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
Thursday, Aug 13:51 PMJuly U.S. auto sales wrapup
Thursday, Aug 13:51 PM| 3 Comments
- Double-digit gains were the norm for July with the Big Three (GM, F, FIATY.PK) posting a big month and a pair of Japanese automakers - Subaru (FUJHY.PK) and Honda (HMC) - topping the 20% sales growth mark. Toyota (TM) recorded a strong enough month to pass Ford in deliveries for the first time in several years per Autodata.
- Despite some analysts thinking U.S. consumers would deliver a few more sales, strong retail traffic and a controlled level of inventory in a soft spot for new model introductions sets up very well for the rest of H2.
- Under the hood, it was strong demand for trucks which set the tone for the month.
Thursday, Aug 18:58 AMChrysler-Fiat merger plans downshift
Thursday, Aug 18:58 AM| Comment!
- A plan to combine Fiat (FIATY.PK) and Chrysler hits a stumbling block after a judge rejects a proposal to valuate shares held by the UAW retiree's trust which need to be sold in order for a merger to fly.
- Grandiose plans over listing Chrysler on the NYSE, Nasdaq, or possibly even in the Netherlands might be delayed longer than expected if the case goes all the way to trial.
Thursday, Aug 18:13 AMChrysler July U.S. sales
Thursday, Aug 18:13 AM| Comment!
- Chrysler's (FIATY.PK) unit sales +11% to 140,102, compared to estimates for a 9% rise.
- The Ram truck brand sold 31% more vehicles during the month than a year ago led by its namesake model.
- Dodge brand sales were up 18% with the Avenger and Challenger hot sellers.
- Jeep brand sales rose 2%, with 15,019 Grand Cherokees being sold and 14,404 Wranglers.
Tuesday, Jul 3012:56 PMDid one phone call help Chrysler save over $100M?
Tuesday, Jul 3012:56 PM| Comment!
- Chrysler's (FIATY.PK) refusal to comply with a NHTSA recall drew a lot of notice when it ended a long era of automakers backing away from a direct confrontation with regulators in public.
- According to reports, a phone call in June between CEO Sergio Marchionne and NHTSA officials helped convince the agency to reduce the number of recalled vehicles from 2.7M Jeep SUVs to 1.56M.
- Pro-rating what Chrysler reported today to be its recall cost by the reduced number of vehicles indicates the negotiating tactic might have saved the automaker $109M.
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Tuesday, Jul 307:06 AMChrysler hits late speed bump with new Jeep Cherokee|Tuesday, Jul 307:06 AM| Comment!
Sunday, Jul 282:50 PMLew quashes thoughts of Detroit bailout
Sunday, Jul 282:50 PM| 8 Comments
- "Detroit’s economic problems have been a long time in developing. We stand with Detroit trying to work through how it approaches these issues… I think Detroit’s going to have to work with its creditors on this." - Treasury Secretary Jacob Lew, on ABC’s This Week
- SC Sen. Lindsey Graham has tweeted against a federal bailout. And on Thursday, Texas Sen. John Cornyn filed an amendment that would ban the federal government from bailing out financially troubled cities. Meanwhile, the AFL-CIO has called for the federal government to infuse Motown with cash.
- Muni ETFs: MUB, MUNI, PVI, PZA, SHM, TFI, VRD, HYD, ITM, MLN, PRB, SMB, SUB, GMMB, SMMU
- Detroit carmakers: F, GM, FIATY.PK
Friday, Jul 2612:50 PMWhat to expect from July U.S. auto sales: 1) The month should confirm that 2013 will be a strong year for sales in the industry, although expecting a double-digit pace of growth for the year may be a reach. 2) Kelley Blue Book sees a seasonally adjusted annual rate of 15.8 units in July, up 13% from last year but lower than last month's mark. 3) The Big Three (GM, F, FIATY.PK) could all benefit with new model introductions out that have narrowed some of the perceived gaps on quality and gas mileage. |Friday, Jul 2612:50 PM| 4 Comments
Tuesday, Jul 2312:17 PMFiat-Chrysler (FIATY.PK +1.3%) - once it finally happens - could be registered in the Netherlands, says CEO Sergio Marchionne, as sister company Fiat Industrial (FNDSF.PK) is in the process of moving there. Fiat awaits a court ruling before it moves forward with the purchase of the 41.5% of Chrysler still owned by VEBA. Marchionne expects a decision this month. |Tuesday, Jul 2312:17 PM| Comment!
Tuesday, Jul 163:17 AMEuropean car sales dropped to the lowest levels since 1993 in H1, sliding 6.7% to 6.44M, the European Automobile Manufacturers' Association said, as the economic slump continued to bite. June registrations tumbled 6.3% to 1.18M, the lowest for the month since 1996. Sales in four of Europe's biggest automotive markets contracted in June, although the U.K. grew 13%. Manufacturer June breakdown: GM (GM) -9.9%, Ford (F) +6.9%, Volkswagen (VLKPF.PK) -4.4%, Daimler (DDAIF.PK) +0.6%, Peugeot (PEUGF.PK) -11%, Renault (RNSDF.PK) +0.9%, Fiat (FIATY.PK) -14%. (PR) |Tuesday, Jul 163:17 AM| 7 Comments
Wednesday, Jul 108:58 AM
Monday, Jul 87:02 AMFiat (FIATY.PK) exercises an option to raise its stake in Chrysler by 3.3% to 68.49% of the automaker. In order to gain full control of Chrysler and plan an IPO in the U.S., Fiat first needs to work out a deal price to purchase shares from a medical-benefits trust for Chrysler's retirees. |Monday, Jul 87:02 AM| Comment!
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Friday, Jul 58:22 AMFiat (FIATY.PK) won't put a number to sales of the 500L in Europe in what could be a sign that rosy estimates for the new "small-wide" vehicle will disappoint. The model will also be sold in the U.S., although many automobile analysts see it remaining a novelty buy and not a game-changer across the pond from Europe. |Friday, Jul 58:22 AM| Comment!
Wednesday, Jul 37:36 AMAfter putting in a robust first half of the year, automobile sales will head even higher during the second half, forecasts Automotive News' Jesse Snyder. A fresh slate of new models and the ongoing boom in demand for pickup trucks will help bring in eager buyers for automakers. The Big Three (GM, F, FIATY.PK) in particular look set up to take advantage of positive industry fundamentals to keep up their trend of taking U.S. market share from Japanese automakers (NSANY.OB, TM, HMC, MZDAY.PK, SZKMY.PK). |Wednesday, Jul 37:36 AM| 3 Comments