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FCA denies report it's pulling Chrysler brand from Japan

TOKYO - Fiat Chrysler Automobiles denied it had decided to pull the plug on the Chrysler brand in Japan, after local media reported it was planning to stop selling the US cars in the country as early as next year following years of poor sales. "Although FCA Japan has already announced its intention to concentrate its resources on the Jeep brand ahead, no decisions have been made regarding (the) Chrysler brand," the automaker said ion Monday. The Nikkei business daily reported that the European-US automaker, which also sells the Jeep, Fiat, Alfa Romeo, and Abarth brands in Japan, was close to deciding to throw in the towel on the Chrysler brand, which posted sales of less than 300 vehicles in 2016, having fallen steadily since around 2000 and are about a tenth of what they were a decade ago. FCA sells only one Chrysler model in Japan, the full-size 300s sedan, which is sold at the company's Jeep dealerships. FCA's Fiat brand, which includes smaller models, and its Jeep brand have been growing in the country. Last year they sold around 6,700 and 9,400 units, respectively, making them top 10-selling foreign branded vehicles in the Japanese market. However, foreign cars constitute a small portion of the total Japanese auto market, which is dominated by domestic brands. Last year, 295,000 foreign-branded new cars were sold in the country, roughly one-tenth of total new vehicle sales. Reporting by Naomi TajitsuRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery 2017 Chrysler 300S Sport Appearance Package: New York 2016 View 12 Photos Auto News Chrysler Fiat Jeep Sedan FCA

GM cites evidence of offshore accounts, wants FCA racketeering lawsuit revived

General Motors on Monday asked a U.S. federal judge to reinstate a racketeering lawsuit against Fiat Chrysler Automobiles NV (FCA), saying it has new information on foreign accounts used in an alleged bribery scheme involving its smaller rival and union leaders. In its filing to U.S. District Judge Paul Borman, GM says the scheme, which it alleges occurred between FCA executives and former United Auto Workers (UAW) leaders, "is much broader and deeper than previously suspected or revealed as it involved FCA Group apparently using various accounts in foreign countries ... to control corrupt individuals by compensating and corrupting those centrally involved in the scheme to harm GM." Last month, Borman threw out the racketeering lawsuit, saying the No. 1 U.S. automaker's alleged injuries were not caused by FCA's alleged violations. GM alleged FCA bribed UAW officials over many years to corrupt the bargaining process and gain advantages that cost GM billions of dollars. GM was seeking "substantial damages" that one analyst said could have totaled at least $6 billion. "These new facts warrant amending the court's prior judgment, so we are respectfully asking the court to reinstate the case," GM said in a statement. "FCA will continue to defend itself vigorously and pursue all available remedies in response to GM's attempts to resurrect this groundless lawsuit," FCA said in a statement. In affidavits accompanying GM's filing, attorneys for the automaker said "reliable information concerning the existence of foreign bank accounts" used in the alleged scheme had only come to light recently. "The UAW is unaware of any allegations regarding illicit off-shore accounts as claimed," by GM, the UAW said in a statement. "If GM actually has substantive information supporting its allegations, we ask that they provide it to us so we can take all appropriate actions." Earnings/Financials Government/Legal UAW/Unions Chrysler Fiat GM

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