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FCA worker in Indiana tests for coronavirus, but the plant will stay open

Fiat Chrysler Automobiles NV said Thursday that an employee has tested positive for COVID-19 at its Kokomo, Indiana, transmission plant, but the location will remain open. The Italian-American automaker said the company placed the employee and his immediate co-workers and others he may have come into direct contact with in home quarantine. The automaker said it is “deploying additional sanitization measures across the entire facility, re-timing break times to avoid crowding and deploying social spacing.” Fiat Chrysler is canceling all in-person meetings unless “business critical” and conducted meetings through video conferencing technologies. Automakers also have canceled non-essential travel. Ford, meanwhile, said its plants in North America remain unaffected. General Motors spokesman Jim Cain said the Detroit automaker has not had any cases of the coronavirus in its North American plants yet, citing such measures as reduced travel and restricted entry to plants as helping. How the No. 1 U.S. automaker would respond to a positive test would depend on the situation, he added. “You do plan to operate with a certain amount of absenteeism, but every facility has a different operating plan,” he said. The Fiat side of the FCA operation, meanwhile,  is temporarily halting operations at some plants in Italy and will reduce production rates in response to coronavirus in the country, the largest outbreak in Europe, a spokesman for the automaker said on Wednesday. FCA said in a statement it had stepped up measures across its facilities, including intensive sanitation of all work and rest areas, to support the government's directives to curb the spread of the infectious disease. "As a result of taking these actions the company will, where necessary, make temporary closures of its plants across Italy," it said. The spokesman said affected plants were Pomigliano, Melfi, Atessa and Cassino, each of them halted for two or three days between Wednesday and Saturday. FCA said that to allow greater spacing of employees at their workstations, "daily production rates will be lowered to accommodate the adapted manufacturing processes." However, a source close to the matter said FCA did not expect an impact on overall production rates. The source added that temporary closures were in no way linked to disruptions of auto parts supplies following anti-virus measures imposed by Rome all over Italy.

Fiat Chrysler cuts 2018 outlook, shares tumble on weaker quarterly profit

MILAN — The news of former Fiat Chrysler chief executive Sergio Marchionne's death arrived Wednesday moments before the group reported a surprisingly heavy drop in profit. The death of one of the auto industry's most tenacious and respected CEOs overshadowed a big selloff in Fiat Chrysler shares. FCA's scheduled second-quarter earnings presentation, led by Marchionne's successor and former lieutenant Mike Manley, began on Wednesday afternoon with a moment of silence. As eulogies flooded in, FCA shares fell as much as 10 percent as investors digested an unexpected 35 percent fall in net profit, well below market forecasts. Marchionne rescued Fiat and Chrysler from bankruptcy after taking the wheel of the Italian carmaker in 2004 and he multiplied Fiat's value 11 times through 14 years of canny dealmaking. He was due to step down at FCA in April next year. "The best way to honor his memory is to build on the legacy he left us, continuing to develop the human values of responsibility and openness of which he was the most ardent champion," Chairman John Elkann added. On Saturday, FCA named Jeep division head Mike Manley, 54, as head of the world's seventh-largest carmaker, saying the Briton would execute a strategy that Marchionne had outlined in June. FCA has said Manley will work to ensure a "strong and independent" future for the group. Underlining the task facing Manley, FCA cut its full-year earnings outlook after the weaker-than-expected quarterly earnings. Having to deliver the bad news four days into his new job, Manley blamed the result on a weaker performance in China, a market that represents one of new CEO's immediate headaches. "The biggest challenges we face and frankly we're going to continue to face ... are all focused in China," Manley said. FCA has yet to make any significant inroads in China. In Marchionne's June plan, FCA pledged to boost production of sport utility vehicles and invest in electric and hybrid cars to double operating profit by 2022. It unveiled bold targets for Jeep, FCA's profit engine. FCA said adjusted earnings before interest and tax (EBIT) for the April-June period fell 11 percent to 1.7 billion euros ($1.99 billion), compared with 2 billion euros in a Reuters poll of analysts. Chinese demand slumped in the quarter ahead of a July cut in import duties, resulting in higher incentive spending and an increase in unsold vehicle stocks that "particularly affected Maserati," Manley said.

Sergio rethinks FCA-GM merger idea, dismisses critics

After many public overtures, Fiat Chrysler Automotive CEO Sergio Marchionne has claimed his company won't be making a hostile takeover bid for General Motors. This is despite widespread speculation that FCA's desire to merge was motivated by its allegedly dire situation. As one unnamed GM exec who spoke to Automotive News earlier this year put it, "Why should [GM] bail out FCA?" "We are not choking. We are in relatively decent shape," Marchionne told journalists attending an FCA shareholder meeting in Amsterdam, AN reports. "We have been publicly rebuffed, we have been rejected and you cannot force these things. I don't want to. At the moment, we have no intention to do anything hostile." Instead of focusing on merging with GM, or any other partners for that matter, FCA will refocus on implementing its ambitious five-year investment plan, which would see it dump $52 billion into its various brands, with a particular focus on Alfa Romeo, Maserati, and Jeep. So far the attempt has largely been unsuccessful, especially as it relates to the Italian brands. Earlier this week, additional reports emerged that claimed Alfa was pushing back the Giulia and an unnamed CUV while reassigning resources to updated versions of the Giulietta and MiTo hatchbacks. This is not the first time we've heard about trouble for the Giulia, of course. For Masearti, though, it was the first we'd heard of delays for Alfieri sports car, which allegedly won't appear in 2016, as promised. We can expect a proper breakdown of FCA's adjusted plans when Marchionne and Company reveal an updated product slate next month. Related Video: The video meant to be presented here is no longer available. Sorry for the inconvenience. News Source: Automotive News - sub. req.Image Credit: Paul Sancya / AP Alfa Romeo Chrysler Fiat GM Jeep Maserati Sergio Marchionne FCA