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Fiat Chrysler Automobiles NV (FCAU)

  • Fri, Jul. 24, 1:24 PM
    • Kelley Blue Book forecasts new car sales in the U.S. will increase 2.6% Y/Y in July to 1.47M units, led by a 13.4% jump in the compact SUV/crossover segment.
    • Forecasts by major manufacturers are posted below.
    • General Motors (NYSE:GM): +0.7% Y/Y to 258K units, market share of 17.6%.
    • Ford (NYSE:F): +0.8% to 214K, market share of 14.6%.
    • Fiat Chrysler Automobiles (NYSE:FCAU): +4.4% to 175K units, market share of 11.9%.
    • Toyota (NYSE:TM): -0.4% to 215K units, market share 14.6%.
    • Honda (NYSE:HMC): +2.3% to 139K units, market share 9.5%.
    • Nissan (OTCPK:NSANY): +4.6% to 127K units, market share 8.6%.
    • Hyundai/Kia (OTC:HYMLF): -0.3% to 119K, market share 8.1%.
    • Volkswagen (OTCQX:VLKAY): +5.1% to 52K, market share 3.5%.
  • Fri, Jul. 24, 10:58 AM
    • Fiat Chrysler Automobiles (NYSE:FCAU) recalls 1.4M vehicles to update software to protect vehicles from remote manipulation through a mobile network.
    • The recall action is a direct response to a coordinated hack of a Jeep vehicle driven by a Wired writer.
    • Models recalled include Dodge Viper, Ram (1500, 2500, 3500, 4500, 5500) pickups, Jeep Grand Cherokee and Cherokee SUVs, Dodge Durango SUVs, Chrysler 200, Chrysler 300, Dodge Charger, and Dodge Challenger.
    • Fiat Chrysler Automobiles software update
    • Previously: Automakers start to tackle hacking issue (Jul. 23 2015)
  • Thu, Jul. 23, 6:46 AM
    • Fiat Chrysler Automobiles (NYSE:FCAU) files for an IPO for Ferrari on the NYSE.
    • The number of shares and pricing haven't been determined yet.
  • Fri, Jul. 17, 2:09 PM
    • Fiat Chrysler Automobiles (FCAU +1%) is mulling over a possible sale of its Magneti Marelli business, sources tell Reuters.
    • Magneti Marelli is a major auto parts supplier that could be as worth as much as $3B.
    • A consortium of buyers including P-E firms is believed to be interested in the property.
  • Fri, Jul. 17, 7:28 AM
    • Fiat Chrysler Automobiles (NYSE:FCAU) announces the extension for an exchange of several series senior notes.
    • The company says over $3B in principal amounts is covered by the extension.
  • Thu, Jul. 16, 7:30 AM
    • Fiat Chrysler Automobiles (NYSE:FCAU) car registrations +17.7% to 87,438 units in June, according to the European Automobile Manufacturers Association.
    • Overall EU registrations +14.8% Y/Y to 1,413,911 units in June to mark the strongest month-over-month increase since December of 2009.
    • Fiat Chrysler market share: 6.2% vs. 6.0% a year ago.
    • Fiat Chrysler YTD registrations +12.6%.
    • Results include the Fiat, Jeep, Lancia, Chrysler, and Alfa Romeo brands.
    • EAMA release (.pdf)
  • Wed, Jul. 15, 10:48 AM
    • Fiat Chrysler Automobiles (FCAU +2.3%) announces it will sell its Maserati brand in India again after a three-year lapse.
    • The automaker suspended sales after trouble with its former joint venture partner.
    • A global Maserati sales target of 75K units was set by Fiat earlier this year. Last year, the company sold 36,448 units of the luxury brand.
  • Wed, Jul. 15, 8:30 AM
    • Fiat Chrysler Automobiles (NYSE:FCAU) CEO Sergio Marchionne won't be knocking on the door at General Motors (NYSE:GM) about a mega-merger, the exec tells The New York Times.
    • "I was rebuffed once, and I won’t go back to get my nose bloodied a second time," said the combative exec.
    • GM CEO Mary Barra didn't even give a glimmer of hope that merger talks would progress in her public statements on the Fiat overture.
    • Marchionne still thinks consolidation is the smart play for major automakers, but notes Fiat can wait for the right strategic deal.
    • Fiat's thesis ("Confessions of a Capital Junkie") on the industry issued earlier this year is an interesting read.
  • Tue, Jul. 14, 12:54 PM
    • The NHTSA is investigating a second airbag inflator company after receiving complaints on several different models supplied by ARC Automotive.
    • 420K Fiat Chrysler (NYSE:FCAU) Town and Country minivans and 70K Kia (OTC:HYMLF) Optima cars could be part of the ARC probe if it expands.
