• Sign in to follow this  
    Followers 0

    Fiat Pushes Chrysler IPO To 2014


    William Maley

    William Maley

    Staff Writer - CheersandGears.com

    November 25, 2013

    The Chrysler IPO will not happen this year. Forbes is reporting that Fiat has decided to not to launch the initial public offering of Chrysler before the end of 2013, citing that the short window before the end of 2013 is "not practicable."

    Not surprisingly, the hold up on the IPO is the disagreement between Fiat and the UAW's healthcare trust. Fiat currently owns 58.5 percent of Chrysler, while the trust owns the remaining 41.5 percent. The company wants to buy the trust's share, but for how much is what the two cannot come to an agreement.

    The IPO was going to be the way of figuring out how much the UAW's healthcare trust share was. It's not entirely clear why Fiat decided to put the IPO on hold till next year. A possibility could be that advisers working for Chrysler are discussing a valuation of about $10 to $11 billion for the IPO. Given that amount, it would mean Fiat would be paying $4.15 billion for the share owned by the healthcare trust, a figure that considered to be much higher than what Fiat is looking to pay.

    Source: Forbes, Detroit Free Press

    William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster.

    0


      Report Article
    Sign in to follow this  
    Followers 0


    User Feedback


    Yup Unions would love to get all that cash and squander it. But Fiat wants bottom basement pricing. Not sure they could really afford it anyway.

    0

    Share this comment


    Link to comment
    Share on other sites


    Your content will need to be approved by a moderator

    Guest
    You are commenting as a guest. If you have an account, please sign in.
    Add a comment...

    ×   You have pasted content with formatting.   Remove formatting

    ×   Your link has been automatically embedded.   Display as a link instead

    Loading...



  • Popular Stories

  • Similar Content

    • By William Maley
      Fiat is possibly adding another derivative of its Miata-based 124. Autocar has learned from sources that the Italian automaker is working a coupe variant. Unlike the retractable hardtop used on the MX-5 Miata RF, Fiat is keeping it simple by designing a regular coupe. It would also give a bit more differentiation between the 124 and Miata.
      We have a possible idea of where Fiat could go with the 124 coupe by looking at Abarth 124 Rally concept that appears to have a hardtop fitted permanently. Some sources say Fiat could change the design of the rear to better integrate the coupe roofline. 
      Power is currently undecided at the moment. Certain markets could get a 1.4L four-cylinder with 138 horsepower, while others may get the turbocharged 1.4L with 158 horsepower. There is talk about an Abarth model with 178 horsepower and limited-slip differential.
      Autocar says the 124 Coupe could be shown as soon as next year. 
      Source: Autocar

