Sat, May 23, 10:51 PM
- Fiat Chrysler Automobiles (NYSE:FCAU) CEO Sergio Marchionne made a direct approach to General Motors (NYSE:GM) about a merger last March, according to the New York Times.
- An e-mail from the CEO pitched the strategic advantages of a combination of the two auto heavyweights, but was rebuffed by GM.
- In the last month, Marchionne made a highly entertaining trip to Silicon Valley and has been backing the company's 25-page thesis titled "Confessions of a Capital Junkie in which it highlights the benefits of automobile industry consolidation.
- Previously: Fiat Chrysler Automobiles peers through the looking glass (April 30)
- Previously: Sergio Marchionne goes to Silicon Valley (May 11)
Tue, May 19, 7:31 AM
- Fiat Chrysler Automobiles (NYSE:FCAU) European car registrations +13.4% to 78,957 units in April, according to the European Automobile Manufacturers Association.
- Overall EU registrations +6.9% Y/Y in April, led by a strong month in Germany, the U.K., and Italy. YTD registrations +8.2%.
- Fiat Chrysler Automobiles market share: 6.5% vs. 6.2% a year ago.
- Fiat Chrysler YTD registrations +12.1%.
- Results include the Fiat, Jeep, Lancia, Chrysler, and Alfa Romeo brands.
- EAMA release (.pdf)
Mon, May 18, 1:59 PM
- The NHTSA plans to hold a public hearing to determine if Fiat Chrysler Automoibles (NYSE:FCAU) failed to live up to its obligations under the Motor Vehicle Safety Act in 20 separate recalls.
- The hearing is scheduled for July 2.
- The government agency also issued a special order demanding further information from Fiat on its recall performance.
Mon, May 18, 12:00 PM
Mon, May 18, 7:17 AM
Mon, May 11, 7:52 AM
- Fiat Chrysler Automobiles (NYSE:FCAU) CEO Sergio Marchionne is still calling for consolidation in the automobile industry, despite his pleas falling on some deaf ears with some other top automaker execs.
- Marchionne also tipped off that he made a California trip in which he met with Tesla Motors CEO Elon Musk, Apple CEO Tim Cook, and took a spin in Google's self-driving car.
- "I'm incredibly impressed with what that kid has done," said Marchionne on Musk.
- He walked away from the Cook meeting thinking Apple is interested in its "intervention" in the car - a subtle distinction which leans toward Apple being a software player not a manufacturer.
- Previously: Fiat Chrysler Automobiles peers through the looking glass (Apr. 30 2015)
Sat, May 9, 10:55 AM
- Toyota (NYSE:TM) and Mazda (OTCPK:MZDAY) are discussing expanding their existing partnership into fuel cell development, according to Reuters.
- Mazda was toying with building its own fuel cell vehicle before deciding to team up with Toyota.
- Toyota is a leader in the burgeoning hydrogen FCV industry and is sharing some of its patents for free in an effort to see infrastructure build-out expand in key nations.
- Battle lines are still being drawn over the direction of next-gen vehicles with Japanese automakers (OTCPK:NSANY, TM, HMC, OTCPK:MZDAY, OTCPK:SZKMY, OTCPK:FUJHY, OTCPK:MMTOF) and Hyundai (OTC:HYMLF) more heavily exploring hydrogen fuel cells - while the Detroit Big Three (GM, F, FCAU) and Tesla Motors (NASDAQ:TSLA) have a sharper focus on battery-powered electric vehicles.
- German automakers (OTCQX:VLKAY, OTCPK:DDAIF, OTCPK:BAMXY) are seen hedging their bets a bit with the group supporting efforts to build out a hydrogen charging network in Germany and selling electric vehicle (PHEV, BEV, hybrids) models at the same time.
- Some analysts think politicians may have the final say. The 2016 U.S. presidential election and the success of Japanese Prime Minister Shinzo Abe are key factors.
- Previously: Millennials have the steering wheel now (Jan. 31)
- Previously: Academic study sees future for clean and cheap hydrogen fuel (April 6)
- Previously: Toyota Mirai coming to U.S. in October (May 6)
- Previously: 500K the talk in electric vehicle industry (May 8)
Wed, May 6, 8:29 AM
- The NHTSA is looking into a recall fix from Fiat Chrysler Automobiles (NYSE:FCAU) after receiving reports of fires occurring after the repairs were completed.
