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Chrysler taking Mopar global, Shanghai and Dubai next

Zach Bowman — Fri, 23 Dec 2011 10:29:00 EST

Filed under: Etc., Chrysler, Dodge, Jeep, Middle East, Fiat, Ram

Mopar is spreading its parts support network into new global markets. Chrysler and Fiat have opened new parts distribution centers in Shanghai and Dubai at 16,000 and 18,000 square feet, respectively. The new warehouses will help support Chrysler, Jeep, Dodge, Ram and Fiat brands around the world with a more comprehensive parts distribution system as the American marques continue to grow globally. Chrysler says that the facility in Shanghai will stock over 35,000 part numbers while its counterpart in Dubai will stock slightly less at 30,000. Chrysler is also planning to bolster its Middle East presence in other ways, however.

The company says it will open 12 Mopar Express lanes in the region. In 2011, five opened in Saudi Arabia, Kuwait and Jordan, while seven more will begin business in Abu Dhabi, Qatar, Saudi Arabia, Iraq and Kuwait in 2012. The service centers will provide customers with comprehensive vehicle inspections and factory-backed service. Hit the jump for the press release.

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Chrysler taking Mopar global, Shanghai and Dubai next originally appeared on Autoblog on Fri, 23 Dec 2011 10:29:00 EST. Please see our terms for use of feeds.

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Marchionne hints he'll step down in 2015 or 2016

Steven J. Ewing — Wed, 03 Aug 2011 11:01:00 EST

Filed under: Hirings/Firings/Layoffs, Chrysler

During this week's Management Briefing Sessions in Traverse City, Michigan, Sergio Marchionne hinted at the possibility of stepping down from the position of Chrysler CEO within the coming years. While talking about Chrysler's future plans, Marchionne said they will "be up to go the guy after me - after 2015 or maybe a year later," Automotive News reports.

Recently, a single management team for all of Chrysler/Fiat's properties was announced, with Marchionne taking the top role for Chrysler's operations here in North America. Marchionne also currently holds the position of CEO for Fiat S.p.A., Chrysler's controlling shareholder.

"There will be a Chrysler after me," Marchionne stated. The CEO also said that Chrysler should have little trouble adjusting its product lineup to meet the stricter fuel economy requirements for the year 2025.

Marchionne hints he'll step down in 2015 or 2016 originally appeared on Autoblog on Wed, 03 Aug 2011 11:01:00 EST. Please see our terms for use of feeds.

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Fiat officially splits into two corporate groups

Noah Joseph — Wed, 01 Dec 2010 08:01:00 EST

Filed under: Europe, Earnings/Financials, Fiat

With all the mergers and acquisitions going on in the automotive industry these days, few corporate structures have been as tumultuous as that of Fiat. The Italian group was once very centralized, but recently, it split its divisions into quasi-autonomous subsidiaries, then it stepped in and took the reins at Chrysler, and is now it is splitting itself into two distinct groups.

The first is to be known as Fiat SpA, and will encompass the automotive brands, including Alfa Romeo, Lancia, Maserati and, of course, Fiat. The second, Fiat Industrial SpA, will presumably include the likes of Iveco, Case New Holland and French motorcoach division Irisbus. (Ferrari's future hangs in the balance as reports alternately confirm and deny plans to sell off parts of the Maranello-based automaker and racing team.)

The de-merger was made in accordance with a shareholder vote on September 16. As a result, both new corporate groups have received new logos to help differentiate one from another, as both will be listed separately on the Milan Stock Exchange. While the move likely won't have any immediate, direct impact on the Chrysler Group, if an official merger is to take place between the Turin and Auburn Hills auto groups, it's likely to encompass the Fiat auto group and leave the industrial group alone. Official announcement in the press release after the jump.

[Source: Fiat (both of 'em)]

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Fiat officially splits into two corporate groups originally appeared on Autoblog on Wed, 01 Dec 2010 08:01:00 EST. Please see our terms for use of feeds.

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Report: Marchionne to ask Fiat stockholders to demerge the company

Jonathon Ramsey — Tue, 14 Sep 2010 09:00:00 EST

Filed under: Europe, Earnings/Financials, Fiat

Fiat S.p.A is a conglomerate divided into Fiat Autos and Fiat Industrial, the two combining to own or control well over 20 companies. The auto side includes Alfa Romeo, Ferrari and Maserati, Magnetti Marelli and Fiat Powertrain Technologies. The industrial side controls companies like Iveco and Case New Holland, the latter being the second largest producer of agricultural equipment in the world after Deere & Company.

