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Fiat to list on New York Stock Exchange?

Citing the ever-nebulous "two sources close to Fiat," Reuters is reporting that the Italian automaker and owner of the Chrysler brand is likely to list itself on the New York Stock Exchange. The move could reportedly happen as soon as 2015, marking the end, at least in the minds of investors, of Fiat's 115-year base in Turin, Italy.
The Italian government is not likely to react favorably to Fiat's potential move from Italy to the United States, despite initially positive reactions to Fiat's landmark final purchase of Chrysler, the third-largest automaker in the US. Fiat spent $3.65 billion to buy out the 41.46-percent stake in Chrysler that had been owned by the United Auto Workers' VEBA trust fund.
With little sign of a swift European recovery, Fiat has little choice but to focus on markets outside its traditional home, and a listing in New York could potentially be a boon for investors. According to International Strategy and Investment analyst George Galliers, speaking to Reuters, "People [would be] more likely to think of the entity in the same context as they do Ford and GM" if it were listed on the NYSE.

Marchionne defends FCA recalls, says Wrangler won't be all-aluminum

FCA CEO Sergio Marchionne recently received the 2015 Industry Leadership Award from the SAE Foundation. While speaking with the press after the event, the boss discussed his thoughts about some key issues regarding the company's future. One of the big regulatory issues facing FCA at the moment is the upcoming public hearing by the National Highway Traffic Safety into the automaker's handling of 20 recalls. Marchionne has no intention of testifying there, according to The Detroit News. The CEO also thinks that the government regulator is becoming much more aggressive in how it handles safety campaigns, but the Feds aren't necessarily doing a very good job of communicating that. "We need to work with the agency in a very cooperative and open way to make sure that we can meet their requirements for their new stance," he said, according to the newspaper. "We have no option but to comply with their requirements and we will. I have nothing to hide in this process. I just want clear rules." Marchionne also dropped the news that the company has changed its mind about making the next Jeep Wrangler totally from aluminum. "Because of the difference in cost, not just the new material but the actual assembly process, I think we can do almost as well without doing it all-aluminum," he said to The Detroit News. This seemingly opens the door for the model to remain in production in Toledo, OH, but only just a crack. Marchionne says that the new Wrangler would still use a large amount of aluminum, and there are "at least" two sites in contention for the assembly. The company doesn't have too long to make a decision because the model reportedly launches in 2017.

Watch as U.S. auto industry springs back to life after lockdown

WARREN, Michigan — The Detroit Three automakers and their suppliers began restarting assembly lines on Monday after a two-month coronavirus lockdown in a slow revival of a sector that employs nearly 1 million people in the United States. On a chilly and damp Monday morning, hundreds of workers at Fiat Chrysler Automobile's (FCA) truck plant in Warren, Michigan, began lining up before 4 a.m. to start the 5 a.m. shift. Signs overhead read: "Let's restart." "I'm a little nervous," said Larry Smith, 53, of New Baltimore, who works on wheel alignment away from the assembly line. "They made all the precautions (and) they've done everything they can to prepare us ... I'm trusting in God." Detroit automakers on Monday said there were no issues with absenteeism as the plants opened. FCA reopened four U.S. assembly plants on Monday, including Warren Truck, on a single shift, as well as four parts plants. The reopening of car plants will be a closely watched test of whether workers across a range of U.S. industries can return to factories in large numbers without a resurgence of infections. General Motors Co, Ford Motor Co and FCA have all been preparing for weeks to reopen their North American factories in a push to restart work in an industry that accounts for about 6% of U.S. economic activity. Investors welcomed the gradual restart, sending GM's shares up more than 9% on Monday. FCA shares rose 7.3%, while Ford's were up 6.7%. Auto companies have redesigned assembly lines and retrained workers in an effort to avoid coronavirus outbreaks that could derail production again. Workers entering factories on Monday were checked by temperature monitors. Face masks or shields are standard protective equipment. Jobs such as installing seat belts that used to require two or more workers to get close together inside a vehicle have been redesigned to keep people a safe distance apart. Plastic screens have been installed along assembly lines to separate workers leaning in to the engine compartments of vehicles. Break areas have been reconfigured to keep workers six feet apart. The Detroit automakers have collaborated with each other and with the United Auto Workers to develop common coronavirus safety practices. Other automakers in the United States are adopting similar safety measures.