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fareastwarriors Newbie

fareastwarriors

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Chrysler Weighs Jeep Expansion

 

Sergio Marchionne, head of Chrysler and its parent, Italy's Fiat F.MI -0.59% SpA, has said he wants to expand the Jeep sport-utility brand into a global player by expanding sales internationally. World-wide sales hit a record last year of 731,565, up 4% from the previous year, the company said this week.

 

 

http://online.wsj.com/news/articles/SB10001424052702303754404579312582224964184

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fareastwarriors Newbie

fareastwarriors

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Chrysler Targets Top Midsize Cars With New 200

 

http://www.nytimes.com/aponline/2014/01/13/business/ap-us-auto-show-chrysler-200.html?src=busln

 

The redesigned 200 built on underpinnings from Fiat, Chrysler's Italian owner — but is distinctly American.

 

The car has a roomy interior, quieter engine and sculpted body that should make it competitive in the biggest part of the U.S. auto market. Chrysler is aiming to take sales from the Toyota Camry, Ford Fusion and Honda Accord.

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skanjete Newbie

skanjete

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Great news :

 

"Fiat Chairman says Marchionne to stay for at least 3 years

Reuters

16 minutes ago

 

DETROIT/MILAN, Jan 13 (Reuters) - Sergio Marchionne will remain at the helm of Fiat at least for the three years necessary to oversee the completion of the car maker's next business plan, Chairman John Elkann said on Monday.

 

The Italian press has speculated Marchionne could leave after the presentation of the business plan in April or May following a long-pursued deal this month that handed the Turin-based group full control over its U.S. unit Chrysler.

 

Speaking to journalists in Detroit, Elkann said Marchionne would not be replaced for another three years at least.

 

Asked about Marchionne's succession, Elkann said: "Not before three years."

 

Marchionne had earlier said organisational details and where to locate the legal headquarters of the merged company would be discussed at a Fiat board meeting on Jan. 29."

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phil_Buffett Newbie

phil_Buffett

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Great news :

 

"Fiat Chairman says Marchionne to stay for at least 3 years

Reuters

16 minutes ago

 

DETROIT/MILAN, Jan 13 (Reuters) - Sergio Marchionne will remain at the helm of Fiat at least for the three years necessary to oversee the completion of the car maker's next business plan, Chairman John Elkann said on Monday.

 

The Italian press has speculated Marchionne could leave after the presentation of the business plan in April or May following a long-pursued deal this month that handed the Turin-based group full control over its U.S. unit Chrysler.

 

Speaking to journalists in Detroit, Elkann said Marchionne would not be replaced for another three years at least.

 

Asked about Marchionne's succession, Elkann said: "Not before three years."

 

Marchionne had earlier said organisational details and where to locate the legal headquarters of the merged company would be discussed at a Fiat board meeting on Jan. 29."

 

i like it very much!!!!!! indeed great News

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GregS Newbie

GregS

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When asked by CNBC about a Chrysler IPO, Marchionne said "a listing in the US market is possible" and said it will be discussed with the Board at the end of January.

 

I read this to say he might be thinking more about a US listing for Fiat, and that it could happen soon.  But I assume all options would be discussed.

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fareastwarriors Newbie

fareastwarriors

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Fiat Starts to Rethink Roles of Its Brands

 

 

http://online.wsj.com/news/articles/SB10001424052702304549504579319513509330206?mod=WSJ_hp_LEFTWhatsNewsCollection

 

 

 

Fiat is starting to rethink the roles of its multiple brands now that it is about to fully combine with Chrysler Group LLC, starting with the model lineups for its Chrysler and Dodge brands in the U.S.

 

The Chrysler brand has suspended plans for a small car called the Chrysler 100 for the near term, preferring to focus on its existing portfolio of three models including the Town & Country minivan, a top executive said in an interview at the Detroit auto show.

 

"As far as I'm concerned, the 100 doesn't happen in the short term," said Al Gardner, who took over as the Chrysler brand's chief executive in November.

 

"The next thing we look at is what to do next with the 300, and then what do we do with the Town & Country," he said, mentioning two of the three models in its portfolio. The third one is the 200, a new version of which was shown at the show.

 

Sergio Marchionne, Fiat's CEO, has suggested that the combined company wants to reduce overlap between the Chrysler and Dodge brands.

 

The Town & Country is one of two minivans within the overall Chrysler group of brands. The other is the Dodge Caravan. Mr. Marchionne has said only one of these two would survive. That has prompted speculation about which brand would ultimately get the next-generation minivan.

 

The move would be significant for a company that once built much of its market share and profits on sales of two minivan models. In recent years, however, demand for minivans has fallen as more families have opted for larger sport-utility vehicles that also have three rows of passenger seats.

