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It has been two years since Fiat Chrysler Automobiles started courting suitors for a potential buyout. Naturally, two Chinese automakers namely Guangzhou Automobile Group and Great Wall Motor Company have shown interest in this. However, there is another candidate for the potential takeover, and it is none other than Hyundai.
It was The Detroit Bureau who said that Hyundai has shown interest to buyout FCA. This rumour came out last August just after FCA had a meeting with the Chinese automakers. But even after the South Korean automaker expressed their interest, China’s Dongfeng Motor Corp. And Zhejiang Geely are still in the picture.
According to an analyst in charge of automobiles at Eugene Investment & Securities, Lee Jae-il, if a Hyundai-FCA merger actually pushes through in the near future, that will make the South Korean marque the largest automaker in the world, even leaping over Toyota, VW, and Nissan combined for a total of 11.5 million units sold last year. That is not all for Hyundai. This merger will also benefit the South Korean automaker due to an expanded portfolio and high consumer awareness of FCA brands in the United States and Europe. Furthermore, the acquisition will not just increase sales, but it will also help Hyundai fill in its hole in their lineup with SUVs and trucks.Read the entire article Hyundai and FCA may have a future together
Today, Chinese investors are probably the biggest market of Fiat Chrysler Automobiles, but the company wants to try out some options that would help boost their overall valuation. And one thing they are considering is to spin off both Maserati and Alfa Romeo like what they did with Ferrari last year. Doing so leaves them with no luxury brands.
So what they plan to do instead is to focus on volume or mass market cars within its portfolio, and these include models from Jeep, Dodge, and Ram. Already, this looks like it will attract the Chinese market, as Great Wall Motor Co. has already showed interest. Furthermore, none of these proposed deals are certain just yet. FCA thinks that by doing this, they will be more attractive to an outside buyer.
Also, Fiat Chrysler may hesitate to spin off Jeep as it looks like it is the most desirable segment of the automaker’s entire business. Having said that, Morgan Stanley analysts estimated that Jeep alone could be worth over $20 billion, and that is more than the estimated value of the whole FCA, making Jeep the company’s biggest contributor.Read the entire article Will FCA sell Alfa Romeo and Maserati in the near future?
This year, Fiat Chrysler Automobiles released the Dodge Challenger SRT Demon, joining another creation from hell, the Dodge Challenger SRT Hellcat. Just recently though, speculations have surfaced that FCA might develop a creation from a place opposite of hell: heaven. This comes as FCA apparently applied to trademark the name “Angel” with the United States Patent and Trademark Office.
As revealed by Fiat Chrysler Authority, FCA applied on July 17, 2017 for the name “Angel” as a trademark to be used for motor vehicles, including passenger automobiles as well as their structural parts, trim, and badges.
The Demon is practically a super-muscle car for FCA’s Dodge brand. The Dodge Challenger SRT Demon is powered by a supercharged 6.2-liter HEMI Demon V8 engine that could deliver, as standard, 808 horsepower of max output and 717 lb.-ft. of peak torque. A personalized and serialized Demon Crate could unleash the full potential of this Demon V8 engine to 840 hp of max output and 770 lb.-ft. of peak torque. This V8 engine is matched to a TorqueFlite 8HP90 eight-speed automatic transmission. With its looks and power source, the Demon is definitely a hellish ride.Read the entire article FCA seeks to trademark ‘Angel’, application has been filed at US Patent and Trademark Office
It seems that the much publicized breakfast meeting between the new President of the United States of America, Donald Trump, and the chief executives of General Motors, Ford and Fiat Chrysler was a success, given the optimistic attitudes of the carmakers’ top honchos after the discussions.
Also present in the meeting – which GM CEO Mary Barra called as “very constructive” – Matt Blunt, a former Republican governor of Missouri who now serves as head of a US automaker trade association, Vice President Mike Pence, White House chief of staff Reince Priebus and other senior administration officials.
Basically, the meeting centered on bringing more jobs back to the US, which is one of the primary promises that Trump made during the presidential campaign. Discussions also included the possible policies that Trump intends to implement in the auto industry and how he plans to make it more enticing for carmakers to build more assembly plants in the US to create more jobs, thereby keeping jobs in the country.Read the entire article President Trump meets with Big Three CEOs over efforts to open jobs in the US
The year 2016 will bring in FCA’s array of Uconnect systems that display highly advanced features like a faster start-up performance, more responsive touchscreens, processing power improvements, high resolution touchscreen display and brightness, better touchscreen controls, and the Uconnect 8.4 NAV system.
