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Jeep Tracking to Surpass 2014’s 1 Million Units Sold

Marchionne rewarded for success with $8 million earnings.

by on Mar.06, 2015

Sergio Marchionne earned more than $8 million in 2014 in salary and other compensation.

After rolling up sales of more than 1 million units in 2014, the Jeep brand is off to a fast start in 2015 as it records increases of more than 20% for the first two months of the year despite getting drubbed by Consumer Reports.

Moreover, the newest member of the Jeep family, the Jeep Renegade, is just beginning to reach dealers and showrooms in the next several weeks. “They’re outside the fence,” noted Art Anderson, FCA US chief engineer and vehicle line executive for the Renegade, during an interview webcast on AutoLine’s “After Hours” program this week.

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The Renegade is the first Jeep vehicle produced outside the U.S. and while FCA US executives insist the launch is on schedule, Anderson acknowledged the ships carrying the first batch of Renegades from Italy to the west did run into some foul weather. However, the ship was unloaded in timely manner once it reached San Diego, he said. (more…)

Marchionne Takes Home $0 from Chrysler – but $18.9 mil from Fiat

The night job pays off.

by on Mar.15, 2012

Why is this man smiling? An $18.9 million paycheck certainly helps.

In an era of executive excess, Chrysler CEO Sergio Marchionne made headlines, earlier this month, when it was reported he took no compensation for his work at the U.S. automaker last year.  That was all the more impressive compared to the news, that same day, that Ford Chief Executive Alan Mulally had received $58.3 million in stock alone for 2011.

But for those wondering how deeply Marchionne might have to dig into his pockets to cover the reported $3.5 million home he recently purchased in the Detroit suburbs there’s no reason to worry.  While he didn’t get money from Chrysler he did more than okay wearing his other hat, as CEO of the U.S. maker’s Italian partner Fiat.

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In all, Marchionne took home 14.5 million Euros, or $18.9 million,  last year, including $3.2 million in salary and another $15.69 million in stock that vested last year.  Major companies like Ford and Fiat like to use stock as an incentive, the argument being that with enough shares an executive like Marchionne or Mulally will be motivated to maximize investor value.