2006 Chrysler Pt Cruiser on 2040-cars

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Mike Manley and Louis Camilleri appointments confirmed after shareholder votes

AMSTERDAM – Fiat Chrysler shareholders held a meeting yesterday to officially vote on the appointments of Mike Manley as CEO of FCA and Louis Camilleri as the CEO of Ferrari. Manley and Camilleri were announced as the replacements for Sergio Marchionne following the former chief's sudden death. At the same time, FCA announced that it would place John Elkann in the role of Chairman. A minute-long moment of silence was held at the start of the meeting in honor of Marchionne. According to reports, 99 percent of shareholder votes were in favor of Manley's appointment at FCA, and 98 percent were in favor of Camilleri taking the CEO role at Ferrari. Manley said at the shareholder's meeting that he will announce his organizational plans for the automaker by the end of September. "When we learned Sergio Marchionne could not return to work the board decided to appoint Mike Manley, who was the only candidate," Chairman John Elkann said. The chairman added the decision was based on succession plans the board was working on with Marchionne for his planned departure in 2019. Of Camilleri's direction at Ferrari, Elkann said, "Sergio Marchionne strengthened the foundations of Ferrari, now we can build on that for the future, which will be a bright future."Reuters contributed to this report.Related Video: Image Credit: Daniel Acker/Bloomberg via Getty Chrysler Fiat Sergio Marchionne FCA Mike Manley

Autoblog sell-it-yourself highlight: 2004 Chrysler Crossfire

Chrysler's Crossfire was the most fortuitous product of the Chrysler and Daimler-Benz merger when it launched, but also the most tormented. Clothed in Chrysler sheetmetal, the Crossfire sat atop a Mercedes platform and was propelled by an M-B drivetrain. The upscale vibe was obvious, while its outlier status on a Chrysler showroom dominated by minivans, was preordained. As Autoblog reported in May 2006, "production of the Crossfire [fell] from a peak of 35,700 in 2003 to just 12,500 last year. Introduced in 2003, the Crossfire managed about 28,000 sales in 2004, but less than 10,000 in 2005. Chrysler was so desperate to move Crossfires in late 2005 that it even engaged in a marketing stunt when it attempted to sell units on Overstock.com." Most specialized two-seaters (or 2+2 coupes) invariably run into marketing reality; once the novelty wears off, there is little sustained support for a small, impractical vehicle in modern America. Conversely, if looking for a recreational vehicle with a possible upside as an investment, you'll be hard pressed to find a more accessible example than the Crossfire. Our for-sale example, located in Randleman, NC, looks to be well maintained and has the preferred manual transmission. There are few credible guides for evaluating the price, but the $3,750 ask falls in line with a decent Miata of the same vintage and mileage. A buyer should remember that the Mercedes-sourced drivetrain of this era can be a financial swamp, but with a clean Carfax and pre-purchase inspection, Chrysler's Crossfire can provide real driving enjoyment. Related Video: Chrysler Car Buying Used Car Buying Ownership Coupe Luxury Performance chrysler crossfire

Fiat Chrysler, surprise, had to buy a lot of emissions credits

The world of carbon emissions uses some unusual units of measure. Take, for example, 8.2 million megagrams. Who needs to know how much that is? Someone at Fiat Chrysler Automobiles, that's who. FCA had to buy that many greenhouse-gas emissions credits from greener automakers, Reuters says, citing a report from the US Environmental Protection Agency (EPA). Because its vehicles' collective fuel economy continues to trail the industry average, FCA purchased the emissions credits at of the end of 2014 in order to meet US emissions regulations. About two-thirds of those credits were acquired from Toyota, while the rest were purchased from Tesla and Honda. Daimler and Ferrari, not surprisingly, were among the other automobile companies that had to acquire emissions credits in order to meet US greenhouse gas regulations. Because the price for these credits is set privately by the companies, the EPA didn't disclose how much FCA had to pay to stay on the green side. The reason for the millions FCA likely spent is because the company is making a slow progress building and selling cleaner cars. The company did increase average fuel efficiency by about one mile per gallon to almost 22 mpg for the 2015 model year, but it wasn't enough. Such a performance likely only put the automaker in a last-place tie with General Motors. The emissions credits purchased from Tesla are notable because that California-based maker of electric vehicles has long generated substantial revenue by selling various credits to its less-electrified counterparts. In 2013, Tesla sold more of California's ZEV credits than any other automaker, but Nissan took that title in 2014. While these are not the same as the EPA's GHG credits, they do offer another way to track which automakers are meeting the targets and which need help. Related Video: News Source: ReutersImage Credit: Flickr/Ian YVR Government/Legal Green Chrysler Fiat Fuel Efficiency mpg