Fiat CEO Sergio Marchionne, citing the divergent customers, strategies, capital needs and potential alliance partners of the two divisions, is asking shareholders to approve a demerger. If the shareholders go for it, the 111-year-old company would divide into Fiat Auto S.p.A. for the auto side and Fiat Industrial S.p.A. for the remainder.

The division of the company was approved by the board in July and shareholders have until this Thursday to make up their minds about which way to vote. If the yays have it then the two companies will be standalone entities as of January 1, 2011. Shareholders would get one share in each of the companies for every share they currently hold. Analysts are cautious but supportive of the move, which will probably be the strongest test yet of Marchionne's long-term plan for Fiat.

[Source: Financial Times]

Report: Marchionne to ask Fiat stockholders to demerge the company originally appeared on Autoblog on Tue, 14 Sep 2010 09:00:00 EST. Please see our terms for use of feeds.

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Officially Official: Chrysler exiting bankruptcy, Fiat steps in and makes changes immediately

Frank Filipponio — Wed, 10 Jun 2009 13:28:00 EST

Filed under: Government/Legal, Hirings/Firings/Layoffs, Chrysler, Earnings/Financials, Fiat

Fiat now owns a big chunk of Chrysler. Officially. Soon after the Supreme Court gave it the go-ahead, the sale of Chrysler to Fiat was complete. Altogether, the deal took just 42 days. With a couple of signatures and a wire transfer Wednesday morning, the sale was official. Fiat gets most of Chrysler's assets and $6.6 billion in "exit financing" from the federal government.

This can be seen as a victory of sorts for the Obama Administration, which had hoped to get Chrysler reorganized quickly and efficiently. Supporters say that the new Chrysler Group LLC has a good chance of being more competitive out of the box, having shed much of its legacy labor costs and debt, and Fiat's expertise with small cars shouldn't hurt either.

Official statements by current Chrysler CEO Bob Nardelli and Fiat's Sergio Marchionne are pasted in after the jump. Nardelli congratulates employees on being a part of "a leaner, healthier and more robust company," and says goodbye at the same time. He will return to a position with Cerberus. Marchionne introduces himself as the new CEO, former Toyota exec Jim Press as Deputy CEO, and Robert Kidder as board chairman. He also promises that the world's sixth largest automaker will begin to show signs of improvement immediately.

In related news, the Obama Administration has announced the appointment of a new 'Compensation Czar' to oversee the salaries and benefits packages awarded to 175 major executives at seven of America's biggest companies that receive federal aid. According to the New York Times, Washington attorney Kenneth R. Feinberg will have "broad discretion" in determining what compensation packages executives are awarded, including the top 25 decision makers at General Motors, GMAC, Chrysler, and Chrysler Finance.

For its part, as it emerges from bankruptcy, Chrysler's union retiree trust (VEBA) will own 55% of the company, with Fiat getting a 20% share that can grow to a max of 35%. The U.S. and Canadian governments split the rest. If the Fiat-Chrysler deal is any indication, General Motors may see a quick exit from bankruptcy as well, even without a Fiat of its own to step in and help. Now they just need to get people into showrooms with cash in hand.

[Sources: Chrysler, The New York Times | Photo by Sean Gallup/Getty]

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Officially Official: Chrysler exiting bankruptcy, Fiat steps in and makes changes immediately originally appeared on Autoblog on Wed, 10 Jun 2009 13:28:00 EST. Please see our terms for use of feeds.

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Microsoft ready to expand beyond Ford SYNC

Michael Harley — Wed, 20 Feb 2008 19:05:00 EST

Filed under: Audio, Gadgets, Hirings/Firings/Layoffs, Technology, Ford

It was just last month when we reported the announcement that Microsoft had taken Ford's SYNC to the next level. It was good news for Ford, and good news to consumers who apparently like the award-winning hands-free communication and entertainment system. Even with $395 price tag, SYNC was selling faster than Hanna Montana tickets at a middle school box office.

Ford isn't the only automaker using the Windows CE 6.0 based Microsoft Auto technology. Before Ford inked their deal, Microsoft had licensed the technology to the Italian automaker Fiat SpA. Now, as Ford's exclusive U.S. rights to the technology are set to end later this year, Microsoft is eager to bring other automakers on board. It shouldn't be a tough sell, as consumers are embracing technology-laden vehicles, and Ford's SYNC has proven to help sell cars.

[Source: Freep]

Microsoft ready to expand beyond Ford SYNC originally appeared on Autoblog on Wed, 20 Feb 2008 19:05:00 EST. Please see our terms for use of feeds.

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