Chrysler
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Detroit News
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From LeftLaneNews
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Chrylser will make a final dicision in the final quarter of 2006 on the Firepower. It's still on the agenda. Corvette competitor?
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Chery-Chrysler deal to get OK American automaker is expected to become the first to build Chinese autos for U.S. market Rick Blanchard | Link to Original Article @ The Detroit News DaimlerChrysler AG and Chery Automobile Co. struck a deal on Dec. 30 making Chrysler the first major carmaker to confirm plans to sell Chinese-built cars in the United States. Chery is expected to produce a subcompact for Chrysler that will likely be sold in the United States under the Dodge brand in 2009. Chery, based in Wuhu in Anhui province, is one of China's fastest-growing automakers and sold 50,000 vehicles abroad in 2006. State-owned Chery previously considered exporting vehicles …
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The incentive war is on. Chrysler's Miles of Freedom incentive ups the ante. The program offers: A debit card for $2,400 -- the amount of money Chrysler calculates is needed to buy 12,000 miles worth of gasoline for two years at the Chrysler group's corporate average fuel economy rate of 21.8 mpg. The plan is based on a $2.15 per gallon price of gasoline. Free scheduled maintenance for as many as 24,000 miles. A five-year, 60,000-mile full mechanical warranty, compared with the standard three-year, 36,000-mile warranty. Excluded from the program are the 2005 and 2006 Chrysler 300; Dodge Viper, Magnum, Charger and Sprinter; and all SRT8 ve…
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Chrysler Group offers dealers cash to take cars TERRY KOSDROSKY / Dow Jones Newswires ORLANDO, Fla. - The Chrysler Group is offering dealers $1,000 for every car they sell over the next two months if the dealer doesn't cut its March vehicle order and accepts cars from the automaker's bank of overbuilds, dealers said. Chrysler, the U.S. arm of DaimlerChrysler AG, wouldn't confirm the plan, saying it doesn't disclose details of its dealership workings. But three separate dealers who spoke with Dow Jones Newswires at the National Automobile Dealers Association convention said the plan is designed to help soften the blow for dealers being pressured to accept more vehicles…
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Chrysler Has No Firepower ...plans, that is. Not anymore. Chrysler Group is letting the flame go out on its Firepower concept, the Hemi-powered “grand tourer” that stoked performance ambitions for the auto maker’s core brand. “We’re not doing Firepower,” Trevor Creed, senior vice president-design, says. “We just couldn’t find a viable way to do it.” Reeling from the effects of bloated inventories, which led to a $1.5 billion third-quarter loss and an internal drive to shave $1,000 per vehicle-production cost, Chrysler is refocused on profitability. Against this backdrop, the auto maker has said no product will enter its pipeline unless it has realistic profit poten…
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Inside Line
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Chrysler Hopes to Consolidate Dealerships Voluntary program targets Toyota's per-store sales By MARY CONNELLY | AUTOMOTIVE NEWS AutoWeek | Published 02/16/06, 10:06 am et In a bid to boost dealership profits and sales, the Chrysler group wants more metropolitan stores selling the company's three brands under one roof. "One thing that is very important to us is if our dealers are profitable, and a key to profitability is throughput," says Mike Manley, Chrysler group vice president of dealer operations. Throughput is the number of new vehicles a store sells annually. Combining Chrysler, Jeep and Dodge in a single metropolitan store increases sales volume beyond…
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Chrysler is debuting an Imperial concept at NAIAS. Likely to have the 6.1 Hemi and be an EWB 300. Should it be a model or a stand-alone division? No doubt this will be a ULS competitor at a substantially lower price.
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Fuel mileage fears doom Chrysler Imperial Link to Original Article @ DetNews Chrysler, the fourth-largest U.S. automaker, dropped plans for the new Imperial luxury sedan because of rising gasoline prices and tougher fuel-economy regulations, Bloomberg News and the Windsor Star reported today. Executives made the decision within the past few weeks, Chrysler spokesman Ed Saenz told Bloomberg today. The Auburn Hills-based automaker unveiled the Imperial two years ago and had planned to start production in 2009 in Brampton, Ontario. "There was no business case for us to bring it to the market," Saenz said. "We will continue to look for a future product for the plant." Th…
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Chrysler Imperial one step closer to production Link to Autoblog Chrysler may be in the middle of a major ownership change, but the beat goes on when it comes to future vehicle plans. The folks over at The Star are reporting that Chrysler is going to build a fifth model at their Brampton plant in Ontario, which currently assembles the 300, Charger, and Magnum. Challenger production is scheduled for next year, and the fifth vehicle, which could be built in 09' as a 2010 model, is expected to be the Imperial. Chrysler is reportedly investing $700 million in the Brampton plant to bring the Imperial to life, and the Rolls-Royce and Bentley wannabe is expected to ride on …
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http://business.theglobeandmail.com/servle...y/Business/home
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Detroit News
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Chrysler issues sharp rebuke to Advertising Age On December 3rd, 2009, AdvertisingAge wrote an article criticizing Chrysler for using taxpayer funds to pay an Italian advertising agency to produce a commercial. A rather bitter Peter Delorenzo, from AutoExtremist.com says, "I'm sure the hundreds of people from BBDO who are being blown out the door are going to just love this, not to mention the U.S. taxpayer." If Chrysler was bent on social causes, the brand should have contributed to food banks in the region surrounding its suburban-Detroit headquarters. "At least there would be a shred of relevance in that gesture." Chrysler responds: "First, this film was crea…
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Sadly, I have done a lot to my 99 Plymouth Breeze..but it's not all my fault! One day I came out of work and I had found that someone had run into the front of my car...the whole front was crushed in. Needed: -new headlights -drivers side fender -entire front grill and bumper One day I was hit from the side and I needed: -new driver's side doors -new driver's side mirror On Christmas Eve, I was going to my Sister in-law's house...it had snowed a couple days before, but the snow had melted. I came to this lake sized puddle. Of course, I decided to go through it because I had seen a little neon go through. so right in the middle of the puddle, An SUV come …
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Chrysler puts '06 vehicles in used lots Automaker allows dealers to add deep discounts in effort to unload cars and trucks Josee Valcourt / The Detroit News In a last-ditch effort to unload 2006 cars and trucks, Chrysler allowed its dealers to designate the new vehicles as "loaners" for as little as one day before selling them as used for steep discounts. The unusual sales tactic came at the end of May as the Auburn Hills-based division of DaimlerChrysler AG was trying to finish the month on a strong note. Chrysler, Dodge and Jeep dealers can use new vehicles as loaners for test-drives or for customers who need a car while theirs is in service. In the past, dealers …
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As we learned this morning from Bob Nardelli's appearance on CNBC, Chrysler LLC is getting into the electric vehicle game and plans to have something on the market by the end of 2010 – the same time GM plans to start selling the 2011 Chevy Volt. The vehicle in question will be one of these three EVs, all of which are powered fully or in part by electrons. The first and perhaps most exciting is the Dodge EV, which is an all-electric sports car like the Tesla Roadster. In fact, Chrysler seems to have taken a few pages from Tesla's playbook, which is evident by the fact that its EV is wearing the body of a Lotus Europa at the moment. Lotus also worked with Tesla on the dev…
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http://www.media.chrysler.com/dcxms/assets...m_Viability.pdf The good stuff's on from page 100, including the upcoming Jeep Grand Cherokee and Chrysler 300, and even more importantly, a 2009-2015 chart of upcoming planned vehicles! And the term 'Contract Manufacturer' =Built by Chrysler, badged/lightly restyled by somebody else (i.e. Chrysler Town & Country/Dodge Grand Caravan to Volkswagen Routan). Enjoy!
