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Fiat Chrysler Automobiles NV (FCAU)

  • Jun. 6, 2014, 2:28 AM
    • Chrysler (FIATY) recalls 10,700 SUVs to fix a malfunction with unintended acceleration during cruise-control.
    • More than half of the vehicles are still sitting on dealer lots, or are in transit to dealers.
    • The company has had over five recalls since January, recalling over 1.7M vehicles.
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  • Jun. 3, 2014, 2:53 PM
    • Auto sales in the U.S. got a late boost over the Memorial Day weekend to push the new car sales tally for May to close to 1.6M units.
    • The top seven automakers all beat analyst expectations as consumers were more active than anticipated.
    • General Motors (GM) shook off any worries that the incessant recall news would cut into demand to set a seven-year high for the month, while Subaru (FUJHY) and Toyota (TM) carved out some more market share.
    • Daimler (DDAIF) and Volkswagen (VLKAY) lost ground during the month.
    • Kelley Blue Book reports new car prices in the U.S. rose 2.1% Y/Y to an average transaction price of $32,307. Chrysler (FIATY) led the way with a 4.8% jump.
  • Jun. 3, 2014, 8:31 AM
    • Chrysler (FIATY) reports truck sales in the U.S. rose 38% in May to help offset a 27% drop in car sales.
    • Sales by model: Jeep Wrangler +18% to 19,235; Jeep Patriot +24% to 8,242; Grand Cherokee +13% to 18,068; Chrysler Town & Country +37% to 14,799; Ram P/U +17% to 37,131.
    • The automaker finished the month with 69 days of supply at 494,482 units - compared to 74 days supply a month ago.
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  • Jun. 3, 2014, 8:19 AM
    • Chrysler's (FIATY) unit sales +17.0% to 194K vs. the consensus estimate of analysts for a 14.0% increase.
    • Sales for the Jeep brand were up 58% Y/Y during the month as new model introductions continued to resonate with consumers.
    • The Ram brand saw a steady sales increase of 17%.
    • The automaker expects an annualized sales pace of 16.9M units for the industry.
  • Jun. 2, 2014, 10:58 AM
    • The NHTSA plans to investigate Chrysler (FIATY) for its handling of a recall tied to faulty airbags after receiving complaints from consumers that fixes from the automaker didn't solve the issue.
    • The recall of Jeep Liberty and Grand Cherokee SUVs dates back to 2012.
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  • May 29, 2014, 8:19 AM
    • Consumer Reports says fuel economy tests on the Honda Accord hybrid indicate the model failed to deliver the 47 mpg posted on the window sticker on dealer lots.
    • Testing by CR found a combined highway and city rating of 40 mpg for the Accord hybrid, a bit below the rating of the Toyota Prius hybrid.
    • The bigger picture: Consumer Reports has found several cases of hybrids falling short of the posted fuel economy rating. Recent reviews have also suggested that some hybrid models aren't riding smoothly or handling well under duress.
    • Related stocks: HMC, TM, FUJHY, BAMXY, FIATY
  • May 28, 2014, 9:25 AM
    • The May sales forecast from contains an interesting tidbit on which automakers have picked up the most market share in the U.S. over the last year.
    • While Ford (15.9%), Toyota (14.2%), and General Motors (17%) are all projected to claim a lower share than a year ago, has Chrysler (FIATY) picking up 80 bps to a 12.4% share.
    • It also appears sleeper Subaru (FUJHY) is continuing to come on strong.
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  • May 28, 2014, 7:05 AM
    • Kelley Blue Book forecasts a 6.7% gain in new vehicle sales to 1.54M units in May.
    • The compact SUV/crossover segment is expected to show the strongest pace of growth with a 11.9% increase, while KBB sees the mid-size segment lagging with a 2.5% rise.
    • Sales growth forecast by manufacturer: Nissan (NSANY) +13.6%; Chrysler (FIATY) +12.8%; General Motors (GM) +7.2%; Toyota (TM) +5.8%; Hyundai (HYMLF) +3.6%; Honda (HMC) +2.1%; Volkswagen (VLKAY) +1.1%, Ford (F) +0.4%.
  • May 27, 2014, 9:18 AM
    • Fiat (FIATY) CEO Sergio Marchionne is confident the automaker can hit the targets presented in a five-plan earlier this year.
    • The company raised some eyebrows by throwing out a sales growth plan to hit 7M in annual units delivered by 2018.
