FCAU - Fiat Chrysler Automobiles N.V.

NYSE - NYSE Delayed Price. Currency in USD
13.27
-0.17 (-1.26%)
At close: 4:02PM EST
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Previous Close13.44
Open13.40
Bid13.22 x 1000
Ask13.26 x 4000
Day's Range13.23 - 13.41
52 Week Range12.11 - 16.69
Volume1,346,666
Avg. Volume3,219,481
Market Cap26.228B
Beta (5Y Monthly)2.14
PE Ratio (TTM)5.72
EPS (TTM)2.32
Earnings DateN/A
Forward Dividend & Yield0.73 (5.41%)
Ex-Dividend DateMay 19, 2019
1y Target Est18.75
  • Global auto industry threatened by virus crisis
    Reuters Videos

    Global auto industry threatened by virus crisis

    Fiat Chrysler warned that the coronavirus outbreak may force one of its European plants to close. The company says that could happen within weeks. It says its struggling to source crucial car parts because the Chinese factories that supply them have shut down over the virus. Many extended their Lunar New Year's closures over the outbreak but some have pushed the shutdowns out even further. The impact of the epidemic means the next few weeks will be critical for automakers. Parts made in China are used in millions of vehicles assembled around the globe. And Hubei province the epicenter of the outbreak is a major hub for parts production and shipments. If plants remain idle heading into March analysts at IHS Markit predict losses will add up to 1.7 million vehicles gone unmade during Q1. Fiat Chrysler didn't say which of its cars were at risk. But other big names have sent up red flags. Hyundai says the parts shortage could force it to suspend production in South Korea. Toyota says its looking at alternative sources of key parts. And GM says it has teams working around the clock to head off trouble.

  • Are Investors Undervaluing Fiat Chrysler (FCAU) Right Now?
    Zacks

    Are Investors Undervaluing Fiat Chrysler (FCAU) Right Now?

    Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

  • OPEC Underestimates China Virus
    Bloomberg

    OPEC Underestimates China Virus

    (Bloomberg Opinion) -- The Covid-19 virus is a human tragedy for many who have been affected by it and it’s having a profound impact on the lives of a large part of the Chinese population. The impact on the rest of the world of the disease’s dislocation of the Chinese economy is yet to be fully felt. Forecasts of only a modest impact on oil demand worldwide are far too optimistic.A comparison of the latest forecasts from the world’s three big oil agencies — the International Energy Agency, the U.S. Energy Information Administration and the Organization of Petroleum Exporting Countries — highlights the huge uncertainty that exists over the virus’s repercussions for oil demand. As may be expected for a body representing oil producers, OPEC sees the impact as minimal, having just cut its first-quarter forecast for global oil demand by only 400,000 barrels a day. That looks like wishful thinking. The IEA’s revision is three times as big, and if its forecast bears out, it’s deep enough to tip the world into its first year-on-year drop in demand in more than a decade.China’s own oil consumption is down sharply as factories stay closed and travel restrictions remain in place even after the extended Lunar New Year holiday comes to an end. Congestion on roads in major cities is far below normal levels. The chart below shows journey times in Shanghai, and other Chinese cities mirror that pattern. My colleagues at BloombergNEF estimate that China’s jet fuel use is now down by 240,000 barrels a day from pre-virus levels, with departures from Chinese airports down by around 80%.Pollution statistics also capture the slowdown in economic activity and fuel use — something that under different circumstances might be reason to celebrate. China’s nitrogen dioxide emissions fell 36% in the week after the holiday from the same period a year earlier, according to the Centre for Research on Energy and Clean Air. A slowdown of 25%-50% across industrial sectors such as oil refining, coal-fired power generation and steel production contributed to the drop, according to the independent research organization.However, even as the Covid-19 virus hits consumption, the number of very large crude carriers hauling cargoes to China has risen. That’s because independent refiners are taking advantage of the drop in crude prices to fill their storage tanks with cheap cargoes, even as they cut run rates. That’s to some extent cushioning producers now. But those stockpiles will hit future demand for crude from China’s teapot refineries, even after the immediate effect of the virus dissipates.At the same time, the Chinese government is in the process of building and filling a strategic stockpile similar to the U.S. Strategic Petroleum Reserve, as it becomes ever more dependent on imported supplies. It may also be using the price drop to boost purchases for long-term storage, raising the risk that it will cut them again as prices recover, crimping demand for imported oil in the future. By contrast, China’s state-owned processors are seeking to reduce the volumes supplied under term contracts.Even with reduced refinery runs, China is producing more fuel than it needs. Exports of gasoline and diesel have soared, according to shipping intelligence firm Vortexa. But they aren’t finding ready buyers. Most of these additional fuel exports are ending up in storage tanks in Singapore amid subdued regional demand.That brings us back to concerns over just how bad the reverberations from Covid-19 will be. The China of 2020 is very different to that of 2003, and so today’s epidemic is likely to have a much bigger international impact than the SARS virus to which it is most often compared. For a start, China’s oil consumption now is more than twice what it was when SARS hit and last year the country accounted for more than three-quarters of the growth in global oil demand, according to the IEA.In the past 17 years, China has also become much more closely linked to the rest of the world economy. Chinese travelers accounted for about 20% of total spending on tourism in 2018, according to the United Nations World Tourism Organization, while China itself was the fourth most popular destination. The virus will effect both of those figures in 2020.The country has also become the center for producing and exporting both finished goods and components. “All the signs are that there has been a major dislocation in global supply chains,” according to Caroline Bain, chief commodities economist at Capital Economics. For some products, “it’s only going to get worse in February data.” Lack of parts from China has already forced Hyundai Motor Co. and Kia Motors to halt some car production temporarily in South Korea, while Fiat Chrysler Automobiles NV plans to do the same in Serbia. Just-in-time supply chains are starting to show their fragility. There will be more to come as shipments from Chinese ports continue to suffer delays. South Korea’s government says economic impact from the virus is “unavoidable.” The impact won’t stop at South Korea.In that light, OPEC’s forecast that global oil demand will be cut by just 440,000 barrels a day in the first quarter and by 230,000 barrels a day over the year as a whole looks like wishful thinking on the part of producers. It is doing them no favors, though. A delay in reducing supplies will only make the cuts needed later even deeper.To contact the author of this story: Julian Lee at jlee1627@bloomberg.netTo contact the editor responsible for this story: Melissa Pozsgay at mpozsgay@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Julian Lee is an oil strategist for Bloomberg. Previously he worked as a senior analyst at the Centre for Global Energy Studies.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Winners Circle is Latest Minority-owned Dealership to Open Through FCA Investment Program
    PR Newswire

    Winners Circle is Latest Minority-owned Dealership to Open Through FCA Investment Program

    Jarryd Carver purchases Pomoco Chrysler Dodge Jeep® Ram in Hampton, Virginia

  • Fiat Chrysler halts production in Serbia over China disruption
    Reuters

    Fiat Chrysler halts production in Serbia over China disruption

    Fiat Chrysler (FCA) said on Friday it had temporarily halted production at its Serbian plant, the first such suspension by an automaker in Europe in response to the coronavirus outbreak in China. Planned downtime at the Kragujevac plant in Serbia, where FCA builds its Fiat 500L car, has been rescheduled "due to availability of certain components sourced in China", a spokesman for the Italian American automaker said. Chief Executive Mike Manley said last week that disruptions to auto parts production in China could threaten output at one of FCA's European plants within two to four weeks.

