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  1. Fiat Chrysler Automobiles' Melfi plant is beginning to process of retooling to build a plug-in hybrid Jeep Renegade by 2020. The investment totaling 200 million Euros (about $229 million) will include modernizing the plant and training employees. FCA is planning to get pre-production models rolling off the line next year. Melfi is home to the Renegade and Fiat 500X production. FCA says the Renegade will become the third electrified vehicle in their lineup, following the Chrysler Pacifica PHEV and Ram 1500 eTorque mild hybrid. This is part of an effort to launch "12 electric propulsion systems (BEV, PHEV, full-hybrid and mild-hybrid)", adding that 30 different models would be equipped with one or more of these systems. No mechanical details were given on the plug-in hybrid system destined for the Renegade. Source: Fiat Chrysler Automobiles Melfi Plant prepares for production of new Jeep Renegade Plug-in Hybrid The FCA Melfi Plant in Italy is beginning preparations to produce the Jeep Renegade Plug-in Hybrid Electric Vehicle (PHEV) scheduled for market launch in early 2020. The Renegade PHEV will be produced alongside the Renegade and 500X full combustion engine products that are currently produced at the Melfi vehicle assembly plant. The pre-production units of the new Jeep Renegade PHEV are scheduled in 2019. The investment for the new engine launch equates to more than €200M and also includes a strong commitment by FCA for training all workers on the application of this new technology. The Plant facilities involved in the production will also be modernized accordingly. "With over 742,000 Renegades produced to date in Italy, the Melfi plant and the Renegade are the ideal location and the perfect product to launch the PHEV, further strengthening the offer of this highly successful Jeep", said Pietro Gorlier, Chief Operating Officer EMEA region. During the FCA Capital Markets Day on June 1, when the 2018-2022 business plan was presented to the financial community, it was stated that one of the most important change factors addressed in the strategic plan is electrification. Investments during the plan period result in a portfolio of technical solutions that will enable FCA to comply with the regulatory requirements in each sales region. At the same time, the technology will also be applied to enhance the specific strengths of each brand. The Renegade PHEV is the next step in FCA's roll-out of Electrification, following the launches of the PHEV Pacifica Minivan and the mild-hybrid e-Torque technology launched on the Ram 1500 truck earlier this year. By 2022, FCA will offer a total of 12 electric propulsion systems (BEV, PHEV, full-hybrid and mild-hybrid) in global architectures. Thirty different models will be equipped with one or more of these systems. London, 8 October 2018 View full article
  2. Fiat Chrysler Automobiles' Melfi plant is beginning to process of retooling to build a plug-in hybrid Jeep Renegade by 2020. The investment totaling 200 million Euros (about $229 million) will include modernizing the plant and training employees. FCA is planning to get pre-production models rolling off the line next year. Melfi is home to the Renegade and Fiat 500X production. FCA says the Renegade will become the third electrified vehicle in their lineup, following the Chrysler Pacifica PHEV and Ram 1500 eTorque mild hybrid. This is part of an effort to launch "12 electric propulsion systems (BEV, PHEV, full-hybrid and mild-hybrid)", adding that 30 different models would be equipped with one or more of these systems. No mechanical details were given on the plug-in hybrid system destined for the Renegade. Source: Fiat Chrysler Automobiles Melfi Plant prepares for production of new Jeep Renegade Plug-in Hybrid The FCA Melfi Plant in Italy is beginning preparations to produce the Jeep Renegade Plug-in Hybrid Electric Vehicle (PHEV) scheduled for market launch in early 2020. The Renegade PHEV will be produced alongside the Renegade and 500X full combustion engine products that are currently produced at the Melfi vehicle assembly plant. The pre-production units of the new Jeep Renegade PHEV are scheduled in 2019. The investment for the new engine launch equates to more than €200M and also includes a strong commitment by FCA for training all workers on the application of this new technology. The Plant facilities involved in the production will also be modernized accordingly. "With over 742,000 Renegades produced to date in Italy, the Melfi plant and the Renegade are the ideal location and the perfect product to launch the PHEV, further strengthening the offer of this highly successful Jeep", said Pietro Gorlier, Chief Operating Officer EMEA region. During the FCA Capital Markets Day on June 1, when the 2018-2022 business plan was presented to the financial community, it was stated that one of the most important change factors addressed in the strategic plan is electrification. Investments during the plan period result in a portfolio of technical solutions that will enable FCA to comply with the regulatory requirements in each sales region. At the same time, the technology will also be applied to enhance the specific strengths of each brand. The Renegade PHEV is the next step in FCA's roll-out of Electrification, following the launches of the PHEV Pacifica Minivan and the mild-hybrid e-Torque technology launched on the Ram 1500 truck earlier this year. By 2022, FCA will offer a total of 12 electric propulsion systems (BEV, PHEV, full-hybrid and mild-hybrid) in global architectures. Thirty different models will be equipped with one or more of these systems. London, 8 October 2018