 

At a news conference Monday, Mr. Marchionne said Chrysler expects to make a final decision on where to build the next-generation minivan during this quarter. The current ones are made at Chrysler's factory in Windsor, Ontario.

 

"We are 95% there on the styling of the vehicle," he said. "That's a tremendous move forward."

 

Mr. Marchionne, however, said the question of where the next minivan will be built isn't settled and is subject to talks with the Canadian Auto Workers union and Canadian government officials.

 

Unit sales of Chrysler's namesake brand fell 2% to 302,492 in 2013.

 

The auto maker is banking on the rollout of the new version of the Chrysler 200 sedan to help reverse that slide.

 

The auto maker also had planned to add a Chrysler-brand crossover, but that vehicle has yet to arrive. Mr. Gardner said the company decided against the Chrysler 100 because it already has the compact Dodge Dart, which fills a similar niche. The Chrysler 100 was also to be a hatchback, a body style that tends to get a lukewarm reception from U.S. buyers.

 

Chrysler had shown dealers the Chrysler 100 two years ago at a meeting in Las Vegas.

 

"It's a great product but not when you look at it from a financial perspective," he said.

 

When asked about the future of the Chrysler brand's lineup, Mr. Gardner acknowledged the need to expand the brand, but gave no specifics on the timing. "Would I love to have a fourth model? Sure, but I've got three vehicles which are my primary focus," he said.

 

Mr. Marchionne indicated that Fiat's Lancia brand will also be slimmed down. The Chrysler brand will no longer supply models in Europe for Lancia, based in Italy. Chrysler's models, including the 300, have failed to help Lancia gain any ground in Europe. The vehicles were too big to win over buyers who traditionally prefer smaller cars and live in countries, such as Italy, where larger engines are taxed heavily.

 

Mr. Marchionne said Lancia would focus on selling its Ypsilon city car, most of which are sold in Italy.

 

For the first 11 months of 2013, Lancia sales fell 21.5% to 68,223 vehicles in the European Union.

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nikhil25 Newbie

nikhil25

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AutoNation CEO Says U.S. Vehicle Inventories Too High

CEO Mike Jackson Challenges Auto Makers Over Sales Tactics

http://online.wsj.com/news/articles/SB10001424052702303819704579320991785371828?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702303819704579320991785371828.html

 

U.S. dealers have about $100 billion worth of unsold cars and trucks sitting on their lots, Mr. Jackson said. That level is striking given that car makers have pledged not to overstock dealers the way they did in the run-up to the financial crisis and the auto-sales collapse of 2008-2009, Mr. Jackson said. Auto makers book revenue when a car is shipped, not when it is sold at the dealership.

 

At the end of 2013, auto dealers had 3.45 million cars and trucks in stock, enough to last 63 days at the current selling rate, according to research firm Autodata Corp. A 60-day supply of cars is typically considered as healthy by the industry.

 

But Mr. Jackson said the inventory levels are much higher than that—closer to 90 to 120 days of supply—if cars sold to fleets are excluded from the selling rate.

 

AutoNation's Mr. Jackson said discounts are starting to rise across the industry already, even if they aren't as obvious to consumers. Among them are "stair-step programs" where car companies give money directly to dealers in exchange for hitting monthly sales targets.

 

"What worries me is if the industry was as disciplined as it says it is we would have stopped before 3.5 million" vehicles at dealerships, Mr. Jackson said. He sees about a 50-50 chance the industry will resort to an all-out discount war.

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racemize Newbie

racemize

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AutoNation CEO Says U.S. Vehicle Inventories Too High

CEO Mike Jackson Challenges Auto Makers Over Sales Tactics

 

U.S. dealers have about $100 billion worth of unsold cars and trucks sitting on their lots, Mr. Jackson said. That level is striking given that car makers have pledged not to overstock dealers the way they did in the run-up to the financial crisis and the auto-sales collapse of 2008-2009, Mr. Jackson said. Auto makers book revenue when a car is shipped, not when it is sold at the dealership.

 

At the end of 2013, auto dealers had 3.45 million cars and trucks in stock, enough to last 63 days at the current selling rate, according to research firm Autodata Corp. A 60-day supply of cars is typically considered as healthy by the industry.

 

But Mr. Jackson said the inventory levels are much higher than that—closer to 90 to 120 days of supply—if cars sold to fleets are excluded from the selling rate.

 

AutoNation's Mr. Jackson said discounts are starting to rise across the industry already, even if they aren't as obvious to consumers. Among them are "stair-step programs" where car companies give money directly to dealers in exchange for hitting monthly sales targets.

 

"What worries me is if the industry was as disciplined as it says it is we would have stopped before 3.5 million" vehicles at dealerships, Mr. Jackson said. He sees about a 50-50 chance the industry will resort to an all-out discount war.

 

Well, this is extremely disappointing. 

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