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
Monday, Jan 139:06 AM|Monday, Jan 139:06 AM| Comment!
Sunday, Jan 126:50 AM
Sunday, Jan 126:50 AM| 39 Comments
- GM (GM) is set to unveil its new GMC Canyon later today, ahead of the official opening of Detroit Auto Show tomorrow.
- GM hopes that the redesigned vehicle, which is due to go on sale in Q3 along with the new Chevrolet Colorado, will pull sales from Ford's (F) F-150, Chrysler's (FIATY) Ram 1500 and Toyota's (TM) Tacoma, the market leader.
- GM acknowledged that the Canyon could also take minimal sales away from the company's larger Chevrolet Silverado, although execs aren't worried.
- GM abandoned the mid-sized segment in 2012 due to waning popularity. However, sales of mid-sized pick-ups are forecast to grow by more than a third, research firm LMC Automotive has estimated.
Friday, Jan 101:53 PM
Friday, Jan 101:53 PM| Comment!
- Chrysler (FIATY) looks like it plans to make good on its promise to expand its Jeep SUV brand globally as a leaked document obtained by the WSJ notes a "Sterling Heights South" location for production of around 130K Jeeps a year.
- The reference sounds suspiciously like a plan to expand a Detroit-region Chrysler plant.
Friday, Jan 109:26 AM
Friday, Jan 109:26 AM| 11 Comments
- The intersection of technology and the automobile industry was on full display this week at the Consumer Electronics Show where a record number of automakers presented.
- Though the sneak peek at the new gadgetry and the evolution of on-board systems was quite impressive, there's a bit of backlash building on privacy issues.
- As more mobile devices connect to cars, and Google's Open Automototive Alliance and GM's OnStar system evolve, hyper-local marketing could take off. It's a gray area with few legal precedents, note privacy advocates.
- A Ford exec probably got a little too fired up at CES earlier this week with this comment: "We know everyone who breaks the law, we know when you're doing it. We have GPS in your car, so we know what you're doing."
- Related stocks: GM, F, TM, FIATY, HMC, NSANY, TSLA, VLKAY, DDAIF, HYMLF, BAMXY, TTM, FUJHY.
Friday, Jan 107:06 AM
Friday, Jan 107:06 AM| Comment!
- Fiat (FIATY) eyes issuing a convertible bond to help boost its liquidity after striking a deal to buy Chrysler.
- CEO Sergio Marchionne thinks a convertible bond is the right strategy as a capital hike would prove "destructive" to the company.
- Reports in Italian media peg the proposed bond size at €1.5B ($2.04B).
Wednesday, Jan 88:08 AM|Wednesday, Jan 88:08 AM| 1 Comment
Monday, Jan 612:22 PM
Monday, Jan 612:22 PM| 1 Comment
- The rapid evolution of Internet-connected cars is expected to be a major theme at 2014 Consumer Electronics Show this year. Mercedes (DDAIF), Audi (VLKAY), Ford (F), BMW (BAMXY), and Chrysler (FIATY) will all showcase new services which enable consumers to link mobile devices to their cars.
- Priceline.com (PCLN +0.2%) has a new partnership with General Motors (GM +1.5%) that will see the company's hotel booking service become available within the new Chevrolet AppShop. Watch for a great deal of talk on how the automaker's OnStar system fits into the evolution of infotainment systems in the industry with heavyweight Google and others quite active in the field.
- Other highlights from automakers include a closer look at BMW's all-electric i3 and Ford's highly anticipated C-Max Solar Energi.
- Though demonstrations of self-driving cars will be a crowd pleaser, the nascent technology doesn't threaten to disrupt the market for a few more years at least. (Related: Google, you can drive my car).
Monday, Jan 68:26 AM
Monday, Jan 68:26 AM| Comment!
- China wants Chrysler (FIATY) to do more to make its Jeep Wrangler vehicles safe after determining the model has a risk of catching fire.
- The automaker has a long history of problems with the Jeep Wrangler in China, but the issue takes on more importance with it preparing to mass produce Jeep vehicles locally.
Monday, Jan 67:53 AM
Monday, Jan 67:53 AM| Comment!
- Car sales in Europe are forecast to increase 2.5%-3% in 2014 as demand stabilizes in the region, according to a round of new forecasts.