      View full article
    • By William Maley
      Fiat is possibly adding another derivative of its Miata-based 124. Autocar has learned from sources that the Italian automaker is working a coupe variant. Unlike the retractable hardtop used on the MX-5 Miata RF, Fiat is keeping it simple by designing a regular coupe. It would also give a bit more differentiation between the 124 and Miata.
      We have a possible idea of where Fiat could go with the 124 coupe by looking at Abarth 124 Rally concept that appears to have a hardtop fitted permanently. Some sources say Fiat could change the design of the rear to better integrate the coupe roofline. 
      Power is currently undecided at the moment. Certain markets could get a 1.4L four-cylinder with 138 horsepower, while others may get the turbocharged 1.4L with 158 horsepower. There is talk about an Abarth model with 178 horsepower and limited-slip differential.
      Autocar says the 124 Coupe could be shown as soon as next year. 
      Source: Autocar
    • By William Maley
      FCA US Reports Increase in July 2016 U.S. Sales  Jeep® and Ram Truck brands both up 5 percent year-over-year Sales of Jeep Renegade up 57 percent in July versus same month in 2015 Ram ProMaster and Ram ProMaster City vans drive brand increase in July All-new 2017 Fiat 124 Spider posts 480 sales in its first full month in the marketplace Sales of all-new 2017 Chrysler Pacifica up month-over-month as launch momentum continues to build  August 2, 2016 , Auburn Hills, Mich. - FCA US LLC today reported U.S. sales of 180,727 units, up 0.3 percent compared with sales in July 2015 (180,124 units).   FCA US retail sales of 155,885 were down 2 percent in July, while fleet sales of 24,842 were up 22 percent year-over-year.   Both the Jeep® and Ram Truck brands were up 5 percent in July compared with the same month a year ago. The Jeep Renegade, Jeep Grand Cherokee, Jeep Compass and Jeep Patriot posted sales gains in July versus July 2015, as did the Ram pickup truck and the Ram ProMaster and Ram ProMaster City vans. Two Dodge brand models – the Dodge Grand Caravan and the Dodge Challenger – also turned in year-over-year sales gains in July. Sales of the Fiat 500X were up year-over-year as well.   Jeep Brand Jeep brand sales were up 5 percent in July versus the same month in 2015. The Jeep Renegade’s 57 percent increase was the largest percentage increase of any Jeep brand model in July. In addition, the Jeep Grand Cherokee, Jeep Compass and the Jeep Patriot each logged a year-over-year sales gain. Last month, the Jeep Grand Cherokee – the most awarded SUV ever – won AutoPacific’s Ideal Vehicle Award for the Mid-Size SUV segment for the sixth consecutive year.   Ram Truck Brand Ram Truck brand sales, which include the Ram pickup, Ram ProMaster and Ram ProMaster City, were up 5 percent in July versus the same month a year ago. The increase was driven in part by double-digit percentage increases by the Ram ProMaster and the Ram ProMaster City vans. In addition, sales of the Ram pickup truck were up 2 percent compared with the same month a year ago. FCA US announced in July that it will invest $1.48 billion in its Sterling Heights Assembly Plant (Mich.) to retool it to build the next-generation Ram 1500 and support the future growth of the Ram Truck brand.   Chrysler Brand Chrysler brand sales were down 4 percent in July compared with the same month a year ago. The all-new 2017 Chrysler Pacifica continues to build momentum in the marketplace. Sales of the Pacifica were up 1 percent in July compared with the previous month of June. July was the minivan’s fourth month in the marketplace. The Pacifica earned an Editor’s Choice pick in July from Roadshow by CNET, in part for the “nicest interior and smart, family-minded technology.”   Dodge Brand Dodge brand sales were down 10 percent in July compared with the same month a year ago. The Dodge Grand Caravan and the Dodge Challenger each posted year-over-year increases in July versus the same month a year ago. Sales of the Grand Caravan were up 28 percent, while sales of the Challenger muscle car increased 7 percent in July. For the fourth year, the Challenger won AutoPacific’s Ideal Vehicle Award in the Sporty Car segment, having the “Most Ideal Sporty Car” in its segment.    FIAT Brand FIAT brand sales, which include the Fiat 500, Fiat 500L and 500X, were down 14 percent in July. In its first month on sale, the all-new 2017 Fiat 124 Spider posted 480 in sales in July. The 124 Spider revives the storied nameplate, bringing its classic Italian styling and performance to a new generation. Paying homage to the original 124 Spider nearly 50 years after its introduction, the 2017 Fiat 124 Spider delivers the ultimate Italian roadster experience with driving excitement, technology and safety combined with iconic design. In July, sales of the Fiat 500X were up 1 percent compared with the same month a year ago.    FCA US LLC Sales Summary July 2016
      Reflects Restated Sales
                      Month Sales
      Vol %
      CYTD Sales
      Vol %
      Model
      Curr Yr
      Pr Yr
      Change
      Curr Yr
      Pr Yr
      Change
      Compass
      7,005
      5,359
      31%
      57,565
      33,527
      72%
      Patriot
      11,288
      10,211
      11%
      71,926
      69,638
      3%
      Wrangler
      18,741
      19,828
      -5%
      119,042
      121,272
      -2%
      Cherokee
      15,451
      17,460
      -12%
      116,424
      122,568
      -5%
      Grand Cherokee
      16,704
      16,191
      3%
      116,850
      109,176
      7%
      Renegade
      10,057
      6,410
      57%
      61,907
      19,920
      211%
        JEEP BRAND
      79,246
      75,459
      5%
      543,714
      476,101
      14%
      200
      5,474
      9,526
      -43%
      41,676
      116,135
      -64%
      300
      2,369
      3,820
      -38%
      33,154
      28,730
      15%
      Town & Country
      3,341
      6,561
      -49%
      54,826
      46,214
      19%
      Pacifica
      7,911
      0
      New
      18,742
      0
      New
        CHRYSLER BRAND
      19,095
      19,907
      -4%
      148,398
      191,079
      -22%
      Dart
      3,341
      5,797
      -42%
      31,602
      54,759
      -42%
      Avenger
      0
      90
      -100%
      0
      1,152
      -100%
      Charger
      4,949
      5,936
      -17%
      57,852
      60,838
      -5%
      Challenger
      5,619
      5,241
      7%
      39,998
      42,332
      -6%
      Viper
      49
      57
      -14%
      350
      419
      -16%
      Journey
      6,376
      9,255
      -31%
      54,051
      62,008
      -13%
      Caravan
      10,055
      7,846
      28%
      84,140
      45,888
      83%
      Durango
      5,131
      5,270
      -3%
      43,665
      36,305
      20%
        DODGE  BRAND
      35,520
      39,492
      -10%
      311,658
      303,701
      3%
      Ram P/U
      39,827
      39,159
      2%
      270,637
      254,902
      6%
      Cargo Van
      0
      59
      -100%
      21
      2,115
      -99%
      ProMaster Van
      3,055
      2,167
      41%
      20,527
      14,225
      44%
      ProMaster City
      1,187
      636
      87%
      10,897
      3,682
      196%
        RAM BRAND
      44,069
      42,021
      5%
      302,082
      274,924
      10%
      Alfa 4C 
      43
      49
      -12%
      338
      354
      -5%
        ALFA BRAND
      43
      49
      -12%
      338
      354
      -5%
      500
      1,097
      1,940
      -43%
      8,857
      15,880
      -44%
      500L
      227
      314
      -28%
      2,527
      6,020
      -58%
      500X
      950
      942
      1%
      7,481
      1,218
      514%
      Spider
      480
      0
      New
      481
      0
      New
        FIAT BRAND
      2,754
      3,196
      -14%
      19,346
      23,118
      -16%
        TOTAL FCA US LLC
      180,727
      180,124
      0%
      1,325,536
      1,269,277
      4%
                          Total Car & MPV
      44,955
      47,177
      -5%
      374,543
      418,721
      -11%
            Total UV's
      91,703
      90,926
      1%
      648,911
      575,632
      13%
            Total Truck & LCV
      44,069
      42,021
      5%
      302,082
      274,924
      10%
       
