Bernie's Feed
Jan 17, 2014

Chrysler CEO insists Jeep can hit 1 million sales in 2014

DETROIT (Reuters) – Now that Italy’s Fiat SpA (FIA.MI: Quote, Profile, Research, Stock Buzz) has almost closed its deal to buy the portion of Chrysler it does not already own, one of the main items on the to-do list of Chief Executive Officer Sergio Marchionne is expanding the global reach of the Jeep brand.

And Marchionne, the CEO of both Fiat and Chrysler, wasted little time this week in making a prediction that some analysts regard as bold: Jeep will achieve its goal this year of selling 1 million sport utility vehicles around the world.

Jan 15, 2014

UAW chief upbeat on VW organizing drive, 2015 contract talks

DETROIT, Jan 15 (Reuters) – United Auto Workers President
Bob King said on Wednesday that he is confident the U.S. union
will be able to organize workers at the Volkswagen AG
plant in Tennessee by the time he leaves office in
June.

King said talks with Volkswagen officials are continuing
apace, but he did not say when or if a vote by the plant’s
workers will be held.

Jan 14, 2014

Chrysler CEO pressures Canadians on minivan investment

DETROIT/TORONTO, Jan 14 (Reuters) – The chief executive
officer of Chrysler Group LLC, which is planning to invest more
than $1 billion to modernize a Canadian minivan plant, said on
Tuesday it could scrap the upgrade and move production and jobs
elsewhere if government and labor officials fail to come through
with financial incentives.

To keep production at the assembly plant, across the river
from Detroit in Windsor, Ontario, Chrysler must get a deal to
cut costs, Sergio Marchionne told reporters at the Detroit auto
show.

Jan 13, 2014

Marchionne to stay as Fiat-Chrysler CEO until at least 2017

DETROIT/MILAN (Reuters) – Sergio Marchionne has pledged to stay on as chief executive of Fiat-Chrysler for at least three years to see through the full merger of the Italian carmaker and its U.S. business, and a new strategy to turn around its loss-making operations in Europe.

Marchionne, who took the helm of Fiat a decade ago and in 2009 also started running Chrysler, had previously said he could step down in 2015 and some analysts feared uncertainty over his future at the combined company could cloud its prospects.

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.