- The probe is tied to a large SUV recall by Fiat Chrysler in the U.S. earlier this year.
- Previously: Large SUV recall from Fiat Chrysler Automobiles.
Fri, May 1, 8:40 AM
- Fiat Chrysler Automobiles (NYSE:FCAU) set sales records with nine different models in April.
- Brand sales growth: Fiat -13% to 3,756; Chrysler +26% to 27,704; Jeep 20% to 71,759; Dodge -16% to 44,906; Ram +4 to 40,864; Alfa Romeo 38 (new).
- Model sales growth: Jeep Patriot +14% to 9,470; Jeep Wrangler +22% to 18,849; Jeep Cherokee +27% to 19,072; Chrysler 200 +348% to 18,850; Dodge Dart +42% to 8,571; Ram P/U +3% to 37,921; Chrysler Town & Country -61% to 5,053; Fiat 500 -18% to 2,498; Alfa Romeo 4C (new) 73.
- The automaker says it ended the month with 78 days supply of inventory vs. 73 days last month and 85 days in February
- Previously: Fiat Chrysler Automobiles April U.S. sales: +5.8%
Fri, May 1, 8:31 AM
Fri, May 1, 6:45 AM
- New car prices rose 2.6% Y/Y and 0.6% M/M during April in the U.S., according to Kelley Blue Book.
- The biggest year-over-year gain in pricing was seen by Hyundia (OTC:HYMLF) at 4.7%.
- Fiat Chrysler Automobiles (NYSE:FCAU) and Ford (NYSE:F) both saw a 3.3% increase on a higher sales mix of SUVs and larger pickup trucks.
- Volkswagen (OTCQX:VLKAY) was the only major automaker to see a drop in prices over the last year with a 0.9% slip.
Thu, Apr. 30, 11:08 AM
- A 25-page thesis from Fiat Chrysler Automobiles titled "Confessions of Capital Junkie" presents the case that automakers need to consider consolidating through mergers.
- The automobile industry is set up for failure unless costs from R&D and regulatory changes can be shared on a larger scale, according to the company.
- "Capital consumption rate by OEMs is unacceptable—it is duplicative, does not deliver real value to consumers and is pure economic waste," reads the presentation.
- There's even a slide with a quote from Alice in Wonderland to hammer home the automaker's main points on the need for M&A.
- Today, Ford CEO Mark Fields told CNBC the company isn't looking for a merger within the auto space. Similar comments have been made by execs with General Motors, Nissan, and Toyota in the recent past.
- FCA's industry analysis (.pdf)
- Automaker stocks: GM, F, TM, HMC, TSLA, OTCQX:VLKAY, OTCPK:DDAIF, OTC:HYMLF, OTCPK:BAMXY, OTCPK:MMTOF, TTM, OTCPK:SZKMY, OTCPK:FUJHY, OTCPK:GELYF, FCAU, OTCPK:NSANY, OTCPK:DDAIF, OTCPK:MZDAY, TSLA.
Wed, Apr. 29, 11:21 AM
- Fiat Chrysler Automobiles (NYSE:FCAU) reported strong results in North America during Q1.
- Revenue was up 38% Y/Y to $17.8B.
- Shipments rose 8.2% to 633K units on strength with the Jeep Renegade, Chrysler 200, and Ram 1500 models.
- Fiat Chrysler's market share in the U.S. was 12.5% in the U.S. and 16.4% in Canada.
- Adjusted EBIT +58.2% to $660M.
- The automaker's profit margin in the region improved 50 bps to 3.7%.
- Previously: Fiat Chrysler reports Q1 results
Wed, Apr. 29, 8:00 AM
Tue, Apr. 28, 5:30 PM
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Tue, Apr. 28, 1:21 PM
- Fiat Chrysler Automobiles (NYSE:FCAU) announces it opened a new facility in Brazil which becomes its largest ever.
- The plant will be used to manufacture the Jeep Renegade for export across Latin America and has the capacity to handle three separate model lines at once.
- 650 welding robots are part of the working force at the complex along with 9K employees of the human form from the company and its suppliers.
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