Fiat Chrysler Automobiles may be showing off a Dodge Barracuda convertible, a next-generation Charger, Jeep Grand Cherokee Trackhawk and a Grand Wagoneer — they probably put root beer in the fountains too — according to multiple media reports.
At the dealer meeting in Las Vegas, FCA executives outlined the future for the brands (Jeep, Chrysler, Dodge, Alfa Romeo, Maserati and Fiat) that may include up to 30 new or refreshed products within two years.
According to reports, FCA CEO Sergio Marchionne also addressed reports that the automaker was seeking a merger with another automaker, and any potential deal would be “to strengthen the competitive position of the companies involved,” he said according to Automotive News.
My goodness, when isn’t former General Motors exec Bob Lutz just the best? The former GM chief recently appeared on an Automotive News panel and boy that guy has vision and the rest of us have bifocals.
Car and Driver correctly points out that Lutz makes good points regarding a merger between GM and Chrysler, but the sage’s wisdom doesn’t stop at the following quote:
“The knowledge that one is to be hanged in the morning focuses the mind wonderfully.”
The court case against former FCA Australia executive Clyde Campbell is turning into a veritable who’s-who of decision makers at the company, reports The Age.
Campbell, who is charged with misappropriation of $30 million AUD of company funds, claims he had verbal permission from recently departed FCA executive John Kett, current company hotshot Mike Manley, and head of FCA Sergio Marchionne.
Fiat Chrysler Automobiles said strong North American sales and brisk worldwide Jeep sales propelled the company to a $364 million profit in the second quarter of 2015, despite record fines from the federal government.
Overall, the company earned a pre-tax profit of $1.4 billion, which is double the $650 million it made in the same quarter last year, the Detroit Free Press reported.
The earnings beat expectations for the company, whose profit margins are still below the other domestic automakers. FCA reports its margin was 7.7 percent in the second quarter, up from 4.9 percent last year, but well behind the double-digit margins of Ford and General Motors.
Ontario’s debt is swelling and as home to eight manufacturing plants — the largest complex in North America — automakers may have a tough time keeping plants open in Canada’s most-populous province.
According to a story by the Financial Post, Ontario is moving forward with an ambitious plan to revamp roads and mass transit systems despite its debt being downgraded by Standard & Poor’s bond index. The broad public spending plan also extends to other sectors, despite high unemployment numbers and slumping manufacturing jobs.
Automakers such as Fiat Chrysler Automobiles have called on the provincial government to cut back on public programs and reduce costs on utilities in an effort to keep car building in the province profitable. This year, Chevrolet will shift production of its Camaro to Michigan. On the whole, Oshawa GM production has a dark cloud lingering overhead until the company decides what to do with the facility in 2016.
Fiat Chrysler Automobiles formally filed its initial public offering on Thursday to spin off Ferrari into its own separate company.
The filing doesn’t specify price or number of shares to be offered when the shares are publicly available sometime after Oct. 13.
Roughly 10 percent of the company will be publicly traded, with the rest of the company remaining under control of existing FCA shareholders and Piero Lardi Ferrari, Enzo Ferrari’s son and current vice chairman.
The former mayor of Oshawa, John Gray, is telling Canadians to boycott General Motors if the automotive giant pulls the plug on the Camaro at its plant north of the border, the Toronto Sun is reporting.
“That’s the type of pressure that is applied so that GM comes to its senses and maintains production in Oshawa after next year,” Gray told the newspaper this week.
General Motors said it would end production of the Chevrolet Camaro at the Oshawa Car Assembly plant and move production to Michigan on Nov. 20. Gray said the move would end about 1,000 jobs at the plant, and dim the prospects of an already bleak future for the plant.
Fiat Chrysler Automobiles’ top executive says he’s still not sure if Jeep’s Toledo plant will build the next-generation Wrangler, The Detroit Bureau is reporting.
In a move that may or may not be union-negotiations related, FCA CEO Sergio Marchionne said he expects to make a decision on where to build the new Wrangler by the end of the summer — or about the time negotiations wrap up.
With the imminent spin-off of Ferrari, Fiat Chrysler Automobiles boss Sergio Marchionne may be looking for a cash cow to help keep lagging brands at FCA afloat.
A story by Automotive News on Wednesday wonders aloud if Maserati will replace Ferrari as FCA’s marquee brand with double-digit profit margins. Behind Marchionne’s plan to sell the world on Jeep and Alfa Romeo, he would need to sell the world on the idea that Maserati is an exclusive, luxury brand, the article says.
Of course, that may be tough to do considering Maserati has always had a reputation for being Ferrari’s nerdy suburban cousin.
New Honda CEO Takahiro Hachigo told media Monday that the automaker wouldn’t aim for a specific global sales figure to drive growth and would be open to partnerships with other automakers, Automotive News reported.
The speech also emphasized sharing global manufacturing resources within Honda’s six regional divisions and to create “challenging products.” (Which may or may not — probably not — mean “Challenger.”)