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China-FCA merger could be a win-win for everyone but politicians

NEW YORK — Fiat Chrysler boss Sergio Marchionne has said the car industry needs to come together, cut costs and stop incinerating capital. So far, his words have mostly fallen on deaf ears among competitors in Europe and North America. But it appears Marchionne has finally found a receptive audience — in China. FCA shares soared Monday after trade publication Automotive News reported the $18 billion Italian-American conglomerate controlled by the Agnelli family rebuffed a takeover from an unidentified carmaker from the Chinese mainland. As ugly as the politics of such a combination may appear at first blush, a transaction could stack up industrially, and perhaps even financially. A Sino-U.S.-European merger would create the first truly global auto group. That could push consolidation to the next level elsewhere. Moreover, China is the world's top market for the SUVs that Jeep effectively invented, so it might benefit FCA financially. A combo would certainly help upgrade the domestic manufacturer; Chinese carmakers have gotten better at making cars, but struggle to build global brands, and they need to develop export markets. Though frivolous overseas shopping excursions by Chinese enterprises are being reined in by Beijing, acquisitions that support the modernization and transformation of strategic industries still receive support, and the government considers the automotive industry to be strategic. A purchase of FCA by Guangzhou Automobile, Great Wall or Dongfeng Motors would probably get the same stamp of approval ChemChina was given for its $43 billion takeover of Syngenta. What's standing in the way? Apart from price (Automotive News said FCA's board deemed the offer insufficient) there's the not-insignificant matter of politics. Even as FCA shares soared, President Donald Trump interrupted his vacation to instruct the U.S. Trade Representative to look into whether to investigate China's trade policies on intellectual property. Seeing storied Detroit brands like Jeep, Chrysler, Ram and Dodge handed off to a Chinese company would provoke howls among Trump's economic-nationalist supporters. It might not play well in Italy, either, to see Alfa Romeo and Maserati answering to Wuhan instead of Turin — though Automotive News said they might be spun off separately. Yet, as Morgan Stanley observes, "cars don't ship across oceans easily," and political considerations increasingly demand local manufacture of valuable products.

Autoblog Minute: FCA issues Uconnect software update amid hacking fears

Carjacking has gone wireless, as automakers and Congress scramble for a solution after a disturbing video on Wired showed a pair of researchers controlling a Jeep Cherokee remotely. Autoblog's Adam Morath and David Gluckman report on this edition of Autoblog Minute. Show full video transcript text [00:00:00] Carjacking has gone wireless, as automakers and Congress scramble for a solution. I'm Adam Morath and this is your Autoblog Minute. Cars with wireless connections are susceptible to remote hacking, as demonstrated in a disturbing video on Wired.com. The segment showed two researchers remotely controlling a Jeep Cherokee, including running vehicle's the wipers, turning up the music, and ultimately shutting down [00:00:30] the Jeep while it was being driven on the highway by Wired senior writer Andy Greenberg. Washington took note. A press release issued from the desks of senators Ed Markey and Richard Blumenthal introduces legislation protecting drivers from auto security privacy risks. Fiat Chrysler, parent company of Jeep, has a solution for its customers. For more we go to Autoblog's David Gluckman. [GLUCKMAN INTERVIEW] Chrysler has worked with the Uconnect cellular provider Sprint to plug security holes on the carrier side. The vehicles themselves can't be updated wirelessly, so [00:01:00] the remaining changes require physical access. For that, customers have three options: One, download the Uconnect software update to a USB stick and install. Two, wait for FCA to send a USB stick with the latest software that they can install, or third, visit a dealer. Owners should do what they're most comfortable with. I made a video that walks through the whole process from download to install and it took about a half hour. [MORATH] David's full video tutorial of how to install the Uconnect fix can be seen on Autoblog. [00:01:30] It remains to be seen how the rest of the auto industry will respond to these security risks. For Autoblog, I'm Adam Morath. Related Video: Autoblog Minute is a short-form news video series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals.

Marchionne: Midsize pickup still not in the cards; Ram 1500, Jeep Wrangler could use aluminum

During the Fiat-Chrysler briefings on Tuesday, Reid Bigland, head of Ram Trucks, outlined the new product plans for his brand, including confirmation that an all-new light-duty Ram 1500 will launch in 2017. From there, discussions spun off in two directions, with the main questions being: will Ram build a midsize pickup? And, following Ford's move to extensively use aluminum in its new 2015 F-150, will Chrysler be using this weight-saving material for the next round of its fullsize truck, as well?
"I think there is room for a Ram 1000," Fiat-Chrysler CEO Sergio Marchionne (pictured above) told members of the media, saying this is a conversation the automaker has been having internally for several years now. "We've tried this ... we've actually taken it to clinics," Marchionne stated, adding that the "response has been lukewarm."
"I have better use of aluminum in this house than a pickup truck." - Sergio Marchionne