After PSA Group’s move to purchase of General Motors Co.’ s Opel unit, the next step in a looming consolidation wave could be a bid by Volkswagen AG for Fiat Chrysler Automobiles NV, according to the Italian-American carmaker’s outspoken chief executive officer.
Category: Fiat Spa
Ferrari’s Net Income Doubles on Cost Cuts and Pricing Gains
The Italian supercar maker’s shares jumped 4% after the news was announced. Deliveries of the $2 million-plus LaFerrari Aperta hypercar helped boost Ferrari’s fourth-quarter earnings.
Ferrari Targets Profit Jump on $2.1 Million LaFerrari Aperta
Ferrari NV plans to increase profit by at least 8 percent this year with more special-edition supercars such as the $2.1 million LaFerrari Aperta, which helped revenue and earnings reach records in 2016. The shares rose to their highest price ever.
Trump Is Squeezing Detroit at the Worst Possible Time
That’s a recipe for trouble facing companies wary of undoing the painful but necessary steps they took to shut dozens of factories across the country, before and during a more than $70 billion government bailout. New assembly plants cost General Motors Co., Ford Motor Co.
Trump Tells Auto CEOs Easier Rules Will Bring Back U.S. – Bigly’
President Donald Trump told the chief executives of the three biggest automakers in the U.S. that he’ll cut taxes and reduce environmental regulations to restore the nation’s manufacturing sector. “We’re bringing manufacturing back to the U.S. bigly, we’re reducing taxes, very substantially, and we’re reducing unnecessary regulations,” Trump told reporters Tuesday, seated between the CEOs of General Motors Co.
German Minister Dobrindt Seeks Recall of Fiat Cars, Bild Reports
German Transport Minister Alexander Dobrindt, escalating a months-long feud with Italy over vehicle emissions, said the European Commission must ensure that Fiat Chrysler cars that break pollution rules are taken off the market, Bild am Sonntag reported. “The Italian authorities have known for several months that Fiat, in the opinion of our experts, uses illegal shut-off devices,” the Sunday newspaper quoted Dobrindt as saying.
Italy Rejects Germany’s Request on Fiat Cars in Months-Long Feud
Italy rejected Germany’s request to look closer at Fiat Chrysler Automobiles NV’s vehicles to ensure they meet European emission rules, as the months-long feud between the countries over the issue escalated. Italian Deputy Transport Minister Riccardo Nencini said the “insistence of the German government after the responses given by the Italian ministry is incomprehensible.”
Fiat Chrysler shares up as investors play down EPA impact
Fiat Chrysler Automobiles shares rose on Friday as investors played down the potential impact of the U.S. Environmental Protection Agency accusing the company of concealing diesel emissions. Fiat’s Milan-listed rose more than 7 percent in early trade and stood 3.53 percent higher at 9.09 euros at 1101 GMT .
What Happened in the Stock Market Today
News that the Senate took the initial steps to repeal the Affordable Care Act overnight last night failed to shake healthcare insurers as iShares US Health Care Providers by 0.4% in what some believe could be anticipation of a market pullback, or at least volatility, after Trump’s inauguration. shares dove 10.3% after the EPA accused the automaker of cheating on emissions tests, similar to the way Volkswagen did.
Fiat Chrysler Accused of Diesel Emissions Cheating by U.S.
Fiat Chrysler Automobiles NV was accused of violating pollution laws with 104,000 diesel vehicles, sending the shares plunging on the prospect the automaker may follow Volkswagen AG in facing billions of dollars in fines. The Environmental Protection Agency alleged Fiat Chrysler put software in Jeep Grand Cherokee and Ram 1500 models that allows them to exceed pollution limits.
Fiat Chrysler Shares Crash on Diesel Emission Accusations
Fiat Chrysler was drawn into the automotive emissions scandal Thursday as the Environmental Protection Agency moved to accuse the automaker of violating the Clean Air Act on some of its diesel engines. The EPA is expected to say Fiat used software that allowed it to exceed diesel emission caps in about 100,000 trucks and SUVs sold in the U.S. since 2014.
Marchionne Suggests Trump Might Support Merger With Rival GM
Sergio Marchionne, chief executive officer of Fiat Chrysler Automobiles NV, suggested that President-elect Donald Trump might support the idea of General Motors Co. merging with his company.
Marchionne Enters Final Push to Free Fiat Chrysler From Debt
Sergio Marchionne enters the final stretch of his career at Fiat Chrysler Automobiles NV with a daunting mission: prove wrong the doubters who question how he can make the carmaker’s $5.29 billion in debt disappear by the time he steps down in two years. His strategy update will be a closely watched presentation next week at the Detroit motor show, particularly as Fiat Chrysler won’t be unveiling new models at the annual event.
Marchionne Enters Final Push to Free Fiat Chrysler From Debt
Sergio Marchionne enters the final stretch of his career at Fiat Chrysler Automobiles NV with a daunting mission: prove wrong the doubters who question how he can make the carmaker’s $5.29 billion in debt disappear by the time he steps down in two years. His strategy update will be a closely watched presentation next week at the Detroit motor show, particularly as Fiat Chrysler won’t be unveiling new models at the annual event.
Fiat Chrysler Pauses From Gas-Guzzlers to Show Electric Minivan
Fiat Chrysler Automobiles NV is laying out a vision of a battery-powered, self-driving minivan that it bets even a millennial could love. That may not be enough to shake the automaker’s image as the purveyor of the least fuel-efficient fleet in the U.S. The automaker’s fifth-generation minivan, whose design concept is called the Chrysler Portal, would have a 250-mile electric range and enough screens, ports and social-media options to entertain young families while software handles much of the driving.