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
Fri, Jul. 17, 2:09 PM| 4 Comments
Fri, Jul. 17, 7:28 AM
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
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)
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)
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%
Wed, Jul. 1, 8:47 AM
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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