Bernie's Feed
Feb 28, 2013

Fiat CEO sees 50 percent chance of Chrysler IPO, prefers buyout

KOKOMO, Indiana (Reuters) – Sergio Marchionne, the chief executive of both Fiat and its majority-owned Chrysler Group LLC unit, said he sees a 50 percent chance that Chrysler will go public but would prefer that it be fully merged with Fiat.

Fiat shares ownership in the smallest U.S. automaker with a retiree trust fund affiliated with the United Auto Workers labor union. Marchionne said he would prefer that Italian automaker Fiat buy the trust fund’s holdings.

Feb 28, 2013

UAW meets with Nissan Tennessee workers about organizing

By Bernie Woodall

(Reuters) – Workers from the Nissan Motor Co auto plant in Smyrna, Tennessee, met on Tuesday with United Auto Workers union representatives to discuss another organizing effort at the Japanese automaker’s first U.S. factory.

The UAW is now active in trying to organize workers at two Nissan plants. The UAW since last spring has been talking with workers at Nissan’s other major U.S. assembly plant, in Canton, Mississippi, outside of Jackson.

Feb 26, 2013

U.S. February auto sales data expected to show sustained recovery

DETROIT, Feb 26 (Reuters) – U.S. auto sales in February were
expected to show a fourth straight month of seasonally adjusted
annualized sales above 15 million vehicles for the first time
since early 2008, a sign of a sustained recovery after the
recession.

Forty-one analysts surveyed by Thomson Reuters forecast on
average a 4 percent rise in February sales, to an annualized
rate of 15.1 million vehicles. The forecasts ranged from 14.9
million to 15.75 million vehicles, on an annualized basis.

Feb 19, 2013

Mystery hackers hijack Jeep’s Twitter feed after Burger King coup

Feb 19 (Reuters) – Hackers took over Chrysler’s
Jeep Twitter account on Tuesday, sending out colorful tweets
disparaging the off-road vehicle and company management just a
day after Burger King’s feed was similarly hijacked.

The unidentified cyber-attackers replaced Jeep’s logo with
Cadillac’s and suggested Chrysler’s iconic group had been sold
to the General Motors Co luxury brand, forcing Cadillac
to clarify that it had nothing to do with the hack on its own
Twitter feed.

Feb 11, 2013

Hyundai’s American chief sees 2013 U.S. sales up 4.4 pct

, Feb 11 (Reuters) – The addition of a third
shift at its Alabama plant last year will allow South Korean
automaker Hyundai Motor Co to increase its U.S.
sales 4.4 percent in 2013 to 734,000, Hyundai Motor America
Chief Executive John Krafcik said on Monday.

Adding the third shift to the plant in Montgomery, Alabama
allows an additional 60,000 units of annual production, Krafcik
said.

Feb 10, 2013

Ford to offer $750,000 match for dealer investment

ORLANDO, Florida (Reuters) – Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) will offer dollar-for-dollar matching funds to its 3,100 U.S. dealers to upgrade their shops, from new construction to improved digital programs, Ford executives said on Sunday.

Jim Farley, Ford’s global chief for sales, service and marketing, said he hopes all of Ford’s U.S. dealers will participate.

Feb 10, 2013

Chrysler says Alfa Romeo will eventually outsell Fiat in U.S.

ORLANDO, Florida (Reuters) – Fiat SpA’s (FIA.MI: Quote, Profile, Research, Stock Buzz) Alfa Romeo will outsell stablemate Fiat in the United States once the sporty brand gets a foothold in its new market and expands to sell larger models, an executive with Fiat-owned Chrysler Group said on Saturday.

The first Alfa Romeo to be sold in the United States in nearly two decades, the 4C sports car, is expected to arrive late this year. Alfa Romeo will be sold at Fiat dealerships in the United States.

Feb 8, 2013

AutoNation’s chief warns of reckoning for autos, U.S. economy

ORLANDO, Florida (Reuters) – The U.S. auto industry and the nation’s economy face a reckoning despite recent gains in economic growth and vehicle sales, both fueled by stimulus programs, the head of the largest U.S. auto dealer group said on Friday.

However, Mike Jackson, chief executive of AutoNation Inc (AN.N: Quote, Profile, Research, Stock Buzz), said auto sales will not suffer in the next few years as that reckoning is at least a decade away.

Jan 31, 2013

AutoNation earnings beat Wall Street estimates

Jan 31 (Reuters) – AutoNation Inc, the largest U.S.
auto dealer group, said strong new vehicle sales boosted its
fourth-quarter net income by 20 percent and revenue by 13
percent.

New-vehicle sales in the fourth quarter rose 19 percent to
$2.48 billion.

In early trading on the New York Stock Exchange on Thursday,
AutoNation shares were up 0.6 percent at $45.35.

Jan 30, 2013

Fiat debts grow as recovery spending mounts

DETROIT/MILAN, Jan 30 (Reuters) – Fiat said on
Wednesday its debt grew by about 1 billion euros in 2012 as
European car sales tumbled 14 percent, leaving the Italian
carmaker ever more dependent on strong growth at U.S. unit
Chrysler.

As Fiat’s management moves to increase spending on new
models in Europe and the United States, investors are keeping a
close watch on its debts for signs that cash-burning European
operations are straining the group’s crucial ability to invest
in products that will win customers in the future.