       
    • By William Maley
      Subcompact crossovers are the hot thing at the moment and automakers are trying to make their models stand out. Whether it is using sleek styling, sporty driving dynamics, or value for money, every automaker is trying their best to get their vehicle noticed. For Fiat Chrysler Automobiles, they’re going for a two-prong attack in the class with models from Fiat and Jeep. The Jeep Renegade is aimed at those who want a subcompact that can tackle a trail, and the Fiat 500X provides some chicness for the class. We spent some time in both models to see if they can make some end roads in this growing class.
       




      While the 500X and Renegade may share a fair amount of mechanicals, the design of the two is worlds apart. The Renegade is classic Jeep with a square body, seven-slot grille, and a set of large headlights. The Renegade also features a fair number of Easter eggs throughout the exterior. The head and taillights feature little Jeep grille-and-headlights logos, and a small Willys MB on the bottom of the windshield. This is basically the vehicle equivalent of a hidden object puzzle you might have done back in school. 
      Remember the first commercial for the Fiat 500X where a blue pill falls into the fuel filler of a standard 500. The owner turns around and somehow his vehicle has engorged into something bigger. That’s how you can summarize the design of the 500X. Compared to your standard 500, the 500X is 28.6 inches longer and 15.6 inches wider. A lot of the design traits from the 500 such as the round headlights, long chrome bar holding the emblem, and rectangular taillights are present on this crossover.
       
