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Posts Tagged ‘Sergio Marchionne’

Viva Italia: First Look at the New Alfa Romeo Giulia

Alfa aims to hit a high note with new performance sedan.

by on Jun.24, 2015

The new Alfa Romeo Giulia makes its debut in Milan. Another seven new models are set to follow.

With acclaimed opera singer Andrea Bocelli sharing the stage, Alfa Romeo rolled out its new Giulia sedan during a packed news conference in Milan, Italy on Wednesday.

Alfa can only hope it has hit a high note with the launch of the new performance model once it rolls into showrooms early next year. The Alfa Romeo Giulia sedan will be going up against a crowded field of luxury competitors, including the likes of the vaunted BMW 3-Series and the Mercedes-Benz C-Class.

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The challenge will be especially tough in the U.S. which is expected to be the single market for the new Alfa Giulia – and for Alfa Romeo on the whole. The brand has largely been absent for more than two decades, something company officials suggested can be both a plus and a minus for the ambitious Italian brand.

“There’s nothing about the brand that needed to change. We needed to change ourselves,” suggested Harald Wester, the head of Alfa Romeo, as he opened up the news conference.

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New Giulia Sedan Could Be Make-it-or-Break-It Car for Alfa

Project key to broader success of Fiat Chrysler Automobiles.

by on Jun.24, 2015

Alfa Romeo plans to introduce a new sedan in the U.S. as part of its plans to sell more than 100,000 vehicles here.

Italy’s Alfa Romeo will pull the wraps off its all-new Giulia sedan later today during a splashy event in Milan, the birthplace of the long-struggling brand.

The hoopla should be no surprise considering the critical role it will play in the promised revival of the Alfa brand, and in the broader success – or failure – of the strategy laid out for parent Fiat Chrysler Automobiles by CEO Sergio Marchionne.

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Largely limited to the European market today, Marchionne wants to more than quadruple Alfa’s sales by 2018, with North America targeted to become one of the brand’s largest market After a long absence, however, Alfa is virtually unknown in the U.S. and Canada today, selling only a few 100 of its pint-sized 4C sports cars since making its return last year.

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Marchionne Reportedly Delaying At Least a Dozen New Fiat Chrysler Models

CEO appears to be looking for partner before moving ahead on some next-gen products.

by on Jun.03, 2015

Fiat Chrysler CEO Sergio Marchionne is reportedly delaying some products as he searches for a merger partner.

Fiat Chrysler CEO Sergio Marchionne reportedly is putting a dozen or more North American vehicle programs on hold as he sets out to find the partner he believes is critical for the long-term survival of his trans-Atlantic automaker.

The move appears to be the biggest change yet to the far-reaching product strategy that Marchionne and his team at FCA announced a little more than a year ago, and reverses earlier comments by the executive that the program was “on track.”

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According to a report by the wire service Reuters citing inside Fiat Chrysler sources, Marchionne is “shuffling product plans even as he seeks a partner.” (more…)

Is Fiat Chrysler Looking for a Merger Partner?

Deal may occur before CEO Marchionne’s ’19 retirement.

by on Apr.14, 2015

FCA CEO Marchionne appears interested in pulling off another major deal before his 2019 retirement.

Senior officials at Fiat Chrysler Automobiles are sending out signals that they’d like to find another partner, barely a year after the trans-Atlantic alliance was officially completed. Such a deal could be come together – if a willing partner can be found – before CEO Sergio Marchionne’s planned retirement in 2019, according to various sources.

Marchionne has made a number of comments in recent months underscoring his desire to address fundamental problems that could limit FCA’s ability to compete in an increasingly competitive global auto industry.

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Now, FCA Chairman John Elkann has weighed in. While he didn’t specifically say his company was on the prowl, Elkann wrote shareholders at Exor, which owns 29.2% of FCA, “I’m convinced that the industry needs and will see more consolidation in the future.”

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Fiat Chrysler Could Seek New Alliances, Hints CEO Marchionne. Could Mazda, Apple be in the Plans?

Exec reveals new Mazda-made roadster will be named Fiat 124 Spider.

by on Mar.03, 2015

Would Fiat Chrysler consider opportunities to work with Apple or Google? "Obviously," said Marchionne.

Fiat Chrysler could seek to expand its list of outside alliances, CEO Sergio Marchionne said during a roundtable discussion at the Geneva Motor Show on Tuesday.

The maker is clearly pleased with the way things have gone in a partnership with Mazda. FCA worked with the Japanese maker on the upcoming Miata roadster replacement. And a second version will be sold through the Fiat brand as the reborn 124 Spider, Marchionne revealed.

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“In the case of Mazda, they had something we didn’t have and we continue to look at opportunities like that going forward,” said the chief executive, adding that FCA is discussing other possible projects with Mazda while also looking for other potential partners.

