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Fiat Chrysler Automobiles NV (FCAU)

  • Nov. 27, 2014, 3:10 AM
    • The NHTSA has given Takata (OTCPK:TKTDY) until Tuesday to declare that its air bag inflators are defective and issue a recall. If it does not comply, the NHTSA could begin steps to fine the Japanese air bag supplier up to $7K per vehicle and could force a recall.
    • Takata has so far resisted the U.S. regulator's call to broaden its recall, which is currently limited to a few high-humidity states and territories where initial reports of air-bag ruptures have occurred.
    • Stepping up its recalls today, Toyota (NYSE:TM) has announced that it would replace Takata air bags in 57,000 vehicles, and its subsidiary, Daihatsu (OTCPK:DHTMY), would recall 27,571 Mira minivehicles for the same reason.
    • Yesterday, the NHTSA demanded that Chrysler (NYSE:FCAU) expand its Takata recall nationwide and begin notifying customers of the new campaign by Monday.
    • Previously: Takata air bag crisis continues
    • Previously: U.S. calls for national recall of defective Takata air bags
    • Previously: Takata gets hit with U.S. criminal probe
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  • Nov. 24, 2014, 3:19 PM
    • projects U.S. auto sales will rise 1.6% to 1.261M units in November.
    • Projected sales volume growth by automaker: General Motors (NYSE:GM) +0.6% to 213.42K, Ford (NYSE:F) -1.4% to 186.98K, Toyota (NYSE:TM) +1.6% to 180.88K, Chrysler Automobiles Group (NYSE:FCAU) +14.9% to 163.49K, Honda (NYSE:HMC) +1.1% to 117.76K, Nissan (OTCPK:NSANY) -8.5% to 97.46K, Hyundai (OTC:HYMLF) -6.6% to 94.77K, Volkswagen (OTCQX:VLKAY) +4.2% to 46.24K.
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  • Nov. 18, 2014, 6:19 PM
  • Nov. 18, 2014, 7:38 AM
    • Fiat Chrysler Automobiles (NYSE:FCAU) car registrations +8.4% to 65,377 units in October, according to the European Automobile Manufacturers Association.
    • YTD registrations +3.1% to 653,809 units.
    • Market share: 5.9% in October, 5.9% YTD.
    • Results include the Fiat, Lancia, Chrysler, Jeep, and Alfa Romeo brands.
    • EAMA release (.pdf)
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  • Nov. 15, 2014, 3:44 PM
    • Judge J. Kevin Chason of the Superior Court of Decatur County, GA, has ordered Fiat Chrysler (NYSE:FCAU) CEO to make a videotaped, under-oath deposition.
    • Fiat Chrysler had requested its CEO be excluded from testimony.
    • The lawsuit alleges Mr. Marchionne, as CEO of the company, knew of a design flaw in the Jeeps that causes its fuel-tank to erupt when struck, but failed “to warn the American people about the danger of these fuel tanks.”
    • Source: WSJ
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  • Nov. 13, 2014, 10:52 AM
    • Fiat Chrysler Automobiles (NYSE:FCAU) is named the top pick in the automobile sector by Morgan Stanley.
    • Analyst Adam Jonas sees upside for shareholders through their holdings in Ferrari after its spinoff.
    • A potential push by Ferrari into luxury consumer goods is highlighted by Jonas.
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  • Nov. 12, 2014, 10:06 AM
  • Nov. 11, 2014, 10:31 AM
    • Fiat Chrysler Automobiles (FCAU +1.9%) says an IPO for Ferrari is likely to occur in Q2 or Q3 of 2015.
    • A 10% stake of Ferrari will be sold to new investors, while Fiat shareholders will hold the rest after a spinoff.
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  • Nov. 3, 2014, 2:40 PM
    • Maserati (NYSE:FCAU) unit sales +258% to 1,227.
    • The brand has now recorded 21 straight months of sales gains in the region.
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  • Nov. 3, 2014, 8:46 AM
    • Chrysler Fiat Automobiles (NYSE:FCAU) announces it recorded its best October since 2001 in the U.S. for brands operating within Chrysler Group.
    • Brand sales growth: Fiat +1% to 3,725; Chrysler +17% to 27,456; Jeep +52% to 55,198; Dodge -8% to 41,512; Ram +36% to 42,499.
    • The automaker says it ended the month with 84 days supply of inventory vs. 71 days last month.
    • Previously: Chrysler Group October U.S. sales
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  • Nov. 3, 2014, 8:16 AM
    • Chrysler Fiat Automobiles (NYSE:FCAU) unit sales +22% to 170,480 units vs. +20% consensus estimate.
    • Jeep brand sales soared 52% Y/Y.
    • Several Dodge models sold well during the month after a recharged marketing campaign.
    • Truck sales increased 30% during the month to 131,328, while car sales fell 15% to 39,152.
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  • Oct. 30, 2014, 10:31 AM
    • Fiat Chrysler Automobiles (NYSE:FCAU) recalls 33.4K Chrysler vehicles in the U.S. to address a concern with tire pressure.
    • Separate recall actions from the automaker covered 23.1K Ram ProMaster and a mix of 10.9K (Jeep Wrangler/Dodge Grand Caravan/Chrysler Town & Country minivans) other vehicles.
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  • Oct. 30, 2014, 7:55 AM
    • Fiat Chrysler Automobiles (NYSE:FCAU) plans to issue a $2.5B convertible bond and offer $100M worth of shares to help fund its aggressive growth plans.
    • Shareholders opting in now for the convertible offering will receive shares in Ferrari as part of the transaction.
    • "Today is a big clean-up day," says CEO Sergio Marchionne about the flurry of moves.
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  • Oct. 29, 2014, 10:56 AM
    • Fiat Chrysler Automobiles (FCAU +11.4%) says it will spin off the Ferrari brand into a separate company.
    • A public offering of 10% of the shares in Ferrari is also planned for next year.
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  • Oct. 29, 2014, 9:35 AM
    • Chrysler (NYSE:FCAU) recalls 381,876 Ram trucks to address an issue with diesel engines which could lead to a fire.
    • Models covered by the recall action include 2010-2014 Ram 2500 and 3500 pickups, as well as some 4500 and 5500 vehicles.
    • NHTSA notice
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  • Oct. 28, 2014, 9:46 AM
    • Fiat Chrysler Automotive (NYSE:FCAU) says its highest-ranking quality exec, Doug Betts, has left the company to pursue other interests.
    • Insider Matthew Liddane was tapped by the automaker to fill the position.
    • Earlier this week, Fiat Chrysler brands rated poorly on a study of reliability conducted by Consumer Reports.
    • Consumer Reports: "Fiat-Chrysler sits at the bottom of the pack, with four of its brands—Dodge, Ram, Jeep, and Fiat—sweeping our least-reliable rankings."
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