/fiat-punto-to-be-axed-13-2-billion-spent-on-20-new-models-over-next-3-years/#comments Tue, 10 Dec 2013 13:30:48 +0000 http://www.thetruthaboutcars.com/?p=676138 Sources tell Bloomberg News that Fiat Spa will spend as much as 9 billion euros ($12 billion) over the next three years developing new models for for the European market. The Italian automaker hopes the strategy will end losses on the continent and restore drastically underutilized Italian factories to profitability. Many of the new models […]

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Fiat Punto, not long for this world.

Fiat Punto, not long for this world.

Sources tell Bloomberg News that Fiat Spa will spend as much as 9 billion euros ($12 billion) over the next three years developing new models for for the European market. The Italian automaker hopes the strategy will end losses on the continent and restore drastically underutilized Italian factories to profitability. Many of the new models will be based on either the Fiat 500 subcompact or the small, low cost Panda.  A five door version of the 500 will replace the Punto. The Punto, last restyled in 2005, has long been a fixture in Fiat showrooms and as recently as 2007 it accounted for almost a third of the Fiat brand’s sales in Europe.

Though Fiat wants to use its Italian factories better, the Punto’s replacement will be built in Poland to save on costs. Sergio Marchionne believes that “made in Italy” works with upscale brands like Maserati and Alfa Romeo. The upcoming Maserati Levante SUV will be made in Fiat’s Mirafiori factory.

Not able to access the profits that Chrysler is banking because it’s not wholly owned by Fiat yet, Marchionne must find a way to staunch the parent brand’s bleeding red ink in Europe. Fiat has previously announced that it hopes to develop about 20 new models for Europe by 2016, including eight Alfa Romeos. Some of those cars are a 500 based SUV along with Italian made Jeeps to be introduced alongside the open version of Alfa’s 4C sports car.

Fiat has lost market share in Europe for the past four years, with deliveries dropping 47% over that period and market share going form 9.3% to 6.2%. The Italian automaker has had almost 2 billion euros in operating losses since 2011, including over 300 million euros in loses for the first three quarters of 2013.

Many of Fiat’s 30,700 production workers in Italy have been furloughed this year, most of them for more than five months.

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Ram to ProMaster the City in Late 2014 http://www.thetruthaboutcars.com/2013/12/ram-to-promaster-the-city-in-late-2014/ http://www.thetruthaboutcars.com/2013/12/ram-to-promaster-the-city-in-late-2014/#comments Tue, 03 Dec 2013 15:57:34 +0000 http://www.thetruthaboutcars.com/?p=669458 On the heels of “the biggest thing to happen in the commercial world” that is the Ram ProMaster — whose page links back to our review, of course — the Italo-American truck division has announced the introduction of the ProMaster City in late 2014. The ProMaster City is expected to go up against the Ford […]

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Fiat Doblo

On the heels of “the biggest thing to happen in the commercial world” that is the Ram ProMaster — whose page links back to our review, of course — the Italo-American truck division has announced the introduction of the ProMaster City in late 2014.

The ProMaster City is expected to go up against the Ford Transit Connect and the Nissan NV200/Chevrolet City Express in the battle for the hearts and wallets of many a florist, caterer and cable installer.

Much like how the Fiat Ducato provided the framework for the ProMaster, the Fiat Doblo will provide the foundation for the ProMaster City as it becomes an Americanized delivery machine. The treatment will include adding more transmission/engine combos, an automatic transmission as an option, and slight changes to the design to appeal to the North American market.

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Fiat Passes on Milano Auto Show http://www.thetruthaboutcars.com/2013/11/fiat-passes-on-milano-auto-show/ http://www.thetruthaboutcars.com/2013/11/fiat-passes-on-milano-auto-show/#comments Mon, 18 Nov 2013 14:45:18 +0000 http://www.thetruthaboutcars.com/?p=654162 If you were hoping to celebrate an early Christmas in Milan with Signore Marchionne next year, you’re out of luck: Fiat has declined an invitation to show at the 2014 Milano Auto Show in light of the weakened local market. The Italian half of the Italo-American mashup stated that the shows in Paris, Frankfurt and […]

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Fiat Strada Adventure

If you were hoping to celebrate an early Christmas in Milan with Signore Marchionne next year, you’re out of luck: Fiat has declined an invitation to show at the 2014 Milano Auto Show in light of the weakened local market.

The Italian half of the Italo-American mashup stated that the shows in Paris, Frankfurt and Geneva are enough for all automakers to show off their latest and greatest to the masses and the press alike, and that current economic conditions may not be able to support another auto show, especially one in a market that took only 1.3 million cars out of the showroom in 2013 after a peak of 2.5 million units sold back in 2007.

In response, Chairman Alfredo Cazzola of Promotor, the production company responsible for organizing next year’s show, had this to say to the Italian daily La Repubblica:

Fiat’s business is to build cars, not to organize shows.

Cazzola also said that Fiat would change its mind once they’ve seen what his Promotor has in store for Milan. Previously, Promotor were responsible for the Bologna Auto Show until its reorganization as the Milano Auto Show, where 133 exhibitors displayed their wares in 2012. In contrast, this year’s show in Frankfort held 1,000 under their tent.

As for 2013, the 38th iteration of the Bologna Auto Show was cancelled due to a lack of exhibitors.

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