Tag Archives: marchionne

Trade Wars: FCA to Expand Production Capacity in Michigan

Given his vast international experience, Manley appears ideal to negotiate the choppy waters of ongoing and yet unknown trade wars and protect FCA’s investment of nearly $14.5 billion since 2009, with ~30,000 jobs created to date. All automakers are against Trump trade policy by twitter. Continue reading

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Can Chrysler Save Fiat as 2013 Profits approach $2 Billion?

Bottom line is the UAW is out of its Chrysler investment. Fiat is all in with uncertain prospects going forward. Continue reading

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Marchionne Apologizes for Being Irreverent

Fiat CEO Sergio Marchionne has apologized to an organization called One Voice for his quip last January at the North American International Auto Show where he said Alfa Romeo models when re-introduced into North America should have Italian engines. Journalists present laughed it off as being typical of the straight talking executive who uses humor, including self-deprecating humor to make his points. Continue reading

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Milestones: One Million Fiat 500 Cars. EV Comes to California in 2013

The one-millionth Fiat 500 left the Fiat Auto Poland production line. Since its reappearance in 2007, the tiny Cinquecento or 500 has been sold in more than 100 countries – from Italy to Brazil, South Africa to Japan, and the United States to the Middle East – while also being produced in Toluca, Mexico, since 2011 as a requirement for taxpayer funding for fuel efficient cars that was part of the conditions for Chrysler’s bankruptcy bailout. More than 70,000 have now been sold in the U.S. The 500 in its most fuel-efficient manual transmission version is rated at 31 mpg city and 40 mpg highway by the EPA. Continue reading

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Canadian Auto Workers Have Tentative Deal at GM. Fiat Holds Out

Chrysler negotiators might be holding out to see if the CAW can get the controversial contracts ratified. A step in that direction occurred today as CAW in-plant leadership at Ford unanimously endorsed the new, four-year collective bargaining deal that extends U.S. style two tier wages. The union will be holding a series of ratification meetings over the weekend, where members at Ford will vote on the tentative deal. Continue reading

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EU Car Sales Down 8.7% in May. Eight Straight Months of Drops

New passenger car sales in the EU declined 8.7% in May to 1,106,845. It was the eighth consecutive month of sales declines, according to ACEA, the automakers association. Five months into the year, new registrations amounted to 5,442,326 units or 7.7% less than in the same period last year as the EU is headed for its fifth straight year of car sales declines with unemployment at depression levels. Continue reading

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Chrysler Execs to Move into Detroit for the First Time

Chrysler is leasing nearly 33,000 square feet of space and, after the space is refurbished, about 70 people will move in. It’s largely a symbolic gesture now, but it’s important for the city of Detroit and the comeback car company that many had left for dead. Continue reading

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Chrysler Group Q1 Profit $740 million on 33% Sales Increase

“I have really no bad news to tell you,” said Sergio Marchionne, Chairman and Chief Executive Officer of Chrysler Group. “We continue to focus on new product launches, and 2012 is the weakest year for new products. The big one is 2013.” Continue reading

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EU Automakers Protest Globalization as Trade Policy

Call it pragmatism or pure hypocrisy, but the Association of European Automakers – ACEA – is protesting trade negotiations to open markets. This is the so-called globalization that many – if not all- of its parent automaker companies previously used to break or weaken unions as they moved jobs away from their older, established manufacturing sites. Now, the effect of globalization is coming home to an impoverished European roost as the EU opens up formerly protected markets to developing countries, some of which produce automobiles. Management and remaining workers are in danger of losing their jobs this time. Continue reading

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European Auto Sales down in 2011 for Fourth Straight Year

For the year American automakers General Motors finished fourth with a flat 8.7% share. Fifth place Ford Motor (8%, a slight decline) made no sales progress either, even though both companies have introduced a series of new models. Sixth place Fiat – the owner of Chrysler courtesy of American taxpayers – continues to struggle along with Italy, off almost a full percentage point in share to 7.1%. One bright spot – Jeep sales are up 63% from an admittedly small base to more than 22,000 units. Continue reading

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Tidbits – Leaf, Marchionne, Volt, Politics, Rust, Electronics

Nissan has re-opened “reservations” for the 2012 Nissan Leaf electric vehicle in Delaware, Indiana, Louisiana, Nevada, Ohio, Pennsylvania, and Rhode Island. Deliveries will begin next spring. Nissan LEAF is now available for order in 30 states, including Washington, D.C. National … Continue reading

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Chrysler Group Reports Q3 Net Income of $212 Million

Chrysler results stand in contrast to Ford Motor, which yesterday reported third quarter 2011 net income of $1.6 billion, or 41 cents per share, a decrease of $38 million, or 2 cents per share, versus third quarter 2010 on revenue of $33.1 billion, an increase of $4.1 billion from Q3 2010. Ford Q3 2011 pre-tax operating profit was $1.9 billion, or 46 cents per share, with an operating margin of 4.8%. Chrysler remains the smallest and weakest of the Detroit Three with limited international operations. Still, Chrysler is clearly on the mend. Continue reading

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Revised Fiat Management Structure Subsumes Chrysler. Fiat Executives Dominate Newly Formed Group Executive Council

Both the management of Fiat Automobiles and Chrysler will be merged on September 1 under a plan that creates a Group Executive Council dominated by Fiat executives. Continue reading

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Chrysler Pays Back Taxpayers. Fiat Now Firmly in Control

The historic bailout differs this time around in what’s left and more importantly who owns it – along with the familiar, nagging question, can Chrysler make it? The new Chrysler Group is now firmly, irrevocably in the hands of Fiat, an Italian multinational firm, which has a global fight in front if it as it too competes to survive in an automobile business dominated by much stronger competitors. Continue reading

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European Car Sales Decline in January

For U.S. taxpayers with substantial stakes in Fiat-controlled Chrysler and GM there were uneven results. Chrysler sold a mere 2,353 vehicles in January, down 24%. However, CEO Sergio Marchionne maintains that Lancia can help Chrysler sales by distributing its cars, and Jeep has substantial room for growth.

The Opel/Vauxhall subsidiary of GM posted a rise of 6% to 72,553 vehicles helped by growth in Germany. Opel, with more than 40,000 employees in Europe, lost the owners of GM, including U.S. and Canadian taxpayers more than $1.1 billion in the first three quarters of 2010, with the final results not in yet. Continue reading

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