Meanwhile, some select models will also include Apple CarPlay and Android Auto.
Apple CarPlay: Through this system, iPhone users can use their devices smartly and safely inside a car. Apple CarPlay allows seamless integration of an iPhone with the vehicle’s in-built controls and display along with Siri voice control. The app permits drivers to access music, make phone calls, send and get messages, receive messages according to traffic conditions, and many more features that can be used while driving.Read the entire article FCA presents improved Uconnect systems for 2016
As announced by Fiat Chrysler Automobiles N.V., the separation process of the Ferrari business from the FCA group came to be completed on the 3rd of January, 2016. According to the deal, FCA shareholders are entitled to receive one common share of Ferrari in place of every 10 FCA common shares that they were holding.
Besides this, the shareholders of FCA mandatory convertible securities are also entitled to get 0.77369 Ferrari common shares for every one MCS unit of $100 in notional amount. Following the separation, the outstanding number of Ferrari common shares is 188,923,499 whereas 193,923,499 common shares are issued in the capital of Ferrari.
Another benefit that the shareholders will have is that those FCA shareholders who are participating in the loyalty voting program will be entitled to one special Ferrari voting share for every 10 special FCA voting shares. On completion of the separation, the issued and outstanding Ferrari special voting shares total to 56,497,618.Read the entire article FCA Group confirms separation of Ferrari business
Fiat Chrysler Automobiles said that tax issues have caused the delay of a planned initial public offering of 10% of its luxury sports car maker Ferrari. Initially, FCA said that the sale will occur in the first half of 2015 but it now says that it will take place in the third quarter of 2015 and that it definitely won’t happen before October 12.
CEO Sergio Marchionne addressed reporters in Venice last Friday. He cited tax reasons for the delay. He explained that before any additional listing could be done, a full year has to pass from the creation of FCA (which debuted on Oct. 12, 2014 on Wall Street). This listing is included in a plan to spin off Ferrari and for FCA to be able to distribute the remaining stake to shareholders.
In 2009, Fiat acquired management control of Chrysler after it emerged from bankruptcy. The buyout was completed this year. In 2014, all of its businesses were combined as Dutch-registered FCA. It has its financial domicile in the UK with a small headquarters in London. Its traditional operating hubs are located in Turin and Detroit.Read the entire article FCA pushes back Ferrari IPO to third quarter of 2015
Heads up, Gran Turismo fans! The SRT Tomahawk Vision Gran Turismo, which is the latest concept car from FCA US LLC, has made its debut. This single-seat concept takes inspiration from current and potential technologies to stretch the bounds of performance.
This summer, players of Gran Turismo 6 (GT6™) can get on the virtual track and select the V-10, 2,590 combined horsepower SRT Tomahawk Vision Gran Turismo X that’s being exclusively launched in GT6 for the PlayStation®3 console.
The most recent car to arrive from the Vision Gran Turismo project, the SRT Tomahawk Vision Gran Turismo was created via an internal design contest that looked for a futuristic (2035) high-performance Dodge.Read the entire article FCA unveils virtual hypercar SRT Tomahawk Vision Gran Turismo
Soon, customers in the United Kingdom will not be able to buy a Chrysler-branded vehicle in showrooms. Fiat Chrysler Automobiles has decided to end sales of Chrysler cars in the UK to concentrate on the Jeep brand. The carmaker currently sells the Chrysler 300C sedan and Voyager large minivan in the UK. It is also selling the Lancia Delta compact and Ypsilon subcompact cars that are rebadged as Chryslers.
Chrysler saw its sales drop 21 percent in the UK in 2014 to just 1,982 vehicles – most of which were Ypsilons -- according to data from the UK’s Society of Motor Manufacturers and Traders. FCA is expecting to sell 10,000 Jeeps in the UK in 2015, including 7,000 new Renegade subcompact SUVs.
Jeep saw its sales in the UK surge 75 percent to 3,909 units last year. The UK and Ireland were the only markets in Europe where Lancias were rebadged as Chryslers.Read the entire article FCA to stop selling Chryslers in the United Kingdom
Fiat Chrysler Automobiles will issue another recall of 703,000 minivans and SUVs with a faulty ignition switch that could rotate out of position. According to the United States National Highway Traffic Safety Administration, the recall covers MY2008-2010 Dodge Grand Caravan, Chrysler Town and Country and Dodge Journey, which faulty switches could make a vehicle stall, lose power and disable its airbags.