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Chrysler Acquisition Hammers FCA Earnings

But U.S. operations also drove revenue growth.

by on Jan.28, 2015

FCA Chief Executive Sergio Marchionne's acquisition of Chrysler carried a high cost last year.

When it comes to the American half of its newly merged company, investors will have to decide whether the glass is half empty for Fiat Chrysler Automobiles.

That’s because the cost of completing the acquisition of suburban Detroit-based Chrysler bludgeoned the trans-Atlantic maker’s earnings. But the Chrysler side also delivered a healthy 11% increase in FCA’s overall revenues.

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Legally headquartered in the Netherlands, Fiat Chrysler is reporting that its 2014 net profit fell by two-thirds, to 632 million Euros, or $718 million. For 2013, the maker had a restated net of 1.9 billion Euros. For the final quarter of 2014, the maker earned 420 million Euros, down from 1.2 billion during the same period in 2013.

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“Ruinous” Practices Threaten Automakers, Warns FCA’s Marchionne

“Overkill” in last year’s recall crisis may have been “the only acceptable answer.”

by on Jan.13, 2015

The auto industry may be looking at increasing sales, but FCA CEO Marchionne is still worried.

The U.S. auto market may be heading into a very good year, but there’s still reason to worry, cautioned FCA Chief Executive Officer Sergio Marchionne, during a well-attended media “roundtable” at the opening of the North American International Auto Show.

Like other senior executives gathered for a two–day preview, Marchionne said 2015 is likely to bring further sales gains in the U.S. He also said automakers appear to be showing great restraint in holding back on the “ruinous” practices of the past – such as excess incentives – that nearly destroyed the industry during the depths of the Great Recession.

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Nonetheless, the outspoken Marchionne said there are still reasons to fret. He pointed to the ongoing problem with excess capacity in Europe, and the fact that the auto business is so costly to compete in that a failure of a single major project could put a company at risk of failure.

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Midsize Sedan Likely Next U.S. Model for Alfa Romeo

Project 952 designed to replace old Alfa 159.

by on Nov.26, 2014

The old Alfa Romeo 159 was sold only in Europe. It's successor will go global, including the U.S.

After months of waiting, American Alfa Romeo fans can finally head to dealers for the maker’s little 4C sports car, the first model the Italian maker has sold in the U.S. in more than two decades. But it will soon have to share showroom space, according to several reports out of Europe.

During a day-long briefing on the company’s plans last May, Fiat Chrysler Automobiles CEO Sergio Marchionne indicated Alfa Romeo will be getting as many as eight new products, and during an appearance at the LA Auto Show this month, Alfa would bring the second of those to the U.S. next June.

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While Wester declined to say what that new product would be, it appears the maker will next turn to a midsize sedan replacing the old Alfa 159, according to Luca Ciferri, of Automotive News Europe. The maker apparently will go for a “tweener” strategy, much as Cadillac did with earlier versions of the CTS.

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FCA Set to Spin Off Ferrari

Investors applaud, but questions and challenges loom.

by on Oct.29, 2014

The 458 Speciale A made its debut at the Paris Motor Show earlier this month.

Only months after Fiat Chrysler CEO Sergio Marchionne ruled out the possibility of spinning off the maker’s high-profile Ferrari brand, that’s precisely what the maker now says it will do – a move that has fired up investors while raising questions about the long-term strategy for the supercar maker.

In an announcement accompany Fiat Chrysler Automobile’s third-quarter earnings report, the maker said it will sell 10% of Ferrari’s shares while the remaining 90% will go the only recently merged FCA’s own shareholders.

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The move comes at a significant moment for Ferrari which just last month revealed that long-time chief executive Luca di Montezemolo would step down, apparently as a result of a dispute with Marchionne over the sports carmaker’s direction. It didn’t help that Ferrari also had one of its worst years on the trying Formula One race circuit in decades.

What happens now is something that both loyal “Ferraristas” and investors alike will be watching closely.

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Fiat Chrysler Earnings Hold Steady as Maker Prepares to Spin Off Ferrari

Investors quickly warm to news.

by on Oct.29, 2014

Sergio Marchionne may have reason to smile as investors finally begin bidding up FCA stock.

Now officially merged, Fiat Chrysler Automobiles said its third-quarter earnings were roughly in line with last year’s numbers.

Though that was essentially what analysts had anticipated, the automaker delivered a surprise by announcing it will spin off its iconic Ferrari brand – just months after CEO Sergio Marchionne appeared to indicate such a move wasn’t in the works.

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The decision “will preserve the cherished Italian heritage” of Ferrari, said a statement from FCA Chairman John Elkann. Ferrari has been facing a fair bit of turmoil lately after the ouster of its long-time chief executive and its unexpectedly poor performance in the popular Formula One racing series.

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