Jump to content

Fiat News: Federal Investigators Focus On Possible Code Phrase In FCA Sales Probe


William Maley

Recommended Posts

If you think the Fiat Chrysler Automobiles' sales probe couldn't take an unexpected turn, then you would be wrong. The Wall Street Journal reports that federal investigators are asking questions about a phrase that was used by various executives to dealers and regional sales managers.

According to sources, executives at FCA would use the phrase “unnatural acts department” during conference calls and one-on-one conversations. This phrase was to convey to dealers and regional sales managers to get more sales before the end of the month. Such solutions included selling vehicles at a loss or asking dealers to buy a number of vehicles that would be used for test-drives with customers. Investigators are trying to figure out if the phrase was used a way to rally the troops to meet sales targets or a key piece of evidence of whether or not FCA executives deceived the public by using this phrase to tell dealers to falsify sales numbers.

As we reported back in July, FCA is currently under investigation by the U.S. Department of Justice and Securities and Exchange Commission over their sales reporting practices. The investigation stems from dealers in Florida and Illinois suing the company for falsifying sales numbers. In the same month, FCA admitted the sales streak that supposedly lasted for 75 months only lasted for 40 months. The company also changed how it reported sales numbers.

Source: The Wall Street Journal


View full article

Link to comment
Share on other sites

I have come to terms with FCA's Sergio phoquing it up for Chryco.

But...at least we got a couple of years of fan-phoquing-tastic Mopars from that deal.

We got 2-3 years of Viper. We got Hellcats.

Remember, Chryco was finished. It would have been the end right then and there in 2009. Prolonging the agony is what it seems now though.

 

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

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

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.



  • Social Stream

  • Similar Content

    • By William Maley
      Future small cars from Fiat Chrysler Automobiles will not be using an updated version of their small car platform. Instead, they'll be underpinned by PSA Group's Common Modular Platform (CMP).
      Automotive News obtained a letter sent by FCA to suppliers in July stating "to immediately stop any research, development and tooling construction activities on future B-segment (small/subcompact) cars." These include the Fiat 500 and Jeep Renegade to give some context. The letter goes on to say it is moving to CMP and that vehicles based on this will be built at the company's Tychy, Poland plant - home to 500 and Lancia Yplilon production. 
      FCA had already put a stop, albeit a temporary one on developing parts for the five new small cars that were destined to use this platform due to COVID-19. There will be one model that will move forward on this orphaned platform - the upcoming 500 electric for Europe.
      As for CMP, this underpins the Peugeot 208 and 2008; Opel/Vauxhall Corsa, Mokka; and the DS3 Crossback. It allows for both combustion and electric powertrains.
      Moving to CMP is another step towards FCA and PSA Group's merger to become Stellantis. It is unclear whether or not the U.S. will see any of the new models that will use CMP from FCA's brands.
      Source: Automotive News (Subscription Required)

      View full article
    • By William Maley
      Future small cars from Fiat Chrysler Automobiles will not be using an updated version of their small car platform. Instead, they'll be underpinned by PSA Group's Common Modular Platform (CMP).
      Automotive News obtained a letter sent by FCA to suppliers in July stating "to immediately stop any research, development and tooling construction activities on future B-segment (small/subcompact) cars." These include the Fiat 500 and Jeep Renegade to give some context. The letter goes on to say it is moving to CMP and that vehicles based on this will be built at the company's Tychy, Poland plant - home to 500 and Lancia Yplilon production. 
      FCA had already put a stop, albeit a temporary one on developing parts for the five new small cars that were destined to use this platform due to COVID-19. There will be one model that will move forward on this orphaned platform - the upcoming 500 electric for Europe.
      As for CMP, this underpins the Peugeot 208 and 2008; Opel/Vauxhall Corsa, Mokka; and the DS3 Crossback. It allows for both combustion and electric powertrains.
      Moving to CMP is another step towards FCA and PSA Group's merger to become Stellantis. It is unclear whether or not the U.S. will see any of the new models that will use CMP from FCA's brands.
      Source: Automotive News (Subscription Required)
    • By William Maley
      We'll excuse you if you forgot that Fiat Chrysler Automobiles and PSA Group have been working towards finalizing their merger considering the state of the world at the moment. But the two are making serious headway as they have announced the new name of the multi-national corporation that will form once the two merge. Meet Stellantis.
      Don't worry, you're not the only who is thinking "What" or thinking of some clever joke to make fun of this name. We'll let the two explain what this name means?
      Yeah, if this doesn't like something from a branding agency, we don't what does.
      We should note here that Stellantis will only be used at a corporate level, not as a individual brand for vehicles.
      Source: FCA
      Press Release is on Page 2


