Bernie's Feed
Jan 13, 2014

Fiat’s Marchionne to stay on for at least 3 years

DETROIT/MILAN (Reuters) – Sergio Marchionne will remain the chief executive of Fiat (FIA.MI: Quote, Profile, Research, Stock Buzz) for another three years at least, Chairman John Elkann said on Monday, ending speculation that the architect of landmark deal with Chrysler may soon retire.

Marchionne, who took the helm of Fiat a decade ago and in 2009 also started running Chrysler, had previously he could step down in 2015.

Jan 13, 2014

Chrysler trumpets shared design with Fiat as Chrysler 200 debuts

DETROIT, Jan 13 (Reuters) – The Chrysler 200 mid-sized sedan
to be rolled out this week at the Detroit auto show will be the
third model built on the same European-based vehicle
architecture by Chrysler Group LLC, as the company moves forward
with a design strategy focused on slashing development times and
costs.

Chrysler and its Italian parent, Fiat SpA, are
playing catch-up with other global automakers such as crosstown
rivals General Motors Co and Ford Motor Co in
developing cost-cutting shared architectures.

Jan 12, 2014

Global auto sales forecast rosy, with reservations, for 2014

DETROIT (Reuters) – Automakers are upbeat about global auto sales this year despite fears of a slowdown in the United States, which generates big profits and where sales have surged 50 percent since the recession.

Europe is expected to begin bouncing back from its 20-year lows and China, the world’s largest auto market, will likely continue to post double-digit gains, helped by an array of stimulus measures and robust demand in smaller inland cities. But slowing demand in the second-largest auto market, the United States, has some analysts worried incentives could rise and bit into profit margins.

Jan 10, 2014

VW poised for SUV go-ahead as U.S. slide threatens goals

BERLIN/DETROIT (Reuters) – Volkswagen is preparing to build sport utility vehicles in North America as it struggles to conquer a market whose resistance is threatening its bid to be world No. 1.

The German carmaker prefers its Tennessee factory over a Mexican plant to produce the new SUV and may announce the plan as soon as next week’s Detroit auto show, said a source familiar with the matter who asked not to be identified.

Jan 3, 2014

Chrysler says snow, ice pressured Dec U.S. auto sales

DETROIT (Reuters) – Chrysler Group LLC on Friday said that late-month snow and ice storms pressured U.S. auto sales, causing the industry to show only a 1 percent gain over last year, missing expectations of a 4 percent increase.

“It looks like the bad weather kept the sales penned in,” said Chrysler spokesman Ralph Kisiel.

Dec 30, 2013

U.S. December auto sales seen up 4 percent

DETROIT, Dec 30 (Reuters) – December U.S. auto sales,
spurred by end-of-the-year bargains, likely rose about 4 percent
from a year earlier, industry analysts said.

If confirmed, that would mean 2013 will end as the best for
U.S. auto sales since pre-recession 2007, at around 15.6 million
new cars and trucks sold, which would be an increase of about 8
percent from 2012.

Dec 27, 2013

Hyundai Motor U.S. names new chief, Krafcik out

DETROIT (Reuters) – Hyundai Motor Co (005380.KS: Quote, Profile, Research, Stock Buzz) said on Friday its U.S. chief, John Krafcik, is stepping down after his contract was not renewed and will be replaced by the U.S. sales chief David Zuchowski.

During Krafcik’s five-year tenure Hyundai’s share of the U.S. market rose to as high as 5.1 percent for 2011 from 3 percent in 2008. But it has fallen to 4.6 percent due mainly to production capacity constraints.

Dec 18, 2013

Exclusive: Tesla Model S charging system may have started garage fire – California fire dept

By Bernie Woodall and Norihiko Shirouzu

(Reuters) – A fire department in Southern California said a garage fire may have been caused by an overheated charging system in a Tesla Model S sedan, in the latest link between the top selling electric car and the potential for fire.

While Tesla Motors Inc maintains that the fire was not related to the car or its charging system, the Orange County Fire Authority said the Tesla-supplied charging system or the connection at the electricity panel on the wall of the garage of a single-family home could have caused the fire.

Dec 12, 2013

Volkswagen’s U.S. chief leaves company, Horn named replacement

DETROIT (Reuters) – Volkswagen AG’s (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) U.S. Chief Executive Officer Jonathan Browning has left the company for personal reasons and is to be replaced by 51-year-old Michael Horn, the company announced from its Wolfsburg, Germany headquarters on Thursday.

Browning, 54, a former executive at General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) and Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz), had been with VW since 2010. Volkswagen said on Thursday that Browning will return to Britain, where he is from.

Dec 12, 2013

VW’s U.S. chief leaves company, Horn named replacement

DETROIT, Dec 12 (Reuters) – Volkswagen AG’s U.S.
Chief Executive Officer Jonathan Browning has left the company
for personal reasons and is to be replaced by 51-year-old
Michael Horn, the company announced from its Wolfsburg, Germany
headquarters on Thursday.

Browning, 54, a former executive at General Motors Co
and Ford Motor Co, had been with VW since 2010. Volkswagen
said on Thursday that Browning will return to Britain, where he
is from.