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Marchionne may stay with FCA until 2020

We might get to see Sergio Marchionne and his vast array of sweaters in the auto industry for even longer than expected. The FCA CEO suggested last year that he would retire from the automaker when its current five-year plan was complete in 2018. Now, he has tentatively extended that point out to at least 2020. "I can do this for another five years if you push me, right? Beyond that, I ain't gonna do it, and I don't want to," he said to Automotive News. That would give Marchionne a 16-year career at the top from joining Fiat in 2004 to possibly leaving FCA in 2020. Although, take the CEO's statement with a grain of salt because he has made multiple statements about the timing for his retirement. In 2012, Marchionne said he would only remain in charge until 2015, which is, well, now. Those five years might also go quite quickly because Marchionne is a busy guy with the Ferrari IPO, the attempted merger with General Motors, implementing FCA's five-year plan, and many other projects. He's already considering the next CEO, though. "My purpose in life is to find the Kuniskises of the world, the Manleys, the Biglands, the Palmers," Marchionne said to Automotive News, referencing the heads at Dodge, Jeep, FCA North America, and the company's chief financial officer, respectively. "I told them, 'One of you is going to do what I do one day. I don't know who that is, but one of you is going to do it.'" News Source: Automotive News - sub. req.Image Credit: Paul Sancya / AP Photo Chrysler Dodge Fiat Jeep Sergio Marchionne FCA fca us Mike Manley reid bigland tim kuniskis

Ferrari and FCA are officially separated

It's been a long time in the making, but it's officially happened: Ferrari is no longer part of Fiat Chrysler Automobiles. Following the Italian automaker's initial public offering, it has officially split off from its former parent company. As part of the spin-off, FCA's stakeholders will each receive one common share in Ferrari for every ten they hold in Fiat Chrysler. Special voting shares will be distributed in the same proportions to certain shareholders as well. Those shares being distributed will account for 80 percent of the company's ownership. Another ten percent was floated as part of the company's IPO, while the remaining 10 percent is held by Enzo's son Piero Ferrari (pictured above at center), who serves as vice chairman of the company. The shares will continue to be traded under the ticker symbol RACE on the New York Stock Exchange, and will begin trading this week as well under the same symbol on the Mercato Telematico Azionario, part of the Borsa Italiana in Milan. Since the extended Agnelli family headed by chairman John Elkann (above, right) holds the largest stake in FCA, expect it to continue controlling the largest portion of Ferrari shares as well. Between them, nearly half of the shares in the supercar manufacturer – and we suspect a little more than half of the voting rights – will be controlled by the Agnelli and Ferrari families, who are expected to cooperate to ensure the remaining shareholders don't attempt a takeover of the company. Similar to its former parent company, which operates out of Turin and Detroit, the Ferrari NV holding company is nominally incorporated in the Netherlands, but the automaker will continue to base its operations in Maranello, Italy. That's where it's always been headquartered, on the outskirts of Modena. For the time being, Sergio Marchionne (above, left) remains both chairman of Ferrari and chief executive of FCA – a position to which he is not unaccustomed, having previously headed both Fiat and Chrysler before the two officially merged. Related Video: Separation of Ferrari from FCA Completed LONDON, January 3, 2016 /PRNewswire/ -- Fiat Chrysler Automobiles N.V. ("FCA") (NYSE: FCAU / MTA: FCA) and Ferrari N.V. ("Ferrari") (NYSE/MTA: RACE) announced today that the separation of the Ferrari business from the FCA group was completed on January 3, 2016. FCA shareholders are entitled to receive one common share of Ferrari for every 10 FCA common shares held.

Chrysler Pacifica reportedly getting updated design and eAWD system for 2021

Chrysler is preparing to give the Pacifica and Voyager minivans a comprehensive mid-cycle update, according to a new report. Both models are scheduled to make their debut in early 2020. The Pacifica currently shares styling cues with the 200, a sedan discontinued after the 2017 model year. The team of stylists tasked with updating it returned from the design well inspired by the third-generation Town & Country released for the 1996 model year, and the 300, the firm's only sedan. Mopar Insiders described a sportier look characterized by a bigger grille, and sharper-looking headlights with LED accents. New-look rear lights connected by a light bar will round out the nip and tuck. The publication added camouflaged prototypes will hit the road in early 2020. The Voyager added to the range for the 2020 model year is a cheaper, less equipment-rich variant of the Pacifica. While it will receive the same updates as its more expensive sibling, it might not come standard with the aforementioned LEDs. Expect other minor trim differences inside and out, too, but the two nameplates will continue to share a basic design. The Dodge Grand Caravan is finally retiring in 2020, so the Voyager will become the ever-important entry point into the group's minivan range. The same report sheds light on the mechanical changes Chrysler has in store. The firm will give buyers in the market for an all-wheel-drive minivan an alternative to the Toyota Sienna by adapting Jeep's plug-in hybrid technology to the Pacifica. Called eAWD, the system consists of a battery-driven electric motor integrated into the rear axle. It delivers through-the-road all-wheel drive, meaning there's no connection between the front and rear wheels, and clever packaging makes it compatible with Chrysler's Stow and Go seats. The gasoline-electric setup will make the Pacifica a rear-wheel drive electric car on short trips, while improving its gas mileage the rest of the time. There's no word yet on what will be under the hybrid, all-wheel-drive model's hood. Jeep's upcoming Compass and Renegade hybrids use a turbocharged, 1.3-liter four-cylinder, but that sounds a little bit small for a reasonably big van developed with the American market in mind. Motorists not interested in going hybrid will likely still have the venerable 3.6-liter V6. And, whether the Voyager will be eligible to receive the new hybrid powertrain remains unclear.