Connect with us

Chrysler

Chrysler Earns $740 Million in Q2 2012

Published

on

Chrysler 300C Logo

Once again, the Chrysler group was responsible for keeping the Fiat-Chrysler alliance in the black. Under IFRS, the American automaker earned $740 million (€604 million) in the second quarter of 2012, while Fiat reported a loss of $301 million (€246 million). After doing the simple math, group earnings netted to $440 million (€358 million).

This performance is made more impressive by the fact that Chrysler lost $370 million in the same quarter last year, a figure that included a one-time $551 million charge related to repayment of its government loans.

“Our results reflect a tireless pursuit by the people of Chrysler Group to deliver the very best quality and value across our brands,” said Sergio Marchionne, Chrysler Group LLC Chairman and CEP.

“Together, we are always striving to achieve more, to learn from the past and build upon our successes. Nowhere is our dedication more evident than in the all-new Dodge Dart, with up to 41 mpg highway and levels of customization not typically found in the compact car segment,” he added.

While Fiat continues to be pummeled by an ailing European market, Chrysler continues to ride high on strong North American sales. Expect similar results in the next two quarters.

Continue Reading
Click to comment

Chrysler

Chrysler 300 Sedan Will Be Discontinued In 2020

Published

on

2015 Chrysler 300 sedan, front logo

It will be the last Chrysler sedan.

Chrysler two model lineup will see the elimination of the Chrysler 300 in 2020 and the addition of a second people-mover.

According to , there is no replacement for the large sedan planned. Instead, we can expect a new model based on on the Pacifica by mid-2019, possibly a crossover.

A production version of the electric Portal concept is also planned and should arrive in 2020. Unveiled in 2017 at CES in Las Vegas, the concept featured retractable steering wheel and had autonomous driving capabilities.

The elimination of the Chrysler 300 in 2020 will end a 15 year run for the full-size sedan, which entered production in 2005.

It’s hard to imagine a Chrysler brand without a sedan, let alone a large one, but the segment is in a perceptible decline, leading several other automakers to also trim their sedan lineup, if not downright eliminate it.

With only three models in its lineup by 2020, will the Chrysler brand even be relevant? Share your thoughts in the comments below.

Continue Reading

Alfa Romeo

Mike Manley Becomes New Fiat Chrysler CEO, Marchionne Steps Down

Published

on

FCA CEO Mike Manley and Marchionne

Health complications has forced Sergio Marchionne to step down from his post as Fiat Chrysler Automobile’s CEO. He has been replaced by Mike Manley effective immediately.

Marchionne had been recovering from shoulder surgery for some months, but a deterioration in his condition has rendered him incapable of running the automaker effectively.

FCA did not elaborate, but having served as FCA CEO since 2004, the former tax account oversaw a controversial tenure that included the acquisition of Chrysler during the 2008 global financial crisis, saving it from bankruptcy; the reintroduction of the Fiat, Alfa Romeo and Maserati brands to North America; spinning off Ferrari; and killing off Chrysler’s passenger cars,

Marchionne was expected to retire at age 66 in 2019. His replacement, Manley was previously the boss of FCA’s Jeep and Ram brands and assumes all powers of the CEO by the board of directors. John Elkann will become chairman at Ferrari, a post Marchionne was expected to hold in until 2021.

Is Fiat Chrysler better off without Sergio Marchionne? Share your thoughts in the comments below.

Continue Reading

Alfa Romeo

Hyundai Is Looking To Buy Fiat Chrysler?

Published

on

New, 2019 Hyundai Santa Fe XL pose

That Fiat Chrysler Automobiles CEO Sergio Marchionne has been shopping for a corporate partner or a possible buyer is no secret, but could that partner / buyer be Korea’s very own Hyundai?

It was previously reported that Chinese automaker Great Wall was in talks to buy Jeep, and now a new rumor claims Hyundai will gun for a takeover of Fiat Chrysler Automobiles if the price is right.

According to sources that spoke with , Hyundai Motor Group CEO Chung Mong-koo is keeping a close eye on FCA’s stock price; once it drops to a certain level, a takeover bid will be made.

If true, the Korean automaker could make a takeover attempt before its annual shareholders’ meeting in spring of 2018, which is around the same time that FCA CEO Sergio Marchionne is expected to step down from his post.

The merger is reportedly being pushed by Elliott Management principal Paul Singer, an activist shareholder in Hyundai. Elliott Management also has a $1 billion stake in Hyundai.

Neither automaker has confirmed the talks, with Hyundai even denying it. When reached out to the Senior Group Manager of Hyundai Corporate and Marketing Public Relations, Michael Stewart about the rumor, he said “That rumor is totally groundless.”

If Hyundai does in fact takeover FCA, it would become the world’s largest automaker.

Continue Reading
Advertisement
https://webterra.com.ua

лучшие китайские интернет магазины

injectable anabolic steroids

Copyright © 2018 FbaPPs