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Marchionne now considering 'Plan B' partners for FCA merger

Okay Sergio, just stop. With the sting of rejection from General Motors CEO Mary Barra still fresh, Fiat Chrysler Automobiles CEO Sergio Marchionne is moving on and trying to find another automaker to merge with. FCA may not be giving up hope on a merger with GM, but that doesn't mean it isn't at least considering alternatives. Sergio's so-called "Plan Bs" include the Volkswagen Group, as well as smaller Asian outfits, like Mazda, Honda, Suzuki, and Hyundai. Bloomberg reports that France's beleaguered PSA Peugeot Citroen could as a sort of "fallback" option due to its relative lack of volume, an unidentified source claimed. There are, of course, problems with each option. According to Bloomberg, Volkswagen expects complete control of a company, but the Agnelli family, which holds a large portion of FCA stock, is loathe to relinquish its stake in the company. On top of that, VAG just isn't looking to make a deal right now. Mazda, meanwhile, is enjoying a new partnership with Toyota and Suzuki is partially owned by VW. Honda and Hyundai have never expressed any interest in a partnership with a western automaker. That kind of just leaves the French then, but even that remains a long shot. As Bloomberg tells it, PSA boss Carlos Tavares is still working on a turn-around plan, and would want at least another six months to execute before even considering a deal with FCA. And even then, Tavares hasn't given any indication that he's considering a pairing. News Source: BloombergImage Credit: Paul Sancya / AP Chrysler Fiat GM Honda Hyundai Mazda Suzuki Citroen Peugeot Sergio Marchionne FCA Mary Barra psa peugeot citroen

Fiat says all Abarth models to be electric from 2024

Fiat didn’t have the big, bold product announcements in Stellantis EV Day that Ram, Dodge and Jeep did, but the Italian company still gave us a little something to chew on.  For starters, Fiat says all future Abarth products will be electric from 2024 and onward. There are currently no Fiat Abarth products sold in the U.S., but the news could still be relevant to us as it concerns future Abarths. News that future Abarths will be electric by a certain time is essentially confirmation that such a vehicle or vehicles are on the way, so expect an electric Abarth sometime around 2024. Consider the 500 Abarth and 124 Abarth to be the last two gasoline-powered Abarth-branded vehicles to be sold in the U.S. Seeing the closeness of the 2024 cutoff, theyÂ’ll also likely be the last gasoline Abarth models sold globally, too. The EV promise extends further than just Abarth models, though. Fiat previously said it would become an EV-only brand by 2030, but the transition was laid out with greater specificity today. By 2024, every model line in FiatÂ’s lineup will have a full-BEV option. Fiat doesnÂ’t have a massive lineup, but it means the company will need to electrify models beyond the new 500 that is already electric. Lastly, Fiat promises that all of its commercial vehicles will offer an electric option starting in 2022, and the company is counting fuel cell vehicles as part of this lineup. The commitment to go all-EV by 2030 still stands, though Fiat now says it could get there any time between 2025-2030. Fiat says the switchover will be made whenever it can sell EVs for the same price as their combustion engine equivalents, as it wants to keep costs in a place where your typical Fiat owner can still buy its vehicles. Stellantis EV Day coverage: Dodge will launch the 'world's first electric muscle car' in 2024 Fully electric Ram 1500 will begin production in 2024 Jeep will have 4xe plug-in hybrid models across the lineup by 2025 Stellantis teases mystery electric Chrysler concept Stellantis previews 4 electric platforms: Here's how they'll be used Fiat says all Abarth models to be electric from 2024 Opel Manta E will be the electric revival of the classic German coupe Stellantis says its 2021 performance has been better than expected Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Chrysler banks $507 million in Q2, trims 2013 earnings forecast

Chrysler has some good news and some bad news. First, profits were up 16 percent over the second quarter of 2012, bringing the Auburn Hills, Michigan-based manufacturer $507 million on the back of strong demand for trucks and SUVs (a recurring theme this quarter, particularly in the US). Q2 revenue was up as well, from $16.8 billion in 2012 to $18 billion in 2013. The bad news is that the Pentastar's overall earnings forecast for net income in 2013 has been trimmed from $2.2 billion to between $1.7 and $2.2 billion, according to Automotive News.
In addition to the adjusted net income forecast, Chrysler tweaked its operating profit from $3.8 billion to between $3.3 and $3.8 billion. This has gone largely unexplained by Chrysler, perhaps hoping the news of a three-percent increase in its transaction prices for Q2 will allow it to sweep this adjustment under the rug.
The star of the show for Chrysler has been its US sales, which saw a 10-percent jump, both bettering the industry average of eight percent and improving over the same stretch of 2012. As with the increase in transaction prices, Chrysler has the new Ram pickup and Jeep Grand Cherokee to thank. Perhaps most worrying from this report, though, is that every brand in the automaker's stable saw an increase in sales... except for the Chrysler brand itself.