  • Bloomberg

    N.Y. Dealers Threaten to Sue Fiat Chrysler Over Sales Tactics

    (Bloomberg) -- Fiat Chrysler Automobiles NV dealers in New York escalated a months-long feud with the manufacturer regarding its sales practices by threatening to sue over incentives that may disadvantage smaller stores.The cease-and-desist letter sent this month by the New York State Automobile Dealers Association is the starkest indication yet of tensions that Bloomberg News first reported in November. The frustrations spring from Fiat Chrysler adopting a system that attempts to anticipate the types of vehicles dealers are likely to order and aligns those internal analytics with manufacturing.Mismatches between the models Fiat Chrysler has been building and the cars and trucks that dealers actually order saddled the company with tens of thousands of unassigned vehicles last year. The automaker has cleared that inventory by offering incentives that have been cause for consternation at the dealer level.Fiat Chrysler has been sending daily emails to dealers across the country offering $1,500 “bonus cash coupons” to entice them to take cars from its inventory pool, according to the letter Robert Vancavage, the president of the New York dealers association, sent to Reid Bigland, the automaker’s U.S. sales chief. Dealers can apply the coupons to any model. The more cars and trucks they agree to take on from the pool, the more funds they get from the manufacturer to help sell cars without sacrificing their own profits.“A larger dealer with broader spending resources allotted for vehicle acquisitions will have an unfair advantage over a smaller dealer,” Vancavage wrote in the Feb. 6 letter, which was viewed by Bloomberg News. “In practice, the programs have created discriminatory and illegal two-tiered pricing in favor of larger, competitive Fiat Chrysler dealers compared to smaller dealers.”Vancavage didn’t respond to requests seeking comment on the letter. A Fiat Chrysler spokesman declined to comment.Dealers have said Fiat Chrysler’s practices amount to running a sales bank. The decades-old practice is frowned upon in the industry because it’s seen as a way for manufacturers to put off having to slow production.Fiat Chrysler has disputed the characterization and said the buildup of unassigned cars has been a side effect of a data-driven production strategy that it says is reducing costs. The company expects to keep boosting profit this year by increasing sales of Ram pickups as it finalizes a merger with France’s PSA Group.Dealers typically place orders with manufacturers about a month in advance of taking delivery, and the company tailors production to meet that demand. Vancavage wrote that the approach Fiat Chrysler has taken lately “appears to be outside FCA’s normal vehicle allocation to dealers.”In September, Fiat Chrysler agreed to pay a $40 million penalty related to filing years of sales reports the U.S. Securities and Exchange Commission said were fraudulent. The agency investigated after a disgruntled dealer filed an antitrust lawsuit that was later settled.To contact the reporter on this story: Gabrielle Coppola in New York at gcoppola@bloomberg.netTo contact the editors responsible for this story: Craig Trudell at ctrudell1@bloomberg.net, Tony RobinsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Bloomberg

    French Giant Looks at Tesla With Burning Envy

    (Bloomberg Opinion) -- On one side of the Atlantic, Tesla Inc. is capitalizing on its soaring share price by selling $2 billion in stock so it can build more electric vehicles. On the other, French manufacturer Renault SA has been forced to cut its dividend by 70% and announce a big reduction in fixed costs so it can afford to do the same.Dwindling profits and Renault’s drastic remedies were mirrored this week by its Japanese alliance partner Nissan Motor Co., as well at Daimler AG. (Renault has an engineering partnership with Daimler and owns a small stake in the German car and truck maker.) Their problems aren’t identical but all three had expanded their workforces in anticipation of demand that hasn’t materialized and now they have to tighten their belts to pay for expensive electric vehicles, for which demand remains uncertain.  Renault’s shares are near their lowest level in eight years, which means the company is capitalized at barely 10 billion euros ($11 billion), a sum that includes the 43% stake Renault owns in Nissan. Needless to say, that’s a sliver of what Tesla is worth, even though the U.S. company’s annual output is still almost a rounding error for the Renault-Nissan alliance.  This juxtaposition sends a crystal clear message: Carmakers that grew fat and happy producing combustion engine vehicles won’t get any help from the stock market now that they’ve decided to embrace an electric future. Instead the gasoline gang are going to fund these changes themselves and it’s going to be painful, for both employees and shareholders.Long-established automakers have decided that their salvation is to be found in alliances and partnerships, which spread the cost of developing expensive technology over a greater number of car sales. It’s why Renault tried to merge with Fiat Chrysler Automobiles NV, before Peugeot-owner PSA Group beat them to it.  But in Renault’s case its links to other manufactures are amplifying its problems right now, not solving them. Relations with Nissan fell apart when former alliance boss Carlos Ghosn was arrested and remain fragile now that he’s free to settle scores. Both sides have since hired new CEOs but their shareholders aren’t yet ready to buy the story that harmony has been restored.With its own profits slumping, Nissan can’t afford to pay big dividends to Renault and the French are also earning less from the Daimler partnership. The upshot is that Renault is a bit squeezed for cash — net cash at the automotive unit dwindled to just 1.7 billion euros at the end of December (though gross liquidity, including available credit lines, was a more respectable 16 billion euros). One way Renault could free up some money would be to sell part of its Nissan stake, which might have the added benefit of helping to re-balance the alliance in Nissan’s favor, something the Japanese have long sought. The trouble is Nissan’s shares have halved in value over the last two years so selling now wouldn’t provide Renault with nearly as much as it once would. Interim CEO Clotilde Delbos all but ruled out such a move on Friday.So it’s no wonder that Renault has opted to drastically scale back its own dividend and will try to cut costs by 2 billion euros in the next three years. Delbos, who’s also the chief financial officer, didn’t go into much detail about how those savings will be delivered but the company plans to review its “industrial footprint,” which suggests plant closures are a possibility. (Alliance partner Nissan has already announced 12,500 job cuts, while Daimler is targeting at least 10,000.)Lowering costs won’t be straight forward. New Renault CEO Luca de Meo, a former Volkswagen AG executive, doesn’t start until July and French unions aren’t known for championing efforts to slash jobs. In the near term, restructuring costs will also put further pressure on Renault’s cash flow and the coronavirus could yet create unexpected problems. But unlike at Tesla, Renault doesn’t have a queue of wealthy supporters clamoring to help fund this epochal clean-vehicle transition. One way or other, employees and existing shareholders will end up paying.To contact the author of this story: Chris Bryant at cbryant32@bloomberg.netTo contact the editor responsible for this story: Melissa Pozsgay at mpozsgay@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • A reminder that Tesla follows its own rules: Morning Brief
    Yahoo Finance