      STELLANTIS: The Name of the New Group Resulting From the Merger of FCA and Groupe PSA
      July 15, 2020 , Vélizy-Villacoublay, France and London - In a major step as they move toward the completion of their 50:50 merger as defined in the Combination Agreement announced on December 18, 2019, Peugeot S.A. ("Groupe PSA") and Fiat Chrysler Automobiles N.V. ("FCA") (NYSE: FCAU / MTA: FCA) today announce that the corporate name of the new group will be STELLANTIS.
      STELLANTIS is rooted in the Latin verb “stello” meaning “to brighten with stars.” It draws inspiration from this new and ambitious alignment of storied automotive brands and strong company cultures that in coming together are creating one of the new leaders in the next era of mobility while at the same time preserving all the exceptional value and the values of its constituent parts. STELLANTIS will combine the scale of a truly global business with an exceptional breadth and depth of talent, knowhow and resource capable of providing the sustainable mobility solutions for the coming decades. The name’s Latin origins pay tribute to the rich history of its founding companies while the evocation of astronomy captures the true spirit of optimism, energy and renewal driving this industry-changing merger.
      The process of identifying the new name began soon after the Combination Agreement was announced and the senior management of both companies have been closely involved throughout, supported by Publicis Group.
      The STELLANTIS name will be used exclusively at the Group level, as a Corporate brand. The next step in the process will be the unveiling of a logo that with the name will become the corporate brand identity. The names and the logos of the STELLANTIS Group’s constituent brands will remain unchanged.
      As previously stated, completion of the merger project is expected to occur in the first quarter of 2021, subject to customary closing conditions, including approval by both companies’ shareholders at their respective Extraordinary General Meetings and the satisfaction of antitrust and other regulatory requirements.

      View full article
    • By William Maley
      We'll excuse you if you forgot that Fiat Chrysler Automobiles and PSA Group have been working towards finalizing their merger considering the state of the world at the moment. But the two are making serious headway as they have announced the new name of the multi-national corporation that will form once the two merge. Meet Stellantis.
      Don't worry, you're not the only who is thinking "What" or thinking of some clever joke to make fun of this name. We'll let the two explain what this name means?
      Yeah, if this doesn't like something from a branding agency, we don't what does.
      We should note here that Stellantis will only be used at a corporate level, not as a individual brand for vehicles.
      Source: FCA
      Press Release is on Page 2


      STELLANTIS: The Name of the New Group Resulting From the Merger of FCA and Groupe PSA
      July 15, 2020 , Vélizy-Villacoublay, France and London - In a major step as they move toward the completion of their 50:50 merger as defined in the Combination Agreement announced on December 18, 2019, Peugeot S.A. ("Groupe PSA") and Fiat Chrysler Automobiles N.V. ("FCA") (NYSE: FCAU / MTA: FCA) today announce that the corporate name of the new group will be STELLANTIS.
      STELLANTIS is rooted in the Latin verb “stello” meaning “to brighten with stars.” It draws inspiration from this new and ambitious alignment of storied automotive brands and strong company cultures that in coming together are creating one of the new leaders in the next era of mobility while at the same time preserving all the exceptional value and the values of its constituent parts. STELLANTIS will combine the scale of a truly global business with an exceptional breadth and depth of talent, knowhow and resource capable of providing the sustainable mobility solutions for the coming decades. The name’s Latin origins pay tribute to the rich history of its founding companies while the evocation of astronomy captures the true spirit of optimism, energy and renewal driving this industry-changing merger.
      The process of identifying the new name began soon after the Combination Agreement was announced and the senior management of both companies have been closely involved throughout, supported by Publicis Group.
      The STELLANTIS name will be used exclusively at the Group level, as a Corporate brand. The next step in the process will be the unveiling of a logo that with the name will become the corporate brand identity. The names and the logos of the STELLANTIS Group’s constituent brands will remain unchanged.
      As previously stated, completion of the merger project is expected to occur in the first quarter of 2021, subject to customary closing conditions, including approval by both companies’ shareholders at their respective Extraordinary General Meetings and the satisfaction of antitrust and other regulatory requirements.
    • By William Maley
      Automakers for the most part were hurting in sales during the second quarter. The COVID-19 pandemic and the economy coming to a screeching halt for a brief time caused new car sales to drop by a third according to Automotive News. But there is a slim silver lining to this, full-size pickups have moved into being the best-selling segment of vehicles.
      According to data from Automotive News, one out of four vehicles sold between April and June was a pickup truck. This helped put them ahead of compact crossovers, which have held the top spot for some time. The reason is that trucks didn't take as big of a hit due to 0 percent financing offers from automakers to help bring in buyers. A large number of dealers said they sold the majority of trucks sitting on their lots.
      Mark LaNeve, Ford's vice president of U.S. marketing, sales and service provides another reason why trucks didn't fall off a cliff. Speaking to AN, he said that people need trucks for work and "affluent consumers who often buy such vehicles have been less affected by the pandemic."
      Trucks still took quite the hit in the quarter,
      Chevrolet Silverado: Down 14% Ford F-Series: Down 23% GMC Sierra: Down 4% Ram: Down 35% Source: Automotive News (Subscription Required)

      View full article
  • Reader Rides

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets

facebook

×
×
  • Create New...