Fiat Chrysler Automobiles NV (FCAU) - NYSE
  • Today, 9:52 AM
    • A review by Fiat Chrysler Automobiles (FCAU -0.4%) discovered last year that inflated sales figures were posted in an effort to extend the automaker's streak of positive growth in the U.S., a source confirms to Automotive News.
    • Fiat's business centers around the U.S. have seen a high of rate of employee turnover which is being blamed on the pressure to meet aggressive sales targets.
    • The conclusions from the internal review don't bode well for the direction a DOJ probe will go.
    | Today, 9:52 AM | 2 Comments
  • Fri, Jul. 22, 4:03 PM
    • Fiat Chrysler (FCAU -0.6%) says it is recalling nearly 410K vehicles worldwide because of a defect that can lead to a loss of propulsion.
    • FCAU says it will update software and replace wire harnesses to address the electronic issue that appears in a small number of vehicles.
    • The recall includes 2015 model Chrysler 200 midsize sedans, Ram ProMaster City small vans, Jeep Renegade and Cherokee SUVs and some 2014 Cherokees.
    | Fri, Jul. 22, 4:03 PM
  • Wed, Jul. 20, 1:27 PM
    • Effective immediately.
    • The newly created role will assume responsibility for overseeing all regulatory compliance programs in FCA's four operating regions, both in terms of safety and emissions, including CAFE compliance in the U.S.
    • The Technical Compliance Office will be responsible for evaluation and approval of all new product development initiatives and any changes in the technical standards, including emissions for products currently in production.
    • Mark Chernoby has more than 20 years' experience with FCA where he most recently held the position of COO of Engineering and Development.
    • Source: Press Release
    | Wed, Jul. 20, 1:27 PM | 1 Comment
  • Mon, Jul. 18, 2:58 PM
    • Fiat Chrysler Automobiles (FCAU +0.4%) confirms that it's cooperating with a SEC investigation into the monthly reporting of vehicles in the U.S.
    • The company notes that in quarterly reports it records revenues based on shipments to dealers and customers and not on reported vehicle unit sales to end customers.
    • Fiat also says inquiries into similar issues were made by the DOJ recently.
    • Previously: Bloomberg: Fiat Chrysler Automobiles target of DOJ probe (July 18)
    • Source: Press Release
    | Mon, Jul. 18, 2:58 PM | 8 Comments
  • Mon, Jul. 18, 12:47 PM
    • Fiat Chrysler Automobiles (FCAU -0.4%) is under investigation by the Department of Justice for violations of securities law, according to Bloomberg.
    • It's unclear if the case is related to a charge levied by a Chicago dealer that Fiat paid U.S. dealers to boost sales tallies.
    • FCAU fell 5% lower from a modest gain after the report broke, but is now battling back.
    | Mon, Jul. 18, 12:47 PM
  • Thu, Jul. 14, 6:57 PM
    • Fiat Chrysler (NYSE:FCAU) says it will spend $1B to retool assembly plants in Toledo, Ohio, and Belvidere, Ill., and create 1,000 new jobs as it shuffles its North American production footprint.
    • FCAU plans to invest $700M at its Toledo Assembly North Plant to prepare for the next-generation Jeep Wrangler and expand the production capacity of the SUV, while spending $350M to prepare the Belvidere plant to assemble the Jeep Cherokee, which is currently built in Toledo.
    • FCAU also says it will end production of the Dodge Dart in September and stop producing the Jeep Compass and Jeep Patriot in December 2016, with the two Jeep SUVs to be replaced by a single SUV made in Mexico starting next year.
    | Thu, Jul. 14, 6:57 PM | 17 Comments
  • Wed, Jul. 13, 2:40 AM
    • One year after hackers showed they could control a moving Jeep, Fiat Chrysler (NYSE:FCAU) has a new solution to get computer whizzes to work more closely with the company: pay them.
    • The automaker is launching a so-called bug bounty program aimed at compensating hackers between $150 and $1,500 every time they uncover potential cybersecurity flaws in vehicles and alert the company.
    | Wed, Jul. 13, 2:40 AM | 1 Comment
  • Tue, Jul. 12, 12:14 PM
    • LMC Automotive revises its forecast on U.S. automobile sales for the period from 2016 to 2023.
