2014 Chrysler Town & Country Touring on 2040-cars

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Fiat Chrysler's Marchionne being treated in Zurich

ZURICH — Fiat Chrysler Chief Executive Sergio Marchionne was being treated in a Zurich hospital on Sunday with a serious illness after suffering complications following shoulder surgery. A Fiat Chrysler spokesman confirmed Marchionne was in Zurich's University Hospital, one of Switzerland's largest medical centers. The FCA spokesman did not give the 66-year-old Italian-Canadian executive's condition or say in which of the hospital's 43 divisions he was being treated. Italian news outlets said he has been in a coma since Friday, is breathing with the help of a ventilator, and that attempts to have him breath on his own were unsuccessful. Fiat Chrysler named its Jeep division boss Mike Manley on Saturday to take over immediately from Marchionne, who had been due to step down next April. SGS, the Swiss logistics services company, also announced on Sunday that it had named a new acting chairman to take over for Marchionne, since his illness prevented him from fulfilling the role's obligations. SGS said in a statement it was "deeply saddened" by the news, as did Lausanne, Switzerland-based Philip Morris International, where Marchionne is also on the board. Marchionne was credited with rescuing Fiat and Chrysler from bankruptcy after taking the Italian carmaker's wheel in 2004. On Saturday he was also replaced as chairman and CEO of Ferrari and chairman of tractor maker CNH Industrial — both spun off from FCA in recent years. In additional management changes linked to Marchionne's illness, Ferrari named FCA Chairman and Agnelli family scion John Elkann as new chairman and Louis Camilleri becomes chief executive. Reporting by John Miller in ZurichRelated Video: Image Credit: Reuters Chrysler Ferrari Fiat US

Junkyard Gem: 1990 Chrysler New Yorker Landau Mark Cross Edition

The hallowed American tradition of the cushy, softly-sprung sedan with padded vinyl landau roof and puffy upholstery had its heyday in the 1960s and 1970s, but you could buy such cars well into the 1990s. Even after Lee Iacocca's modern front-wheel-drive K-Cars appeared in the early 1980s, "traditional" Detroit luxury cars based on the K platform continued to be built by Chrysler for quite a while. A great example of this is the 1983 to 1993 Chrysler New Yorker, which managed to mix up the philosophical concepts behind the plush-yet-affordable 1970 Chrysler Newport with the space-efficient, lightweight Iacocca Era in one machine. I found one of these, a 1990 New Yorker Mark Cross Edition in a Northern California yard, and I wish to share its resplendence with you as today's Junkyard Gem. Lee Iacocca wanted Chrysler-badged cars to seem like Mercedes-Benzes (a little earlier, Ford had the same idea with the Granada), but at one-third the cost, and so we saw these "crystal-pentastar" hood ornaments for quite a few years in the middle 1980s through early 1990s. While Ford had deals with Cartier, Pucci, Bill Blass and Givenchy to sell "designer edition" cars, Chrysler went with leather-goods king Mark Cross. The base MSRP for the 1990 New Yorker Landau was $19,509, and the Mark Cross Edition package tacked on an additional $2,069 to that cost (that's like getting a $4,565 option package on a $43,050 car, when figured in 2022 dollars). For that price, you got power everything: a digital instrument cluster, a bunch of extra body moldings and interior goodies, and throne-like seats swathed in vinyl and Mark Cross leather (which, I'm just guessing, could not be distinguished from the famous (infamous?) Corinthian Leather of this car's Cordoba predecessors). Padded landau roofs were big in the 1970s and fairly deep into the 1980s, but had long fallen out of favor with the under-80 set by 1990. Still, Chrysler was proud of its landaus, and this car has big badges inside and out to prove it. By 1990, most luxury cars came standard with at least an AM/FM stereo radio, and that's what this car has. If you wanted to play cassettes, you'd have to pay at least an additional $254 (about $560 today). The 1990 New Yorker belonged to the extended K-Car family, living on the same platform as the very similar-looking Dodge Dynasty. The only engine available for this car in 1990 was the 3.3-liter Chrysler V6, rated at 147 horsepower.

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