  3. Earlier this month, Fiat Chrysler Automobiles filed a complaint with the U.S. International Trade Commission over the Mahindra Roxor - a side-by-side off-road utility. FCA alleges that the certain design elements of the Roxor infringe on the " intellectual property rights of FCA's Jeep design," and is wanting to stop the sale of the model in the U.S. Mahindra is fighting back. Reuters reports that the company has filed a public interest statement with the U.S. ITC and started proceedings in a Michigan court for an injunction into FCA's complaint. We are asking the court to block Fiat from participating in the ITC [International Trade Commission] claim -- an injunction -- because of the fact that they agreed in 2009 to never bring such claims if we use a grille that they approved. The Roxor uses that grille," Mahindra said in a statement. (Emphasis mine). "We are also arguing that Fiat is using the ITC case to harm our ROXOR business by creating negative publicity, damaging our reputation and our stature in the marketplace.” FCA in its complaint said that Roxor imports will hurt them as the model are underselling the Jeep Wrangler. A lot of this comes down to the Roxor being manufactured in India, and then shipping the model as a knock-down kit to their Detroit-area assembly plant for final assembly. Mahindra disputes this, saying the Roxor doesn't compete with the Wrangler as it's a side-by-side off-road utility. " We also demonstrated that the ROXOR is a vehicle that was always intended only as an off-road vehicle, does not compete with Fiat vehicles, is manufactured and assembled in the first OEM plant to be built in Michigan, USA, in the last 25 years, was the result of more than three years of research and development, and categorically rejected the notion that the ROXOR was an imported low quality “knock-off” kit car," the company said. Source: Reuters via Automotive News (Subscription Required), Mahindra Mumbai, August 29, 2018 – “A complaint was filed by FCA US, LLC (“Fiat”) with the United States International Trade Commission (“ITC”) against Mahindra which we believe is without merit. In response, we have taken a number of actions both within the ITC and in Federal District Court that we would like to share with you. Mahindra filed a Public Interest Statement with the ITC on August 22, 2018. This Statement expresses our position on this matter and explains how it is in the public interest for the ITC to rule against Fiat and in favor of Mahindra. Our goals on the public interest statement were two-fold. One was to state our position on the merits and the other was to correct inaccuracies regarding Mahindra as a company and the ROXOR as a product. We set the record straight on the history of Mahindra, including its U.S. operations. We also demonstrated that the ROXOR is a vehicle that was always intended only as an off-road vehicle, does not compete with Fiat vehicles, is manufactured and assembled in the first OEM plant to be built in Michigan, USA, in the last 25 years, was the result of more than three years of research and development, and categorically rejected the notion that the ROXOR was an imported low quality “knock-off” kit car. On August 23, 2018, Mahindra filed a complaint in Federal Court in Michigan on the issue of the applicability and enforcement of our 2009 agreement with Fiat. We are asking the court to block Fiat from participating in the ITC claim – an injunction – because of the fact that they agreed in 2009 to never bring such claims if we use a grille that they approved. The ROXOR uses that grille. We are also arguing that Fiat is using the ITC case to harm our ROXOR business by creating negative publicity, damaging our reputation and our stature in the marketplace.” View full article
  4. Earlier this month, Fiat Chrysler Automobiles filed a complaint with the U.S. International Trade Commission over the Mahindra Roxor - a side-by-side off-road utility. FCA alleges that the certain design elements of the Roxor infringe on the " intellectual property rights of FCA's Jeep design," and is wanting to stop the sale of the model in the U.S. Mahindra is fighting back. Reuters reports that the company has filed a public interest statement with the U.S. ITC and started proceedings in a Michigan court for an injunction into FCA's complaint. We are asking the court to block Fiat from participating in the ITC [International Trade Commission] claim -- an injunction -- because of the fact that they agreed in 2009 to never bring such claims if we use a grille that they approved. The Roxor uses that grille," Mahindra said in a statement. (Emphasis mine). "We are also arguing that Fiat is using the ITC case to harm our ROXOR business by creating negative publicity, damaging our reputation and our stature in the marketplace.” FCA in its complaint said that Roxor imports will hurt them as the model are underselling the Jeep Wrangler. A lot of this comes down to the Roxor being manufactured in India, and then shipping the model as a knock-down kit to their Detroit-area assembly plant for final assembly. Mahindra disputes this, saying the Roxor doesn't compete with the Wrangler as it's a side-by-side off-road utility. " We also demonstrated that the ROXOR is a vehicle that was always intended only as an off-road vehicle, does not compete with Fiat vehicles, is manufactured and assembled in the first OEM plant to be built in Michigan, USA, in the last 25 years, was the result of more than three years of research and development, and categorically rejected the notion that the ROXOR was an imported low quality “knock-off” kit car," the company said. Source: Reuters via Automotive News (Subscription Required), Mahindra Mumbai, August 29, 2018 – “A complaint was filed by FCA US, LLC (“Fiat”) with the United States International Trade Commission (“ITC”) against Mahindra which we believe is without merit. In response, we have taken a number of actions both within the ITC and in Federal District Court that we would like to share with you. Mahindra filed a Public Interest Statement with the ITC on August 22, 2018. This Statement expresses our position on this matter and explains how it is in the public interest for the ITC to rule against Fiat and in favor of Mahindra. Our goals on the public interest statement were two-fold. One was to state our position on the merits and the other was to correct inaccuracies regarding Mahindra as a company and the ROXOR as a product. We set the record straight on the history of Mahindra, including its U.S. operations. We also demonstrated that the ROXOR is a vehicle that was always intended only as an off-road vehicle, does not compete with Fiat vehicles, is manufactured and assembled in the first OEM plant to be built in Michigan, USA, in the last 25 years, was the result of more than three years of research and development, and categorically rejected the notion that the ROXOR was an imported low quality “knock-off” kit car. On August 23, 2018, Mahindra filed a complaint in Federal Court in Michigan on the issue of the applicability and enforcement of our 2009 agreement with Fiat. We are asking the court to block Fiat from participating in the ITC claim – an injunction – because of the fact that they agreed in 2009 to never bring such claims if we use a grille that they approved. The ROXOR uses that grille. We are also arguing that Fiat is using the ITC case to harm our ROXOR business by creating negative publicity, damaging our reputation and our stature in the marketplace.”