    • The massive recall of airbag inflators made by Takata has been one of the most damaging in history.
    • ARC Automotive is owned by PE-backed The Jordan Company.
    • Takata recall timeline
    | 1 Comment
  • Mon, Jul. 13, 4:45 AM
    • Ford (NYSE:F), General Motors (NYSE:GM) and Fiat Chrysler (NYSE:FCAU) are today due to start talks with the United Auto Workers (UAW) over a new contract for employees, with the WSJ reporting that the two-tier wage system is likely to be a main topic of discussion.
    • The UAW will work to close the gap whereby more veteran workers receive $28 an hour while newer staff get $19. Profit-sharing and healthcare packages are also likely to be changed.
    • The sides have until September 14, when the current contract expires, to reach an agreement.
  • Thu, Jul. 9, 3:55 PM
    • Fiat Chrysler Automobiles (NYSE:FCAU) confirms Ferrari will be an Italian company after it's spun off to shareholders.
    • The statement from Fiat followed ongoing speculation in Europe that Ferrari will relocate to save on tax payments.
    • The use of a Dutch parent company for Ferrari will be for organizational purposes and won't involve a shift in employees and assets.
    • Previously: Ferrari IPO may exceed $11B (July 5)
    • Previously: Ferrari picks UBS to manage NY listing (July 8)
    | Comment!
  • Wed, Jul. 8, 2:58 AM
    • Ferrari, the luxury car unit being spun off by Fiat Chrysler Automobiles (NYSE:FCAU), has picked UBS to help manage its initial public offering in New York this year, Bloomberg reports.
    • JPMorgan and Goldman are also due to help in selling 10% of Ferrari's shares to investors.
    • Reason for the spin-off: Debt-laden Fiat Chrysler hopes the move will help fund a €48B ($52.5B) investment program that focuses on expanding the Jeep, Alfa Romeo and Maserati brands globally.
    • Previously: Ferrari IPO may exceed $11B (Jul. 05 2015)
    | Comment!
  • Sun, Jul. 5, 11:44 AM
    • Sergio Marchionne, chief executive officer of Fiat Chrysler Automobiles (NYSE:FCAU), expects the company's Ferrari unit to be valued "at least" at €10B ($11B) in an initial public offering scheduled for 2015.
    • Last year, the automaker announced plans to sell 10% of Ferrari and distribute its remaining 80% stake to Fiat Chrysler investors. Piero Ferrari (the son of founder Enzo Ferrari) plans to keep his 10% holding.
    • Mirroring the multi-national structure of its parent company, Ferrari will likely list on the NYSE as a Dutch holding with its fiscal residence in the U.K.
  • Wed, Jul. 1, 8:56 AM
    • Fiat Chrysler Automobiles (NYSE:FCAU) recorded its best month of June sales since 2006 with strong gains again for Jeep and Chrysler models.
    • Brand sales growth: Fiat -30% to 3,137; Chrysler +28% to 30,809; Jeep +25% to 71,529; Dodge -14% to 43,457; Ram +2% to 36,078; Alfa Romeo 25 (new).
    • Model sales growth: Jeep Patriot +41% to 9,691; Jeep Wrangler +17% to 19,159; Jeep Cherokee +39% to 18,472; Chrysler 200 +153% to 18,560; Dodge Dart -7% to 6,702; Ram P/U +1% to 33,332; Chrysler Town & Country -37% to 8,284; Fiat 500 -31% to 2,283; Alfa Romeo 4C (new) 25.
    • The automaker says it ended the month with 78 days supply of inventory vs. 69 days last month.
    • Previously: Fiat Chrysler Automobiles June U.S. sales: +8.2%
    | 1 Comment
  • Wed, Jul. 1, 8:47 AM
    • Fiat Chrysler Automobiles (NYSE:FCAU) unit sales +8.2% to 185,035 units vs. 9%-10% estimated.
    • Car sales increased 17% during the month to 46,258 units.
    • Truck sales +6% to 138,777 units.
    | Comment!
  • Tue, Jun. 30, 8:44 AM
    • Forecasts for 2015 U.S. auto sales have been pushed higher as consumer confidence is seen staying solid.
    • Some analysts see combined 2015 and 2016 U.S. auto sales topping 34M to mark the best two-year stretch since 2000-2001.
    • The mid-size SUV/crossover segment continues to be a strong area for the sector to the benefit of the Detroit Three (GM, F, FCAU).
    • Under the radar, Subaru (OTCPK:FUJHY) and Mitsubishi Motors (OTCPK:MMTOF) have picked up market share this year.
    • Automobile manufacturers report June U.S. sales tomorrow.
    • Previously: U.S. June auto sales forecast to rise over 6% (June 25)
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