2012 Fiat 500 2dr Hb Sport on 2040-cars

Auto blog

Trucks, SUVs — and Camry — shine in mixed U.S. January vehicle sales

DETROIT — Automakers posted mixed U.S. new vehicle sales data for January, with American consumers continuing to abandon passenger cars for the larger pickup trucks, SUVs and crossover models that manufacturers also love because they are far more profitable. Total industry auto sales for the month rose 1 percent versus January 2016. According to Autodata Corp, which tracks industry sales, the seasonally adjusted annualized rate (SAAR) of U.S. car and light truck sales in January fell to 17.12 million units from 17.44 million a year earlier. Analysts polled by Reuters had expected a January SAAR of 17.2 million units. U.S. auto industry sales fell 2 percent in 2017 to 17.23 million vehicles after hitting a record high in 2016 and are expected to drop further in 2018 despite a solid economy. Interest rates are rising and around 4 million late-model used cars will return to dealer lots this year to compete with more expensive new ones. Automakers have used consumer discounts to boost sales, a growing concern for observers who say this undermines resale values and profits. Discounts declined in January, but remained above 10 percent of manufacturers' recommended prices. ""I think the industry has accepted that (sales) volumes will fall somewhat in 2018 ... and I don't think the industry is going to go over the cliff with insane incentives," Mike Jackson, chief executive officer of AutoNation Inc, told Reuters after his company, the largest U.S. auto retail chain, posted a higher quarterly net profit. Mark Wakefield, head of the North American automotive practice for consultancy AlixPartners, had a gloomier perspective. The industry's less-than-stellar sales performance for January showed "we are now past the peak," he said. "Automakers are now selling the deal instead of the vehicle," he said. "That's a tough spot to be in because that treadmill is hard to get off once you're on it." General Motors January sales rose 1.3 percent, driven by a 16 percent rise in fleet sales. Sales to consumers fell 2.4 percent. GM posted strong gains for models such as the Silverado pickup truck and Equinox crossover model, while its passenger cars continued to struggle. Ford The Blue Oval posted a 6.6 percent sales decline for January, with retail sales down 4.3 percent. Sales of Ford's F-Series pickup trucks - America's best-selling vehicle brand for decades — rose 1.6 percent. Passenger cars were down more than 23 percent.

EIB ups financing for Fiat Chrysler's electric vehicles to $949 million

MILAN — The European Investment Bank (EIB) has increased to almost 800 million euros ($949 million) its funding to Fiat Chrysler Automobiles (FCA) to support production of electric and hybrid vehicles, they said in a joint statement. Investments to manufacture battery electric vehicles and plug-in hybrid electric vehicles will be mainly directed at FCA plants located in southern Italy, supporting employment and compliance with the strictest environmental criteria. To improve capacity utilization at FCA's Italian plants, the group has announced a 5 billion euro investment plan for the country through 2021 which envisages the launch of new electric and hybrid models. EIB and FCA had sealed 300 million euros in financing before the summer to fund investments for plug-in hybrid electric vehicle production lines at plants in Melfi, in the southern Basilicata region, and battery electric vehicles at Fiat's historic Turin plant of Mirafiori over the 2019-2021 period. FCA has now finalized a 485 million euro deal with EIB to support both an innovative line of plug-in hybrid electric vehicles at the Pomigliano plant in the southern Campania region as well as R&D activities at FCA laboratories in Turin. The EIB credit line covers 75% of the total value of FCA's investment in the project for the 2020-2023 period. Earnings/Financials Green Plants/Manufacturing Chrysler Fiat

Fiat thinks big with new pickup for global markets

Fiat is thinking small in the United States, it will soon discontinue the 500X and bring the tiny 500e EV to our shores, but its global range will continue to include bigger models. One of its not-so-city-friendly vehicles is a medium-sized body-on-frame truck announced for Brazil. Official details about the pickup are few and far between, we don't even know what it will be called yet, but a preview image released by the company's Italian division reveals familiar styling cues. The grille, the shape of the headlights, and the kink in the beltline remind us of the Peugeot Landtrek, a body-on-frame truck designed jointly with Chinese carmaker Chang'an and sold in some global markets since 2019. Fiat hasn't confirmed that its upcoming truck is Peugeot-based but borrowing the Landtrek's platform would make sense: the two companies both live under the Stellantis umbrella. And, the Landtrek is largely sold in countries that Peugeot has historically been strong in, such as certain African nations, but it's not available in Brazil, where Fiat dominates a pickup segment growing at a surprisingly quick rate. The firm claims that its Strada, a small car-derived model that makes the Ford Maverick look a little big-boned, is the best-selling pickup in Brazil. Additional details about Fiat's next truck will emerge in the coming months. When it lands, it will join the aforementioned Strada and a unibody, Jeep Renegade-derived model called Toro in showrooms. Nothing suggests the pickup will be sold in the United States and it may not turn a wheel in Fiat's home country, where the company hasn't sold a truck since the Mitsubishi L200-derived Fullback retired in 2019. Related Video This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Fiat Truck Future Vehicles