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Chrysler LLC Statement Company's Second Quarter and Half Year Financial Performance Aug. 1 /PRNewswire/ Link to Press Release AUBURN HILLS, Mich., Aug. 1 /PRNewswire/ -- The following can be attributed to Ron Kolka, Executive Vice President and Chief Financial Officer, Chrysler LLC. "Chrysler LLC today announced that in spite of the severe economic and industry challenges, we continue to perform ahead of our financial plan for the second quarter and first half of 2008. The Company measures its financial performance against two primary financial metrics: Cash/Marketable Securities and EBITDA (earnings before interest, taxes, depreciation, amortizat…
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The Daily Auto Insider Friday, February 10, 2006 February 2006 DaimlerChrysler is "scanning the globe" for a joint-venture partner to develop and build a subcompact car for its Chrysler unit to sell in North America, The Associated Press reported, citing company spokesman Jason Vines. The company is in talks with several automakers because it cannot profitably build a subcompact, or B-segment car, without another automaker as a partner, Vines said. "We're hoping to get a B-car someday, but we will not build it on our own," Vines said. Vines confirmed a report saying Chrysler has been in talks with Hyundai and Volkswagen about a subcompact car joint development pr…
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Chrysler may be sold in pieces to other companies October 22, 2008 9:46 AM ET Link to Article DETROIT (AP) - A person briefed on discussions about selling Chrysler LLC says the automaker could be sold in pieces to other companies. Chrysler's majority owner, Cerberus Capital Management LP, has been talking with General Motors Corp., the combined companies Nissan Motor Co.-Renault SA and other companies about selling Chrysler. The person said Tuesday night that many combinations are being discussed. The person asked not to be identified because the talks are private. Nissan seeks about 20 percent of Chrysler: paper October 22, 2008 6:07 AM ET Link to Article …
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Nardelli, Ex-Home Depot, In At Chrysler New CEO will take over, LaSorda president by Paul A. Eisenstein | (2007-08-06) | Link to Original Article @ TCC He's used to getting some big payouts, but just how much Chrysler's new CEO will be taking home from his assignment in Detroit is apparently going to remain a top secret. Declaring himself "very impressed" with what he's found at Chrysler, former General Electric and Home Depot executive Robert Nardelli met with reporters at the automaker's sprawling headquarters, in the suburb of Auburn Hills, on Monday. It marked the official change in ownership, as the private equity firm, Cerberus Capital Management, formally took…
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William Maley Staff Writer - CheersandGears.com September 10, 2012 If you have been wondering how much the new 2013 SRT Viper will cost, Chrysler has the answer. Today, the company has announced the Viper will start at $97,395* (excludes $1,995 destination charge). That will net you 8.4L V10 engine with 640 HP and 600 lb-ft of torque, and a six-speed manual transmission. Stepping up to the Viper GTS gets you a two-mode suspension and premium interior furnishings. The pricetag also rises to $120,395 (plus destination). Orders for the new Viper begin in mid-November. Source: Chrysler William Maley is a staff writer for Cheers & Gears. He can be reached at willi…
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By William Maley Staff Writer - CheersandGears.com January 21, 2013 If you're wondering why your Viper is taking longer than expected, we have an answer for you. SRT CEO Ralph Gilles tells the Detroit Free Press that Vipers will begin arriving mid-February, about a month and half later than originally promised. "I apologized to our dealer base. We are just holding ourselves to a higher standard," Gilles said. Gilles explained that Chrysler wants to make sure every Viper that rolls of the line is perfect before being shipped out to dealers. "To say it bluntly, the old Chrysler would have shipped them out already. It's really a hand-made car, so it takes a little fi…
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Before its arrival at dealers this spring, Chrysler has the revealed pricing structure for the 2017 Pacifica minivan. The base LX will start at $29,590 (includes a $995.00 destination charge). This undercuts the Honda Odyssey LX ($30,300 with destination) and Toyota Sienna L ($29,750 with destination). Standard equipment includes a backup camera, 17-inch aluminum wheels, power driver’s seat, six-speaker sound system, Stow-N-Go seating, and an active noise cancelation system. The remainder of Pacifica lineup looks like this, Touring ($31,490) - Automatic headlights, power sliding doors, and SiriusXM satellite radio Touring L ($35,490) - Leather seats, heated fro…
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This morning, Chrysler released information on the 2024 Chrysler Halcyon concept. The concept highlights a host of future technologies that Chrysler and Stellantis are working on. Halcyon combines three complementary technologies, STLA Brain, STLA SmartCockpit, and STLA AutoDrive to achieve "Harmony in Motion" and features a new lithium-sulfur battery technology that promise a 60% lower carbon footprint than the best-in-class batteries available on the market today. The highly streamlined sedan, built on the STLA-Large platform, is optimized for range and efficiency. A functional front air blade and side aero blades direct airflow around the vehicle to improve aerody…
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Chrysler News: 2027 Chrysler Pacifica Refresh Debuts New Front Fascia and Illuminated Wing Badge
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Chrysler invented the minivan 43 years ago, and more than 16.6 million of them later, the Pacifica arrives at the 2026 New York International Auto Show with its most significant visual update in years. The 2027 Pacifica debuts a new front fascia that Chrysler says defines the design language for the brand going forward. A New Face for the Brand The exterior redesign applies to the Select, Limited, and Pinnacle trims. The new entry-level LX (the renamed Voyager) retains its familiar exterior and offers the lineup's lowest entry point, well-equipped with power-sliding doors and heated seats and steering wheel. On the upper three trims, the centerpiece of the r…
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By William Maley Staff Writer - CheersandGears.com April 3, 2013 Chrysler is on a bit of a diesel kick by introducing three different vehicles with the choice of a diesel engine: Jeep Grand Cherokee, Ram 1500, and the new Ram ProMaster. But there could be a forth model getting a diesel engine. Chrysler president and CEO Saad Chehab told Wards Auto that the company is investigating the possibility of a diesel powered Chrysler 300, but a decision is way off. In Europe, the Chrysler 300 is sold as the Lancia Thema and comes with the option of a 3.0L Diesel V6 built by VM Motori, the same company that will be building the diesel engine for the Grand Cherokee and Ram 1500.…
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William Maley Staff Writer - CheersandGears.com October 29, 2013 Next week comes a bit of madness. I'm referring to the 2013 Specialty Equipment Market Association (SEMA) Show taking place in Las Vegas next week. The show gives automakers a chance to show what crazy things they have cooked up. For Chrysler, SEMA is where their Mopar brand can show off some of their new parts and accessories. Plus some crazy ideas as well. I had the chance to head down to Chrysler's headquarters in Auburn Hills, Michigan to see some of the twenty vehicles that will be at SEMA next week. Ram Sun Chaser Out of all the vehicles shown at Chrysler's SEMA preview, the Ram Sun Chaser was t…