    • The research firm cuts its estimate for 2016 to 17.4M units from 17.7M units, with the level of retail sales being adjusted to 14.3M units from 14.0M units.
    • "Our latest forecast now reflects the reality that the growth track that the US market has been on since 2009 has stalled and appears to be levelling off, but it does not necessarily signal that further contractions or an automotive recession is imminent," says LMC's Jeff Schuster.
    • The extended forecast is for a slow climb to an annual selling level of 18M in 2021.
    • LMC Automotive forecast (.pdf)
    | Tue, Jul. 12, 12:14 PM | 28 Comments
  • Tue, Jul. 12, 9:24 AM
    | Tue, Jul. 12, 9:24 AM
  • Fri, Jul. 8, 12:00 PM
    | Fri, Jul. 8, 12:00 PM
  • Fri, Jul. 8, 11:16 AM
    • A thoughtful piece in Scientific American take a look at the technological challenges in delivering automated driving services.
    • An electrical engineer at Carnegie-Mellon notes that the vision systems of today's automated test cars are imperfect by a "very good" margin. A mobility expert at the University of California concurs, while adding that drivers may be overestimating their car's automated capabilities due to the use of terms such as "autopilot" and "self-driving." A refined system of cameras, sensors, and radar is still believed by some engineers to be a few years off.
    • Alphabet's (GOOG, [[GOOGL]) top exec in charge of the company's self-driving initiative seemed to back the view of the scientists in his recent testimony to Congress. "We saw in our own testing that the human drivers can’t always be trusted to dip in and out of the task of driving when the car is encouraging them to sit back and relax," he stated.
    | Fri, Jul. 8, 11:16 AM | 239 Comments
  • Wed, Jul. 6, 9:28 AM
    • It's another shocking breach of trust in the automobile sector after PSA Group (OTCPK:PEUGF, OTC:PUGOF, OTC:PUGOF) confirms that advertised fuel economy ratings on Peugeot and Citroen models don't match up with reality (off by 44% on average). Bloomberg reports that it's the first time a major automaker has confirmed a discrepancy between lab results and actual road tests across a broad range of cars.
    • Official PSA lab results
    • Recent failures in the automobile industry include inflated mileage claims from the South Korean automakers, the Takata disaster which deeply impacted Japanese cars, GM's costly ignition switch recall, and the topper in terms of subterfuge - Volkswagen's emissions cheating saga.
    • Some automobile industry analysts have suggested that buyers are scandal-weary and are unlikely to factor in the reputation hits in their buying decisions.
    | Wed, Jul. 6, 9:28 AM | 75 Comments
  • Tue, Jul. 5, 12:00 PM
    | Tue, Jul. 5, 12:00 PM
  • Tue, Jul. 5, 9:47 AM
    • U.S. auto sales may have plateaued in June by volume, but pricing and mix remained favorable for some manufactures. TrueCar reports automakers increased revenue by $3.5B during June, led by the crossover segment.
    • Average transaction prices were estimated to have risen 1.9% Y/Y, although the ratio of incentive spending to ATP was stretched to 9.5% from 8.9% a year ago. Fiat Chrysler Automobiles (NYSE:FCAU) had the highest incentive spending to ATP ratio of major automakers with a 12.3% mark, while Subaru (OTCPK:FUJHY) was the leanest at 2.3%. All the major automakers ended the month with a higher ATP, except South Korean manufacturers Kia and Hyundai (OTC:HYMLF).
    • "The hefty year-over-year increases are narrowing, which is expected after this unprecedented long stretch of gains," says analyst Michelle Krebs.
    | Tue, Jul. 5, 9:47 AM
  • Tue, Jul. 5, 9:15 AM
    | Tue, Jul. 5, 9:15 AM | 1 Comment
  • Fri, Jul. 1, 6:11 PM
    | Fri, Jul. 1, 6:11 PM | 34 Comments
Company Description
Fiat Chrysler Automobiles NV engages in the automobile business, which designs, engineers, manufactures, distributes and sells vehicles, components and production systems. The company's activities are carried out through six reportable segments: four regional mass-market vehicle segments, a... More
Industry: Auto Manufacturers - Major
Country: Netherlands