    A reminder that Tesla follows its own rules: Morning Brief

    Top news and what to watch in the markets on Friday, February 14, 2020.

  • FCA recalls 2019-20 Ram 2500 and 3500 trucks for transmission fluid leak
    Autoblog

    FCA recalls 2019-20 Ram 2500 and 3500 trucks for transmission fluid leak

    Once transmission fluid goes into the transmission, there's a general expectation that it will stay inside. Fiat Chrysler Automobiles (FCA) and the National Highway Traffic Safety Administration (NHTSA) opened a recall campaign on January 24,  due to transmission fluid leaking from the dipstick tube on vehicles with a six-speed automatic (codenamed 68RFE) transmission. NHTSA recall No. 20V043000 states that 84,978 trucks are potentially affected.

  • Michigan Minority Supplier Development Council Names FCA Executive as Chairman of the Board
    PR Newswire

    Michigan Minority Supplier Development Council Names FCA Executive as Chairman of the Board

    The Michigan Minority Supplier Development Council (MMSDC) named FCA North America Head of Purchasing and Supply Chain Management Scott Thiele as Chairman of the Board for the next two years, leading the group's efforts to advance opportunities for minority-owned businesses. He replaces DTE Chief Procurement Officer Tony Tomczak.

  • 'Groundhog Day' with Jeep® Gladiator and Bill Murray Is the 2020 Big Game's Most Viewed Commercial on Social Media With 104,246,754 Views
    PR Newswire

    'Groundhog Day' with Jeep® Gladiator and Bill Murray Is the 2020 Big Game's Most Viewed Commercial on Social Media With 104,246,754 Views

    "Groundhog Day" has been viewed 104,246,754 times across the Jeep® brand's YouTube, Facebook, Twitter and Instagram channels

  • Exor expects $13 billion for careful acquisitions after PartnerRe sale
    Reuters

    Exor expects $13 billion for careful acquisitions after PartnerRe sale

    Investment group Exor will have around $13 billion in cash provided it closes a deal to sell its reinsurance unit PartnerRe and it would spend most of that on acquisitions, a source close to the matter told Reuters. The holding group of Italy's Agnelli family, which also controls Fiat Chrysler , said on Sunday it was in exclusive talks to sell PartnerRe to France's Covea. The deal could be worth around $9 billion in cash and drove shares in Exor up by more than 5% on Monday to an all-time high.

  • Here’s the case for buying Ford, GM or Fiat Chrysler instead of Tesla
    MarketWatch

    Here’s the case for buying Ford, GM or Fiat Chrysler instead of Tesla

    Ford Motor Co. (F) did even worse, posting a $1.7 billion quarterly loss that sent the shares skidding. Conventional wisdom is that Big Auto is doomed in the age of electric vehicles. After all, there are plenty of growth stocks that post dizzying declines as they fail to meet expectations — and plenty of boring and battered picks that surprise the bears with short-term outperformance.