  5. William Maley

    Fiat News: FCA's European Business Problem

    Fiat Chrysler Automobiles' new CEO Mike Manley has a lot on his plate. He has address multiple challenges in the U.S. that were left by the passing of Sergio Marchionne last month - moving forward with the five year plan, figuring out the future of Chrysler and Dodge; and getting new vehicles out the door. But that doesn't compare to the challenges in Europe. The Wall Street Journal reports that Manley has a number of issues that need be addressed. The biggest one is improving the overall profitability in the region. Last year, FCA had an operating profit of $5.96 billion in the U.S. In Europe, only $840 million. A key reason for this is that three-quarters of FCA's European sales are made up of Fiat models that have razor-thin profit margins. Each Fiat sold makes an operating profit of €250 ($288), compared to the average of €2,850 ($3,274) for every Jeep and Ram model sold. Alfa Romeo was seen as a possible way to help boost profits, but sales have fallen very short of targets in a market where the likes of the Audi, BMW, Lexus, and Mercedes-Benz dominate. “FCA would need a merger to improve the profitability in Europe,” said Martino De Ambroggi, an analyst with Equita told the journal. Marchionne tried his best to court FCA to other automakers such as GM, but to no avail. Earlier this year, FCA said the search for a possible partner was taken off the table and that it could survive on its own. There is also the question as to whether FCA has too many workers in Europe. The region makes up about 36 percent of FCA's workforce, but only a tenth of its profit. A key example is FCA's Mirafiori plant which employs 13,000 people, but is on track to build 50,000 vehicles this year. In 1997, the plant produced 463,000 vehicles. Source: Wall Street Journal (Subscription Required) View full article
  6. William Maley

    FCA's European Business Problem

    Fiat Chrysler Automobiles' new CEO Mike Manley has a lot on his plate. He has address multiple challenges in the U.S. that were left by the passing of Sergio Marchionne last month - moving forward with the five year plan, figuring out the future of Chrysler and Dodge; and getting new vehicles out the door. But that doesn't compare to the challenges in Europe. The Wall Street Journal reports that Manley has a number of issues that need be addressed. The biggest one is improving the overall profitability in the region. Last year, FCA had an operating profit of $5.96 billion in the U.S. In Europe, only $840 million. A key reason for this is that three-quarters of FCA's European sales are made up of Fiat models that have razor-thin profit margins. Each Fiat sold makes an operating profit of €250 ($288), compared to the average of €2,850 ($3,274) for every Jeep and Ram model sold. Alfa Romeo was seen as a possible way to help boost profits, but sales have fallen very short of targets in a market where the likes of the Audi, BMW, Lexus, and Mercedes-Benz dominate. “FCA would need a merger to improve the profitability in Europe,” said Martino De Ambroggi, an analyst with Equita told the journal. Marchionne tried his best to court FCA to other automakers such as GM, but to no avail. Earlier this year, FCA said the search for a possible partner was taken off the table and that it could survive on its own. There is also the question as to whether FCA has too many workers in Europe. The region makes up about 36 percent of FCA's workforce, but only a tenth of its profit. A key example is FCA's Mirafiori plant which employs 13,000 people, but is on track to build 50,000 vehicles this year. In 1997, the plant produced 463,000 vehicles. Source: Wall Street Journal (Subscription Required)
  7. Fiat Chrysler Automobiles is none too pleased with the Indian automaker Mahindra & Mahindra Ltd as they're planning to sell an off-road vehicle that looks very much like the original Willys Jeep. Bloomberg obtained a complaint filed by FCA to the U.S. International Trade Commission on August 1st. The document claims that Mahindra's Roxor infringes key characteristics of Jeep's signature design - namely the “boxy body shape with flat-appearing vertical sides and rear body ending at about the same height as the hood.” “They are a nearly identical copy of the iconic Jeep design. In fact, the accused product was ‘modeled after the original Willys Jeep." The Roxor is a small, two-seat off-road vehicle. There is a lot of resemblance to original Jeep design and there is a reason for that. Beginning in 1947, Mahindra got a license to build the Willys CJ3 for the Asian market. They would do so until 2010. At this point, Mahindra introduced an updated model known as the Thar that meets India's road going passenger vehicle standards and looks like a 1990's Wrangler. Now the Roxor isn't being sold as road-legal vehicle. Instead, Mahindra is selling this as a side-by-side off-road utility. That means its not road legal. Which brings us to the next key part of FCA's complaint. The company is arguing that Roxor imports "threaten it with substantial injury as they are underselling Jeeps." This is due to Mahindra manufacturing the parts and creating a knock-down kit, which is then shipped to a plant in the Detroit area for final assembly. We're not sure about this partly due to the arena the Roxor competes in, but also the price. The model begins at just under $15,500. Comparable models from Polaris and Honda begin at under $10,000. While Mahindra has had some success in the U.S. with tractors, they haven't had the same when it comes to automobiles. Previously, the company was planning to offer a diesel pickup through a distributor. But plans were scrapped and Mahindra would find itself in a lengthy court battle. The Roxor is the next attempt at possible entry for Mahindra to enter the automotive market. They have spent almost a quarter-billion dollars for a new assembly plant where they currently employ around 300 people. Last November, the company announced a $600 investment and plans to employ as many as 670 workers by 2020. Source: Bloomberg
  8. Fiat Chrysler Automobiles is none too pleased with the Indian automaker Mahindra & Mahindra Ltd as they're planning to sell an off-road vehicle that looks very much like the original Willys Jeep. Bloomberg obtained a complaint filed by FCA to the U.S. International Trade Commission on August 1st. The document claims that Mahindra's Roxor infringes key characteristics of Jeep's signature design - namely the “boxy body shape with flat-appearing vertical sides and rear body ending at about the same height as the hood.” “They are a nearly identical copy of the iconic Jeep design. In fact, the accused product was ‘modeled after the original Willys Jeep." The Roxor is a small, two-seat off-road vehicle. There is a lot of resemblance to original Jeep design and there is a reason for that. Beginning in 1947, Mahindra got a license to build the Willys CJ3 for the Asian market. They would do so until 2010. At this point, Mahindra introduced an updated model known as the Thar that meets India's road going passenger vehicle standards and looks like a 1990's Wrangler. Now the Roxor isn't being sold as road-legal vehicle. Instead, Mahindra is selling this as a side-by-side off-road utility. That means its not road legal. Which brings us to the next key part of FCA's complaint. The company is arguing that Roxor imports "threaten it with substantial injury as they are underselling Jeeps." This is due to Mahindra manufacturing the parts and creating a knock-down kit, which is then shipped to a plant in the Detroit area for final assembly. We're not sure about this partly due to the arena the Roxor competes in, but also the price. The model begins at just under $15,500. Comparable models from Polaris and Honda begin at under $10,000. While Mahindra has had some success in the U.S. with tractors, they haven't had the same when it comes to automobiles. Previously, the company was planning to offer a diesel pickup through a distributor. But plans were scrapped and Mahindra would find itself in a lengthy court battle. The Roxor is the next attempt at possible entry for Mahindra to enter the automotive market. They have spent almost a quarter-billion dollars for a new assembly plant where they currently employ around 300 people. Last November, the company announced a $600 investment and plans to employ as many as 670 workers by 2020. Source: Bloomberg View full article
