Fiat Chrysler Automobiles

Fiat Chrysler Automobiles

Despite having to pay $70 million of a record $105 million civil fine for U.S. recall violations, U.K.-based Fiat Chrysler made $333 million Euro in the second quarter. 

That's about $372 million, and a big jump from the same period a year ago. 

International Students’ Committee / Wikimedia Commons

Fiat Chrysler was recently fined a record $105 million dollars for multiple recall violations. This has complicated the goal of the company's CEO Sergio Marchionne to merge with another automaker.

Business columnist Daniel Howes with the Detroit News says Marchionne has "made no secret of the fact that he's most interested in doing a deal with General Motors."

Courtesy photo / Fiat Chrysler Automobiles

Fiat Chrysler is recalling 1.4 million vehicles to prevent hackers from being able to remotely control the cars and trucks.

A couple of professional hackers worked with a reporter for Wired magazine to remotely access the computer system in a Jeep Cherokee. The magazine has posted a video showing what hackers Charlie Miller and Chris Valasek could do.

They kill the engine, disable the brakes, mess with the A/C and the radio.

Atlanta Jeep Ram Dodge

Earlier this year, Fiat and Chrysler cars ranked at the very bottom of  the 2015 Initial Quality Survey by J.D. Power.

That survey rates brands based on how many problems new car owners experienced in the first 90 days of ownership.

Now, turn that survey on its head, and you'll basically have the results of the 2015 Total Quality Index by Strategic Vision.

Fiat Chrysler was the number-one automaker in the survey, with six vehicles that were rated best for total quality:  The Fiat 500, Dodge Charger, Dodge Challenger, Jeep Wrangler, Dodge Durango, and Ram truck.

Chrysler headquarters in Auburn Hills, Michigan.
flickr user fiatontheweb / creative commons

DETROIT - The U.S. government's highway safety agency says it will hold a public hearing in July to determine if Fiat Chrysler has met its legal obligations in 20 safety recalls.

Witnesses and the automaker will be able to present evidence at the July 2 hearing by the National Highway Traffic Safety Administration.

www.flazingo.com / www.flazingo.com/creative commons

An annual study says suppliers have a poor relationship with General Motors, Fiat Chrysler (FCA) and Nissan, mainly because those automakers were adversarial in their dealings with them.

John Henke of Planning Perspectives says the results of his annual OEM-Supplier Relations Study was disappointing and surprising, because in recent years, GM and Chrysler had been making improvements with supplier relations.

Auto sales grew in 2014
Lester Graham / Michigan Radio

UNDATED (AP) - Demand for small and midsize SUVs is driving up auto sales.

  General Motors, Ford, Toyota, Fiat Chrysler and Nissan all reported U.S. sales gains in April as buyers flocked to crossover SUVS that handle like cars and sit up higher. But the gains came at the expense of small and midsize cars.

FCA

Fiat Chrysler Automobiles is dealing with higher than expected demand for its Dodge Challenger Hellcat and Dodge Charger Hellcat.

The company complains that some of its dealers are setting customers up for disappointment, by taking too many orders.

Many dealers will get only one Hellcat delivered a month, which could leave customers waiting months for their Hellcat.

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Freezing temperatures and drifts of snow likely took a small bite out of U.S. auto sales last month, but most automakers are still reporting gains thanks to the strong economy.

General Motors' sales rose 4.2% over last February, while Chrysler's sales were up 5.6%. Nissan's sales were up 2.7%. However, those gains were smaller than analysts had predicted.

user dgtmedia-simone / wikimedia commons

Fiat Chrysler Automobiles CEO Sergio Marchionne rarely holds a press conference without offering at least one memorable quote.

Actually, let's make that never. FCA CEO Sergio Marchionne has never given a press conference without making at least one statement that is memorable, or colorful, or shocking, or funny, or all four combined.

FCA

Fiat Chrysler Automobiles is changing the name of its American division.

Chrysler (actually Chrysler Group, LLC) is now FCA US LLC.  Or FCA US for short.

FCA explained the change this way:

auto.ferrari.com

Fiat Chrysler Automobiles, FCA, will hold a public stock offering to sell off 10% of Ferrari and dole out the remaining 80% of the company to current shareholders.

Piero Ferrari will hold onto his 10%.

Michigan Radio's automotive reporter Tracy Samilton discussed this sale with us.

Samilton says that about 7,000 Ferraris are made a year, which along with their price, gives the vehicle an “unattainable mystique.”

The dispute over stretching that number to make more sales is a contributing factor to the split between FCA and Ferrari.

FCA

Fiat Chrysler Automobiles made its New York stock exchange debut on Monday, beginning trading at $9 a share, and closing at $9.02.

Not bad, for a tumultuous day on Wall Street, when the Dow Jones Industrial Average fell a full 1.6%.

FCA CEO Sergio Marchionne and FCA Chairman John Elkann rang the closing bell together - after giving a joint press conference.

Most of the questions and answers were in Italian.  So, it looks like I'm going to have to learn Italian if I want to continue to cover FCA.

Atlanta Jeep Ram Dodge

Fiat Chrysler continued its climb back to health in June.  It was the 51st month in a row the automaker increased its U.S. year-over-year sales.

The long streak of sales gains is being led by the Jeep and RAM brands. 

Jeep sales rose 28% compared to last June, and RAM sales were up 14%.

"In spite of two fewer selling days in June versus a year ago, we were able to increase our sales 9% and post our strongest June sales in seven years," said Reid Bigland, head of U.S. sales for Chrysler.

The automaker remains weak in terms of small and midsize car sales.  The Dodge Dart has performed well under expectations, selling only 7,225 in June. 

But the company has higher hopes for the new Chrysler 200, which began shipping to dealers in late spring.

It's a big day for Fiat Chrysler Automobiles.

The Italian-American company's CEO, Sergio Marchionne,  will outline a strategic plan for the next five years.

The marriage between Chrysler and Fiat surprised many in the auto industry just by surviving.

Now the company is strengthening that union, by exporting its strongest brands around the world.

When Fiat agreed to a kind of corporate shotgun marriage with a fresh-out-of-bankruptcy Chrysler five years ago, a lot of people thought Fiat's CEO Sergio Marchionne was crazy to do it.

user dgtmedia-simone / wikimedia commons

Remember "DaimlerChrysler"? Well, that didn't go so well.

Maybe "Fiat Chrysler Automobiles" will fare much better.

The company that owns Chrysler Group LLC, Fiat SpA, announced the name change today: 

Today, the Board of Directors of Fiat S.p.A. (“Fiat”) approved a corporate reorganization and the formation of Fiat Chrysler Automobiles (“FCA”) as a fully-integrated global automaker...

In order to establish a true peer to the major global automotive groups, in both scale and capital market appeal, the Board has decided to establish Fiat Chrysler Automobiles N.V., organized in the Netherlands, as the parent company of the Group. FCA’s common shares will be listed in New York and Milan.

The newly formed company's stock will be traded on the New York Stock Exchange. Current Fiat shareholders will receive one share of FCA for each Fiat share they're holding.

The newly named company released its new logo as well today. A logo they say "lends itself to an extraordinary range of symbolic interpretations."

CEO of Fiat and Chrysler Sergio Marchionne called the corporate reorganization "one of the most important days in my career at Fiat and Chrysler."