Agnieszka's Feed
May 8, 2014

Fiat Chrysler headquarters will be in London, CEO confirms

DETROIT (Reuters) – The headquarters of the newly merged Fiat Chrysler Automobiles (FCA) (FIA.MI: Quote, Profile, Research, Stock Buzz) will be moved to London, Chief Executive Sergio Marchionne clarified on Thursday, cementing a politically sensitive shift away from Italy, Fiat’s home for the past 115 years.

Fiat’s home is currently in Turin, Italy, while Chrysler is headquartered in Auburn Hills, outside of Detroit.

May 8, 2014

Asia success still long shot for ambitious Fiat Chrysler

DETROIT (Reuters) – If Fiat Chrysler Automobiles (FIA.MI: Quote, Profile, Research, Stock Buzz) wants to become a significant force in Asia, it needs to succeed in China. But its track record so far in the world’s largest automobile market raises doubts about its ability to deliver on growth promises, analysts say.

The newly merged auto company has been present in China for some time, but it has a market share of only 0.6 percent both in that country and in the Asia-Pacific region. It lags far behind rivals that are truly global players, including Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz), Volkswagen AG (VOWG_p.DE: Quote, Profile, Research, Stock Buzz), General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) and Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz).

Apr 14, 2014

Porsche’s success looms over Maserati sales push

MILAN (Reuters) – As Fiat Chrysler (FIA.MI: Quote, Profile, Research, Stock Buzz) moves to reinvent its small Maserati brand as a serious rival to the world’s luxury car makers, the pressure to succeed is all the greater for the startling success of Germany’s Porsche.

The German sportscar maker has set the standard for multiplying sales of an expensive brand without damaging the exclusive image that reaps big profits.

Mar 31, 2014

Fiat chief sets production aim of 6 mln cars a year by 2018

TURIN, Italy, March 31 (Reuters) – Fiat Chrysler Automobiles
(FCA) will be able to make more than 6 million cars a
year by 2018 as its strategy focused on relaunching the Alfa
Romeo and Maserati marques bears fruit, its chief executive said
on Monday.

Speaking after a shareholders’ meeting in Fiat’s hometown
Turin in northern Italy, Sergio Marchionne’s comments underscore
his upbeat view of the group’s prospects following the full
merger with U.S. partner Chrysler and reinforce a long-cherished
production objective.

Mar 31, 2014

Fiat-Chrysler shares rise as company sees boost from merger

TURIN, Italy, March 31 (Reuters) – Fiat Chrysler Automobiles
(FCA) has told shareholders to expect plenty of good
news as the completion of a full merger with U.S. unit Chrysler
opens greater global opportunities for the world’s
seventh-largest carmaker.

Shares in Fiat SpA – the original Italian company which is
merging with its U.S. partner – rose some 2 percent to their
highest in more than six years.

Mar 27, 2014

Currency swings force Pirelli to cut 2014 sales target

MILAN (Reuters) – Pirelli (PECI.MI: Quote, Profile, Research, Stock Buzz), the world’s fifth-largest tiremaker, has cut its sales target for this year, citing worse-than-expected currency effects, after delivering 2013 results in line with its own previously-lowered forecasts.

The Italian company, whose tires equip motorcycles, cars and Formula 1 racers, said it expects to report sales of 6.2 billion euros ($8.52 billion) this year, up nearly 1 percent on 2013 but down from a previous target of 6.6 billion euros. The adjustment was largely expected.

Mar 26, 2014

Political uncertainty to weigh on Pirelli’s Russia expansion plans

MILAN, March 26 (Reuters) – The Ukraine crisis and the
possibility of a recession in Russia creates uncertainty for
Pirelli’s plans to use a tie-up with oil group Rosneft
to expand in the country, seen as a big growth market for the
Italian tyre company’s products.

Rosneft agreed a deal earlier this month to become
Pirelli’s single biggest shareholder, thus offering Pirelli the
chance to exploit the Russian company’s big gas station network
to sell tyres.

Mar 20, 2014

Piaggio sees core earnings growing 70 pct by 2017

MILAN, March 20 (Reuters) – Italian motorcycle and scooter
maker Piaggio forecast 70 percent growth in core
earnings up to 2017, helped by Europe’s gradual economic
recovery and plans to expand in Asia.

The maker of the iconic Vespa scooter and Aprilia motorbikes
said it expects earnings before interest, tax, depreciation and
amortisation (EBITDA) to rise to around 250 million euros ($345
million) by 2017 from 146.8 million euros last year.

Mar 18, 2014

European car sales up for sixth month as economies recover

MILAN, March 18 (Reuters) – European car sales rose 7.6
percent in February, as a gradual economic recovery in Portugal,
Spain and Italy boosted demand for mass-market brands, industry
data showed on Tuesday.

New passenger-car registrations in the European Union and
European Free Trade Association trading bloc rose for the sixth
straight month to 894,730 vehicles in February from 831,371 in
February a year ago, according to data from the Association of
European Carmakers (ACEA).

Mar 17, 2014

Russia’s Rosneft to control 13 pct of Italy’s Pirelli

MILAN, March 17 (Reuters) – Rosneft has struck a
deal with a group of Italian shareholders that will give it
control over a 13 percent stake in Italy’s Pirelli,
making it the single biggest shareholder in the tyremaker.

The deal is the latest in a string of acquisitions of
Italian companies by foreign players that are snapping up assets
as the country shows first signs of emerging from its longest
recession in 70 years.