Agnieszka's Feed
Sep 19, 2014

Fiat and Mitsubishi Motors team up on new pickup

MILAN/TOKYO, Sept 19 (Reuters) – Mitsubishi Motors
will produce a new pickup for Fiat from 2016 in a deal
to boost the Italian carmaker’s commercial vehicle sales and
raise output at the Japanese company’s plant in Thailand.

According to a non-binding memorandum of understanding
unveiled on Friday, the companies will team up to develop and
manufacture the pickup which would be supplied by Mitsubishi and
based on its best-selling model, the L200.

Sep 17, 2014

European car sales rise, helped by Spanish subsidies

FRANKFURT, Sept 17 (Reuters) – Car sales in Europe rose in
August but analysts and executives pointed to a heavy reliance
on government incentives in Spain and a fall in sales in big
markets Germany, France and Italy as signs a European recovery
may be faltering.

Mass-market carmakers Volkswagen, Ford and
Opel all made gains, while premium makers BMW,
Mercedes-Benz and Audi lost ground.

Sep 11, 2014

Fiat Chrysler CEO sticks to 2014 guidance

BALOCCO Italy (Reuters) – Fiat Chrysler (FIA.MI: Quote, Profile, Research, Stock Buzz) CEO Sergio Marchionne said on Thursday he saw no reason at present to review the carmaker’s 2014 financial guidance despite tough European and Latin American markets.

After Fiat’s poor second-quarter results, analysts were widely expecting a cut in full-year guidance. For 2014, the auto group expects to raise operating profit, excluding one-off items, by as much as 14 percent.

Sep 10, 2014

Ferrari chairman quits to leave Fiat’s Marchionne in driving seat

MILAN (Reuters) – Ferrari chairman Luca Cordero di Montezemolo is quitting the Italian sports car maker to be replaced by the boss of parent group Fiat (FIA.MI: Quote, Profile, Research, Stock Buzz), Sergio Marchionne, after the two auto industry heavyweights clashed over strategy and the Formula One team’s poor results.

Long-serving Montezemolo, a protégé of Fiat’s founding Agnelli family, will formally step down on Oct. 13, the day that Marchionne plans to list the newly merged Fiat Chrysler Automobiles (FCA) in New York, Fiat and Montezemolo said in separate statements.

Aug 14, 2014

Fiat Chrysler growth plan challenged by possible merger delay

MILAN (Reuters) – Sergio Marchionne has shown he is determined to let nothing stand in the way of Fiat’s merger with Chrysler, but a share price slide may yet force the CEO to hit the brakes on plans to turn the world’s No. 7 carmaker into a top player.

Fiat bought out Chrysler at the start of 2014 and both operate as one firm. Marchionne now plans to merge them into a single legal entity Fiat Chrysler Automobiles (FCA) to boost the firm’s global clout and pave the way for a U.S. listing he says is key to help fund a 48-billion euro ($64 billion) growth plan.

Aug 6, 2014

Fiat CEO blames ‘overreaction’ for sell-off threatening merger

MILAN/DETROIT (Reuters) – Fiat (FIA.MI: Quote, Profile, Research, Stock Buzz) Chief Executive Sergio Marchionne on Wednesday blamed overblown press reports and a “lack of understanding” of the merger with its U.S. unit Chrysler for a share sell-off that threatens to blow the planned tie-up off course.

Marchionne wants to incorporate the two carmakers into Dutch-registered entity Fiat Chrysler Automobiles (FCA), paving the way for a U.S. listing key to help fund an ambitious investment plan at the world’s No.7 auto group.

Aug 5, 2014

Campari cuts profit margin forecast on expansion costs

MILAN, Aug 5 (Reuters) – Italian drinks group Campari
cut its full-year profit margin forecast on Tuesday,
blaming the cost of its expansion plans in the United States and
Spain and overshadowing a pick up in underlying sales in the
second quarter.

The maker of the eponymous bitter red aperitif said on
Tuesday it was now aiming to achieve a flat gross profit margin
this year.

Aug 5, 2014

Italy’s Brembo seeks growth on road, race track and in the skies

MILAN, Aug 5 (Reuters) – Niki Lauda once won Formula One world championships with Brembo’s brakes, while today Ferrari and Porsche use them on road and racing cars alike. Now the Italian firm is about to land another deal equipping top-end Japanese motorbikes, and plans to expand into aviation.

In a country where many manufacturers struggle to compete internationally, Brembo has used innovation, combined with production on four continents, to carve out a niche supplying brake discs and calipers to the high-performance motor industry.

Aug 1, 2014

Fiat investors approve Chrysler merger

TURIN, Italy, Aug 1 (Reuters) – Fiat shareholders
approved the Italian carmaker’s merger with its U.S. unit
Chrysler on Friday, paving the way for a U.S. listing which the
world’s seventh-biggest auto group hopes will help fund an
ambitious turnaround plan.

Fiat Chief Executive Sergio Marchionne completed the full
buyout of Chrysler earlier this year and wants to incorporate
the two as a Dutch-registered combine, Fiat Chrysler Automobiles
(FCA).

Jul 31, 2014

Fiat investors vote on Chrysler merger to ease access to cash, U.S. investors

TURIN Italy (Reuters) – Fiat (FIA.MI: Quote, Profile, Research, Stock Buzz) shareholders are expected to approve the Italian carmaker’s merger with its U.S. unit Chrysler on Friday, a union aimed at boosting the world’s seventh-largest auto group’s appeal with foreign investors and paving the way for a U.S. share listing.

Chief Executive Sergio Marchionne completed the buyout of Chrysler earlier this year and is hoping to incorporate the two as a Dutch-registered combine, Fiat Chrysler Automobiles (FCA).