Tag Archives: Fiat

Stellantis Tanks in First Half of 2024 – Net Profit -48%

“The Company’s performance in the first half of 2024 fell short of our expectations, reflecting both a challenging industry context as well as our own operational issues,” said Carlos Tavares, CEO. “We have significant work to do, especially in North America, to maximize our long-term potential.” Seven or more senior executives have left Stellantis so far this year. Continue reading

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Stellantis Implements First Employee Share Purchase Plan

“The success of this step of Shares to Win in Italy and France demonstrates our employees’ confidence in the sustainable future of our Company supported by the execution of our Dare Forward 2030 strategic plan, which maps out the path to achieving carbon net zero by 2038 and creating value for all our stakeholders,” claimed Xavier Chéreau, Chief HR & Transformation Officer. Continue reading

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Stellantis and Its European Dealers Sign New Contracts

Stellantis (NYSE: STLA) said today in Amsterdam that it had completed the signing of new contracts with its European Dealer Network. With these new sweeping agreements it aspires to be first in customer satisfaction in all markets, products and services. … Continue reading

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Stellantis Posts Record Revenue and Profits for 2023 Half 1

Stellantis (NYSE: STLA) today posted strong growth while setting new records in net revenues, operating income and net profit for the first half of 2023 while continuing its transformation to electrified and software-defined vehicles for its 14 brands. Stellantis currently has 25 BEVs available today and another 23 launching through 2024. Continue reading

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FCA US April Sales Sees Trucks and Namesake Brands Decline

The brands* the company is named after Fiat and Chrysler both posted huge declines. Sales of Fiat vehicles declined 45 percent to 1,404 vehicles. Chrysler brand total sales fell 18 percent in April to 14,189 vehicles compared with the same month a year ago. The Chrysler Pacifica minivan posted a 5 percent retail sales increase to 7,864 vehicles. Continue reading

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Chrysler Group Posts Q2 Net Income of $619 Million

Chrysler Group today reported preliminary financial results for Q2 and the first half of 2014, including net income of $619 million for the quarter, up 22% from $507 million in the year-ago quarter. Chrysler net revenue for the Q2 was $20.5 billion, up 14% from a year ago. Continue reading

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Chrysler Group to Invest $52 Million in Michigan Engine Plants

Chrysler Group today announced that it would invest $52 million in its engine plants in Trenton and Dundee, Michigan, to increase capacity of the four-cylinder Tigershark engine, creating 298 new positions at the Trenton plant. Continue reading

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Chrysler Group Q1 Profits Drop to $166 million

Chrysler Group today reported its 2013 Q1 results of $166 million in profits on revenue of $15.4 billion, off 6% from $16.4 billion one year ago. Continue reading

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Chrysler Group Increases Torque Converter Output at Toledo

Chrysler Group announced today that it would invest $19.6 million in its Toledo Machining Plant in Perrysburg, Ohio to increase capacity of the torque converter it is making for the nine-speed transmission of the 2014 Jeep Grand Cherokee. Continue reading

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Chinese GAC Group to Build Jeep Models in China

Chinese automaker Guangzhou Automobile Group Company will build Jeep models in China, according to a revised joint venture signed in Michigan today with Fiat S.p.A. GAC already manufactures the Fiat Viaggio – aka Dodge Dart – and distributes the imported Fiat 500, Freemont and Bravo in China. Continue reading

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Fiat to Expand Jeep Sales to India by Late 2013

Fiat will sell Jeep brand vehicles in India by late 2013 as part of a larger business plan to launch nine new or refreshed models under the Fiat and Jeep in the next few years. The first step will be the importation of the existing Jeep Wrangler and Jeep Grand Cherokee models, which will be arrive toward the end of 2013. Continue reading

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Chrysler Group Reports September 2012 U.S. Sales Increase of 12%

Chrysler Group reported U.S. sales of 142,041 units, a 12% increase compared with sales in September 2011 (127,336) – the group’s best September since 2007 before the reckless practices of Wall Street collapsed the housing market and the economy. Of the Detroit Three automakers, Chrysler put in what was arguably the best performance of the month by nearly matching overall industry growth of 13%. Continue reading

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CAW Members Approve New Chrysler Two-Tier Labor Contract

CAW members at Chrysler have approved a new collective bargaining agreement, voting 90% for ratification, the Canadian union announced late yesterday. The number of Chrysler members actually casting ballots was not disclosed after ratification meetings held over the weekend in Windsor, Brampton and Etobicoke, Ontario.

It was the end of a difficult series of negotiations for the weakened union, as the three multinational automakers – Chrysler, Ford and GM – presented a united front and asked for the end of all defined benefit pensions, cuts in current wages, which ranged from C$34-$41, dropping the “30 years and out” retirement provision, and elimination of most work rules. The Detroit Three argued that an overvalued Canadian dollar, unhealthy financial markets, and increasing imports from Asia and Europe, required the drastic givebacks. When the deal was finally done, a partial victory emerged for both sides, and it was arguably the best the union could do against job-exporting automakers without bringing the factories tumbling down on its own union members. Continue reading

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Canadian Auto Workers Have Tentative Deal at GM. Fiat Holds Out

Chrysler negotiators might be holding out to see if the CAW can get the controversial contracts ratified. A step in that direction occurred today as CAW in-plant leadership at Ford unanimously endorsed the new, four-year collective bargaining deal that extends U.S. style two tier wages. The union will be holding a series of ratification meetings over the weekend, where members at Ford will vote on the tentative deal. Continue reading

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EU Cars Sales Drop 9% in August as Eurozone Crisis Continues

The crisis in the Eurozone continued unabated as new car sales dropped 9% in August year-over-year after declining by 7.8% in July. As a result, in the 27 countries that comprise the EU, sales dropped to 688,000 vehicles. Year-to-date sales are down to 8.3 million units, the lowest in decades and the fifth straight year of sales declines. Continue reading

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