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William Maley Staff Writer - CheersandGears.com September 22, 2012 Back in July, SRT CEO Ralph Gilles told Automotive News that around 15 to 20% of the 2,300 Chrysler dealers (about 340 to 460) would be able to sell the Viper. Now, that amount has shrunk. According to USA Today, the amount of dealers that will be able to sell the Viper is now around 5% (100 to 150 dealers). That number comes from Ralph Gilles. All 2,300 Chrysler dealers are being sent a letter outlining what will need to happen for them to sell the Viper. The No. 1 requirement "Is first of all, to have the fire, the passion. That's the unofficial requirement -- that you have a love affair with the c…
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Fiat Chrysler Automobiles' five-year plan for each of its nine core brands doesn't sound realistic to analysts. Automotive News Europe reports that analysts cannot see FCA achieving its goal of doubling or tripling sales without investing a lot of money, something FCA doesn't quite have at the moment. Analysts believe for FCA to pull this monumental plan off, they'll need to cut some brands out. “The problem is PowerPoint presentations are a lot easier than real life. These brands need a huge amount of work to get where they need to be. The world changes very slowly and you have brands at the bottom of the pile in many regions. It’s not going to happen overnight,” said H…
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As Fiat Chrysler Automobiles continues its cooperation with the federal investigation into its falsified sales, they have begun to issue restate monthly sales results. They reveal that the Chrysler 200, a midsize sedan the company was hoping to be a success was even less popular than we first though. Automotive News reports that in a three-month period from July to September 2015, FCA reported that it sold 21 percent more 200s (8,577) than the new numbers. To put this in perspective, the second-largest discrepancy in sales was the Dodge Charger with 2,258 over-reported sales. "There was a lot of pressure on the 200 to offset the loss of sales from discontinuing…
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As the Ford Falcon and current Holden Commodore head off into the sunset, Australian police departments are wondering what should replace them. V6 models were used for patrol duty, while V8 models would be used for pursuits. One possibility is the Chrysler 300. “With the going away of Australian manufacturing, from potential fleet customers we’ve had a lot of enquires for the 300,” said Steve Zanlunghi, head of FCA Australia to Car Advice. “Specifically we’ve had the police come to us, asking for a bid, if it would make sense.” Zanlinghi didn't mention whether the police were interested in the V6 or the 300 SRT with a 6.4L V8. Our possible guess is that the…
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William Maley Staff Writer - CheersandGears.com August 7, 2013 Bob Lee, head of Fiat and Chrysler global Powertrain said that the company will not be investing in electrified powertrains till consumers are willing to pay for it. He said this at the 2013 CAR Management Briefing’s Advanced Powertrain Forum this week. Lee explained that consumers aren't willing to pony up the money to cost of battery packs, electric motors and chargers that hybrids and electric vehicles are saddle with. He said that it might take up to ten years before consumers are willing to pay for the tech. "Many customers want to reduce C02, but they aren't willing to change their lifestyle or pay …
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By William Maley Staff Writer - CheersandGears.com January 30, 2013 Today, Chrysler announced its earnings for 2012 and the results are staggering. The company reported a net income of $1.7 billion, up substantially from minuscule $183 million profit earned in 2011. Chrysler also saw their 4th quarter net income increase from $225 million in 2011 to $378 million in 2012. The massive increases is due to Chrysler's market share increasing to 11.4%. Chrysler also unveiled a updated product plan for all of its brands. The big news is that Chrysler and Dodge have dropped their Fiat-based models. Instead, Fiat will introduce five new models including compact and subcompact …
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Chrysler has announced some new appointments to its leader which take effect immediately. Head of the Ram Truck brand Reid Bigland becomes the new head of Alfa Romeo in the North America. Robert Hegbloom, who was the brand director of Ram Trucks becomes the head of the brand. With these appointments, both Bigland and Hegbloom become members of Chrysler's NAFTA Leadership Team. Bigland also gets a seat on Fiat Chrysler Group Executive Council – the highest decision-making body for Fiat Chrysler Automobiles. Source: Chrysler William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] you can follow him on twitter at @re…
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Fiat Chrysler Automobiles has made the decision to cut the Chrysler brand in the UK to focus more on Jeep. "We have made a decision to shift our focus away from Chrysler and toward other FCA brands," a Chrysler spokesman told Automotive News. Fiat Chrysler Automobiles' deputy UK managing director Karl Howkins told Autocar the decision came down to Chrysler products not being very appealing to UK customers and that the CO2 emissions on their lineup were too high. Chrysler sold the 300, Voyager (Town and Country), and a rebadged versions of the Lancia Delta and Ypsilon. According to the UK’s Society of Motor Manufacturers and Traders, Chrysler only sold 1,982 vehicles la…
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William Maley Editor/Reporter - CheersandGears.com January 13, 2012 Chrysler CEO Sergio Marchionne on comfirmed on Wednesday that a new Ram Dakota is being worked on. Sergio also said that there was a "better than 50 percent chance" the truck will be a unibody. Now if that seems like bad news, there is some good news. Marchionne said that diesel power in the new Dakota is a likely option. The Jeep Grand Cherokee is set to get a 3.0L turbodiesel V6 in the U.S. next year, so spreading the cost of the engine over several vehicles would be to the company’s advantage. Also rumored to get the turbodiesel is the Dodge Durango. Source: Inside Line, Ward's Auto View full…
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William Maley Editor/Reporter - CheersandGears.com January 3, 2011 2011 saw Chrysler rise up and build momentum and profits with models like the new Chrysler 300 and revised Jeep Wrangler. However, Chrysler CEO Sergio Marchionne is being cautious. In an email obtained by The Detroit News, Marchionne says 2012 will be another pivotal year. "Over the past 12 months, we successfully changed the conversation from Chrysler's survival to products and service that consumers expect and want from a great American automaker. What's past is prologue. The stage is set for another critical year in our drive to transform Chrysler." Marchionne said in the email that the progress …
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William Maley Staff Writer - CheersandGears.com September 11, 2012 Yesterday, Fiat-Chrysler CEO Sergio Marchionne led a day-long product preview in Las Vegas for Chrysler and Fiat dealers. The preview showed products from Alfa Romeo, Chrysler, Fiat, and Jeep. According to Reuters, Alfa Romeo showed two new models to dealers. Most likely, one of those models was the 4C coupe. The other one could have been a crossover or the new Giulia. Chrysler showed the 100 Subcompact and the new 200. The Wall Street Journal is reporting that Chrysler is spending $2 billion on the next 200, with the expectation to double sales. The new 200 will come with a nine-speed automatic trans…
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William Maley Staff Writer - CheersandGears.com August 13, 2012 Chrysler's Pentastar V6 has been getting rave reviews since coming out in the new Grand Cherokee in 2010. However, the V6 has hit a snag. A small portion of the Pentastar V6s (about 0.5% or 7,500 engines out of the 1.5 million engines built so far) to have faulty cylinder heads. Owners of Jeep Wranglers equipped with the 3.6L complain of a ticking sound coming from the left side of the engine, stalling, loss of power or misfires coming from cylinder No. 2 in NHTSA filings. The Jeep Wrangler isn't the only one Chrysler vehicle with this problem. Automotive News has learned from Chrysler dealers and Allpar…