      Moving inside, the Renegade takes some inspiration from the Wrangler with a rugged dash design and a grab bar for the passenger. Higher trims such as our Limited tester feature a decent amount of soft-touch materials. Like the exterior, the Renegade’s interior has Easter eggs strewn about. The tachometer with has a splash of mud to illustrate the redline, a seven-slot grille design for the speaker grilles, and the frame around the radio having ‘Since 1941’ stamped. The only complaint we have with the Renegade’s dash is the placement of the climate controls. They are mounted a bit too low to reach easily.
       




       
      The 500X’s interior is Fiat’s best effort to date. The overall look has some traits of the standard 500 such as a retro design for the dash. But where the 500X stands out is in the material choices. Fiat went all out with adding soft-touch materials on the dash and door panels to help make the model feel very premium. Our Trekking Plus tester came upholstered in brown leather that added a touch of class that’s nonexistent in other competitors.
       
      Both models offer plenty of head and legroom for passengers sitting up front. In the back, headroom is decent for most passengers even with the optional sunroof fitted. Legroom ranges from decent for most folks to almost nonexistent depending on how tall the person sitting up front is. The seats themselves are lacking sufficient support for long trips. If cargo capacity is a priority, then consider the Renegade as it offers 18.5 cubic feet with the rear seats up. The 500X is towards the bottom of the class with only 12.2 cubic feet mostly due to the design of the vehicle.
       
      For your infotainment needs, Fiat and Jeep offer a lineup of Uconnect systems from three to 6.5 inches. Our test vehicles featured the optional 6.5-inch system. Uconnect is still one of the easiest systems to use thanks to a simple interface and very fast performance. We hope FCA considers adding Apple CarPlay and Android Auto compatibility in the future.
       




      In terms of engines, both the 500X and Renegade come standard with a turbocharged 1.4L with 160 horsepower. The downside to this engine is that it is only available with a six-speed manual. If you want an automatic, then you’ll need to get the engine found under the hood of our test models; a 2.4L four-cylinder with 180 horsepower and 175 pound-feet of torque. We’re not fans of the 2.4L in the any of the FCA vehicles we have driven and this trend continues with the 500X and Renegade. Leaving a stop, there is plenty of oomph to get up to speed in urban environments. Out on the rural roads and highways, the 2.4L struggles to get up to speed at a decent clip. Not helping matters is the engine sounding unrefined. The engine noise during hard acceleration could actually drown out the radio. 
      The one bright spot for the powertrain is the nine-speed automatic. This transmission has been a sore point in a number of FCA vehicles for sluggish shifting and not feeling refined. With the 500X and Renegade, it seems FCA has been able to fix many of the wrongs of the nine-speed. Gear changes are much faster and smoother than in previous models.
       
      Both models can be equipped with either front-wheel or all-wheel drive. Both models came equipped with all-wheel drive. This system primarily works in front-wheel drive to help improve fuel economy. But if the system detects slip, it will hook up the rear axle and start sending power for better traction. The Renegade has the more advanced all-wheel drive system known as Jeep Active Drive. This system gives the driver the choice of various drive modes (Auto, Snow, Sand, and Mud) that adjusts the all-wheel drive, steering, and transmission to provide the best settings for the conditions at hand. There’s also a 4WD lock that splits power 50:50 to provide added traction. Thanks to a freak snow storm in April, I was able to put the system to the test. Driving on some snowy roads, the system was able to keep the Renegade moving without the tires spinning.
       
      The Renegade Trailhawk takes the system a step further with Active Drive Low. As the name suggests, this system features low range via a two-speed transfer case. This allows the Trailhawk to tackle more difficult obstacles such as rocks.
       
