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If Tesla Model 3 is successful, Sergio Marchionne will copy it

Fiat Chrysler CEO Sergio Marchionne hasn't hidden his disdain for electric vehicles, but he would copy the Tesla Model 3 if it is successful, according to Automotive News Europe. If Elon Musk "can show me that the car will be profitable at that price, I will copy the formula, add the Italian design flair and get it to the market within 12 months," Marchionne told Automotive News Europe during FCA's annual meeting in Amsterdam. In terms of pre-orders, the Model 3 is a success. Musk tweeted on April 7 that the company had over 325,000 reservations for the sedan, which he estimated were worth around $14 billion. The car will start at $35,000 before incentives. Marchionne, however, isn't optimistic Tesla can actually make the electric sedan work financially. "I'm am not surprised by the high number of reservations but you have then to build and deliver them and also be profitable," he told ANE. The FCA boss is a noted skeptic of EVs. In 2012, he said that the company only built the 500e because of California's zero-emissions vehicle mandate and to give engineers experience with the technology. He doubled-down in 2014 when he claimed FCA lost $14,000 on each 500e and said he would rather people didn't buy them. More recently, he infamously said "you'd have to shoot me first," before he'd allow a fully electric Ferrari. Related Video:

Fiat Chrysler completes sale of Magneti Marelli

Fiat Chrysler Automobiles completed its sale of components maker Magneti Marelli to CK Holdings Co., Ltd., the holding company of Calsonic Kansei Corporation. The Japanese parts supplier paid $6.5 billion (5.8 billion euros), which is a bit less than the $7.1 billion deal that was initially announced in October of 2018. According to Reuters, the price was adjusted based on Magneti Marelli's estimated financial position as of the closing date. The influx of cash allowed FCA to offer a special cash distribution to its shareholders for the first time in a decade. At ˆ1.30 per share, the payout corresponds to a total distribution of approximately ˆ2 billion. The dividend will pay out on May 30. "FCA remains committed to Magneti Marelli, with the new company continuing as a key supplier," FCA CEO Mike Manley said in a statement. "This sale also recognizes the full strategic value of Magneti Marelli, improving our financial position, delivering value to our shareholders and allowing us to enhance our focus on our core product portfolio." Earnings/Financials Chrysler Fiat magneti marelli

2021 Chrysler Pacifica gets fresh face and brings back all-wheel drive

The rumors were true, the 2021 Chrysler Pacifica has brought back all-wheel drive as an option after it disappeared from Chrysler minivans in 2004. Not only that, buyers don't have to choose between having more traction or more cargo flexibility, as both features can coexist on one van. And to herald the changes, Chrysler has also updated the styling, features and trim line. Of course the all-wheel drive is the biggest change, and according to Chrysler representatives we talked to, it was something that was planned for since the launch of this generation of Pacifica. When the platform was developed, they wanted to make sure that if demand called for bringing it back (and it did, more on that later), that it wouldn't be difficult to implement, and that the fold-into-the-floor Stow 'N' Go second-row seats would still fit. Some changes were necessary, such as rerouting the exhaust and tweaking the design of the gas tank, which retains the same volume as a front-drive van. The all-wheel-drive system itself is capable of routing power completely to the rear if necessary, and the driveshaft and power takeoff unit can disengage for fuel savings. It's controlled entirely automatically, taking into account the severity of driver steering and throttle inputs, outside temperature, use of windshield wipers and detection of wheel slip. Besides the extra drive wheels, the 2021 Pacifica gets a reworked nose and hatch. The fascia is much more aggressive with its taller, frowning main grille. The headlights have new LED running light designs. Around at the back, the taillights are new full-width units. The interior has more subtle but still noteworthy changes. All Pacificas now have a 10.1-inch infotainment display as standard, and they're the first FCA products to use the Uconnect 5 operating system. The system brings several upgrades including full Amazon Alexa integration, wireless Apple CarPlay and Android Auto, multiple driver profiles, and more, which you can read about here. Pacificas are also available with a new center console that offers more covered storage space, but also gives the front seats a more cosseted feel like in a car or a crossover. They all differ on overall length toward the back and what kind of arm support they provide. Chrysler also offers something called the FamCam, which gives the driver and front passenger the ability to keep an eye on the kids with cameras controlled from the touchscreen.