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William Maley Editor/Reporter - CheersandGears.com June 4, 2012 Chrysler design chief Ralph Gilles says design changes are coming for future Chrysler products. The current lineup is known for their boxy design aesthetic, but Gilles says that's not in line with the industry. Speaking at the annual Mackinac Policy Conference, a gathering of Michigan political and business leaders, Gilles says aerodynamics are becoming an important design aspect. He uses the Audi A7 and the new Toyota Avalon as vehicles that can have the aerodynamic design usually associated with sports cars. "The wind is starting to sculpt these vehicles," Gilles said. Gilles said Chrysler will be aba…
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There is a huge difference between hybrid and plug-in hybrid models. So it seems interesting that Chrysler will be dropping the plug-in part of the Pacifica Plug-In hybrid in their marketing for almost all of the U.S. Bloomberg reports that Chrysler will advertise the Pacifica PHEV as the Pacifica Hybrid for the majority of the country. The reason is that most Americans see 'plug-in' and think limited range. For the record, a plug-in hybrid can run on electric power alone for a time. Once the battery is depleted, the gas engine will kick on to provide propulsion and charge the battery. There is one exception to this plan, California. Tim Kuniskis, head of FCA's …
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William Maley Staff Writer - CheersandGears.com September 24, 2013 Last night, Chrysler announced they are preparing to do an initial public offering of some of its shares. This comes as a result of Chrysler/Fiat CEO Sergio Marchionne and the UAW's Retiree Medical Benefits Trust (AKA the VEBA trust) not coming to an agreement concerning the 41.5 percent stake of Chrysler the trust holds. Chrysler hasn't announced the amount of shares nor the price in their IPO documents, but it did set a maximum proposed offering price of $100 million. J.P. Morgan is the the investment bank for Chrysler's IPO. The shares will come from the VEBA trust. Why is Chrysler doing an IPO? Fi…
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By William Maley Staff Writer - CheersandGears.com January 22, 2013 We know that Chrysler has been readying a new nine-speed transmission to be used in certain models, but we didn't know how many of these gearboxes would be used. According to Bloomberg, Chrysler CEO Sergio Marchionne said the company expects to sell around 200,000 vehicles equipped with the new nine-speed automatic. The new nine-speed will come in three models: Chrysler's redesigned 200, Dodge's Dart, and Jeep's new Liberty. The nine-speed transmission is the “future of the front- wheel drive and all-wheel drive world for Chrysler,” Marchionne said to reporters last week. The nine-speed will first ap…
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Tomorrow morning, Chrysler will unveil the Chrysler Halcyon Concept EV on their website. The Halcyon is an evolution from the Chrysler Airflow Concept shown in 2022. Chrysler has teased various vague images over the last few weeks, showing an updated logo and some various, undefined body lines with little else in the way of clues. Two things that stand out from the teaser images are the shape of the back glass and the full-width tail lamps. What we can expect is that the Halcyon will be a two-row crossover, and it will sit on the Stellantis STLA platform. We also already know that since the merger, Stellantis planned on moving most of the U.S. brands to PSA platforms…
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The Chrysler Pacifica is often considered the best of a very small market. There are only five mini-vans left on the market, and only one of those has all-wheel drive optional, the Toyota Sienna. That stat could be changing if rumors about the Chrysler Pacifica prove true. According to Automotive News, Chrysler is hard at work on an AWD option for the Pacifica. While not officially confirmed by Chrysler, the union chief for the Windsor plant where Pacifica is built appears to have spilled the beans. If AWD does come to the Pacifica, it may not be until the 2021 model year. Adding AWD would be likely help to boost sales in the North East US and in Canada. Chry…
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Last year, Chrysler announced that the 2012 Chrysler 200 and Dodge Avenger would be equipped with a six-speed dual-clutch automatic transmission from parent company Fiat. One year later, Chrysler has dropped the idea to put a dual-clutch transmission for now. "We were concerned about the refinement and how the American customers might perceive the transmission," said Chrysler Spokesperson, Vince Muniga. Muniga also said the decision was made in the summer and will "look for other future products" to put it in for the North American market. Source: Automotive News (Subscription Required) View full article
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Chrysler showed off at the January 2022 CES (Consumer Electronics Show) the Airflow Concept in White which we covered in the following story. Today Chrysler is now showing the Airflow Graphite, the alter-ego to the Airflow Concept showing Chrysler embodies a new contemporary, tech-forward, sleek, sophisticated package that combines Chrysler Galaxy Black exterior with Cyprus Copper Accents inside and out. This combination of color features throughout the spacious interior, along the panoramic glass roof and continues onto select surfaces of the 22-inch wheels working to create the refined, sophisticated design you see here. Chrysler had the foll…
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Chrysler can't seem to catch a break with their nine-speed automatic. Case in point is a recall for around 26,000 Chrysler 200 models equipped with 3.6L V6 and nine-speed because the transmission will not go into park. According to a statement, the problem is due to inconsistent assembly procedures at a supplier's plant. At the time of this writing, five owners have experienced this problem. Dealers will inspect the transmission and replace if necessary. In the meantime, Chrysler is asking owners to put on the parking brake to prevent their vehicle from rolling back. Source: Chrysler Press Release is on Page 2 Statement: Park Engagement February 26, 2015, Auburn H…
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William Maley Editor/Reporter - CheersandGears.com January 24, 2012 Chrysler/Fiat has some big plans coming up within the next few years. Starting in 2013, Chrysler will introduce new midsize sedans to replace the 200 and Dodge Avenger. The new sedans will be based on the Dodge Dart's platform. Following along will be the replacements for the Jeep Compass and Liberty, which will also be based on the Dart's platform. Despite using a compact car architecture, Fiat/Chrysler CEO Sergio Marchionne said, ”It’s going to be a trail-rated, full-blooded Jeep that has its origins in the architecture of a sports car.” Chrysler is also considering a premium compact hatchback in …
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Chrysler is moving on up with their new 300 by offering a new Luxury Series trim level that brings forth more plushness and luxury. The outside of the 300 Luxury Series differs from other 300s with a unique platinum-chrome finish applied to the mesh grille in addition to the door handles, mirror caps and other various trim pieces. Nineteen or twenty-inch wheels complete the look. Inside, the seats, dashboard, door panels and center console are wrapped in Poltrona Frau “Foligno” leather upholstery. The steering wheel is also wrapped in the same upholstery and is featured with metal paddle shifters and a unique chrome accent ring. The floor is lined with 18-ounce Berber m…