  9. William Maley

    Fiat News: Sergio Marchionne: 1952-2018

    Sergio Marchionne, the former head of Fiat Chrysler Automobiles who is credited for saving Chrysler and Fiat has passed away today at age 66 due to complications from shoulder surgery. “Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone,” said FCA Chairman John Elkann in a statement this morning. Marchionne came into the spotlight back in 2004 when he was named CEO of Fiat. He was Fiat's fifth CEO in less than two years and had a big task ahead of him. The Italian automaker was struggling as it had lost more than 6 billion Euros (about $7 billion) the year before. Marchionne was somehow able to pull Fiat from the brink by closing various plants, laying off thousand of workers, getting a $2 billion payment from General Motors to settle past contractual obligation, and expanding the company's car lineup. It worked as Fiat would become profitable a year later. In 2009, Marchionne led Fiat to acquire a 20 percent stake into beleaguered Chrysler following the 2008 financial crisis. Only a few years later, Fiat would buy up the rest of Chrysler and become Fiat Chrysler Automobiles. He would oversee the reinvention of Alfa Romeo, expand Jeep into other markets, and spin off Ferrari into its own separate company. Other parts of FCA haven't quite worked out, most notably Chrysler and Dodge which has seen both of their lineups shrink. Marchionne was not like your normal CEO. He was known for wearing black pullover sweaters and jeans which made him stand out at various events. Marchionne was also known for being direct and speaking his mind (for better or worse). Next April, Marchionne was planning to step down as CEO and announce his replacement. But health complications over the weekend caused FCA to decide his successor. That person would be Mike Manley, head of Jeep and Ram Trucks. Source: Automotive News (Subscription Required), Bloomberg, Fiat Chrysler Automobiles View full article
  10. Mike Manley has been chosen as the replacement for the seriously ill Sergio Marchionne as Fiat Chrysler Automobiles CEO today. A source tells Automotive News Europe that the decision was made during an emergency meeting of FCA's board of directors today. "With reference to the health of Sergio Marchionne, Fiat Chrysler Automobiles N.V. (“FCA”) (NYSE: FCAU / MTA: FCA) communicates with profound sorrow that during the course of this week unexpected complications arose while Mr. Marchionne was recovering from surgery and that these have worsened significantly in recent hours," FCA said in a statement released a few moments ago. "As a consequence, Mr. Marchionne will be unable to return to work." As we reported earlier this morning, Marchionne has been dealing “massive” and serious complications after surgery to his shoulder. Marchionne was planning to announce his successor next April during the company's announcement of 2018 financial results. Manley joined DiamlerChrysler in 2000 as the director of network development for the UK branch. He would hold various positions at DiamlerChrysler and Chrysler before being named CEO of Jeep in 2009. Under his leadership, Jeep has expanded into other markets and sales have quadrupled. He would also be named CEO of Ram Trucks in 2015. Manley prevailed over two other FCA veterans: CFO Richard Palmer and COO of Europe, Middle East and Africa regions, Alfredo Altavilla. Source: Automotive News Europe (Subscription Required), Fiat Chrysler Automobiles FCA Announcement July 21, 2018 , London - With reference to the health of Sergio Marchionne, Fiat Chrysler Automobiles N.V. (“FCA”) (NYSE: FCAU / MTA: FCA) communicates with profound sorrow that during the course of this week unexpected complications arose while Mr. Marchionne was recovering from surgery and that these have worsened significantly in recent hours. As a consequence, Mr. Marchionne will be unable to return to work. The Board of Directors of FCA, meeting today, firstly expressed its closeness to Sergio Marchionne and his family and underlined the extraordinary contribution, both human and professional, that he has made to the Company in these years. The Board resolved to accelerate the CEO transition process that has been proceeding over the past months and named Mike Manley as CEO. The Board will therefore propose to the next Shareholder Meeting, to be called in the coming days, that he be elected to the Board and serve as an executive director of the Company. In the meantime, in order to provide for his full authority and operational continuity for the company, the Board has with immediate effect granted Mr. Manley all the powers of CEO. He will also assume responsibility for the NAFTA region. Mr. Manley and his management team will proceed with the implementation of the 2018 – 2022 Business Plan as presented on June 1 of this year, a plan that will further assure FCA’s strong and independent future. View full article
  11. William Maley

    Sergio Marchionne: 1952-2018

    Sergio Marchionne, the former head of Fiat Chrysler Automobiles who is credited for saving Chrysler and Fiat has passed away today at age 66 due to complications from shoulder surgery. “Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone,” said FCA Chairman John Elkann in a statement this morning. Marchionne came into the spotlight back in 2004 when he was named CEO of Fiat. He was Fiat's fifth CEO in less than two years and had a big task ahead of him. The Italian automaker was struggling as it had lost more than 6 billion Euros (about $7 billion) the year before. Marchionne was somehow able to pull Fiat from the brink by closing various plants, laying off thousand of workers, getting a $2 billion payment from General Motors to settle past contractual obligation, and expanding the company's car lineup. It worked as Fiat would become profitable a year later. In 2009, Marchionne led Fiat to acquire a 20 percent stake into beleaguered Chrysler following the 2008 financial crisis. Only a few years later, Fiat would buy up the rest of Chrysler and become Fiat Chrysler Automobiles. He would oversee the reinvention of Alfa Romeo, expand Jeep into other markets, and spin off Ferrari into its own separate company. Other parts of FCA haven't quite worked out, most notably Chrysler and Dodge which has seen both of their lineups shrink. Marchionne was not like your normal CEO. He was known for wearing black pullover sweaters and jeans which made him stand out at various events. Marchionne was also known for being direct and speaking his mind (for better or worse). Next April, Marchionne was planning to step down as CEO and announce his replacement. But health complications over the weekend caused FCA to decide his successor. That person would be Mike Manley, head of Jeep and Ram Trucks. Source: Automotive News (Subscription Required), Bloomberg, Fiat Chrysler Automobiles
