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No Sale: FCA Not Negotiating with Chinese Nor Willing to Sell Off Jeep, Says Marchionne

Exec plans to release his final 5-year plan this quarter and then name his successor.

by on Jan.15, 2018

Marchionne plans to reveal his successor a few months from now but confides no women are in the running.

Fiat Chrysler Automobiles isn’t open to selling off its Jeep brand nor has it fielded any offers for a complete takeover by a Chinese company, FCA Chief Executive Sergio Marchionne said during a media roundtable at the North American International Auto Show in Detroit on Monday.

Marchionne said he wanted to clear up reports that have, in recent months, suggested Fiat Chrysler was up for sale – or that it was willing to let go of some key assets, such as the Jeep or Ram brands. But the executive did not rule out a closer relations with GAC, the Guangzhou-based automaker that serves as its partner in the Chinese market.

Breaking News!

“Without them we could not have gone as far as we have in China,” said Marchionne, who stressed “We are not going to break up (the company and) we are having no discussions with anyone in China interested in acquiring us.”

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Ford Hopes Alibaba’s Online Sales Plan is Purrfect

Vending machine approach expected to increase online sales.

by on Dec.19, 2017

Ford is looking to expand its online sales in China through its partnership with Alibaba and its cat-shaped vending machines for cars.

Ford Motor Co.’s new three-year deal with Alibaba, considered China’s version of Amazon, offers the automaker a new outlet for selling its vehicles in the country.

The idea of buying a new car on the internet isn’t exactly novel, but Alibaba offers Dearborn, Michigan-based Ford more options than simply “click to proceed to checkout” on its Tmall online store.

Global Auto News!

Ford, which has seen its sales in China stagnate this year, and when signed it deal last month with Alibaba, the automaker was looking to expand its capability of selling vehicles online. The company’s year-to-date sales in China total more than 1,056,000 units, a 6% decrease year over year. (more…)

Alcantara Gaining Ground on Inside of Autos

Luxury material making gains on leather in vehicle interiors.

by on Dec.19, 2017

Inside the new Panamera is covered in Alcantara, one of many high-end vehicle's using the material.

Alcantara, the Italian maker of material finding its way into more and more luxury vehicles, has tripled its sales since the recession and is adding more capacity at its home base in Italy, according to the company’s chairman and chief executive Andrea Boragno.

Boragno said Alcantara’s Italian manufacturing base is a vital part of its character and its broad appeal to a growing list of carmakers such as Alfa Romeo, Lexus, Lincoln, Nissan and Volkswagen.

Product News!

“The growing appeal of Alcantara is one of the reasons why we have announced a five-year investment program totaling 300 Euros million in order to double the company’s overall production capacity,” Boragno said. (more…)

Ferrari Doubling Production a Year Early

If maker hits mark, profits soar past $2 billion.

by on Dec.13, 2017

The Portofino is Ferrari's latest model. CEO Sergio Marchionne is pushing for production levels to double, perhaps next year.

It would appear that CEO Sergio Marchionne is finally getting his wish to bulk up the production of Ferraris as the Italian sports carmaker plans to produce 9,000 vehicles next year.

Marchionne has long wanted to produce more vehicles to squeeze more profits out of the company. It led to a dispute with the former chief, Luca di Montezemolo, which led to his departure from Ferrari. Montezemolo was concerned that building too many vehicles would cut the exclusivity of the brand and lower its value.

Product News!

Clearly, Marchionne disagreed but the new production numbers are a full year ahead of even his projections, according to Automotive News. (more…)