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William Maley Staff Writer - CheersandGears.com December 18, 2012 When we last reported on Chrysler minivan debacle back in May, CEO Sergio Marchionne said that Town and Country would be leaving after 2013, leaving the Dodge Caravan as the sole minivan. Taking the place of the Town and Country would be a crossover in 2014/2015. According to a report from the Detroit Free Press, Chrysler still hasn't made a decision. Chrysler is showing four different concepts; a minivan and crossover from Chrysler and Dodge to consumer clinics before making the final decision. When the decision is made, the redesigned minivan and new crossover will go on sale in 2014 as a 2015 model.…
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Chrysler News: Chrysler Surprises Dealers With Next-Gen Charger, Barracuda, Grand Cherokee Trailhawk
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Fiat Chrysler Automobile held their annual dealers meeting in Las Vegas and had some surprises in store for the dealers who attended. Automotive News learned from several dealers that FCA would possibly be bringing out up to 30 new or refreshed products within the next two years. Some of the products include the next-generation Dodge Charger which will look more like the 1999 concept designed by Tom Gale, and a Dodge Barracuda convertible. Both models will be underpinned by the Alfa Romeo Giulia's platform. Other models that were shown to dealers include, An Alfa Romeo SUV which is expected to be underpinned by the Giulia's platform The standard and Abarth ver…
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By William Maley Staff Writer - CheersandGears.com March 18, 2013 The current Chrysler 200 will have a short 2014 model year according to some internal documents. Automotive News got their hands on the documents and report that production of the 2014 Chrysler 200 will start in July at Chrysler's Sterling Heights plant in Michigan and end in the second week of January. A bit surprising since production usually would run well through 2014. This has led everyone to think the next-generation 200 is just around the corner. This is further substantiated by Chrysler CEO Sergio Marchionne saying the introduction of the new 200 would be delayed till early next year. All we k…
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William Maley Staff Writer - CheersandGears.com July 17, 2012 Chrysler announced today that they will idle their Mack II engine plant in Detroit in September as production of the 3.7L V6 comes to an end. The 3.7L V6 powered the Dodge Nitro, Dodge Ram, and Jeep Liberty. The Dodge Nitro has already been shown the door. The current Jeep Liberty will end its run next month as the Toledo, Ohio plant where it’s built undergoes a $500 million upgrade. The Ram drops the 3.7L V6 for the 3.6L Pentastar V6 due out later this year. About 200 employees who work at the Mack II engine plant have received received layoff notices but won’t lose their jobs. A Chrysler spokeswoman ex…
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During Stellantis EV Day and Software Day at the beginning of 2021, we now will get a more detailed look at the New Chrysler EV brand as they plan to unveil the first of many EVs in the 96-year history of the iconic brand as Stellantis plans to build back better Chrysler. The airflow as shown on Jay Leno's garage dates from 1934 and is now ready for a revival of the name in the all-new electric vehicle. The plans for Chrysler at the 2022 CES show is as follows: Chrysler will introduce the Chrysler Airflow Concept and outline its future electrification strategy at CES 2022 in Las Vegas on January 5, 2022 CES 2022 will featu…
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William Maley Staff Writer - CheersandGears.com July 11, 2012 Earlier this week, we reported on a filing from the U.S. Patent and Trademark office about a possible branding for the new diesel engine in the 2014 Grand Cherokee. Apparently this wasn't the only filing Chrysler did. Car & Driver found a trademark application filled by the company to register “HFE High Fuel Efficiency”. The possible descriptor would most likely come on models that have small-displacement engines, and come with low rolling resistance tires and enhanced aerodynamics Currently, Chrysler uses the name of Aero to refer to its most fuel-efficient models. Only one model wears the Aero name a…
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William Maley Staff Writer - CheersandGears.com October 3, 2013 The SRT Viper has been one of the most anticipated vehicles of this year. But it seems that anticipation isn't bringing many buyers. Automotive News is reporting that Chrysler is cutting back on Viper production from nine to six per day, and will be reassigning a number of employees to different facilities. "We're really looking at the reality of this type of car in this economy, as well as us controlling the market and making sure that we don't overbuild," said SRT CEO Ralph Gilles. A good thing since there 565 Vipers sitting on dealer lots at the moment. Dealers have only sold 426 Vipers since going o…
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The Dodge Caravan is one of the vehicles that helped saved Chrysler Corporation in the 1980s. Introduced in November 1983, the Caravan, along with the Plymouth Voyager, was based on the K-Car platform championed by Lee Iaccoca. Chrysler recently re-introduced the Voyager under the Chrysler brand as the low cost entry into the minivan market. The Voyager is a low cost version of the Chrysler Pacifica Minivan that was introduced in 2016. Dodge continued production of the Grand Caravan as the low-cost model while the Pacifica aims for higher end customers. The Voyager, starting at $26,958, will come in three trims, L, LX, and LXi, the last one reserved for fleet buyer…
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William Maley Staff Writer - CheersandGears.com August 13, 2012 Chrysler hasn't been the strongest proponent of electric vehicles since it has been together with Fiat. "You're not looking at a guy who's as scared as the rest of them. I'm not scared, I just won't do it. I just will not do it. I think we're smoking illegal materials if we think we're going to make those [profitably]," said Fiat/Chrysler CEO Sergio Marchionne in a interview with Automobile Magazine back in July. This might be an odd thing to say since Fiat is working on a 500 EV that will go into production later this year. However, Marchionne has been on record saying the 500 EV will lose money and is …
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Two Chicago area dealership groups have filed a lawsuit against Fiat Chrysler Automobiles accusing the auto manufacturer of falsifying monthly sales figures in the U.S. FCA says the allegations are without merit. FCA has reported 69 monthly sales gains in the years since its bankruptcy in 2009. In the lawsuit, the one of dealerships claim that they were offered $20,000 to falsely report the sales of 40 new vehicles on the final day of a month. Those sales would then be backed out on the first day of the next month preventing the warranty clock on those vehicles from starting. The lawsuit further alleges that FCA rewards dealers who falsify the sales reports wi…
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Today in Auburn Hills, Fiat Chrysler Automobiles presented their five-year plan to the press and investors. The plan divulges what's in store for all of the brands in the coming years. The last time Chrysler did this back in 2009, many of the items shown were accurate (minus Alfa Romeo). We're going to fill you in on the plans in store for all of the brands and the company itself in the next few years. Jeep Leading off the presentations today was Jeep. Brand CEO Mike Manley described the off-road brand as the "lead global brand" of the company. The brand plans on expanding its lineup from five nameplates to six and sell them in more countries. Jeep hopes by 2018, 1.9 mi…
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General Motors isn't the only automaker that is dealing with problems with the ignition switch. The National Highway Traffic Safety Administration has announced it is investigating the Chrysler Town & Country, Dodge Grand Caravan, and Dodge Journey from the 2008 to 2010 model years due to ignition switch problems. NHTSA says they have been receiving complaints that the key can can shift from the “run” to the “accessory” mode while the vehicle is on the move. "While in this intermediate position, harsh roadway conditions or driver interaction with the ignition key can cause the switch to move to the ACC position which may disable the frontal air bags in a crash where…