      Fuel economy is terrible for the class. The Fiat 500X is rated at 21 City/30 Highway/24 Combined. The Renegade matches the 500X in city and combined fuel figures but is only rated at 29 for the highway. Our average for the week was a very disappointing 22.1 MPG in both vehicles. This is a figure you would expect in a larger crossover, not a subcompact.
       




       
      The ride in both vehicles is on the firm and harsh side. You’ll be able to tell how bad the roads around you are as bumps and road imperfections are transmitted to the seats. Interestingly, both the 500X and Renegade are quite fun around corners. The vehicles feel agile and the steering has some decent weight. But as the Mazda CX-3 has shown, you can have excellent handling characteristics and a decent ride in a crossover. On the highway, the Renegade is the noisier of the two with a large amount of wind noise coming inside.
       
      As for pricing, the 500X and Renegade get off to a good start. The Renegade starts at $17,995 and the 500X comes in at $20,000. Where it falls apart comes in the higher trims. Our two testers had price tags of just under $32,000 - $31,695 for the Renegade Limited and $31,800 for the 500X Trekking Plus. For that same amount of money, you can get into a well-equipped or even a loaded compact crossover. Neither one of these models is worth their high price tags.
       
      The subcompact crossover class has become a hotly contested class in only a couple of years and you have to show up with your a-game if you want to make an impact. In the case the 500X and Renegade, FCA dropped the ball. The larger four-cylinder engine should be shown the door for its issues in terms of refinement and fuel economy. The ride characteristics need a rethink and the value for money argument is tough when dealing with the higher trim models. This is very disappointing as the two models have some characteristics that should put them a bit higher in the class. The Fiat 500X’s interior looks and feels like something you would find in a luxury model. The Jeep Renegade can go into places that other subcompact crossovers not even dare try thanks to a clever all-wheel drive system and Jeep’s off-road know-how.
       
      But these positive points cannot overcome the numerous issues both of the vehicles have. It would be best to avoid them.
       
      Cheers: Off-Road Ability (Renegade), Interior Styling and Features (500X), Nine-Speed Automatic Is Much Better
      Jeers: 2.4L Is Terrible, Rough Ride, Pricing for Higher Trims
       

      Album: Review: 2016 Fiat 500X Trekking Plus AWD
      10 images 0 comments

      Album: Review: 2016 Jeep Renegade Limited 4X4
      10 images 0 comments

      Disclaimer: FCA Provided the 500X and Renegade; Insurance, and One Tank of Gas 
      Year: 2016
      Make: Fiat
      Model: 500X
      Trim: Trekking Plus AWD
      Engine: 2.4L Multi-Air Four-Cylinder
      Driveline: Nine-Speed Automatic, All-Wheel Drive
      Horsepower @ RPM: 180 @ 6,400
      Torque @ RPM: 175 @ 3,900
      Fuel Economy: City/Highway/Combined - 21/30/24
      Curb Weight: 3,278 lbs
      Location of Manufacture: Melfi, Italy
      Base Price: $29,000
      As Tested Price: $31,800 (Includes $900.00 Destination Charge)
       
      Options:
      Trekking Plus Collection 1 - $1,900
       
      Year: 2016
      Make: Jeep
      Model: Renegade
      Trim: Limited 4X4
      Engine: 2.4L Multi-Air Four-Cylinder
      Driveline: Nine-Speed Automatic, All-Wheel Drive
      Horsepower @ RPM: 180 @ 6,400
      Torque @ RPM: 175 @ 3,900
      Fuel Economy: City/Highway/Combined - 21/29/24
      Curb Weight: 3,348 lbs
      Location of Manufacture: Melfi, Italy
      Base Price: $26,995
      As Tested Price: $31,695 (Includes $995.00 Destination Charge)
       
      Options:
      6.5-inch Navigation Group with Uconnect - $1,245
      Advanced Technology Group - $995
      Beats Premium Audio System - $695
      Safety and Security Group - $645
      Passive Entry Keyless Enter n' Go Package - $125


      Click here to view the article
  • Recent Status Updates

  • Who's Online (See full list)