  12. Mike Manley has been chosen as the replacement for the seriously ill Sergio Marchionne as Fiat Chrysler Automobiles CEO today. A source tells Automotive News Europe that the decision was made during an emergency meeting of FCA's board of directors today. "With reference to the health of Sergio Marchionne, Fiat Chrysler Automobiles N.V. (“FCA”) (NYSE: FCAU / MTA: FCA) communicates with profound sorrow that during the course of this week unexpected complications arose while Mr. Marchionne was recovering from surgery and that these have worsened significantly in recent hours," FCA said in a statement released a few moments ago. "As a consequence, Mr. Marchionne will be unable to return to work." As we reported earlier this morning, Marchionne has been dealing “massive” and serious complications after surgery to his shoulder. Marchionne was planning to announce his successor next April during the company's announcement of 2018 financial results. Manley joined DiamlerChrysler in 2000 as the director of network development for the UK branch. He would hold various positions at DiamlerChrysler and Chrysler before being named CEO of Jeep in 2009. Under his leadership, Jeep has expanded into other markets and sales have quadrupled. He would also be named CEO of Ram Trucks in 2015. Manley prevailed over two other FCA veterans: CFO Richard Palmer and COO of Europe, Middle East and Africa regions, Alfredo Altavilla. Source: Automotive News Europe (Subscription Required), Fiat Chrysler Automobiles FCA Announcement July 21, 2018 , London - With reference to the health of Sergio Marchionne, Fiat Chrysler Automobiles N.V. (“FCA”) (NYSE: FCAU / MTA: FCA) communicates with profound sorrow that during the course of this week unexpected complications arose while Mr. Marchionne was recovering from surgery and that these have worsened significantly in recent hours. As a consequence, Mr. Marchionne will be unable to return to work. The Board of Directors of FCA, meeting today, firstly expressed its closeness to Sergio Marchionne and his family and underlined the extraordinary contribution, both human and professional, that he has made to the Company in these years. The Board resolved to accelerate the CEO transition process that has been proceeding over the past months and named Mike Manley as CEO. The Board will therefore propose to the next Shareholder Meeting, to be called in the coming days, that he be elected to the Board and serve as an executive director of the Company. In the meantime, in order to provide for his full authority and operational continuity for the company, the Board has with immediate effect granted Mr. Manley all the powers of CEO. He will also assume responsibility for the NAFTA region. Mr. Manley and his management team will proceed with the implementation of the 2018 – 2022 Business Plan as presented on June 1 of this year, a plan that will further assure FCA’s strong and independent future.
  13. Rumors of a possible buyer for Fiat Chrysler Automobiles have popped up again. Late last week, the Asia Times learned from sources that Hyundai Motor Group CEO Chung Mong-koo is waiting for "an expected decline" in shares of FCA before launching a takeover bid attempt. This is expected to launch sometime between the summer and "prior to the Fiat-Chrysler annual shareholders’ meeting in May 2019." Reportedly, FCA CEO Sergio Marchionne drew Hyundai's attention by using interest from Great Wall Motor. The deal is being spurred by Paul Singer, the principal of Elliott Management. Singer made headlines in April by pressuring Hyundai to merge with Mobius, their parts' division to create a new holding company and demanded the company to pay investors more than $10 billion in “excess cash.” Marchionne has been trying his damnedest to try and find a merger partner for the past few years. Tried to work with General Motors CEO Mary Barra about possibly merging the two companies in 2015, but was turned down. Rumors about possibly merging with Volkswagen, but was told no. Various Chinese automakers considered bidding on FCA, but most deny it. Great Wall was considering only purchasing Jeep. However, plans for this were put on ice Here is the question we find ourselves wondering about, why would Hyundai consider buying FCA? Aside from getting their hands on Jeep and Ram Trucks (FCA's money makers), FCA would be gaining the most from this possible deal. To throw another wrench into this, Hyundai is currently in the midsts of a reorganization effort and part of that includes possibly replacing Mong-koo who is 80 years old. Both FCA and Hyundai declined to comment. Source: Asia Times Thanks @regfootball for the news tip View full article
  14. Rumors of a possible buyer for Fiat Chrysler Automobiles have popped up again. Late last week, the Asia Times learned from sources that Hyundai Motor Group CEO Chung Mong-koo is waiting for "an expected decline" in shares of FCA before launching a takeover bid attempt. This is expected to launch sometime between the summer and "prior to the Fiat-Chrysler annual shareholders’ meeting in May 2019." Reportedly, FCA CEO Sergio Marchionne drew Hyundai's attention by using interest from Great Wall Motor. The deal is being spurred by Paul Singer, the principal of Elliott Management. Singer made headlines in April by pressuring Hyundai to merge with Mobius, their parts' division to create a new holding company and demanded the company to pay investors more than $10 billion in “excess cash.” Marchionne has been trying his damnedest to try and find a merger partner for the past few years. Tried to work with General Motors CEO Mary Barra about possibly merging the two companies in 2015, but was turned down. Rumors about possibly merging with Volkswagen, but was told no. Various Chinese automakers considered bidding on FCA, but most deny it. Great Wall was considering only purchasing Jeep. However, plans for this were put on ice Here is the question we find ourselves wondering about, why would Hyundai consider buying FCA? Aside from getting their hands on Jeep and Ram Trucks (FCA's money makers), FCA would be gaining the most from this possible deal. To throw another wrench into this, Hyundai is currently in the midsts of a reorganization effort and part of that includes possibly replacing Mong-koo who is 80 years old. Both FCA and Hyundai declined to comment. Source: Asia Times Thanks @regfootball for the news tip
