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For some, getting a Fiat 500e last week was almost free

Auto-racing clubs know a thing or two about moving fast. And a couple of them out in California appeared to do just that when a bunch of incentives for the Fiat 500e electric vehicle added up to a pretty sweet deal. Actually, a borderline free one. Green Car Reports was kind enough to do the math on the calculation of an $83-a-month, three-year lease deal on that included a $2,100 perk and required an $11,000 downpayment on the $32,000 car. California and federal government incentives for EVs cut that downpayment down to $1,000 out of pocket once the incentives ($7,500 from the feds, $2,500 from the state) were factored in by the leasing company. Then, Fiat-Chrysler was throwing in another $1,000 for folks who were leasing a car from another car company, hence the freebie. That means some lucky people, at least temporarily, were able to work basically a zero-downpayment agreement for a three-year lease on a car whose monthly payment is the equivalent of about two full tanks of gas. Once word of those perks got around to some California racing clubs, about 100 500e vehicles to be moved off of California lots during the past week or so. Plugged in, indeed. Related Videos: Featured Gallery 2013 Fiat 500e: Review View 40 Photos News Source: Green Car Reports Green Chrysler Fiat incentives fiat 500e

Fiat Chrysler execs, salaried employees taking pay cuts during coronavirus pandemic

Fiat Chrysler Automobiles' top executives and salaried workers around the globe will take pay cuts in an act of "shared sacrifice" brought on by the coronavirus pandemic that has shuttered the automaker's plants in Europe and North America, according to a company memo seen by Reuters. Chief Executive Officer Mike Manley said in the memo he will take a 50 percent pay cut for three months starting April 1, while Chairman John Elkann and FCA's board of directors will forego the remainder of their 2020 compensation. FCA said most global salaried employees will be asked to take a temporary 20 percent pay cut. "Protecting the financial health of the company is everyone’s responsibility and naturally starts with myself and the leadership of FCA," Manley wrote. Members of the automaker's group executive council will also take a 30 percent pay cut, according to the memo. Last week, No. 1 U.S. automaker General Motors said it planned to keep its plants closed indefinitely and was reducing the pay of salaried employees and executives and suspending some future product programs to conserve cash. GM's chief executive and chief financial officer issued a stark warning to company employees in an internal video, saying that "significant austerity measures" were needed to preserve the companyÂ’s long-term viability. Ford also said it was temporarily cutting top executivesÂ’ salaries.  

GM, Ford and Fiat Chrysler set target date for restarting production

The parking lot stands empty at Fiat Chrysler's sprawling Belvidere, Ill., assembly plant. / Getty Images   General Motors, Ford and Fiat Chrysler Automobiles are targeting May 18 to resume some production at their U.S. factories after shutting down plants in March due to the coronavirus outbreak, the Wall Street Journal reported. Executives from the companies in recent days tentatively settled on the timeline following talks with United Auto Workers (UAW) leaders and Michigan Gov. Gretchen Whitmer's office, the Journal said on Monday, citing people familiar with the plans. The head of the UAW union last week warned it was "too soon and too risky" to reopen auto plants and Michigan's economy in early May, citing risks to workers. The companies are working with the union on drawing up safety protocols for reducing exposure risk for workers, but haven't finalized those terms yet, according to the WSJ report. GM, Ford, Fiat Chrysler and UAW did not immediately respond to Reuters requests for comment.   Plants/Manufacturing Chrysler Fiat Ford GM coronavirus