Fiat Chrysler Automobiles reduced its debt by more than expected in the first quarter, putting the carmaker well on course to become cash positive later this year.
Cars and trucks are more expensive than ever before. In order to boost sales and help consumers afford new vehicles, automakers are offering long and long terms for auto loans. This past week, Bloomberg reports FCA's Ram Trucks division current offers the longest loans. Some currently stretch to 73 months. Jeep, Fiat and Chevy aren't far behind. Even more noteworthy is that we're likely soon see lenders moving from 73-month to 84-month loans. That's seven years worth of interest.
Fiat Chrysler said on Thursday its board had tasked management to proceed with spinning off Magneti Marelli and distributing shares in a new holding for the 99-year old parts business to FCA investors.
It was testing alongside the new Jeep Renegade.
Fiat announces the Reloaded by Creators service to source, restore, and sell vintage models to collectors.
But incentive-heavy automakers "are now selling the deal instead of the vehicle. That's a tough spot to be in."
"There's a very strong likelihood that we will outperform Ford in terms of operating earnings in 2018."
Iacobelli pleaded guilty to conspiracy to violate the Labor Management Relations Act and to tax evasion.
We list 10 cars in recent memory that got major midcycle redesigns to correct unpopular styling, including the 2019 Jeep Cherokee.
Marchionne is especially interested in "the development of transmissions and hydrogen."
Ram and Alfa were bright spots.
He praises Elon Musk's marketing skills, doubts his ability to make money.