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Found 31 results

  1. Sergio Marchionne is planning on stepping down as head of Fiat Chrysler Automobiles in 2018. But before he says good-bye, he wants to do one more big deal to help plug up holes in FCA and expand into other markets. Reuters reports that Marchionne has been putting out feelers for the past year to try and jumpstart consolidation in the industry to help share costs and bring out new technologies. But an alliance would help FCA as they have one the largest piles of debt in the industry, along with a number of other problems such as an over-reliance on a North American market and missing a good amount of the Asian marketplace. "The U.S. is where FCA is focusing now. Marchionne is doing a lot of work on his last deal and something will happen before 2018." said a source to Reuters. Several sources say Marchionne and the Agnelli family - the founders of Fiat - have their eyes on General Motors as they have a strong presence in both the U.S. and Asia. Also, GM wants to get back on the right track in Europe after the mess with PSA Peugeot Citroen went no where. But a source at a U.S. bank says GM isn't interested. This isn't the first time that FCA has put feelers out. Last year, there were reports of FCA speaking with both PSA Peugeot Citroen and Volkswagen. These reports were denied. Source: Reuters View full article
  2. The end is coming for Fiat Chrysler Automobile's CEO Sergio Marchionne. In a interview with Bloomberg, Marchionne says he will step down in 2018, the same time that his second five year plan will end. “I’ll undoubtedly do something else” after the end of 2018, said Marchionne. "I am not going to do any more turnarounds. I’m done; let some of the young punks do it.” Marchionne, 62, became the CEO of Fiat in 2004 and helped triple the automaker's revenue over the subsequent years. He was also a key person in the company's acquisition of Chrysler. There is no mention of who will be successor to Marchionne. But the current CEO does mention his role may be split among a number of executives. “There are a number of things that the next CEO will do which are totally different from what I do. The role as presently configured will have to be reconfigured.” Source: Bloomberg 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.
  3. The end is coming for Fiat Chrysler Automobile's CEO Sergio Marchionne. In a interview with Bloomberg, Marchionne says he will step down in 2018, the same time that his second five year plan will end. “I’ll undoubtedly do something else” after the end of 2018, said Marchionne. "I am not going to do any more turnarounds. I’m done; let some of the young punks do it.” Marchionne, 62, became the CEO of Fiat in 2004 and helped triple the automaker's revenue over the subsequent years. He was also a key person in the company's acquisition of Chrysler. There is no mention of who will be successor to Marchionne. But the current CEO does mention his role may be split among a number of executives. “There are a number of things that the next CEO will do which are totally different from what I do. The role as presently configured will have to be reconfigured.” Source: Bloomberg 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. View full article
  4. 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 Harald Hendrikse, a London-based analyst with Nomura Holdings. CEO Sergio Marchionne disagrees with analysts, saying that FCA’s advantage is that “we now have brands in the marketplace that are not butting heads.” Marchionne also pointed out that plan already eliminated two brands; Lancia and SRT. Marchionne also responded to comments that Chrysler and Dodge should be combined. “Co-mingling Dodge and Chrysler would have cost us a lot of share. That combination doesn’t work in our view,” Marchionne said. Source: Automotive News Europe (Subscription Required) 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.
  5. 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 Harald Hendrikse, a London-based analyst with Nomura Holdings. CEO Sergio Marchionne disagrees with analysts, saying that FCA’s advantage is that “we now have brands in the marketplace that are not butting heads.” Marchionne also pointed out that plan already eliminated two brands; Lancia and SRT. Marchionne also responded to comments that Chrysler and Dodge should be combined. “Co-mingling Dodge and Chrysler would have cost us a lot of share. That combination doesn’t work in our view,” Marchionne said. Source: Automotive News Europe (Subscription Required) 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. View full article
  6. Reuters reports that the Fiat CEO at a conference on Wednesday was being bluntly honest when he said do not buy the 500e. To quote the CEO; "We loose $14,000 on each 500e we sell." He went on to state that they would sell the minimum required to keep selling their auto's in the US and in states like California. He also went on to say that by 2025 3/4 of the auto's they sell will be Hybrids to meet the Governments mandated MPG fuel requirements. The full story was published here: http://www.reuters.com/article/2014/05/21/chrsyelr-ceo-evs-idUSL1N0O71MS20140521?feedType=RSS This story makes me ask the following question. If people keep saying that Electric Auto's are outselling the early days of Hybrids, then why are there not more electric auto's? We see a growing list of auto's with the option of CNG or Hybrid.

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