Fiat assumed a majority stake in Chrysler Group LLC in July. The CEO of both companies, Sergio Marchionne, said that he expects Chrysler to earn $3 billion in operating profits next year after cutting costs and giving a boost to sales. Marchionne said that Chrysler will sell 2.4 million vehicles next year and about 2 [...]
As much as Ferrari’s president Luca de Montezemelo says that an IPO for the brand is not on the table, the automotive industry just can’t seem to stop talking about it. According to new reports, several investment banks have approached Ferrari owner Fiat in recent weeks with a proposal to list the supercar maker on the Hong [...]
Despite all of the hype and push for electric vehicle motoring, people are starting to realize that EVs don’t have the potential that everyone seems to be promising because, well, EVs have been found to be very impractical and don’t suit many drivers’ needs. Even Chrysler and Fiat’s CEO, Sergio Marchionne agrees. Marchionne himself said [...]
A conference regarding whether Chrysler and Fiat S.p.A. will offer an IPO for the Auburn Hills make took place today in northern Michigan. There has been growing speculation as to whether Chrysler will attempt to return to public ownership by the end of this year. But since Fiat S.p.A. has increased their stake significantly in [...]
It’s a scary thought for us to see a Chrysler Group LLC operation without Sergio Marchionne at the helm – however, it’s bound to happen one day. During a question-and-answer session at the 2011 Management Briefing Seminars, Marchionne said that he will be stepping aside as CEO from the Auburn Hills automaker within five years. [...]
In a recent interview, one of Chrysler’s new top executives spoke openly in his thoughts about the latest Fiat and Chrysler merger. Dan Knott, said recently that he has his hopes high for this latest merger between European auto giant, Fiat and Auburn Hills-born Chrysler AG. Simply put, it comes down to this: “When I [...]
Just recently, we’ve provided news that Fiat’s CEO Sergio Marchionne has increased their stake in the Chrysler Auto Group ridding the Auburn Hills make of its US and taxpayers’ ownership. This also means that executive pay restrictions imposed by the US government as part of the bailout program was also lifted. That said however, Marchionne [...]
Earlier this week, we provided news that Fiat was increasing their stake in the Chrysler Auto Group well past 50%. However, despite Fiat’s prominence over Chrysler, Chrysler’s out standing sales in the US market and growth in Brazil has allowed the American auto manufacturer to offset Fiat’s less successful sales in Europe. “Chrysler will generate [...]
Chrysler announced a net loss for the second quarter of 2011 for a total of $370 million compared to a net loss of $172 million during the same period in 2010. The loss was reported even as sales and market share increased in the United States and Canada. Chrysler said that if it did not [...]
Chrysler has been on a very strong upward trend, both as a company and with their products. However, much of this is attributed to Fiat’s purchase of the Chrysler Group LLC because without the acquisition, for all we know Chrysler could’ve ended up the same way the company’s former subsidiary Plymouth did: dead. When Fiat [...]
