Fiat 500 1.4 I4 Engine Power Roof All Power Full Factory Warranty We Finance on 2040-cars

Auto blog

Marchionne to make Alfa Romeo a separate company within Fiat

According to a report in Automotive News that quotes "people familiar with the matter," the next big play in Fiat CEO Sergio Marchionne's plan for Alfa Romeo is to break it off from Fiat Group Automobiles and set it up as a separate company within the Fiat empire, giving it the same structure as Ferrari and Maserati. The idea, say the sources, is that a transparent, standalone Alfa Romeo that has to justify its every move could clearly prove its success in the public financial statements it would have to report, finally achieving Marchionne's aim of making Alfa Romeo "a credible business proposition."
That, of course, assumes that Alfa Romeo will make a success of it. The brand hasn't made a profit in any year of Marchionne's decade at the helm; sales last year fell to numbers not seen in almost half a century and its new product offensive might not include the two vehicles currently responsible for 99 percent of its sales. We're told that the brand's six new models will begin arriving in 2016 - a roadster, a midsize sedan and large sedan, a compact SUV and large SUV, and a large coupe.
Marchionne aims to expand Alfa's global appeal in several ways, the first by stressing that they are Italian products that 'belong' to Italy. This is the stance that appears to have put the kibosh on the roadster twinned with the coming Mazda MX-5/Miata. Alfa Romeos will all be made in their home country, and if they take off they'll help bandage Fiat's problem with underused plant capacity, a bugbear that is just as problematic culturally and politically as financially. Top-tier trims would use V6 engines developed by Ferrari, and global access would get a boost by selling Alfa Romeos in Jeep's 1,700 international dealerships.

European new car sales drop nearly 8% in first half of 2019

PARIS — European car sales dropped 7.9% in June, led by bigger declines for Nissan, Volvo and Fiat Chrysler (FCA), according to industry data published on Wednesday. Registrations fell to 1.49 million cars last month from 1.62 million a year earlier across the European Union and EFTA countries, the Brussels-based Association of European Carmakers said in a statement. Calendar effects resulted in two fewer sales days in most markets, accentuating the decline. Registrations for the first half closed 3.1% lower, ACEA said. For European carmakers, weakening demand at home compounds the pressure from a sharper contraction in China and emerging markets that may yet bring more profit warnings. NissanÂ’s aging model lineup contributed to a 26.6% June sales slump while Volvo Cars, owned by ChinaÂ’s Geely, saw deliveries tumble 21.7%. Registrations also fell 13.5% last month at FCA, 10.1% at BMW, 9.6% at Volkswagen Group and 8.2% for both Mercedes parent Daimler and FranceÂ’s PSA Group. The Peugeot makerÂ’s domestic rival Renault suffered less, posting a 3.9% decline. By the Numbers BMW Chrysler Fiat Nissan Volkswagen Volvo Peugeot Renault

Fiat Chrysler profit up as it closes in on retiring its debt

MILAN — Fiat Chrysler Automobiles reduced its debt by more than expected in the first quarter, putting the carmaker well on course to become cash positive later this year. Chief Executive Sergio Marchionne expects to cancel all debt during 2018 — possibly by the end of June — and generate around 4 billion euros ($5 billion) in net cash by the end of the year. Marchionne has said that forecast does not include any one-off measures, nor the impact of the planned spinoff of parts maker Magneti Marelli, which he hopes to execute by early 2019. The world's seventh-largest carmaker said on Thursday net debt had fallen to 1.3 billion euros ($1.6 billion) by the end of March, well below a consensus forecast of 2.6 billion euros in a Thomson Reuters poll of analysts. FCA said capital spending fell 900 million euros in the quarter due to "program timing," which analysts said implied higher investments for the rest of the year. The Italian-American group said first-quarter operating profit rose 5 percent to 1.61 billion euros, below a consensus forecast of 1.74 billion, as a weaker performance from its North American profit center weighed. Shipments there were higher due to the new Jeep Wrangler and Compass models. But currency moves hit revenues and earnings, and costs related to new product launches added to the pressure. FCA's shift to sell more trucks and SUVs boosted margins yet again in North America to 7.4 percent from 7.3 percent in the same quarter a year ago, although they were down from the 8 percent recorded in the preceding three months. Marchionne, preparing to hand over to an internal successor next year, is close to his goal of ending a margin gap with larger U.S. rivals General Motors and Ford. The 65-year-old has said becoming debt free and being able to compete on a par with U.S. peers would mean FCA no longer needed a partner to survive and could well succeed on its own. The CEO has previously said tying up with another carmaker would help to meet the huge costs in an industry investing in electric vehicles and automated driving. FCA shares fell immediately after the results, but recovered to trade up 3 percent at 19.71 euros by 1150 GMT, outperforming a 0.4 percent rise in Europe's blue-chip stock index. ($1 = 0.8214 euros) Reporting by Agnieszka FlakRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.