  15. Since 2014, Fiat Chrysler Automobiles CEO Sergio Marchionne proclaimed that Jeep needed a three-row luxury SUV to better compete with the likes of the Cadillac Escalade and Lincoln Navigator. But this SUV, known as the Grand Wagoneer hasn't materialized. Numerous delays and debates about the design has caused the launch to be pushed time and time again. These delays have a number of dealers concerned that Jeep may miss its opportunity with this new model. "I think our window of opportunity is closing. We could have killed with [the Grand Wagoneer] if it had been available when they first told us about it, but it's a much tougher sell with interest rates and gas prices going up," said an unnamed FCA dealer to Automotive News. John Murphy, research analyst at Bank of America Merrill Lynch said last week at a meeting of the Automotive Press Association that the "Goldilocks" era in auto retailing was coming to a close. Murphy said the next five years would be tough on auto sales due to a number of factors, especially for those trying to sell high-end models. Higher interest rates Increasing gas prices Raw materials becoming more expensive Increasing competition in the light-truck sector The current plan is to launch the Grand Wagoneer in 2019, but production could be pushed back till late in the year or even into 2020. This is due to FCA's plan to keep building the current Ram 1500 at their Warren Truck Plant until the end of year. But depending on demand, this could extend production into 2019, pushing back the time needed to retool the plant for the Grand Wagoneer. Source: Automotive News (Subscription Required) View full article
  16. Since 2014, Fiat Chrysler Automobiles CEO Sergio Marchionne proclaimed that Jeep needed a three-row luxury SUV to better compete with the likes of the Cadillac Escalade and Lincoln Navigator. But this SUV, known as the Grand Wagoneer hasn't materialized. Numerous delays and debates about the design has caused the launch to be pushed time and time again. These delays have a number of dealers concerned that Jeep may miss its opportunity with this new model. "I think our window of opportunity is closing. We could have killed with [the Grand Wagoneer] if it had been available when they first told us about it, but it's a much tougher sell with interest rates and gas prices going up," said an unnamed FCA dealer to Automotive News. John Murphy, research analyst at Bank of America Merrill Lynch said last week at a meeting of the Automotive Press Association that the "Goldilocks" era in auto retailing was coming to a close. Murphy said the next five years would be tough on auto sales due to a number of factors, especially for those trying to sell high-end models. Higher interest rates Increasing gas prices Raw materials becoming more expensive Increasing competition in the light-truck sector The current plan is to launch the Grand Wagoneer in 2019, but production could be pushed back till late in the year or even into 2020. This is due to FCA's plan to keep building the current Ram 1500 at their Warren Truck Plant until the end of year. But depending on demand, this could extend production into 2019, pushing back the time needed to retool the plant for the Grand Wagoneer. Source: Automotive News (Subscription Required)
  17. Tomorrow will be Fiat Chrysler Automobile's final five year plan being presented under current CEO Sergio Marchionne. We reported on what is expected to be talked about yesterday in the rumor pile. Today, we have gotten a clear picture of what will be presented in the plan. Automotive News found the schedule for the five-year presentation on a company website before being taken down. The schedule features sections for Jeep, Ram, Maserati, Alfa Romeo, Autonomous Driving and Connectivity, and CO2 reduction. Not listed on the schedule were Chrysler, Dodge, and Fiat. This unsurprisingly sent a number of people into a tizzy as they see this as a possible hint that these brands are going bye-bye. An FCA spokeswoman said Chrysler and Dodge will be talked about in other presentations "as appropriate." We're not sure this inspires confidence. Source: Automotive News (Subscription Required)
  18. Tomorrow will be Fiat Chrysler Automobile's final five year plan being presented under current CEO Sergio Marchionne. We reported on what is expected to be talked about yesterday in the rumor pile. Today, we have gotten a clear picture of what will be presented in the plan. Automotive News found the schedule for the five-year presentation on a company website before being taken down. The schedule features sections for Jeep, Ram, Maserati, Alfa Romeo, Autonomous Driving and Connectivity, and CO2 reduction. Not listed on the schedule were Chrysler, Dodge, and Fiat. This unsurprisingly sent a number of people into a tizzy as they see this as a possible hint that these brands are going bye-bye. An FCA spokeswoman said Chrysler and Dodge will be talked about in other presentations "as appropriate." We're not sure this inspires confidence. Source: Automotive News (Subscription Required) View full article
  19. William Maley

    FCA's Latest Five-Year Plan: What You Need to Know

    Fiat Chrysler Automobiles announced their latest five-year plan at an investor meeting in Italy. This is important as it will be the final plan presented by CEO Sergio Marchionne who will retire next year. Aside from news about Sergio actually wearing a tie (I'm being completely serious here -WM), there were some interesting bits to come out. We're going to breaking down what is in store for each brand along with intriguing information that was presented. Jeep: Four new models are expected to launch by 2022. They include the Wrangler pickup, Wagoneer/Grand Wagoneer, a smaller model to sit underneath the Renegade, and a three-row crossover to sit next to the Grand Cherokee. By 2021, Jeep is planning to have an electrification option on each nameplate by 2021, along with Level 3 autonomous capability - basically a car can drive itself in limited situations, but requires a driver to jump in at a moment's notice. Diesels will be gradually dropped from the various models, but no timetable was provided. A new 'hawk will be joining the Jeep family. Deserthawk will be models setup for "high-speed sand running". Think Ford Raptor as an SUV. This will launch in the first quarter of 2020. Production capacity will increase to keep up with the demand for SUV and crossovers around the world. Jeep will also introduce Jeep Wave. It's part 'loyalty program' and connected car services, and part subscription service. The loyalty part grants owners of the Hawk models and Wranglers 'Jeep Coins' when purchasing. The coins can be used to borrow other FCA products. Additional coins will be available for purchase. A pilot program will begin in 2019. A more traditional subscription service will launch in 2019. Subscribers pay a monthly fee for access to a fleet of FCA vehicles. Three tiers - Good, Better, and Best - determines vehicle selection, insurance, and concierge services. Jeep will also launch a in-car payment pilot program in 2019 as part of Wave. Ram Trucks: A new Ram Heavy-Duty will be arriving in 2019. By 2022, Ram will have three new/redesigned models: A midsize pickup, redesigned ProMaster City, and the high-performance Ram 1500 TRX. The TRX will compete against the Ford F-150 Raptor. Both the Ram 1500 and redesigned ProMaster City will come with Level 2 autonomous capability in 2021. Maserati: The Alfieri, which was first shown in 2014 as a concept will finally launch it as the replacement for the GranTurismo by 2022. The platform has been designed in such a way that allows for three different powertrains - including a plug-in hybrid and fully-electric version. Maserati claims a 0-100 kph time of two seconds for the electric version. The Alfieri EV will serve as the flagship for Maserati's new Blue lineup. This is the designation for any Maserati model equipped with a fully-electric powertrain comprised of three motors, new battery tech, and all-wheel drive with torque vectoring. The Levante, Ghibli, and Quattroporte will also have Blue models. Redesigns of the Ghibli, Levante, and Quattroporte will arrive by 2022. All of them will have a plug-in hybrid option. A new, smaller crossover will sit alongside the Levante. It is expected to possibly use the platform that underpins the Stelvio. Maserati is hoping to sell 100,000 vehicles by 2022, double the current sales volume. Alfa Romeo: Remember those rumors about the Giulia Coupe? It is real and will be named GTV. Alfa is promising more than 600 horsepower thanks to electric boost, all-wheel drive with torque vectoring, and 50:50 weight distribution. 