- Though discounts are expected to taper off during the course of the year, automakers selling in Europe will still face some pricing pressure and are burdened with too much capacity. Last year, sales came in almost 25% lower than the industry-high seen in 2007.
- Related stocks: Fiat (FIATY), Renault (RNSDF), Volkswagen (VLKAY), Peugeot (PEUGY).
Friday, Jan 31:30 PM
Friday, Jan 31:30 PM| 1 Comment
- The automobile industry averaged promotional incentives of $2,676 last month in the U.S., just slightly higher than November's level but an increase of 4.0% from last year.
- Ford (F +0.7%) pushed the promotional lever the hardest of the major automakers, increasing incentives on average by 21.7% over the last year to $3,346 - although the automaker still fell well-short of General Motor's (GM -3%) average December incentive of $3,657.
- Chrysler (FIATY) trimmed incentives by 9.4% over the last year to average $2,954.
Friday, Jan 310:01 AM
Friday, Jan 310:01 AM| Comment!
- Chrysler (FIATY), Hyundai (HYMLF), Ford (F), and General Motors (GM) have all missed analyst estimates with their December U.S. sales marks.
- There isn't a great deal of panic amongst industry watchers as most are buying into the excuse of the negative impact on dealership traffic of widespread winter storms.
- Trucks and utilities sold well during the month, but consumers didn't show a lot of demand for passenger cars.
Friday, Jan 38:18 AM
Friday, Jan 38:18 AM| Comment!
- Chrysler (FIATY) saw both Jeep and Ram Truck post double-digit gains during December as the automaker ended the year with a 9% increase in sales.
- The new Cherokee mid-size SUV recorded sales of 15,038 in its second full month of sales.
- Chrysler Town & Country sales rose 5% to 9,737 units.
- The biggest disappointment for Chrysler during the month might have been more weakness with Dodge. Despite increased marketing, sales slipped 9% to 47,689.
- The automaker ended the month with 79 days supply of inventory, down from last month's level of 91 days.
Friday, Jan 38:10 AM
Thursday, Jan 29:10 AM
Thursday, Jan 29:10 AM| 8 Comments
- Shares of Fiat (FIATY) soar over 15% after the automaker finally works out a deal to gain complete control of Chrysler.
- The deal price of $4.35B came in below what analysts thought it would take to get a UAW healthcare trust to sign off on.
- What to watch: The impact on the automobile industry (GM, F, TM, HMC, NSANY) is that a tighter combination of Chrysler and Fiat could give both brands more funds to invest in new models and production. Supporting Chrysler in the vibrant U.S. market could be a particular focus.
Thursday, Jan 22:40 AM
Thursday, Jan 22:40 AM| 4 Comments
- Fiat (FIATY) has agreed to pay $4.35B to acquire the 41.5% stake in Chrysler owned by the United Auto Workers Retiree Medical Benefits Trust.
- The deal ends a long-running dispute over the valuation of Chrysler - which is just over $10B under the agreement - and helps pave the way for the consolidation of the companies into a single global automaker with combined sales of 6M vehicles and 2012 revenue of €84B.
- The transaction also means that Chrysler's prospective IPO will probably be called off. (PR)
Tuesday, Dec 312013, 2:52 PM
Tuesday, Dec 312013, 2:52 PM| 16 Comments
- IHS Automotive is out with a forecast on self-driving cars which could prove to be provocative.
- The research firm thinks by the year 2035 close to 9% of all cars sold will be able to function without a human driver. The estimate is more aggressive than most covering the nascent technology.
- The anticipated benefits of autonomous cars include fewer accidents, less traffic congestion, and an easier way for the industry to keep emission pollution under control. Detractors say insurance liability and software concerns will plague growth rates
- What to watch: The engineers at Google X may have something to say about the direction of the self-driving car initiative. The company's purchase of Boston Dynamics, the advent of Google glasses, and the spins the company's early prototype has taken around Silicon Valley all point to more than a passing interest by the tech giant.
- Related stocks: GM, F, TM, FIATY, HMC, NSANY, TSLA, VLKAY, DDAIF, HYMLF, BAMXY, PEUGF, RNSDF, FUJHY.