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Details emerged Wednesday of the labor agreement between the United Auto Workers and Fiat Chrysler Automobiles. The overall contract is similar to the one agreed to by Ford last month. The four year contract includes: Signing bonus of $9,000 for full-time employees, $3,500 for temporary workers. Full-time workers can now reach the top pay bracket in four years rather than the current eight. FCA will create 7,900 jobs through 2023 which includes the 6,500 jobs already announced for a new plant in Detroit. $9 Billion in U.S. manufacturing investments. Dissolution of the jointly-run National Training Center, the focal point of a federal …
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William Maley Editor/Reporter - CheersandGears.com January 2, 2012 At next weeks Detroit Auto Show, Mopar will introduce two performance packages for the Dodge Charger and Chrysler 200. First up is the 2012 Dodge Charger Redline which will be offered in the three stages. Stage 1 brings forth many dress-up items, including a carbon fiber front splitter, a three-piece carbon fiber decklid spoiler, a black vinyl roof graphic, a two-piece grille insert that blends a body-colored surround with a black crosshair insert, faux door scoops, and 20-inch, five-spoke aluminum wheels. Inside, an aluminum instrument panel bezel with a red accent, a matching aluminum shifter bezel, …
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Fiat Chrysler Automobiles is making some major changes in how they report sales and has admitted that their 75-month streak was only 40 months and it ended in September 2013. The new sales reporting methodology announced by FCA in a statement will comprise of, Sales reported by dealers Fleet sales delivered directly by the company Retail 'other' sales, including those by dealers in Puerto Rico Using this new methodology, FCA went back and reviewed past monthly reports and found a 3 percent decrease in sales in September 2013 - a month that it had reported a 1 percent increase. Likewise, in August 2015, sales would have dropped 1 percent - not an increase of 2 …
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Fiat Chrysler Automobiles and Peugeot S.A. have signed a binding agreement to a 50/50 merger of their businesses. Once the merger is complete, the combined company will be the fourth largest automobile producer in the world. Based on 2018 numbers, the business will sell roughly 8.7 million vehicles annually and have revenues near €170 billion. There will be a strong balance sheet that will allow the new entity headroom to execute strategic plans. Geographically, 46% of revenue will come from Europe and 43% from North America. A number of operational efficiencies will be gained by the sharing of platforms and engine technology. The number of platforms will be reduced…
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According to a report in the Wall Street Journal, Fiat Chrysler Automobiles and PSA are in merger talks. This after the failed merger negotiations last spring between FCA and Renault. The merger is reportedly an all-share merger of equals with PSA CEO Carlos Tavares at the helm as CEO and FCA Chairman John Elkann retaining his position in the new company. The "talks are fluid" and the paper reported that "no guarantee that any final agreement will be reached". FCA had previously turned down a merger offer from PSA back in March. PSA is still digesting their acquisition of Opel from General Motors. View full article
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Last night was a tense time for Fiat Chrysler Automobiles as the clock was ticking to a 11:59 PM deadline before the contract extension for 40,000 UAW workers would end. But FCA and the UAW announced this morning they have reached another tentative agreement. The deal now heads to members to be voted on. “We heard from our members, and went back to FCA to strengthen their contract. We’ve reached a proposed tentative agreement that I believe addresses our members’ principal concerns about their jobs and their futures. We have made real gains and I look forward to a full discussion of the terms with our membership,” said UAW President Dennis Williams in a statement. …
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The United Auto Workers and Fiat Chrysler Automobiles have reached a tentative labor agreement for a four-year contract the union and FCA said today. While details were not provided, the main framework of the deal is expected to mirror that of the deals made with Ford Motor Company and General Motors. Those deals include signing bonuses of at least $9,000, no changes for healthcare, and a clearer way forward for temporary employees to become permanent status. On December 4th, a council of the heads of UAW locals will meet and review the agreement and must approve it prior to sending it to members to ratify. Some media reports say that negotiators secure…
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At the moment, Fiat's headquarters is located in Turin, Italy; while Chrysler's headquarters is in Auburn Hills, MI. But with Fiat and Chrysler merged together, the company is planning a new headquarters. Reuters reports that CEO Sergio Marchionne announced that the headquarters of FCA will be in London, Great Britain. "Headquarters will be in London. It's clear that group executive functions, the board, my office, some of my functions, need to operate out of London, but that doesn't mean that I'm giving up my operational responsibilities of the U.S. We will be multi-faceted ... we will do stuff everywhere," said Marchionne. Marchionne has said that the move will not n…
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We had a feeling this was coming. The Detroit News reports that Fiat Chrysler Automobiles will be cutting a shift at the Sterling Heights Assembly plant - home of the Chrysler 200 - and laying off 1,420 workers at the plant and a supporting stamping plant. In a statement, FCA explained the cut is “to better align production with demand,” and “a direct result of shifting demand toward trucks and SUVs.” “Our truck and SUV plants are running six days a week about 20 hours a day,” the company said. “And while 1,300 people will be impacted by layoffs (at Sterling Heights Assembly), we have been able to add 11,000 hourly jobs in Michigan since 2009 to keep up with that dema…
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Fiat-Chrysler announced a $4.5 billion investment today to build a new assembly plant in Detroit and add production at five existing facilities in Michigan. The move will increase capacity for Jeep, Ram, and Dodge Durango. $1.6 billion will go to the Mack Avenue Engine complex to convert the site into a manufacturing facility for the next-generation Jeep Grand Cherokee and an all-new three-row full-size Jeep SUV. This will create 3,850 new jobs. $900 million will go to Jefferson North for retooling and modernization for production of the Dodge Durango and next generation Jeep Grand Cherokee. This will create 1,100 jobs. The investment into Warren Truck in…
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he National Highway Traffic Safety Administration (NHTSA) and Fiat Chrysler Automobiles (FCA) have entered a consent agreement that will see FCA paying a record $105 million civil penalty after the Government investigated 23 different recalls into the company since 2009. “Today’s action holds Fiat Chrysler accountable for its past failures, pushes them to get unsafe vehicles repaired or off the roads and takes concrete steps to keep Americans safer going forward. This civil penalty puts manufacturers on notice that the department will act when they do not take their obligations to repair safety defects seriously,” said Transportation Secretary Anthony Foxx. As par…
