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Wed, Jan. 6, 11:56 AM
- Major automakers are stealing the show this week at CES in Las Vegas off of some dreamy futuristic innovations, but are slumping in New York trading on some grounded reality. Detroit automakers Fiat Chrysler (FCAU -6%), Ford (F -3.4%), and General Motors (GM -2.8%) are all notably lower.
- U.S. auto sales increased 9% Y/Y in December, but were boosted by some extra discounting. Still, the higher mix of SUVs and premium trucks could help to make up for the year-end inventory clearing, note some insiders. Even accounting for discounting, pricing trends improved in December compared to a year ago, reports Kelley Blue Book.
- Looking ahead, the strong appeal of crossovers with millennials is seen as underpinning demand into 2016.
- There's been skittish trading across automobile related sectors. Earlier today, AutoNation rattled the auto retailer group with a warning, while auto parts stocks are down sharply once again - led by Federal-Mogul (FDML -5.8%), Stoneridge (SRI -5%), and Lear (LEA -4%).
Wed, Jan. 6, 9:18 AM
Tue, Jan. 5, 8:33 AM
- Fiat Chrysler Automobiles (NYSE:FCAU) recorded another month of double-digit sales growth, paced again by strong demand across Jeep models.
- Brand sales growth: Fiat +1% to 3,805; Chrysler -21%% to 24,292; Jeep +42% to 89,654; Dodge +6% to 49,256; Ram +4% to 50,463; Alfa Romeo 57 (new).
- Model standouts: Compass +78% to 8,825 units; Cherokee +36% to 24,049 units; Durango +25% to 7,624 units; Wrangler +11% to 15,591 units.
- Average transaction price +2.8% Y/Y to $34,619 (via KBB).
- The automaker says it ended the month with 81 days supply of inventory vs. 86 days in November.
- Previously: Fiat Chrysler Automobiles Dec. U.S. sales: +13% (Jan. 05 2016)
Tue, Jan. 5, 8:24 AM
Mon, Jan. 4, 1:52 PM
- Fiat Chrysler Automobiles (NYSE:FCAU) CEO Sergio Marchionne doesn't see another major merger being worked out until his tenure at the company is over.
- The exec seems to have soured on the prospect of turning GM into a merger partner after meeting personally with Mary Barra last month. Fiat's efforts to spark widespread consolidation in the automobile industry last year didn't go very far with other automakers as well.
- Marchionne is due to retire at the end of 2018.
- Previously: Fiat Chrysler shares plunge following Ferrari spinoff (Jan. 04 2016)
Mon, Jan. 4, 12:40 PM
Mon, Jan. 4, 9:17 AM
Mon, Jan. 4, 4:20 AM
- Fiat Chrysler (NYSE:FCAU) opened a third lower in Milan this morning as the Italian-American car manufacturer began trading without its former crown jewel - Ferrari (NYSE:RACE).
- The company distributed an 80% stake in the luxury sports-automaker to shareholders on Sunday, ending 30 years of its exclusive control.
- The spinoff, first announced more than a year ago, comes after Fiat Chrysler sold a 10% stake in Ferrari in an initial share sale on the NYSE in October.
Dec. 31, 2015, 2:02 PM
- Ferrari (NYSE:RACE) will be set free by Fiat Chrysler Automobiles (NYSE:FCAU) next week in a highly-anticipated distribution of shares to Fiat shareholders.
- Big plans are in store for a stand-alone Ferrari, including luxury consumer goods product development and a new theme park.
- Sergio Marchionne won't stray far from the driver's seat at Ferrari as he retains his chairman position.
- Ferrari trades at $48.63 vs. a post-IPO high of $60.97 and the initial pricing level of %2.
Dec. 28, 2015, 1:13 PM
- European car registrations rose 13.7% in November to 1,085,259 units.
