#Italy
Best Selling Cars Around The Globe: What The Italians Bought in 2012
And on we go in our round-the-world-travels, exploring what the main car markets in the world looked like in 2012. We have gone through the Chinese, European, Russian, Indian and Israeli markets already, now let’s have a look at Italy…
Not really interested? That’s ok, you can check out the best-selling models and brands in 172 additional countries and territories on my blog. Enjoy!
Back to Italy. And for the first time since World War II… Well you’re going to have to jump to find out…
Fiat 500 Moving To Poland, Chrysler Heads South
The next generation Fiat 500 will no longer be hecho en Mexico for the North American market. Faced with a modern plant and unused capacity, Fiat will consolidate all of its 500 production to its site in Tychy, Poland, in 2015. So what does this mean for Mexico?
Get Ready For Italian Jeeps
Self-concious auto shoppers looking for a cheap, Italian-made vehicle need look no further than Jeep; Fiat announced plans for a $1.3 billion investment in an Italian plant to build a subcompact crossover for Fiat and Jeep.
Mario Monti: Let Chrysler Bail Out Fiat, No Money From Italy
With the exception of France, European governments offer very little help to their ailing car industries. Fiat hoped that Italy would follow the French example. Today, it received a cold shower instead. Italy’s prime minister Mario Monti “offers car makers sympathy, but no aid,” says Reuters.
Italy has not intervened with financial support for Fiat because its European losses are more than covered by revenue from its Chrysler unit in the United States, the report says.
End Of The Chase: Aston Martin Sold To Italy
Aston Martin won’t be sold to the Indians, nor will it be sold to the Chinese. The low-intensity bidding war for the British boutique sports car maker was won by the Italian private equity group Investindustrial. It is buying 37.5 percent for $241 million via a capital increase agreed with majority Kuwaiti owner Investment Dar, Reuters reports after having received confirmation by Aston Martin.
Gaddafi's Fiat Stake To Be Unfrozen
Last year, our esteemed Ed in Chief Niedermeyer did intensive research into what was left of then Libyan ruler Muammar Gaddafi’s share holdings in Fiat. Fiat denied that the Colonel had any financial interest in Fiat, but he did. The holdings were seized by the Italian government.
The Awkward Captain Of Industry
“Whenever Sergio Marchionne, chief executive of carmakers Fiat and Chrysler, appears in public, television crews jostle to beam his words around the globe. Amid the push and shove it’s easy to miss the tall, curly-headed young man who often looks on from the sidelines.
He’s John Elkann. And he’s Marchionne’s boss.”
Sergio Gives Unsolicited Advice To EU And China Goverments
Fiat and Chrysler CEO Sergio Marchionne repeated its pleas that European governments should do something about the overcapacity in the region. Being in Shanghai when he said that, he recommended that the Chinese government does the same. The governments likely won’t be enthusiastic about Sergio’s advice.
The Gas Station - Ripe For The Museum?
For the first time, I am worried that gasoline is at the end of its life cycle. Gas pumps already have landed in the museum.
Marchionne Calls For EU Intervention, End Of Free Trade
It looks like Fiat and Chrysler CEO Sergio Marchionne does not want to be head of the European automakers association ACEA much longer. Today, he called for a massive EU rescue package for the ailing European car industry, with coordinated capacity cuts as the centerpiece. He also called for a stop of free trade agreements. “Let the European car industry make its adjustments… This is not the time to embrace free trade,” Marchionne said while Reuters was taking notes.
Fiat And PSA Taken Down A Notch By Moody's, Their Banks Are A Ticking Bomb
Carmakers do get hurt when someone calls their cars junk. When Moody’s calls your credit rating junk, then this hurts a lot: It makes financing more expensive, or possibly impossible. Moody’s lowered the credit rating of Fiat and PSA Citroen Peugeot to Ba3 with negative outlook. Translation: This is serious junk, and it might get worse.
Fiat Bitten By Financial Watchdog
Fiat says it sits on a 22.7 billion euro cash pile. CONSOB, the Italian equivalent of the SEC, told Fiat to explain “size and purpose” of its cash position, says Il Messagero in Rome. Fiat says it is not aware of an alleged probe, and that any suggestion that its cash pile was lower than reported in its statements was false, and will be dealt with.
Bicycles Outselling Cars In Italy
Fiat Confirms Italian Built Exports As CAW Deal Expected Today
With a CAW labor contract expected to be announced today, Fiat has confirmed that cars built in Italy will be exported to markets like the United States, as Fiat looks beyond its ailing home market for growth.
Quotes Of The Day: Marchionne Mouths Off At Luxury Cobbler, Volkswagen
“What he invests on research and development in a year is not enough for us to even make part of a mudguard. He should stop bugging us,”
Fiat CEO Sergio Marchionne responds to the unsolicited advice of Tod’s founder Diego Della Valle. It’s been a busy week for Sergio, whose homecoming in Italy was met with endless chirping from various corners of society.
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