  • The Zacks Analyst Blog Highlights: General Motors, Ford, Fiat Chrysler and Tesla
    Zacks

    The Zacks Analyst Blog Highlights: General Motors, Ford, Fiat Chrysler and Tesla

    The Zacks Analyst Blog Highlights: General Motors, Ford, Fiat Chrysler and Tesla

  • New Strong Buy Stocks for February 10th
    Zacks

    New Strong Buy Stocks for February 10th

    New Strong Buy Stocks for February 10th

  • Bloomberg

    Billionaire Agnellis Are Tempted by a Sack of French Cash

    (Bloomberg Opinion) -- The billionaire Agnelli family is being tempted with the possibility of exiting the reinsurance industry with a sack of cash. Who wouldn’t succumb? The only question is whether the $9 billion approach for their PartnerRe business can be turned into a real deal, and what to do with the proceeds if a transaction happens.French mutual insurer Covea has approached the Agnelli-controlled investment company, Milan-listed Exor NV, about buying Partner Re, Bloomberg News revealed this weekend. At the mooted price, a transaction would be at a roughly 50% premium to the business’s last reported tangible book value of $6.1 billion, but less than 20% above its valuation in Exor’s last annual results. That suggests the final price could be higher. Analysts at Bank of America Merrill Lynch reckon $10 billion would be fairer, noting that European peers trade at a 70% premium to tangible book value.Such an exit would be a good outcome for the Agnellis. PartnerRe was acquired for $6.9 billion in early 2016. It’s hard to see how holding on could deliver the same payback in the near future. This is a specialized industry and PartnerRe’s future surely lies in teaming up within the sector, rather than staying within a diversified investment company.Whether Covea is the appropriate partner remains to be seen. It’s not hard to guess what motivated its approach. Covea is a mutual insurer with stacks of excess capital and no shareholders to distribute it to. M&A is the natural means to put that financial resource to work. This partly drove a failed takeover approach for reinsurer Scor SE in 2018 — along with the risk that Scor, capitalized at 6.9 billion euros ($7.6 billion), might itself do a deal with PartnerRe.Covea has no shareholders to object to it overpaying, but its board and regulators need to be sure of the strategic and financial logic of a jumbo acquisition. Its core business is conventional general insurance. Reinsurance would bring diversification, but also a fresh test for Chief Executive Officer Thierry Derez.In normal times, Derez might get the benefit of the doubt. But the Scor debacle has left unfinished business. Scor is suing him for breach of trust (he was on the target’s board prior to the approach). The French insurance regulator has reportedly criticized the very public row. It has written to Covea seeking improvements to its governance, according to Les Echos. Covea rejects Scor’s allegations as groundless.The French suitor’s ability to close any deal unchallenged is open to doubt, though. An all-share tie-up with Scor remains the obvious alternative for PartnerRe. That would be consistent with Exor’s strategy to make the group a more meaningful rival to the likes of industry giants Munich Re and Swiss Re AG.Still, a generous cash deal would be preferable. It would be more likely to narrow the discount at which Exor shares trade relative to underlying asset value — slightly more than 20%, based on BAML estimates for 2019. The impending special dividend on Exor’s shares in Fiat Chrysler Automobiles NV following the carmaker’s combination with Peugeot SA won’t on its own move the group into a net cash position from its current 2.4 billion euros of net debt.Markets may be expensive right now but that won’t last forever. Building a war chest for opportunistic dealmaking in other sectors makes sense for the Agnellis.To contact the author of this story: Chris Hughes at chughes89@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Agnellis in Talks to Sell PartnerRe to Covea for $9 Billion
    Bloomberg