8C will also be making a comeback as a mid-engine coupe. With a twin-turbo gas engine and electric drive system for the front axle, the combined output will be 700 horsepower. It will also feature a carbon fiber monocoque chassis. Alfa looks to getting out of the subcompact game as there is no product listed for 2022. They'll be sticking in the compact realm with a new Giuletta. Two new crossovers will be joining the lineup. One will sit underneath the Stelvio and the other will sit above. We know a little bit more about the larger model as it will be the first model to debut a new mild-hybrid system. It will be underpinned by a stretched version of the Giulia's platform. Also in the cards are long-wheelbase variants for the Giulia and Stelvio (most likely for China) and plug-in hybrid models. Other Details: Fiat got a brief mention during the meeting. There will be a new 500e and a wagon variant known as Giardiniera. Both models will get a new electric powertrain built for small vehicles. The 500L and 500X will come with hybrid powertrains. No time frames were revealed. "Chrysler is going to continue to be a relevant brand in the United States," said Marchionne when asked about the brand. No mention of Dodge during the conference. FCA will be working a number of partners on developing autonomous vehicles. This includes an expanded partnership with Waymo, along with new partnerships with Aptiv and BMW. Diesel will be phased out from all passenger cars in Europe by 2021. Source: Fiat Chrysler Automobiles
  20. Fiat Chrysler Automobiles announced their latest five-year plan at an investor meeting in Italy. This is important as it will be the final plan presented by CEO Sergio Marchionne who will retire next year. Aside from news about Sergio actually wearing a tie (I'm being completely serious here -WM), there were some interesting bits to come out. We're going to breaking down what is in store for each brand along with intriguing information that was presented. Jeep: Four new models are expected to launch by 2022. They include the Wrangler pickup, Wagoneer/Grand Wagoneer, a smaller model to sit underneath the Renegade, and a three-row crossover to sit next to the Grand Cherokee. By 2021, Jeep is planning to have an electrification option on each nameplate by 2021, along with Level 3 autonomous capability - basically a car can drive itself in limited situations, but requires a driver to jump in at a moment's notice. Diesels will be gradually dropped from the various models, but no timetable was provided. A new 'hawk will be joining the Jeep family. Deserthawk will be models setup for "high-speed sand running". Think Ford Raptor as an SUV. This will launch in the first quarter of 2020. Production capacity will increase to keep up with the demand for SUV and crossovers around the world. Jeep will also introduce Jeep Wave. It's part 'loyalty program' and connected car services, and part subscription service. The loyalty part grants owners of the Hawk models and Wranglers 'Jeep Coins' when purchasing. The coins can be used to borrow other FCA products. Additional coins will be available for purchase. A pilot program will begin in 2019. A more traditional subscription service will launch in 2019. Subscribers pay a monthly fee for access to a fleet of FCA vehicles. Three tiers - Good, Better, and Best - determines vehicle selection, insurance, and concierge services. Jeep will also launch a in-car payment pilot program in 2019 as part of Wave. Ram Trucks: A new Ram Heavy-Duty will be arriving in 2019. By 2022, Ram will have three new/redesigned models: A midsize pickup, redesigned ProMaster City, and the high-performance Ram 1500 TRX. The TRX will compete against the Ford F-150 Raptor. Both the Ram 1500 and redesigned ProMaster City will come with Level 2 autonomous capability in 2021. Maserati: The Alfieri, which was first shown in 2014 as a concept will finally launch it as the replacement for the GranTurismo by 2022. The platform has been designed in such a way that allows for three different powertrains - including a plug-in hybrid and fully-electric version. Maserati claims a 0-100 kph time of two seconds for the electric version. The Alfieri EV will serve as the flagship for Maserati's new Blue lineup. This is the designation for any Maserati model equipped with a fully-electric powertrain comprised of three motors, new battery tech, and all-wheel drive with torque vectoring. The Levante, Ghibli, and Quattroporte will also have Blue models. Redesigns of the Ghibli, Levante, and Quattroporte will arrive by 2022. All of them will have a plug-in hybrid option. A new, smaller crossover will sit alongside the Levante. It is expected to possibly use the platform that underpins the Stelvio. Maserati is hoping to sell 100,000 vehicles by 2022, double the current sales volume. Alfa Romeo: Remember those rumors about the Giulia Coupe? It is real and will be named GTV. Alfa is promising more than 600 horsepower thanks to electric boost, all-wheel drive with torque vectoring, and 50:50 weight distribution. 8C will also be making a comeback as a mid-engine coupe. With a twin-turbo gas engine and electric drive system for the front axle, the combined output will be 700 horsepower. It will also feature a carbon fiber monocoque chassis. Alfa looks to getting out of the subcompact game as there is no product listed for 2022. They'll be sticking in the compact realm with a new Giuletta. Two new crossovers will be joining the lineup. One will sit underneath the Stelvio and the other will sit above. We know a little bit more about the larger model as it will be the first model to debut a new mild-hybrid system. It will be underpinned by a stretched version of the Giulia's platform. Also in the cards are long-wheelbase variants for the Giulia and Stelvio (most likely for China) and plug-in hybrid models. Other Details: Fiat got a brief mention during the meeting. There will be a new 500e and a wagon variant known as Giardiniera. Both models will get a new electric powertrain built for small vehicles. The 500L and 500X will come with hybrid powertrains. No time frames were revealed. "Chrysler is going to continue to be a relevant brand in the United States," said Marchionne when asked about the brand. No mention of Dodge during the conference. FCA will be working a number of partners on developing autonomous vehicles. This includes an expanded partnership with Waymo, along with new partnerships with Aptiv and BMW. Diesel will be phased out from all passenger cars in Europe by 2021. Source: Fiat Chrysler Automobiles View full article
