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, Nov 252013, 1:32 PM
Monday, Nov 252013, 1:32 PM| 7 Comments
- Automobile sales are forecast to have grown nicely in November from October's shutdown-influenced pace, according to the latest rash of industry predictions.
- Estimates for November range from a Seasonally Adjusted Annual Rate of 15.7M (Edmunds.com) to 16.1M (JD Power) - up from October's 15.154M SAAR.
- What to watch: Ford (F), General Motors (GM), and Chrysler (FIATY) are expected to have picked up market share during the month while Honda (HMC), Hyundai (HYMLF), and Volkswagen (VLKAY) are tapped to retreat a bit. The calendar kicks in an extra selling day which automakers won't highlight greatly. Inventory numbers and average transaction prices will be closely watched. If the former decreases and the latter improves, automobile stocks could rally.
Monday, Nov 252013, 10:48 AM
Monday, Nov 252013, 10:48 AM| 1 Comment
- The attention of the automobile industry shifts this week from the L.A. Auto Show to the Tokyo Motor Show with hydrogen fuel cell technology expected to be a major focus.
- Japanese automakers (NSANY, TM, HMC, MZDAY, SZKMY, FUJHY) will get to strut their stuff on their home turf and justify their lofty global sales targets.
- A weaker yen and major production increases in North America make a compelling case that shares of the group might be as attractive as their Detroit counterparts (F, GM, FIATY).
Monday, Nov 252013, 8:26 AM
Monday, Nov 252013, 2:48 AM
Monday, Nov 252013, 2:48 AM| Comment!
- Chrysler is reportedly considering setting the price range of its IPO so that it would raise $1.5-2B, which would give the auto maker a market cap of $9-12B.
- Such a range would value the 41.5% stake held by the United Auto Workers' retiree healthcare trust at $3.7-5B.
- Chrysler expects to fix the range this week and carry out the listing by mid-December in order to avoid the holiday slowdown in the IPO market.
- Alternatively, the external setting of a valuation for the trust's stake could facilitate a deal for Fiat (FIATY) - Chrysler's majority owner - to buy the UAW holding and stop the IPO. Fiat would then be able to merge its operations with Chrysler. (Previously)
Saturday, Nov 232013, 11:45 AM
Saturday, Nov 232013, 11:45 AM| 28 Comments
- The L.A. Auto Show hit full stride with global automakers tipping off plans to ramp up production and designs to take advantage of the North American demand boom.
- Honda (HMC), Toyota (TM), and Hyundai (HYMLF) pounded home the commitment they will make to hydrogen fuel cells. This is no flux capacitor chatter. All three plan to invest to have fuel cell models on the U.S. market within two years, although details on charging station infrastructure are sketchy.
- General Motors (GM) was the talk of the town as the Chevy Colorado truck impressed analysts mightily and looks set to give challengers from Nissan and Toyota a run for their money.
- BMW (BAMXY), Porsche (VLKAY, POAHF), and Mercedes-Benz (DDAIF) all have big plans for the luxury market, while Kia enters the segment as a darkhorse with the K900. Kia?
- On the zero-emission front, Honda was full of swagger by landing a major green award for the new hybrid Honda Accord on gaudy fuel economy ratings.
- Automakers to watch: Subaru (FUJHY) and Chrysler (FIATY) look well-positioned for 2014 market share gains. Tesla (TSLA) CEO Elon Musk is off monitoring his latest Space X rocket, while the Tesla debate gets even livelier on SA.
Thursday, Nov 212013, 4:00 PM
Thursday, Nov 212013, 4:00 PM| Comment!
- Banks working with Chrysler (FIATY) eye a valuation of close to $10B for the automaker after mucking around with the numbers, according to a Bloomberg report.
- If the valuation sticks, the slice owned by the UAW trust that is being hotly-contested would be worth roughly $4.2B, below what analysts forecast.
Wednesday, Nov 202013, 5:11 PM
Wednesday, Nov 202013, 5:11 PM| Comment!
- Sources tell Reuters Barclays, Goldman, Morgan Stanley, and UBS have been added as bookrunners for Chrysler's (FIATY) upcoming IPO (they join lead underwriters JPMorgan and BofA/Merrill), and that the automaker's offering could take place in December.
- Chrysler has been reporting strong SUV and pickup sales ahead of its IPO, which is the result of majority owner Fiat's failure to buy out the UAW retiree healthcare trust's 41.5% stake.
Wednesday, Nov 202013, 2:00 PM|Wednesday, Nov 202013, 2:00 PM| Comment!
Tuesday, Nov 192013, 2:49 AM
Tuesday, Nov 192013, 2:49 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 112013, 1:14 PM
Monday, Nov 42013, 3:11 PM|Monday, Nov 42013, 3:11 PM| 23 Comments
Monday, Nov 42013, 9:17 AM
Monday, Nov 42013, 9:17 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 12013, 8:22 AM
Friday, Nov 12013, 8:22 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 12013, 8:13 AM|Friday, Nov 12013, 8:13 AM| Comment!
Thursday, Oct 312013, 1:32 PM
Thursday, Oct 312013, 1:32 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 292013, 8:28 AM
Tuesday, Oct 292013, 8:28 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.