- Registrations growth by manufacturer: Volkwagen Group (OTCPK:VLKAY) +4.1% to 263,797 units; Peugeot (OTCPK:PEUGF) +13.6% to 112,327 units; Renault (OTC:RNSDF) +14.7% to 106,166 units; Ford (NYSE:F) +20.5% to 76,193 units; Opel (NYSE:GM) +18.3% to 74,269 units; BMW (OTCPK:BAMXY) +10.1% to 72,871 units; Fiat Chrysler (NYSE:FCAU) +18.6% to 67,088 units; Daimler (OTCPK:DDAIF) +22.8% to 67,444 units; Toyota (NYSE:TM) +6.1% to 45,464 units; Nissan (OTCPK:NSANY) +5.4% to 37,699 units; Mazda (OTCPK:MZDAY) +38% to 15,641 units.
- For the year, the automakers increasing their market share the most have been Fiat Chrysler (+30 bps to 6.3%), Daimler (+40 bps to 5.8%), and Nissan (+30 bps to 4.0%).
Dec. 24, 2015, 7:40 AM
- Ferrari's (NYSE:RACE) two largest investors have signed a pact that will effectively protect the sports car maker from unwanted suitors after it is spun off of Fiat Chrysler (NYSE:FCAU) next month.
- The agreement between the Agnelli family investment company and Piero Ferrari, the son of Ferrari's founder, will take effect in the first few days of January just after the spinoff becomes official.
Dec. 22, 2015, 3:32 PM
- TrueCar forecasts new automobile sales will increase 12.8% Y/Y in December to 1,699,600 units.
- A boost in end-of-year promotional activity and macroeconomic factors helped spur sales, according to the research firm. The average incentive per unit is forecast to be up 3.9% Y/Y to $3,063 with Volkswagen and Hyundai firing off the largest increases.
- Sales growth projections by manufacturer: BMW (OTCPK:BAMXY) +8.7% to 52.4, Daimler (OTCPK:DDAIF) +16.3% to 44.5K, Fiat Chrysler Automobiles (NYSE:FCAU) +19.8% to 233.3K, Ford (NYSE:F) +9.1% to 239.3K, General Motors (NYSE:GM) +12.1% to 307.7K, Honda (NYSE:HMC) +10.5% to 151.7K, Hyundai (OTC:HYMLF) +13.8% to 73.4K, Kia +29% to 58.8K, Nissan (OTCPK:NSANY) +17.9% to 138.3K, Subaru (OTCPK:FUJHY) +4.2% to 52K, Toyota (NYSE:TM) +11.3% to 239.4K, Volkswagen (OTCPK:VLKAY) -8.6% to 52.2K.
Dec. 18, 2015, 5:41 PM
Dec. 17, 2015, 2:36 AM
- Fiat Chrysler (NYSE:FCAU), which lags the auto industry in fuel efficiency, has purchased U.S. greenhouse gas emissions credits from rival automakers Toyota, Tesla and Honda Motors.
- The EPA said that the Italian American automaker has purchased about 8.2M megagrams of emissions credits. A megagram is equal to 1,000 kilograms and is calculated on emissions saved over legal requirements.
Dec. 16, 2015, 4:20 PM
- Proposed rules in California would require drivers in the state to apply for a special driver's license before being allowed to use an autonomous car.
- The self-driving car would also go through an independent test before being set free on the road.
- Self-driving cars will only be available for lease if the proposed regulations are approved.
- Controversial issues with where insurance liability will fall are still being hashed out.
- Most automakers are dabbling with self-driving cars or autonomous features, while Alphabet has the most advanced program. However, by the looks of it the Alphabet concept vehicle could have trouble with the California DMV standards.
- Previously: Ford wins permit for public testing of self-driving cars (Dec. 15 2015)
- Related stocks: GM, F, FCAU, TSLA, HMC, TM, OTCPK:NSANY, OTCPK:BAMXY, OTCPK:DDAIF.
Dec. 10, 2015, 10:53 AM
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