    • Shares of Fiat have fallen back in European trading since the plan was presented on some concerns the company is reaching too far.
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  • May 26, 2014, 9:52 AM
    • Ford (F) CEO Alan Mulally has warned about overproduction in Europe, saying that factory closures over the past year have not lowered capacity enough.
    • "European carmakers need to cut back excess capacity on the continent remains at dangerous levels," Mulally says.
    • His warning comes despite sales on the continent starting to recover this year after falling by about 4M cars from 2007-2013.
    • Relevant tickers: TM, RNSDF, VLKAF, GM, DDAIF, BAMXF, FIATY, HMC, PEUGF, F
  • May 23, 2014, 1:34 PM
    • The NHTSA is investigating older Dodge Ram pickups to see if there any defects with ignition switches.
    • Close to 115K Ram 2500 and 3500 trucks from model years 2004 to 2006 are part of the probe.
    • Chrysler (FIATY) says it's cooperating fully with regulators.
    • What to watch: The focus on safety issues with ignition switches could steer the industry toward wide-scale adoption of push-button starters. That development in turn could impact Delphi Automotive (DLPH +2.7%).
  • May 21, 2014, 6:53 PM
    • Harry Wilson, who helped lead the White House’s auto task force during the General Motors (GM) and Chrysler bankruptcies, called GM’s recall crisis "emblematic” of deeper cultural problems at the company.
    • Wilson told a Brookings Institute panel that the nearly-decade long delay in recalling 2.6M cars smacks of a penny-wise culture “driven by a company living on the brink of disaster for many years.”
    • While GM is trying to reverse that culture, it still suffers from lack of communication and sharing information, he said - “a problem with GM for decades that [CEO Mary Barra] needs to fix.”
    • Fiat Chrysler (FIATY) CEO Sergio Marchionne told the panel it was unfair that the government helped GM emerge from bankruptcy with lots of cash and little debt while Chrysler had to take new loans, but that Chrysler’s debt burden was a motivating factor that could have helped speed a change in GM's corporate culture - “When you are broke, you change your ways a lot faster.”
  • May 16, 2014, 8:13 AM
    • European car registrations increased 4.6% in April, according to the European Automobile Manufacturers Association.
    • The U.K. showed strong growth with a 8.2% gain, while registrations in Germany fell back 3.6%. Registration in Spain soared 29% off of a soft-as-butter comparable.
    • Brand growth: Volkswagen (VLKAY) +4.4% to 287.9K; PSA Group (PEUGY) +5.2% to 122.2K; Renault (RNSDF) +16.1% to 107.6K; General Motors (GM) -5.2% to 75K; Ford (F) +9.1% to 82.7K; Fiat/Chrysler (FIATY) +1.8% to 68.1K; BMW (BAMXY) +0.5% to 64.2K; Daimler (DDAIF) +0.5% to 60.9K; Toyota (TM) +4.8% to 43.1K; Nissan (NSANY) +22.1% to 36.6K.
    • ACEA data (.pdf)
  • May 13, 2014, 10:02 AM
    • Fiat (FIATY) says its new A-segment vehicle planned for Brazil will replace the Uno Mille nameplate in the region.
    • The same vehicle will also be a major focus for Fiat in India in 2015.
    • The A-segment, also known as mini-cars, has seen demand held up better in Latin America and India than other segments.
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  • May 9, 2014, 5:10 PM
    • Chrysler (FIATY) says it is recalling 780K minivans to replace power window switches that can short-circuit and overheat or catch fire if moisture comes in contact with them.
    • The company says there are no reports of accidents or injuries related to the issue, but has reports of 36 incidents of overheating and an undisclosed number of fires.
    • Affected minivans are Dodge Grand Caravan and Chrysler Town & Country minivans from model years 2010-14 with power window vents for passengers in the third row of seats.
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  • May 9, 2014, 7:03 AM
    • Fiat Chrysler Automobiles is set to be based in London when Fiat (OTCPK:FIATY) and Chrysler complete the merger of their operations, CEO Sergio Marchionne says.
    • The U.K. capital represents something of a compromise between Michigan, where Chrysler is located, and Fiat's home country of Italy.
    • And as Pfizer is well aware, the U.K. offers attractive tax benefits.
    • Fiat will still keep manufacturing operations in Italy, and it plans to increase output of its Maserati and Alfa Romeo cars in the country. The company's main listing will be in New York.
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