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A key goal of Fiat Chrysler Automobiles’ financial fitness regimen, started under former CEO Sergio Marchionne, has come to pass under his successor, Mike Manley. On Monday morning, FCA announced the sale of its Italian parts unit, Magneti Marelli, to Japan’s Calsonic Kansei, itself owned by KKR & Co. The deal, worth $ 7.1 billion, […]
Dealerships across America were awash in red last month, both from the ink spilling across financial ledgers and the anger emitting from corner offices. Just about every marque was off in September and not by insignificant amounts. This can be blamed on a number of factors, not the least of which was last year’s pent […]
On Monday, former Fiat Chrysler Automobiles labor relations chief Alphons Iacobelli was sentenced to 66 months in federal prison for tax evasion and his key role in the corporate conspiracy to win favorable treatment from the UAW. Apparently, his plea agreement didn’t help him avoid jail time, but it was enough to shave a few […]
A recent edition of Buy/Drive/Burn included a Chrysler 300M from the turn of the century — a car which represented the third time Chrysler created a line of vehicles wearing “300” badges. The other day, the Internet presented the 300M’s closest ancestor, and my curiosity piqued. And since we’re into coupes on Rare Rides lately, come […]
Major manufacturers saw their fortunes take a dip in July, with red ink spilling across the page like an airport departures board during a snowstorm. More than ever, sales performance seems tied to the number of crossovers and SUVs available at a given OEM. Sedan heavy marques are taking a beating. Even Ford’s strong selling […]
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The deteriorating health of Sergio Marchionne forced Fiat Chrysler to replace him as CEO this weekend, a sudden change at a company dealing with a rapidly evolving industry and a global trade dispute.
Fiat Chrysler appointed a new chief executive Saturday in an unexpected move to replace the ailing Sergio Marchionne, who has led the company for nearly a decade.
Several news agencies are reporting that Sergio Marchionne, the colorful chief executive who returned Fiat, and then a combined Fiat Chrysler, to profitability, might not end the day as CEO. Marchionne, who took the helm of Fiat in 2004, was due to retire next April, and recently unveiled the automaker’s upcoming five-year product plan. Two […]
Fiat Chrysler Automobiles won’t comment on a report claiming Hyundai Motor Group plans to launch a bid for the automaker, but that’s what sources with knowledge of the matter tell the Asia Times. The sources claim HMG CEO Chung Mong-koo is biding his time, waiting for FCA’s stock to fall before moving forward on the potential […]