  21. Friday will mark the end of an era as Fiat Chrysler Automobiles CEO Sergio Marchionne will present his final five-year plan before he retires next year. Bloomberg has gotten a possible preview of what to expect from various sources. The overall plan will see FCA focus their resources on "promising niches" instead of competing against such brands as Volkswagen and Toyota in the mass-market. This is possibly seen as a possible plus if FCA was somehow able to partner/merge with another automaker. Jeep is expected to be the focal point of the new five-year plan. Currently, the brand makes up 70 percent of FCA's profits according to estimates from analysts. Marchionne wants to double the sales of brand by 2022 from 1.4 million vehicles sold last year. To do this, Jeep will expand its presence in Asia, Brazil, and Europe. The lineup will also expand with hybrid models arriving next year. Ram Trucks will also be expanded to other markets around the world. There is also talk about possibly combining Alfa Romeo and Maserati as "a single division in FCA's financial reports." Investors could see as a possible first step to a spinoff. Meanwhile, Fiat's lineup is expected to be cut down to just 500 and Panda, with sales limited to Europe, Brazil, and emerging markets. This could mean Fiat withdrawing from the U.S. and China due to poor sales. The former could be problem due to dealer contracts. There is also talk about shrinking Chrysler, though we don't know how much smaller it could get aside from just disappearing. We'll find out more details later this week. Source: Bloomberg via Automotive News (Subscription Required)
  22. Friday will mark the end of an era as Fiat Chrysler Automobiles CEO Sergio Marchionne will present his final five-year plan before he retires next year. Bloomberg has gotten a possible preview of what to expect from various sources. The overall plan will see FCA focus their resources on "promising niches" instead of competing against such brands as Volkswagen and Toyota in the mass-market. This is possibly seen as a possible plus if FCA was somehow able to partner/merge with another automaker. Jeep is expected to be the focal point of the new five-year plan. Currently, the brand makes up 70 percent of FCA's profits according to estimates from analysts. Marchionne wants to double the sales of brand by 2022 from 1.4 million vehicles sold last year. To do this, Jeep will expand its presence in Asia, Brazil, and Europe. The lineup will also expand with hybrid models arriving next year. Ram Trucks will also be expanded to other markets around the world. There is also talk about possibly combining Alfa Romeo and Maserati as "a single division in FCA's financial reports." Investors could see as a possible first step to a spinoff. Meanwhile, Fiat's lineup is expected to be cut down to just 500 and Panda, with sales limited to Europe, Brazil, and emerging markets. This could mean Fiat withdrawing from the U.S. and China due to poor sales. The former could be problem due to dealer contracts. There is also talk about shrinking Chrysler, though we don't know how much smaller it could get aside from just disappearing. We'll find out more details later this week. Source: Bloomberg via Automotive News (Subscription Required) View full article
  23. Fiat Chrysler Automobiles finds itself in a fair amount of hot water over the use of defeat devices in the 3.0L EcoDiesel used in the Ram 1500 and Jeep Grand Cherokee with various lawsuits. But that water could become hotter as newly unsealed documents reveal FCA's suppliers discussed the use of illegal software back in 2010. Sergio Pasini, the controls and calibration director at supplier VM Motori wrote in an email that FCA wanted to use software in their diesel engine that could detect when a vehicle was undergoing emission tests and activate emission controls. The software known as 't_engine' "is, no matter what Fiat says, a cycle detection," Pasini wrote in the email. The lawsuit also alleges that another supplier, Robert Bosch GmbH, warned VM Motori about 't_engine' and that they could face “serious penalties” if it was discovered by regulators. Bosch it should be noted is under investigation for its involvement in the Volkswagen diesel emission scandal. The documents are part of a proposed class-action lawsuit filed against FCA in San Fransisco which alleges the company misled buyers of the EcoDiesel by "touting the fuel economy and performance of its EcoDiesel engines while cheating on emissions tests to win regulatory approval." “We continue to cooperate with various governmental investigations related to diesel emissions, and emails such as those referenced have been previously provided to the agencies. It is inappropriate to draw conclusions from isolated communications and internal deliberations, without the more detailed context that is part of the reviews FCA is conducting as part of the investigation process,” FCA wrote in an email statement. Source: Automotive News (Subscription Required) View full article
  24. Fiat Chrysler Automobiles finds itself in a fair amount of hot water over the use of defeat devices in the 3.0L EcoDiesel used in the Ram 1500 and Jeep Grand Cherokee with various lawsuits. But that water could become hotter as newly unsealed documents reveal FCA's suppliers discussed the use of illegal software back in 2010. Sergio Pasini, the controls and calibration director at supplier VM Motori wrote in an email that FCA wanted to use software in their diesel engine that could detect when a vehicle was undergoing emission tests and activate emission controls. The software known as 't_engine' "is, no matter what Fiat says, a cycle detection," Pasini wrote in the email. The lawsuit also alleges that another supplier, Robert Bosch GmbH, warned VM Motori about 't_engine' and that they could face “serious penalties” if it was discovered by regulators. Bosch it should be noted is under investigation for its involvement in the Volkswagen diesel emission scandal. The documents are part of a proposed class-action lawsuit filed against FCA in San Fransisco which alleges the company misled buyers of the EcoDiesel by "touting the fuel economy and performance of its EcoDiesel engines while cheating on emissions tests to win regulatory approval." “We continue to cooperate with various governmental investigations related to diesel emissions, and emails such as those referenced have been previously provided to the agencies. It is inappropriate to draw conclusions from isolated communications and internal deliberations, without the more detailed context that is part of the reviews FCA is conducting as part of the investigation process,” FCA wrote in an email statement. Source: Automotive News (Subscription Required)
  25. Fiat Chrysler Automobiles' CEO Sergio Marchionne will be making one final move before his retirement - ending production of mass-market vehicles in Italy. Sources tell Bloomberg that on June 1st, Marchionne will unveil a plan that will see the end of production for the Alfa Romeo MiTo and Fiat Punto to make way for more upscale models. Fiat's historic plant in Turin will be retooled to build a new smaller Maserati SUV alongside the Levante. Another plant nearby Naples will be home to a small Jeep SUV after production of the Fiat Panda moves to Poland. It should be noted that the plan isn't finalized and details could change. FCA declined to comment when reached by Bloomberg. Part of the reason for the change comes down to Marchionne's belief that there is no future in building affordable cars in high-wage European countries. The report also mentions that FCA will be cutting Fiat's lineup to just the 500 and Panda in the future Source: Bloomberg

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