Fiat S.p.A. Torino is the holding company of the Fiat Group. Through its subsidiaries, Co. is engaged principally in the manufacture and sale of automobiles, commercial vehicles and agricultural and construction equipment. Co. is organized into operating sectors, divided in the two major... More
Tuesday, Nov 192:49 AMEuropean car sales continue recovery
Tuesday, Nov 192:49 AM| 1 Comment
- European car sales rose for a second month in a row in October, climbing 4.6% on year to 1.04M registrations after a 5.5% gain in September.
- However, registrations fell 3.1% in January-October, strengthening the likelihood that the market will fall for a sixth consecutive year in 2013.
- The Spanish car market jumped 34.4%, while most other markets grew moderately, although Italy fell 5.6%.
- Toyota (TM) +16.5%, Renault (RNSDF) +14%, Volkswagen (VLKAF) +5.7%, General Motors (GM) +6.2%, Daimler's (DDAIF) Mercedes-Benz +8.5%, and BMW (BAMXF) +0.3%.
- However, Fiat (FIATY) -7.3%, Honda (HMC) -6.4%, Peugeot (PEUGF) -0.7% and Ford (F) -0.2%. (PR)
Monday, Nov 111:14 PM
Monday, Nov 43:11 PMThe ultra-wealthy just fine rolling around in Model S EVs and Grand Cherokees|Monday, Nov 43:11 PM| 23 Comments
Monday, Nov 49:17 AMThe return of the Dodge Durango
Monday, Nov 49:17 AM| Comment!
- The Dodge Durango was a solid out-performer for Chrysler (FIATY) in October with sales jumping 59% amid a large marketing campaign featuring Will Ferrell as cinematic anchorman Ron Burgundy.
- The automaker hasn't sold over 100K units of the SUV since 2005, but that streak could end if momentum sustains.
- Well-received TV spots along with solid reviews have put the Durango in a better position to take market share than in years past.
Friday, Nov 18:22 AMDemand strong for Chrysler pickups and vans
Friday, Nov 18:22 AM| Comment!
- Chrysler (FIATY) reports sales of Ram pickup trucks rose 18% in October to extend a streak of monthly year-over-years sales gain in the category to 42 months. During the month, even the Ram Cargo Van chipped in by more than doubling sales compared to a year ago.
- Big was in for the automaker. Sales rose 20% to 14,623 for the Jeep Grand Cherokee and 28% to 10,562 for the Chrysler Town & Country.
- Chrysler finished the month with an 86 days supply of inventory.
Friday, Nov 18:13 AMChrysler October U.S. Sales|Friday, Nov 18:13 AM| Comment!
Thursday, Oct 311:32 PMAutomobile heavyweights all gunning for huge Q4
Thursday, Oct 311:32 PM| 2 Comments
- WardsAuto pushes aside worries on capacity constraints to forecast Q4 car production in North America will reach a 14-year high of 4.02M units.
- The automobile industry publication thinks Honda (HMC -0.4%), Nissan (NSANY -2.7%), and Toyota (TM -0.4%) will all set Q4 production records.
- The forecast for the Big Three is just as promising. WardsAuto taps Ford (F -0.9%) to see its best Q4 N.A. production run since 2005, Chrysler's (FIATY) its highest tally since 2006, and General Motors (GM +0.6%) to top output for every year since 2007.
- Related ETFs: CARZ
Tuesday, Oct 298:28 AMFiat working to bring Jeep brand to China
Tuesday, Oct 298:28 AM| 1 Comment
- Fiat (FIATY) says it's close to finishing off a deal in China that will help it finally sell the Jeep Cherokee model in the nation.
- The automaker plans to partner with Guangzhou Automobile Group to make the late entry into the SUV segment in China.
- Some auto industry analysts are skeptical with the Jeep brand lacking the punch it has in other global markets.
Tuesday, Oct 297:36 AMChrysler amends IPO filing
Tuesday, Oct 297:36 AM| Comment!
- Chrysler (FIATY) amended its IPO filing to change the characterization that its history of product introductions have always been "successful" and to highlight some of the conflicts it has had with Fiat.
- At last report, the IPO is still on track with the UAW retiree healthcare trust that owns 41.5% of Chrysler wanting close to a billion dollars more than what Fiat wants to pay for the stake.