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It was in late January when Fiat Chrysler Automobiles' CEO Sergio Marchionne announced that the Chrysler 200 and Dodge Dart would "run their course”. A diplomatic way of saying we wouldn't see a second-generation of either model. But Marchionne mentioned that both models could continue on if a partner was found. Motor Trend has learned that FCA is currently with potential partners, although who isn't mentioned. “There are discussions going on now. I think we will find a solution. We continue to talk. It’s both a technical solution and an economic one. We need to find a solution that works economically,” Marchionne said to Motor Trend on the floor of the Geneva Mot…
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At FCA, amid the backdrop of a proposed merger and its subsequent collapse, a lawsuit has been filed by Reid Bigland, head of the RAM brand and CEO of FCA Canada alleging that FCA has retaliated against Bigland for cooperating in a Federal prob of FCA's sales reporting process. Bigland joined Chrysler in 2006 and in turn took over the reigns of Alfa Romeo, Maserati, and Dodge, eventually serving as CEO of FCA Canada. The lawsuit filed Wednesday accuses FCA of retaliation for not taking the fall for the sales reporting prob. Bigland claims his compensation has fallen by more than 90% and that the sales reporting process under scrutiny was one that he inherited. …
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FCA is paying Tesla hundreds of millions of dollar to pool their vehicles with Tesla to avoid EU fines over emissions. Tesla put out an invitation to other automakers to use its fleet to lower their emissions totals and FCA took them up on it. Neither company released financial specifics of the deal, but it is estimated by the Financial Times to be worth hundreds of millions of dollars. Similar to California which allows manufactures with a surplus of ZEV credits to sell them to manufacturers who need them, the EU Commission allows manufacturers to pool together their fleets to avoid paying fines. Tesla makes significant money selling these credits in the US, earn…
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Today was Fiat Chrysler Automobiles' earnings report day and the results for the past year was a bit mixed. FCA reported a profit of 377 million euros (about $410 million) for 2015. This is a large decrease compared to the 632 million euros (about $689 million) profit for 2014. FCA attributes the decrease to investment costs and a large number of recalls on their vehicles. For the year, FCA said reported adjusted earnings increased 39 percent to 5.3 billion euros (about $5.75 billion) thanks to a strong performance in North America and a European market that is recovering. Total global deliveries for 2015 were 4.6 million vehicles. This is in line with 2014, but f…
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FCA has sent a merger proposal to Renault in what would start as an operational tie-up leading to a full merger. The proposal is a 50/50 deal that will not involve Nissan or Mitsubishi and it estimated to be worth around $33 billion. Few details have been revealed, however, Renault's board said it would issue a press release after the meeting. Rumor has it that Renault is negotiating with FCA without the approval from Nissan or Mitsubishi. If the merger does go through, it would happen over the next 12 months and the combined companies would rank 3rd in the world in terms of production, just behind Toyota and Volkswagen. One complication to the deal is the French go…
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The EPA has announced that FCA will be issuing a voluntary recall of 862,520 gasoline vehicles in the United States that do not meet emissions standards. The vehicles covered are the 2011-2016 Dodge Journey, 2011-2014 Chrysler 200 and Dodge Avenger, 2011-2016 Jeep Patriot and Compass (with CVT and FWD), and 2011-2012 Dodge Caliber. Due to the scope of the recall, the fixes will be issued in stages starting with the oldest vehicles. The fix involves replacing the catalytic converter. FCA has stated there are no safety concerns and no fines will be issued by the EPA. The issue was discovered during routing in-use emissions testing by FCA and subsequently reported…
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The rumors that PSA and FCA may merge can be put to bed now. Sources familiar with the discussion told the Wall Street Journal that executives from the respective companies are no longer in talks. FCA was reticent about the idea because it would increase the companies reliance on the struggling European market, and the Agnelli family, who has a controlling stake in FCA, was not interested in a deal that was paid for with PSA stock. PSA would need to use equity to pay for FCA because they are still digesting their acquisition of Opel from General Motors. Had they merged, the combined company would produce over 9 million vehicles per year, putting them on a playing …
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Next month, the National Highway Traffic Safety Administration (NHTSA) will be holding a public hearing to probe Fiat Chrysler Automobiles' handling of 20 different recalls covering 11 million vehicles since 2013. The agency is concerned about the completion rates and other issues on these recalls. But FCA believes this hearing should be skipped. In a 19-page response to questions from NHTSA that was released yesterday, the company argues that its overall recall completion rate is "nearly the best in the industry, with 77 percent. The response goes onto state that they are compliant with existing regulations and are in the process of implementing new programs to impro…
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The merger between FCA and Renault has crossed another hurdle overnight with FCA agreeing to a compromise with the French government. The issue surrounded the French government's desire for a guaranteed seat on the company's board of directors and effective veto power on CEO appointments. In a compromise, Renault would give up one of its own board seats for one occupied by a representative of the French government. The makeup of the board would then be 4 seats allocated to FCA appointees, three to Renault appointees, and one to the French government. France is Renault's largest shareholder with a 15% stake in the company. Additionally, Renault would give up one o…
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Fiat Chrysler Automobiles has been lagging behind other automakers in terms of electrification, tending to focus more on how many more vehicles they drop the Hellcat V8 into. But that appears to be changing. The Detroit Bureau had the chance to speak with FCA's new global powertrain chief, Micky Bly. He said that within the next twelve to eighteen months, FCA would try to reposition itself as one of the industry’s leaders in electrification. “We’re not leaders now,” said Bly, “but we will be soon.” Bly wouldn't go into detail as to how FCA plans to do this. But we already know that a number of FCA brands have plans for hybrid and electric vehicles - includi…
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The first day of 2014 brings some good news to Fiat. The company announced that it and the UAW's VEBA Trust have reached a deal to purchase the remaining 41.46 percent stake of Chrysler. The terms of deal will see Fiat paying the VEBA trust a total of $4.35 billion. $3.65 billion of that will go towards the remaining stake. Also, Fiat will pay the trust $700 million annually over the course of the next four years. “In the life of every major organization and its people, there are defining moments that go down in the history books. For Fiat and Chrysler, the agreement just reached with the VEBA is clearly one of those moments,” said Fiat-Chrysler CEO Sergio Marchionne. …
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Fiat Chrysler Automobiles and PSA Group have agreed to the terms of a merger just after it was announced they were talking just yesterday. PSA's board has already agreed to the deal and is awaiting approval from FCA's board which is meeting later tonight. The merger, if approved, would create the 4th largest automotive company in the world with nearly $50 billion in value. FCA Chairman John Elkann would retain his chairmanship of the new company while Peugeot CEO Carlos Tavares would stay on as CEO. The board would be comprised of six appointees from Peugeot while FCA would get five. Both companies would pay dividends to their shareholders, €3 billion fr…
