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Posts Tagged ‘FCA CEO Sergio Marchionne’

FCA Beats Quarterly Earnings Expectations

Company overcomes slow start in North America

by on Apr.26, 2017

FCA CEO Sergio Marchionne touted the company's improved margins. He also suggested the company may add more autonomous tech suppliers.

Fiat Chrysler Automobiles N.V. delivered better-than-expected financials results for the first quarter of the year, including an 11% jump in adjusted earnings to 1.54 billion euros, slightly higher than the predicted 1.4 billion euros.

The company beat expectations despite a slow start to the year in North America where FCA has pulled back on sales to rental fleets and started remodeling manufacturing plants to build more trucks and sport utility vehicles.

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Sergio Marchionne, FCA chief executive, noted the entire company’s margins were up 30 basis points to 5.5% and despite the ongoing changes in North America, the NAFTA region climbed to 7.3% thanks to strong sales of Jeeps and sport-utility vehicles.   (more…)

Marchionne Changes Course, Claims No Interest in VW Tie-Up

However, FCA's CEO did say he would listen to any pitch from VW.

by on Mar.16, 2017

FCA CEO Sergio Marchionne says he's not interested in a merger with Volkswagen.

After preaching for years about the need for a broad consolidation in the global automobile industry, Fiat Chrysler Automobiles CEO Sergio Marchionne has reversed course or perhaps gotten cold feet.

Following a meeting with President Donald Trump, Marchionne told reporters that he had no interest in pursuing a possible merger with Volkswagen, the world’s largest automaker and the top automaker in Europe where FCA’s European brands are facing the potential of more intense competition from combination of Opel/Vauxhall and PSA.

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Once the PSA takeover of Opel/Vauxhall is completed later this year, it will be the second-largest carmaker in Europe. (more…)

Marchionne: Opel Deal Could Accelerate Industry Push for Consolidation

“A step in the right direction,” FCA CEO still looking for his own alliance.

by on Mar.07, 2017

FCA CEO Sergio Marchionne believes the GM/PSA deal for Opel portends a deal for Fiat Chrysler in the future.

The sale of Opel to French automaker PSA reverberated through the PALExpo convention center on the opening day of the Geneva Motor Show, a number of industry leaders saying they expect GM’s move to dump its long-troubled European brand will lead to a wave of new mergers and acquisitions.

That includes Sergio Marchionne, CEO of Fiat Chrysler Automobiles, who has spent a number of years trying to line up a deal for his own company. General Motors’ decision to dump Opel, Marchionne said during a Geneva media roundtable, could improve the odds of FCA now finding a partner.

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“What we witnessed is a step in the right direction,” Marchionne told a crowd of reporters. Responding to a question about the impact the Opel sale will have on the industry, the FCA chief offered a question of his own. “Will it lead to other deals? The answer is yes, especially if (the takeover) is successful.” (more…)

FCA Touts 2,000 New US Jobs

Previously announced plans may avoid Trump tweets.

by on Jan.09, 2017

Fiat Chrysler CEO Sergio Marchionne's reorganization plan will add 2,000 new U.S. jobs the maker announced.

As part of Fiat Chrysler’s ongoing manufacturing reorganization in North America the company explained it will add 2,000 new jobs to the its ranks by 2020, the automaker announced yesterday, perhaps hoping to avoid being the next Twitter target of President-elect Donald Trump.

The automaker has been shifting its production in Michigan and Ohio to focus on trucks and SUVs, and is in the midst of a $1 billion plan to make that happen. The moves also include some movement of jobs from Mexico to Michigan, FCA officials noted.

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After Trump began calling out automakers on Twitter in recent weeks, many have been attempting to put their best foot forward, emphasizing manufacturing plans that have been shifting small car production to Mexico also net more jobs for the U.S. plants building the more profitable and popular trucks and utility vehicles. (more…)

Marchionne Not Surprised by Drop in Fiat Stock

CEO says FCA’s new headquarters will be in London.

by on May.09, 2014

FCA CEO Sergio Marchionne said he wasn't surprised to see "people take money off the table" after revealing the maker's five-year plan.

Just two days after FCA’s marathon session where the company laid out its plans for the next five years, CEO Sergio Marchionne dropped a bombshell that was left out of the meeting: FCA’s headquarters will be in London.

“My office will be in London. It has to be,” Marchionne told reporters at Chrysler Group office outside Detroit. “My office and my functions need to operate out of London. The board will meet there. That doesn’t mean I’m going to give up my operation responsibilities (in North America).”

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The operating headquarters for Fiat and Chrysler will remain in Turin and suburban Detroit respectively and the company’s key officers will be scattered around the globe and work from offices in Detroit, Turin and Brazil. (more…)

Fiat Chrysler Lays Out Broad Growth Plan

All-encompassing blueprint shows the way to 2018.

by on May.06, 2014

A worker puts the finishing touch on the new FCA sign at the company's North American headquarters in Auburn Hills, Michigan, this morning.

With a veiled reference to the disastrous, failed alliance that nearly destroyed Chrysler during the recent recession, CEO Sergio Marchionne and his management team laid out a broad and ambitious plan for the U.S. maker and its Italian partner, Fiat, that will see the newly merged company roll out a flood of new products during the next five years.

Following up on a day-long session in late 2009, after Fiat first came to Chrysler’s rescue, the new Fiat Chrysler Automobile (FCA) detailed its next five-year plan, outlining a strategy that will see it try to sharpen the focus of each of its many brands. In most cases, that will mean adding a number of new products, though in some cases, key brands like Dodge will actually reduce their line-ups to eliminate models that don’t fit their image.

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With several hundred investment analysts and an equal number of journalists in the audience, Marchionne’s clear intent was to show that Fiat Chrysler, currently the world’s seventh-largest automotive manufacturer, is well-positioned to challenge rivals ranging from Toyota to Ford, General Motors to Volkswagen, in an increasingly competitive market. (more…)

What’s a CEO Worth? Detroit Exec’s Pay Varies Wildly

Chrysler’s Marchionne at the bottom of the list – but Fiat earnings could help out.

by on Mar.07, 2014

Sergio Marchionne, FCA CEO, received a paltry salary from Chrysler last year compared with his CEO counterparts Alan Mulally and Mary Barra.

Despite managing a major turnaround of both Fiat and Chrysler – and the recent merger of the two companies, Sergio Marchionne took home a relatively modest $307,989 in compensation from the U.S. maker last year – barely 1% of what Alan Mulally, the CEO of rival Ford Motor Co., took home in stock alone.

In fact, Marchionne actually earned less than four other executives at Chrysler. And unless the newly merged Fiat Chrysler Automobiles, or FCA, ups the ante, Marchionne won’t do much better when compared to Mary Barra, General Motors’ new CEO, who is expected to earn $14.4 million for 2014.

The Last Word!

Barra’s proposed compensation package was revealed last month after GM scrambled to offset a backlash from earlier reports suggesting the company’s first female CEO would get less pay than the man she replaced. Meanwhile, Ford and Chrysler are just releasing their own top management pay numbers as part of their annual filings with the SEC. (more…)