    Agnellis in Talks to Sell PartnerRe to Covea for $9 Billion

    (Bloomberg) -- French insurer Covea is in advanced talks with the Agnelli family’s Exor NV to buy the Italian company’s reinsurance business PartnerRe for about $9 billion in cash, according to people familiar with the discussions.Covea approached Exor with an offer for the Bermuda-based reinsurer and is in exclusive talks with the holding company, which also controls Fiat Chrysler NV and Ferrari NV, said the people, who asked not to be identified as the discussions are private.Exor and Covea confirmed the exclusive discussions, which were first reported by Bloomberg. Talks “are ongoing and there is no certainty that they will result in a transaction,” Amsterdam-based Exor said in a statement late Sunday.Exor shares rose as much as 4.9% in Milan trading, giving the company a market value of 17.6 billion euros ($19.3 billion).Exor, led by Agnelli scion John Elkann -- who’s also chairman of Fiat and Ferrari -- agreed to buy PartnerRe in 2015 valuing the company at about $6.9 billion. That was part of a plan to diversify assets away from the capital-intensive automotive industry. A sale for $9 billion in cash would mark a significant gain for the Italian billionaire clan.The Agnelli family owns 53% of Exor through a separate holding company which takes its name from Fiat founder Giovanni Agnelli and pools dozens of his descendents as its investors.Exor won a hostile takeover battle for PartnerRe in 2015, breaking up a merger agreement between the reinsurer and Axis Capital Holdings Ltd. A sale of the company would be another major deal for Elkann just months after Fiat Chrysler agreed to combine with PSA Group to create the world’s fourth-biggest carmaker.“A disposal of PartnerRe would increase the M&A appeal on Exor on top of the Fiat-PSA deal and CNH Indutrial’s spinoff plan,” Mediobanca analysts wrote in a note to clients. Fiat will pay a special dividend of 5.5 billion euros with the completion of the PSA deal and CNH Industrial plans to separate its truck unit at the beginning of next year. Exor owns 27% of CNHI and 29% of Fiat Chrysler.The acquisition of PartnerRe would help Covea diversify its business beyond home, auto, life and health insurance coverage. Insurers and reinsurers are under pressure from low to negative interest rates at which they have to invest a large chunk of their premiums. Insurers thus have turned to deal-making and ways of diversifying their revenue streams, including moves into reinsurance and asset management.If successful, it would be biggest deal in the industry since Axa SA bought XL in 2018 for $15.3 billion. Covea abandoned efforts to buy its French rival Scor in 2019, ending one of the country’s most acrimonious takeover attempts in recent years. Reinsurers insure risks of primary insurers such as Covea and have themselves been subject to pricing pressure and consolidation in the industry.\--With assistance from Chiara Remondini.To contact the reporters on this story: Tommaso Ebhardt in Milan at tebhardt@bloomberg.net;Geraldine Amiel in Paris at gamiel@bloomberg.net;Jan-Henrik Förster in London at jforster20@bloomberg.netTo contact the editors responsible for this story: Chad Thomas at cthomas16@bloomberg.net, Jerrold Colten, Guy CollinsFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Mopar Introduces New Limited-edition Jeep® Wrangler JPP 20 to Showcase Jeep Performance Parts
    PR Newswire

    Mopar Introduces New Limited-edition Jeep® Wrangler JPP 20 to Showcase Jeep Performance Parts

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  • What's Ahead for Detroit 3 Carmakers After a Weak 2019?
    Zacks

    What's Ahead for Detroit 3 Carmakers After a Weak 2019?

    In 2019, revenues, earnings and vehicle sales for each of the Detroit 3 carmakers decline.

  • Fiat reaches settlement with Italy tax agency over Chrysler value claim
    Reuters

    Fiat reaches settlement with Italy tax agency over Chrysler value claim

    Fiat Chrysler has reached a settlement with Italian tax authorities over the valuing of its U.S. Chrysler business involving no cash payment or penalty, the group's chief financial officer said. In December the carmaker challenged a claim by the Italian tax agency saying it had underestimated the value of its U.S. business by 5.1 billion euros ($5.6 billion) after acquiring Chrysler. According to a source at the time, the agency's audit of transactions dating back to 2014 could have left FCA facing a tax bill of $1.5 billion.

  • New 2020 Jeep® Gladiator Mojave: the Ultimate High-performance Off-road Midsize Pickup
    PR Newswire

    New 2020 Jeep® Gladiator Mojave: the Ultimate High-performance Off-road Midsize Pickup

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  • Global automaker supplies threatened by China coronavirus crisis
    Reuters

    Global automaker supplies threatened by China coronavirus crisis

    The threat from the coronavirus crisis closed in on the global auto industry on Thursday, as Fiat Chrysler Automobiles NV warned that a European plant could shut down within two to four weeks if Chinese parts suppliers cannot get back to work. The next several weeks will be critical for automakers. Parts made in China are used in millions of vehicles assembled elsewhere, and China's Hubei province, epicentre of the coronavirus outbreak, is a major hub for vehicle parts production and shipments.

  • FCA Belvidere Assembly Plant Awarded Silver Status for Continuous Efforts to Improve in World Class Manufacturing
    PR Newswire

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