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Fiat set to invest $12B on new models, stop Euro losses in 3 years

Naturally, you'd expect a massive automaker like Fiat to have an in-depth plan to exit the current European-market doldrums, and you'd expect that plan to include plenty of new vehicles to attract those precious buyers that still remain despite the financial downturn. And you'd be right, though Fiat does seem to have a few unexpected twists up its corporate sleeve.
Perhaps the biggest shocker is a report that Fiat will completely drop the Punto, a car with mass-market appeal aimed at small-car buyers cross-shopping the popular Volkswagen Polo. Its replacement will be a five-door Fiat 500 aimed at upmarket buyers (sounds awfully similar to the 500L) that will be built in Poland. Lower-end customers will reportedly be served by variants of the Fiat Panda.
Borrowing a page from the BMW, Daimler and Volkswagen playbook, reports Automotive News, Fiat is said to have plans to reignite production at its Italian factories by retooling them to build high-end vehicles from Maserati and Alfa Romeo. These will be marketed as premium products, built by skilled Italian workers (who are paid wages that are 75-percent higher than those building Fiats in Poland), and will be sold around the world.

Pete Grady retiring from Chrysler, Maserati

Fiat Chrysler Automobiles is about to lose one of its top executives as the president of Maserati North America, Pete Grady, has announced his retirement. A lifelong automotive industry exec, Grady joined the American Motors Corporation back in 1984 after graduating from John Carroll University in his native Ohio. After AMC was bought out by Chrysler, Grady started rising through the ranks under the Pentastar as a sales manager. He was named vice president of network development and fleet operations in 2009 and was shortly thereafter put in charge of the Chrysler Group's dealer network. He continued to hold that position when he was named last year as the top man at Maserati North America. Grady will continue to hold responsibility for Chrysler's dealer network until his retirement takes effect on March 31, 2015. His position as head of Maserati's American office, however, will pass to the Trident marque's global sales chief Christian Gobber, who will hand off responsibility for the Chinese region to Mirko Bordiga but maintain his global portfolio. CHANGES AT THE TOP IN MASERATI NORTH AMERICA AND MASERATI CHINA Monday, 8 December 2014 – Effective January 1st, 2015, Christian Gobber will be assigned responsibility for Maserati North America, replacing Pete Grady, who has announced his intent to retire effective March 31st, 2015. Christian Gobber will maintain his responsibility for Maserati Global Sales. Effective January 1st, 2015, Mirko Bordiga will join Maserati and will be assigned responsibility for Maserati China, replacing Christian Gobber. Maserati further strengthens its sales and commercial structure in the two main markets for the Trident brand. Maserati CEO Harald Wester thanks Pete Grady for his dedication and achievements at the helm of Maserati in North America, and wishes all the best to Christian Gobber and Mirko Bordiga in their new positions. ### Chrysler Group's Grady to Retire December 5, 2014 , Auburn Hills, Mich. - Chrysler Group today announced that Peter Grady has stated his intention to retire, effective March 31, 2015. In the interim, Grady will retain his current responsibilities as Vice President Dealer Network Development and continue as a member of the Company's NAFTA Leadership Team. In a move announced earlier, Christian Gobber will assume responsibility for leading Maserati North America, effective January 1, 2015.

Maserati Grecale announced as new compact crossover set to debut next year

Maserati is on a roll right now, and the Italian brand has just teased another new model: Grecale. Judging by the silhouette (and the information Maserati provided), it’s a smaller SUV than the Levante. Think Porsche Macan or BMW X3 size. Its stubby nose, small body and short overhangs all make it appear much smaller. The name “Grecale” is derived from the name for the north-east wind from the Mediterranean Sea. It seems Â…. fine. It sounds a lot better if you say it with Italian pronunciation, as opposed to an American gre-kale. Naming the Grecale after a wind is normal for Maserati. The Mistral, Ghibli, Levante, Bora, Merak and Khamsin are all named after famous winds, too. One final detail Maserati provided is the most telling of all, though. ItÂ’ll be built at FCAÂ’s Cassino, Italy, plant, which is the current home of Giulia and Stelvio production. The takeaway here is that itÂ’ll be a Stelvio-based crossover riding on the Giorgio platform. From a performance standpoint, that is fantastic. The Stelvio Quadrifoglio is one of the best-driving crossovers in the world, and a Maserati version of this car sounds like a recipe for success. WeÂ’re not sure how much the two will share at this stage, but now that Maserati has a firecracker of a V6 with the Nettuno, it can use its own engine for propulsion. Maserati claims the “Grecale is destined to play a leading role for the brand,” so weÂ’re expecting to be impressed when it debuts. ThereÂ’s more than just the Grecale to look at here, though. Maserati also flashed a silhouette of the next Gran Turismo that is coming in 2021. Most of it is left to our imagination, but weÂ’re happy to see Maserati is revamping its whole lineup. The Grecale is truly the big news of the day, especially since crossovers continue to be a seriously hot commodity. Watch out for a debut next year sometime. Related Video: