Fiat Chrysler Automobiles signaled that it will have more cash on hand than debt on its books by the end of this month for the first time since the merger that created it in 2009 during a wide-ranging series of long-term plans presented in Balocco, Italy. Jeep, Ram and luxury products highlighted the early presentations.
Fiat Chrysler CEO Sergio Marchionne is expected to show on Friday how the automaker plans to fix lagging margins in Europe, grow Jeep into a global giant and catch up in electric and self-driving cars - all without him in the driving seat.
Fiat Chrysler will not present a future plan for its eponymous Fiat and Chrysler brands, as well as Dodge and Lancia -- placing those storied but troubled mass-market brands' futures in question -- according to a schedule of presentations listed by FCA for the daylong event on Friday.
Later this week, hundreds of stock analysts and journalists from across the globe will gather in Balocco, Italy, to hear retiring Fiat Chrysler Automobiles CEO Sergio Marchionne and his top lieutenants lay out the automaker's next five-year business plan — a plan that will be the first executed without Marchionne at the helm.
When Fiat Chrysler presents its 2018-22 business plan June 1, the biggest question mark will be the future of the Fiat brand, which has been losing share steadily in its two main markets — Europe and Brazil — and is disappearing in the U.S.
FCA CEO Sergio Marchionne is preparing to unveil a sweeping transformation of production in Italy that will see the automaker stop building the Fiat Punto and Alfa Romeo MiTo small cars in favor of Maserati and Jeep models, Bloomberg reported.
Fiat Chrysler Automobiles CEO Sergio Marchionne said proposed changes to automotive rules by the U.S. government may prompt the Italian-American automaker to shift exports of the company's Mexican-made vehicles.
Ferrari Chairman Sergio Marchionne says the supercar brand will not launch a full-electric car until after its next business plan ends in 2022. Marchionne has said Ferrari's first hybrid will debut at the Frankfurt auto show in 2019.
Sergio Marchionne spent the last 14 years transforming Fiat Chrysler through a series of spinoffs and mergers from a near-bankrupt Italian conglomerate into a top-performing automaker. His pending exit may open the door for the next big deal.
Fiat Chrysler, which held informal talks with Geely about a potential takeover by the Chinese manufacturer, would be ready to discuss interest from any suitor only after completing a growth plan this year, CEO Sergio Marchionne said.
Fiat Chrysler CEO Sergio Marchionne called for a cooling-off over U.S. threats to impose tariffs on steel, aluminum and European car imports, warning the resulting "noise" was complicating talks on the future of NAFTA.