MILAN, June 27 (Reuters) – Sergio Marchionne needs a New
York stock market listing to bring in the investors required to
fund future growth at Fiat Chrysler, but a lukewarm response to
the chief executive’s most recent Wall Street launch suggests he
has a bumpy journey ahead.
Fiat expects to finalise the merger with its U.S.
unit Chrysler this year. Marchionne plans an October listing in
New York for Fiat Chrysler Automobiles (FCA) to help foot the
bill for his 48 billion euro ($65 billion) spending plan to grow
net profits five-fold and sales by 60 percent within five years.
MODENA, Italy, June 19 (Reuters) – Luxury carmaker Maserati,
part of Fiat Chrysler, expects to sell as many cars in the first
six months of this year as it did in the whole of 2013, the
brand’s chief executive said on Thursday, as it pushes to grow
globally and rival its German peers.
Maserati put in a good performance last year, with sales
more than doubling to 15,400 vehicles as parent Fiat Chrysler
Automobiles bet on the premium brand’s Italian allure
and recognised sporting heritage to try compete with the likes
of BMW and Volkswagen’s Audi and Porsche.
MILAN/ROME, June 5 (Reuters) – Alitalia is expected to give
an initial green light to a tie-up with Etihad Airways at a
board meeting on Friday in a last-ditch attempt to save a
carrier that many in the industry have regarded as a lost cause.
The Italian flagship carrier has made an annual profit only
a few times in its 68-year history and received numerous state
handouts before being privatised in 2008.
VENARIA REALE, Italy, June 4 (Reuters) – Truck and bus maker
Iveco, a unit of CNH Industrial , is betting
on a complete revamp of its Daily small truck to grab market
share in Europe, tap recovering demand and rival Mercedes, the
head of the brand said on Tuesday.
Iveco has invested 500 million euros ($681 million) to redo
the flagship small truck, redesigning 80 percent of its
components, making it lighter, more efficient and easier to load
and drive, Lorenzo Sistino said at the Daily’s launch.
TURIN, Italy, May 22 (Reuters) – Italian investment company
Exor, the listed holding company for Fiat’s founding
family the Agnellis, is looking to make one or two other major
investments that would complement the current portfolio, and
would most likely be in a services sector, Chairman and Chief
Executive John Elkann said on Thursday.
Elkann said Exor, whose three major investments include
controlling stakes in Fiat Chrysler Automobiles (FCA),
tractor and truckmaker CNH Industrial and real estate
group Cushman & Wakefield, would look at companies that are
similar to those three in that they have roots in Europe or
America but operate globally.
DETROIT (Reuters) – Tractor and truck maker CNH Industrial NV (CNHI.MI: Quote, Profile, Research, Stock Buzz) (CNHI.N: Quote, Profile, Research, Stock Buzz) expects to raise operating profit for its industrial activities by as much as 60 percent and become debt free over five years by expanding and refreshing its product lineup and growing in Asia.
Chief Executive Richard Tobin, in an investor presentation on Thursday, said he planned to boost the group’s farming equipment portfolio and its geographic reach, return the construction machinery business to profitable growth and introduce new models for its pressured truck unit.
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.
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).
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.
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
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