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Posts Tagged ‘FCA news’

Fiat Chrysler Unveils New Ram Heavy Duty at NAIAS 2019

New truck may be most important intro in some time.

by Joseph Szczesny on Jan.14, 2019

Ram has six variants, or trim levels, for its new heavy-duty truck platform, including the 2500 HD Longhorn Edition.

Once upon a time, they talked about the cars built in Detroit.

But now pick-up trucks are the king of the road in the Motor City and the appearance of the 2019 Ram Heavy Duty pickup, with its blend of technology and power, fitted into a body that’s been completely re-engineered, will be one of the most important vehicles revealed at the 2019 edition of the North American International Auto Show.

Truck News!

Executives from Fiat Chrysler Automobile N.V. describe the 2019 Ram Heavy Duty as the most powerful, most capable pickup in hotly contested and enormously profitable segment, which commands the full attention of not only FCA but also its local rivals General Motors. (more…)

Fiat Chrysler Settles Emissions Cheating Case for $800 Million

Deal resolves cases with federal, state officials, vehicle owners.

by Michael Strong on Jan.10, 2019

Fiat Chrysler agreed to an $800 million settlement to resolve charges of cheating on emissions tests.

Fiat Chrysler reached an $800 million settlement with federal and state government agencies as well making good with the owners of vehicles affected by alleged cheating on emissions tests.

The automaker agreed on Thursday to a deal with the Justice Department and the Environmental Protection Agency, to pay nearly $300 million to the U.S. government and $19 million to California for installing a cheat device to beat emissions tests.

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It’ll pay another $280 million to recall and repair the more than 104,000 out-of-compliance Jeep SUVs and Ram pickup trucks, including payouts to owners of the vehicles of about $2,800 each. (more…)

FCA Adds Two New Executives to Company’s Top Ranks

Stewart, Golightly come from outside auto industry.

by Michael Strong on Dec.07, 2018

FCA CEO Mike Manley added two new executives from outside the automotive industry.

Many thought that CEO Mike Manley would be Sergio Marchionne’s successor, and his first big decisions have largely followed Marchionne’s most recent five-year plan. However, today is a new day and Manley is proving to be an executive willing to make his own decisions.

After nearly a decade of developing and renewing its leadership team internally, Fiat Chrysler Automobiles hired a pair of executives from outside the automotive industry to man key leadership posts.

Business News!

Manley named former Amazon Vice President Mark Stewart Fiat Chrysler’s North American COO, a job held at the beginning of this year by CEO Sergio Marchionne before his death in July and then by Manley. (more…)

FCA Set to Open New SUV Plant in Detroit

Move would come as GM prepares to idle three plants.

by Paul A. Eisenstein on Dec.06, 2018

The converted engine plant will produce a three-row version of the Jeep Grand Cherokee.

Fiat Chrysler Automobiles plans to open a new assembly plant in Detroit to expand its capacity to produce hot-selling sport-utility vehicles, according to several reports.

The automaker has yet to confirm that it will completely retool an old engine plant on Detroit’s east side, but company officials have, in recent months, indicated that they are strained to the limits of capacity at their existing light truck plants.

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Breaking News!

The news comes at an awkward time for FCA’s largest domestic rival, General Motors. GM’s CEO Mary Barra on Thursday spent a second day in Washington trying to minimize criticism of the automaker’s plan to close three assembly plants building slow-selling passenger car models like the Chevrolet Cruze. That would leave what has long been known as the Motor City with only one working assembly plant within its borders, at least unless and until the new FCA truck plant were to come online.

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FCA Pledges $5.7B Investment in Italian Auto Plants

Plans call for new 500 EV and Alfa Romeo hybrid.

by Michael Strong on Nov.30, 2018

FCA CEO Mike Manley signed off on a $5.7 billion investment plan in the company's facilities in Italy.

Fiat Chrysler Automobiles said this week that its plants in Italy would return to full employment with a $5.7 billion investment in new cars and engine technology, including a fully electric version of the Fiat 500 city car and a plug-in hybrid Alfa Romeo compact utility vehicle.

The FCA announcement plans to mollify anxious union workers – and uneasy political factions in its home country – offer a sharp contrast to the tack taken by General Motors Co., which announced plans to close seven plants and eliminate 15,000 jobs.

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GM’s announcement angered union officials in the U.S. and Canada as well as figures from opposite end of the political spectrum, such as U.S. President Donald Trump and Canadian Prime Minister Justin Trudeau. (more…)

More UAW, FCA Officials Sentenced in Bribery Scandal

Borman declared no leniency for defendants.

by Joseph Szczesny on Nov.07, 2018

The UAW long tried to maintain a squeaky clean reputation, but the scandal has sorely tarnished its image.

Two former Fiat Chrysler Automobile N.V. officials and one former leader of the United Auto Workers have been sentenced to prison terms, ranging from 12 months to 15 months, for their part in a conspiracy to violate federal labor law.