Thursday, Oct 241:48 PMStates line up to support EV industry
Thursday, Oct 241:48 PM| 4 Comments
- A coalition of states, including California and New York, say they will work toward a goal of boosting sales of electric vehicles in the U.S. in order to lower overall emissions from the automobile industry.
- The states want to adopt measure to promote the building of more charging stations with similarities across borders.
- Automakers (F, GM, TM, HMC, NSANY, FIATY) could use the help with EV sales still well-below targets despite major price incentives.
Monday, Oct 217:23 AMBooming auto sales could lead to parts shortage
Monday, Oct 217:23 AM| 5 Comments
- A new survey of automobile suppliers indicates if U.S. car production reaches an annual selling rate of 16M units it's possible the industry could see some spot shortages.
- Though the production issues could affect Ford (F) and General Motors (GM), it's Chrysler (FIATY) that appears to be the automaker most at risk.
Thursday, Oct 179:38 AMFiat leans on the UAW for Chrysler sale
Thursday, Oct 179:38 AM| Comment!
- Fiat (FIATY.PK) plans to urge the UAW to help it convince a UAW retiree healthcare fund to unload its 41.5% stake in Chrysler at what it considers a reasonable price.
- The company thinks a merger between Chrysler and Fiat is a better option than a partial IPO, but hasn't been able to strike a deal price with the health care fund which is tempted by the valuation an open market might bring.
Thursday, Oct 178:27 AMBuyers and sellers of ZEV credits in California
Thursday, Oct 178:27 AM| 26 Comments
- Tesla Motors (TSLA) transferred 1,311.52 ZEV credits in California for the fiscal year ending September 30, according to data released by the California Air Resources Board.
- The automaker scored close to 30X more credits than second-place Suzuki (SZKMY.PK).
- Chrysler (FIATY.PK), General Motors (GM), and Volkswagen (VLKAY.PK) were net buyers of ZEV credits in the state during the period in order to stay in compliance.
Wednesday, Oct 166:59 AMAutomakers nervously watch events in Washington
Wednesday, Oct 166:59 AM| 4 Comments
- Automobile executives press politicians to reopen the government as they ponder the impact of the stalemate on U.S. consumers,
- Ford (F) spokesperson Erich Merkle says the automaker hasn't seen a sales slowdown in the U.S. attributable to the government shutdown yet, while Chrysler (FIATY.PK) acknowledges only a minimal impact.
- Yesterday, Hyundai's (HYMLF.PK) CEO created a stir when he predicted U.S. auto sales could drop by as much as 10% due to the squabbling in Washington DC.
- Most automobile analysts think if the budget impasses stretches into next week that demand will be clipped noticably.
- Related stocks: GM, VLKAY.PK, HMC, TM, NSANY.OB
Wednesday, Oct 163:50 AMEuropean car sales return to growth
Wednesday, Oct 163:50 AM| 1 Comment
- European new-car sales increased at the fastest rate in over two years in September, climbing 5.5% on year to 1.19M vehicles after dropping 4.9% in August.
- In January-September, sales fell 3.9% to 9.34M cars.
- Last month's figures were boosted by the end of the eurozone recession, price cutting, and a Spanish government-incentive scheme that helped demand jump 29%.
- "Car sales in the EU are showing signs of improvement, indicating that the worst is behind us," says Ernst & Young's Peter Fuss. "The sales, however, continue to be artificially boosted by huge discounts and self-registrations by dealers.
- Registrations in the U.K. rose 12% and 3.4% in France, but dropped 1.2% in Germany and 2.9% in Italy.
- GM's (GM) sales +5.4%, Ford (F) +5%. (PR)
- Related tickers: PEUGF.PK, HMC, FIATY.PK, TM, VLKAF.PK, BAMXF.PK, DDAIF.PK, RNSDF.PK.
Tuesday, Oct 157:08 AMPutting a number to Chrysler's value
Tuesday, Oct 157:08 AM| Comment!
- A federal filing indicates that the union healthcare fund holding a 41.5% stake in Chrysler (FIATY.PK) valued the position at $3.6B at the end of last year.
- The disclose gives negotiators a good starting point in their effort to work out a deal to divest the position and avoid a partial Chrysler IPO.
- The total value of Chrysler would be close to $8.7B based an extrapolation of the estimate.