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Not a pleasant day at Fiat Chrysler Automobiles as the company was handed a $70 Million fine by the National Highway Traffic Safety Administration for failing to report death and injury claims to regulators. Now this penalty comes from FCA admitting to NHTSA that it failed to provide Early Warning Report data to NHTSA over several years starting in 2003. Now this is required by the TREAD Act of 2000 where an automaker provides claims of death and injuries, warranty claims, consumer complaints and field reports of safety issues as a way to identify a possible defect. Automotive News reports that FCA has brought in a third-party to do an audit of its reporting failu…
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Fiat Chrysler Automobiles announced yesterday that it would be recalling 1,908,911 vehicles worldwide due to the airbags and seatbelt pre-tensioners possibly not deploying in the event of a crash. Approximately 1.4 million vehicles involved in the recall are in the U.S. In a statement released by FCA, the issue deals with a specific restraint control module and front impact sensor wiring. "The condition may occur when vehicles equipped with a particular occupant restraint control module and front impact sensor wiring of a specific design, are involved in certain collisions. If all these factors are present, there may be an increased potential for occupant injury.”…
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Fiat Chrysler Automobiles is facing an investigation by the U.S. Department of Justice and Securities and Exchange Commission over their sales reporting practices. Bloomberg learned about the investigation from two sources this morning and since then, FCA has confirmed it. This investigation stems from lawsuits filed earlier this year by dealers in Florida and Illinois saying the automaker inflated sales numbers by having them file false 'New Vehicle Delivery Reports'. At the time, FCA denied the charges made and is seeking dismissal of the suit. But as Automotive News notes, FCA added a disclaimer to their sales reports in April about how sales are reported. “FC…
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Fiat Chrysler Automobiles will produce no more passenger cars in the U.S. early next year. The Dodge Dart will end production in September, while production of the Chrysler 200 will cease in December. This is to make way for more production of SUVs and trucks - Jeep Cherokee at Belvidere, Illinois and Sterling Heights, MI for the next-gen Ram 1500. "By the time we finish with this, hopefully, all of our production assets in the United States — if you exclude Canada and Mexico from the fold — all those U.S. plants will be producing either Jeeps or Ram," said FCA CEO Sergio Marchionne during a call with analysts yesterday. Why would FCA end passenger car production …
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A day after Consumer Reports released their annual reliability survey which saw four Chrysler brands; Dodge, Fiat, Jeep, Ram finish at the bottom, Fiat Chrysler Automobiles' Quality Chief has stepped down. Doug Betts, FCA's 51-year-old head of quality has "left the company to pursue other interests,"according to a statement released yesterday. Betts joined Chrysler back in 2007, defecting from Nissan. Chrysler declined to comment on why Betts left when asked by Automotive News, but sources say Betts had the tendency to speak his mind. This irked FCA's CEO Sergio Marchionne a lot. Taking the place of of Betts is Matthew Lidane, who is the VP of systems and components. L…
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Fiat Chrysler posted a record $2.3 billion in operating profit in North America for third quarter 2019. Must of that was attributed to maintaining a firm hold on costs and customers opting for higher-trim level vehicles. Margin for the quarter in North America climbed to 10.6 percent, an all time high. Overall, North American revenue was flat at $21.3 billion and shipments down 11 percent. Globally, adjusted earnings rose 5 percent while revenue declined 1 percent. Global shipments were also down 9 percent. Even with all of that good news, one time charges added up to a $200 million loss, including $795 million for a settlement over the diesel scandal, and a …
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One of the biggest critics of hybrid vehicles happens to be Sergio Marchionne, CEO of Fiat Chrysler Automobiles. But even he realizes that with upcoming fuel economy regulations, hybrids will have to play a key role in achieving this. “The house will make it” to the 2025 model year fuel economy targets, Marchionne said to the press today. “Hybrids become a very large component of that fleet. You can’t get it without the hybrids. It’s impossible.” Last year, Chrysler was ranked last among large automakers in the U.S. for fuel economy. Marchionne said the company is on track to meet the long-term fuel economy requirements by using such items as diesels and nine-speed aut…
Last reply by A Horse With No Name, -
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William Maley Staff Writer - CheersandGears.com July 9, 2013 Yesterday, Fiat exercised its option to purchase another 3.3 percent of Chrysler shares from the UAW's VEBA retirement fund. This brings Fiat's current share of Chrysler to 68.49 percent. This is the third time that Fiat has purchased shares from VEBA. Last July and earlier this year, the Italian automaker purchased 3.3 percent of the VEBA shares. Fiat CEO Sergio Marchionne wants to buy up the remaining shares so Fiat can have full control of the company and hopefully help curb the large losses the Italian automaker is currently experiencing. That doesn't look like it will happen anytime soon. Currently, Fi…
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Today marks a big occasion for Chrysler as it becomes a part of Fiat fully. The Italian automaker announced today in a statement that they have completed the purchase of Chrysler and "is now a wholly-owned subsidiary of Fiat". This comes three weeks after an announcement made by Fiat which said they had come to an agreement with the UAW's VEBA Trust to purchase the remaining 41.46 percent of Chrysler. The agreement states that Fiat would pay $4.35 billion for the shares. The next step for Fiat and Chrysler will take place on January 29th. That is when the board is scheduled to meet and discuss terms of the merger, including including the corporate organization, location…
Last reply by G. David Felt, -
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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 …
Last reply by daves87rs, -
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By William Maley Staff Writer - CheersandGears.com May 30, 2013 According to Bloomberg, Fiat is reportedly seeking $10 Billion in financing to buy out the remaining 41.5% of Chrysler that is being held by the retiree trust of the United Auto Workers and refinance the two automakers' debt. Fiat has been in talks with a number of banks such as Bank of America Corp., Deutsche Bank AG, and Goldman Sachs Group Inc., to secure financing. Earlier reports said Fiat was seeking around $4 Billion, but that figure has risen considerably. This is most likely due to a court case in Deleware between Fiat and the UAW arguing the total price for the remaining shares. “The merger is …
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Today, Fiat SpA's board of directors announced Fiat SpA and Chrysler Group LLC will become Fiat Chrysler Automobiles (FCA). This comes as part of restructuring plan of the two automakers that was agreed by the board. “A new chapter of our story begins with the creation of Fiat Chrysler Automobiles. A journey that started over a decade ago, as Fiat sought to ensure its place in an increasingly complex marketplace, has brought together two organizations each with a great history in the automotive industry and different but complementary geographic strengths,” said John Elkann, chairman of Fiat. The restructuring plan also notes that FCA will be listed on the Milan and New…
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