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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).”

Beyond the Headlines!

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…)

Tesla Market Capitalization Hits $15 Bil, Passes Fiat and Peugeot – Combined

Battery carmaker soars to new record as Wall St. rethinks auto stocks.

by on Jul.15, 2013

Tesla demonstates its new battery-swap capability.

There are plenty of folks who still don’t see much of a future for electric vehicles. Clearly, they aren’t the ones investing in Tesla Motors.

The Silicon Valley battery-car maker reached a critical milestone Monday morning when its shares surged just enough to push its total market capitalization up to an even $15 billion dollars.  And though Wall Street pushed back as the morning dragged on, Tesla stock still was running more than five times its 52-week low.

A Good Investment!

That means the maker, which only just posted its first-ever quarterly profit during the January to March period, now has a market cap equal to Italian automaker Fiat and France’s PSA Peugeot Citroen – combined.

That’s all the more significant considering that Tesla sold a grand total of about 4,750 vehicles during the first quarter. And while that was a good 5% above the battery-carmaker’s original forecast, that’s little more than the number of Ford F-Series pickups sold in two days and significantly fewer Toyota Camrys sold in a week.

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Fiat Turns to Gucci as 500 Falls Short in U.S.

Maker to add high-style model of minicar.

by on Aug.17, 2011

Two Italian icons come together as Fiat launches the latest version of its minicar, the 500 Gucci edition.

Fiat’s latest version of the little 500 minicar will make its debut on the runway rather than the auto show stage, the high-style Gucci edition debuting on September 8th during New York’s annual Fashion Week, a week ahead of the annual Frankfurt Motor Show where many of the maker’s other new product will be unveiled.

Attracting fashionistas will be critical for the Italian automaker which is in the midst of its re-launch in a U.S. market it had abandoned two decades earlier.  But despite the upcoming introduction of yet another version of the Fiat 500, investors are growing concerned that the maker’s American revival isn’t going as well as planned.

News you can use!

Fiat shares fell by as much as 6% in Italy on Tuesday, reflecting mounting concerns about the sales shortfall for the 500 in the States.  Through the end of July, American motorists had purchased just 11,500 of the cars, making it increasingly unlikely Fiat can hit its 50,000 target for 2011.

Launched earlier this year in coupe form, Fiat revealed the convertible version of the minicar at the April New York Auto Show and will shortly add the Fiat 500 by Gucci, the most stylish – but also the most expensive version of the 4-seater yet.

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