These vehicles were recalled in 2011 and 2014. FCA’s recall is similar to the ones that plagued General Motors in 2014, linked to 57 deaths in crashes and led to the recall of 2.59 million small cars. The delays in GM’s response to the defect have led to four congressional hearings and a $35 million fine. Those switches were supplied by Delphi.
NHTSA’s investigation into Chrysler vehicles commenced after the GM ignition-switch disclosures in 2014, when it contacted all major carmakers on whether vehicle stalls might affect airbag performance. In Chrysler’s case, it has determined that the airbags in the three affected models function for two-tenths of a second if the ignition switch moves to the accessory or off position.Read the entire article FCA to recall again minivans and SUVs with faulty ignition switch
FCA US saw its sales jump 5.6 percent in February 2015 to 163,586 vehicles, thanks to strong demand for Jeeps, Ram pickups and the Chrysler 200. The surge marked the carmaker’s 59th consecutive month of year-over-year sales increases in the United States. Leading the carmaker’s charge is Jeep, which jumped 21 percent overall thanks to the best-ever February volume recorded by the Wrangler, Cherokee and Compass.
The Jeep Patriot also posted its best sales for any month. On the other hand, the Chrysler brand surged 13 percent in February. Gains from the Chrysler 200, which logged a new February sales record, . Gains from the 200, which was redesigned last year, offset losses from the Town & Country minivan and the 300 sedan.
Sales of the Ram brand leaped 12 percent as demand for commercial vans and pickups hiked. For instance, sales of the Ram 1500 pickup jumped 7 percent, while those of the Ram heavy-duty pickup hiked 3 percent. The Fiat and Dodge brands were not so fortunate in February.Read the entire article FCA US post 5.6% climb in sales in February 2015
Fiat Chrysler will send a notice to owners of MY2014-2015 Cherokees and some MY2015 Chrysler 200s – all with 2.4-liter inline-four engines -- in mid-to-late February to update the software for the vehicles’ nine-speed automatic transmission. The reflash is meant to “keep the vehicle performing as intended” and to prevent durability issues from occurring in the future.
The Cherokee has been a subject of consumer complaints on the safercar.gov Web site over issues like hard shifts, lunging, unexpected disengagement of the transmission or repeated illumination of malfunction lights. The reflash could also be now availed at dealerships by consumer request.
FCA had to delay the Cherokee's launch by three months to address the software's troublesome coordination of the engine and the disconnecting all-wheel-drive system. FCA first introduced the nine-speed transmission for front-wheel-drive vehicles on the MY2014 Cherokee.Read the entire article FCA US to update software of its nine-speed automatic transmission
Fiat Chrysler Automobiles is holding discussions with other carmakers to share the development costs of new vehicles and technology, particularly to reduce greenhouse gas emissions, FCA chief executive Sergio Marchionne said at the Detroit Auto Show. Marchionne noted that the development costs being incurred by carmakers are well in excess of what he considers “a mature industry to be able to afford."
While deflected questions on whether FCA was holding merger talks, he remarked that the carmakers' relatively low stock values mirror’s investor views that automakers are wasting capital building their own versions of commoditized technologies like the hardware for four-cylinder engines.
There have been media reports suggesting that FCA was in talks with PSA/Peugeot-Citroen and Volkswagen over possible partnerships. FCA’s disclosure last year of a plan to spin off Ferrari led to speculations that Italian carmaker would seek another merger partner, possibly to allow it to better compete in Asia.Read the entire article FCA is in talks with other carmakers to share the development costs of new vehicles
FCA US has issued a global recall of 66,819 MY2006-2007 pickups fitted with manual transmissions due to suspected clutch problems. The recall covers certain Dodge Dakota, Dodge Ram 1500, 2500 and 3500, and Mitsubishi Raider pickups. Geographically, the recall covers 54,558 in the United States, 4,356 in Canada, 7,648 in Mexico and 257 outside of North America.
According to FCA, its engineers discovered clutch interlock switches may be fitted with spring wire different from wire used in previous switches. The carmaker said the alternate wire may break and may cause the vehicle not to start or, in rare cases, result in unintended movement when the ignition key is turned.
The carmaker said it knows of one death linked to the issue. According to documents files with the National Highway Traffic Safety Administration, a child entered an MY2006 Ram 3500 truck and started the ignition without the clutch depressed.Read the entire article FCA US recalls 66,819 MY2006-07 pickups over clutch issues
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