Sergio Marchionne harbors no illusions about Chrysler being in the black for 2010. The Detroit News reports the Chrysler chairman and Fiat CEO stated flat out that a net profit in 2010 isn't likely during an August 23rd tour of a Toledo Jeep plant. Despite recent reports of operating profits from Chrysler, there's still tremendous cost associated with loan interest payments and a lineup of moribund product to turn over. Add to the mix the reintroduction of Fiat automobiles to the U.S. market, an
This cellphone image caught by a tipster may be a bit fuzzy, but we can definitely see that this is the Fiat 500 caught in action. This image was captured on Saturday near Fort Collins, CO. The lead vehicle, a Mini Cooper, was also likely part of the trip, since both vehicles wore manufacturers plates from Michigan.
So you're Chrysler, and you hop into the Chapter 11 pool to save your own skin. While you can wash away some of your past sins with a bankruptcy-protection filing, the deal with Chapter 11 is that you've got to come up with a way to get out of your financial pickle and return to profitability. Part of the Chrysler plan to keep its head above water was divestiture of 789 dealers, a very unpopular idea with the rejected sales organizations (and no small number of politicians, whose ears were subse
While visiting Fiat's gearbox plant in Verrone, Italy the other day, Chrysler board member Alfredo Altavilla let slip that the Italian giant and its newly-acquired Detroit automaker are working together to build an electric car. Chrysler hasn't been talking up its ENVI electric vehicle skunkworks of late and, although they have said they still plan on producing the Dodge Circuit, the silence has served to create speculation.
Fiat is hard at work trying to come up with the best available use of its newly acquired Chrysler arm. Part of that plan may be to sell more Chrysler products in Europe, and Fiat just so happens to have an available factory to build them in. Automotive News is reporting that Fiat CEO Sergio Marchionne says the company would use its freshly purchased Carrozzeria Bertone plant near Turin, Italy. Fiat purchased the facility in July, just a few weeks after Chrysler exited chapter 11 bankruptcy.
As Chrysler moves forward with its post bankruptcy product plans, it's looking increasingly like consolidation with new partner Fiat is the order of the day. Following the cancellation of the platform sharing deal with Nissan, it appears as if the company's interest in the Global Engine Manufacturing Alliance could be the next victim. The agreement in question was formed early this decade between what was then DaimlerChrysler, Hyundai and Mitsubishi to produce common four-cylinder engines for th
Alfa Romeo has been toying with the idea of returning to America for years, but now that Fiat CEO Sergio Marchionne is working from Auburn Hills, the time seems more ripe than ever as details emerge on Fiat/Chrysler's strategy vis-a-vis the North American market. While Marchionne implements management restructuring designed to reduce Chrysler's executive hierarchy and separate its divisions into more independent units, a product strategy is rapidly being put into place to make up for lost time d
Bosch has long been a major supplier of many different automotive components to Fiat, and the company is hoping to leverage that association with the new Chrysler. Bosch provides a higher proportion of the parts and systems that go into the Italian cars than they ever have had at Chrysler. However, as new upcoming Chrysler vehicles move to Fiat-based platforms (and, presumably, powertrains), Bosch parts may further infiltrate Auburn Hills.
Late Sunday night, U.S. bankruptcy Judge Arthur Gonzalez approved the sale of Chrysler's remaining good assets to a group that includes the UAW VEBA health care trust, Fiat, and the U.S. and Canadian governments. The union will get a 68% stake, Fiat gets 20% and the governments split the rest. Gonzalez over-ruled virtually all objections to the deal on the grounds that the best chance of preserving any value in the assets was to move ahead with the sale. The only other viable alternative was liq
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