The sentences imposed on FCA’s Michael Brown and Jerome Durden as well as the UAW’s Keith Mickens come more than two years after the federal government announced indictments triggered by a scheme in which FCA officials used subterfuge to bribe union officials in a bid to secure labor peace.

Breaking News!

Former FCA Vice President Alphons Iacobelli, a central figure in the case, was sentenced to five and a half years in a federal prison, while Monica Morgan, the widow of former UAW VP General Holiefield, one of the central figures in the scheme, was sentenced to 18 months prison earlier this year after pleading guilty to federal tax charges.

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Fiat Chrysler’s Q3 Profits Dinged Due to Diesel Emission Charges

Record earnings before diesel issue may mean dividend payment.

by Joseph Szczesny on Oct.30, 2018

Fiat Chrysler's third quarter earnings were hurt by charges tied to possible diesel emissions violations.

Fiat Chrysler Automobiles net income dropped 38% during the third quarter despite record adjusted earnings before interest and taxes of 2 billion euros, or $2.27 billion, opening the door for the company to pay its first dividend since it was re-organized in 2014.

However, net profit decline 38% to 600 million euros, or $681.16 million, including a 700 million charge related to U.S. diesel emissions matters. FCA is now under investigation by U.S. Department of Justice for the company’s failure to disclose software on about 104,000 diesel-powered pickups and SUVs that regulators said could be similar to the “defeat devices” Volkswagen AG used to cheat emissions-testing on millions of its diesel-powered vehicles.

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FCA’s worldwide shipments increased by 3% and net revenue grew by 9% to 28.8 billion euros during the quarter. Despite cost of the diesel penalties, FCA’s adjusted EBIT in the North America region grew by 51% with margin at 10.2%, according to the financial information released by the company. (more…)

FCA, Mopar Offer Sneak Peek at SEMA Offerings

Ram trucks get massive makeovers.

by Michael Strong on Oct.26, 2018

Mopar's Low Down Ram gets lower and meaner for SEMA. It's one of two Rams heading to the show in Las Vegas.

With SEMA right around the corner, Fiat Chrysler officials are providing an early look at two entries it’s bringing to the Las Vegas show: The Low Down Ram and Ram Rebel.

The pickup trucks, customized with a combination of Mopar production and prototype parts and accessories, are two of 14 personalized rides, as well as hundreds of Mopar products, that will be on display in the brand’s 15,345-square-foot exhibit in the Las Vegas Convention Center.

The Last Word!

“The SEMA Show is truly the greatest stage for our brand to demonstrate what owners and enthusiasts can create with a little imagination and a selection of Mopar parts and accessories,” said Steve Beahm, Head of Parts & Service (Mopar) and Passenger Car Brands, FCA – North America.  (more…)

FCA Sells Magneti Marelli for $7.1B to KKR’s Calsonic Kansei

CEO Manley signs off on deal Marchionne started.

by Joseph Szczesny on Oct.22, 2018

Selling off Magneti Marelli could accelerate the development of EVs and AVs FCA CEO considers critical to FCA's success.

After two years of speculation about if it and when it would do so, Fiat Chrysler Automobiles agreed to sell Magneti Marelli to KKR’s Calsonic Kansei for $7.14 billion, or 6.2 billion euros.

The new company, which is now the world’s seventh largest auto supplier, will be called Magneti Marelli CK Holdings. The new company boasts revenue of 15.2 billion euros, or $17.5 billion, the companies said.

Global News!

“This combination with Calsonic Kansei has emerged as an ideal opportunity to accelerate Magneti Marelli’s future growth,” Manley said on Monday of the FCA unit, which specializes in lighting, powertrain and high-tech electronics. (more…)

Jeep to Launch Renegade Plug-In Hybrid in 2020

Automaker set to have 12 electrified models in productions by 2022.

by Paul A. Eisenstein on Oct.09, 2018

In 2020, Fiat Chrysler will offer a plug-in hybrid version of the Jeep Renegade to kick off its electrification program.

After a slow start, Fiat Chrysler Automobiles is plugging into battery power in a big way, the Euro-American automaker confirming plans to introduce a plug-in hybrid version of the Jeep Renegade in early 2020.

That follows the launch of a so-called “mild” hybrid system on the all-new Jeep Wrangler launched last year. The system, known as eTorque, is also being used on the completely overhauled 2019 Ram 1500 pickup just now rolling into U.S. showrooms.

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The Jeep Renegade PHEV will mark a major push into battery power for FCA, the company recently announcing that its various brands will introduce a dozen more advanced electrified models by 2022, ranging from conventional “full” hybrids to plug-ins to all-electric offerings. They will cover a wide spectrum of models and price segments, including the all-new plug-in supercar being developed by the Alfa Romeo brand. (more…)