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Fiat Chrysler Automobiles NV (FCAU)

  • Sep. 11, 2014, 7:54 AM
    • Fiat (OTCPK:FIATY) CEO Sergio Marchionne backed the company's guidance during an event in Italy today.
    • The automaker has seen solid demand this year with shipments up 2% through Q2 and revenue 5% higher.
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  • Sep. 11, 2014, 6:18 AM
    • Continuing the crack down on foreign automakers in China, anti-monopoly regulators have fined a Chinese Volkswagen (OTCQX:VLKAY) joint venture $40.6M for fixing prices on vehicles and parts with dealers. A local arm of Fiat (OTCPK:FIATY) was also fined.
    • The probes from Chinese antitrust officials are part of a broader investigation taking place across many industries in the country. China's regulators say the recent investigations will widen market access for foreign firms and increase transparency.
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  • Sep. 11, 2014, 3:53 AM
    • Following Luca Cordero di Montezemolo departure as chairman of Ferrari, he will receive a combined severance package of €27M ($34.8M).
    • Fiat (OTCPK:FIATY) says Montezemolo will receive a lump sum of €13.3M by next February, in return for agreeing not to compete with Fiat until March 2017.
    • As of Oct. 13, CEO Sergio Marchionne will become Ferrari's new chairman, and will guide the unit within the newly created Fiat Chrysler Automobiles group.
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  • Sep. 10, 2014, 9:30 AM
    • Fiat (OTCPK:FIATY) CEO Sergio Marchionne will step in as the new chairman of Ferrari after Luca Cordero di Montezemolo was shown the door by the automaker.
    • Marchionne is believed to have ambitious plans for Ferrari within the soon-to-debut Fiat Chrysler Automotive.
    • Fiat owns close to 90% of Ferrari.
  • Sep. 10, 2014, 4:34 AM
    • Luca Cordero di Montezemolo will step down as chairman of Ferrari on Oct. 13 to be replaced by Fiat (OTCPK:FIATY) CEO Sergio Marchionne.
    • The resignation follows many disagreements between the two execs, centered around Ferrari's role within the Fiat group.
    • As Ferrari's chairman since 1991, Montezemolo had been stressing the need to keep Ferrari autonomous, while Marchionne looked to better integrate it within the group.
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  • Sep. 8, 2014, 8:33 AM
  • Sep. 4, 2014, 12:23 PM
    • Fiat Chrysler Automobiles (OTCPK:FIATY, FCAU) may list an additional $1.04B in stock on the NYSE after shares start trading later this year, according to analysts.
    • The company says it "learned a lot" from the liquidity problems of CNH Industrial which spun off from Fiat in 2011, prompting it to consider the stock offering.
    • The extra cash will also go to support Fiat's aggressive growth plans.
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  • Sep. 3, 2014, 12:58 PM
    • Maserati (OTCPK:FIATY) unit sales +268% Y/Y to 1,274.
    • YTD Maserati sales +312% led by stronger demand for the lower-priced for the Ghibli model ($66.9K entry).
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  • Sep. 3, 2014, 9:07 AM
    • Chrysler (OTCPK:FIATY) reports truck sales rose 28% to 155,627 units in August to help offset a 3% dip in car sales.
    • Brand sales growth: Fiat -20; Chrysler +4%; Jeep +49%; Dodge -6%; Ram +39%.
    • Model sales growth: Jeep Patriot +27% to 9,120; Jeep Wrangler +14% to 17,988; Jeep Grand Cherokee +1% to 18,235; Cherokee (new) 18,674; Dodge Caravan -10% to 11,257; Dodge Ram P/U +33% to 43,775.
    • The automaker says it ended the month with 64 days supply of inventory.
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  • Sep. 3, 2014, 8:26 AM
    • Chrysler's (OTCPK:FIATY) unit sales +20% to 198,379 units vs. the consensus estimate for a 12% increase.
    • Jeep brand sales skyrocketed 49% during the month.
    • Ram pickup trucks sales rose 33%.
    • Sales growth for the Chrysler brand was more modest at 4%, although the Town & Country minivan had its best month ever by volume.
  • Sep. 2, 2014, 3:03 AM
    • The European trade body in China has dismissed reports stating Beijing was planning to require foreign auto parts suppliers in the country to form local joint ventures.
    • The rumors surfaced as Chinese regulators cracked down on the country's auto industry, seeking to enforce a 2008 antitrust law.
    • Last month, China issued $201M in fines against 12 Japanese companies for manipulating prices, while many foreign automakers have lowered their spare parts prices to appease local regulators.
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  • Aug. 30, 2014, 6:15 PM
    • Fiat Chrysler Automobiles has a target date of October 13 for its NYSE launch, according to Fiat (OTCPK:FIATY) CEO Sergio Marchionne.
    • major merger hurdle was cleared this week by Fiat to help keep the reorganization on track.
    • Paying for Fiat's five-year, €48B ($64B) growth plan could be a challenge. Marchionne says a decision on a capital increase will be made in October after the new FCA shares are trading hands.
    • What to watch: Chrysler has had strong sales in the U.S. this year and is tipped by Kelley Blue Book to show double-digit growth for August. Automobile industry analysts think the NYSE listing could provide another jolt for the brand and help reinforce the trend of the Big Three (GM, F) out-performing some foreign automakers (Volvo, Volkswagen, Hyundai) unable to compete at scale.
  • Aug. 29, 2014, 10:27 AM
  • Aug. 29, 2014, 4:27 AM
    • Fiat (OTCPK:FIATY) says it has cleared a road block for its planned reorganization, as the pay off of dissenting shareholders who were allowed to tender their shares will likely not exceed the €500M ($658.3M) set aside for the merger.
    • The reorganization will create Fiat Chrysler Automobiles, a new company with headquarters in Amsterdam, domiciled in the U.K. for tax purposes and a primary stock market listing in New York.
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  • Aug. 28, 2014, 9:42 AM
    • Kelley Blue Book forecasts U.S. auto sales will fall 1% in August to 1.49M units.
    • The decline is attributable to a difference in selling days during the period compared to last August.
    • All segments are expected to see lower sales totals except for compact SUV/crossover which is tapped for a 6.2% gain.
    • KBB sales forecast by manufacturer: General Motors (NYSE:GM) -1.0% to 273K; Toyota (NYSE:TM) -4.6% to 221K; Ford (NYSE:F) -1.5% to 217K; Chrysler (OTCPK:FIATY) +11.1% to 184K; Honda (NYSE:HMC) -8.1% to 153K; Nissan (OTCPK:NSANY) +1.2% to 122K; Hyundai (OTC:HYMLF) -1% to 117K; Volkswagen (OTCQX:VLKAY) -11.6% to 51K.
  • Aug. 26, 2014, 6:52 AM
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