Posted Thursday, Apr 30, 2009, 3:28 pm in Employee News
Fiat SpA, an acronym for Fabbrica Italiana Automobili Torino (Italian Automobile Factory of Turin), is an Italian automobile manufacturer, engine manufacturer, financial and industrial group based in the Piedmont region of Turin.
Fiat was founded in 1899 by a group of investors including Giovanni Agnelli. The company is Italy’s largest industrial concern. Fiat has produced more than 90 million cars and light commercial vehicles over its 109-year history.
Automobiles
Fiat Group is the largest automobile manufacturer in Italy, with a range of cars starting from small A-segment Fiats to sports cars made by Ferrari. Its car companies include Fiat Group Automobiles SpA, Ferrari SpA, Iveco SpA and Maserati SpA. The Fiat Group Automobiles SpA companies consist of: Abarth & C. SpA, Alfa Romeo Automobiles SpA, Fiat Automobiles SpA, Fiat Professional and Lancia Automobiles SpA. Ferrari SpA is owned by the Fiat Group, but is run autonomously.
The European Car of the Year award, Europe’s premier automotive trophy for the past 40 years, has been awarded 12 times to the Fiat Group, more than any other manufacturer. Most recently the Fiat Nuova 500 (Cinquencento) has won the award for European Car of the Year 2008.
Agricultural and construction equipment
Fiat Group owns CNH Global (which includes Case Construction, Case IH, Flexi-Coil, Kobelco, New Holland, New Holland Construction, and Steyr); and Fiat-Hitachi Construction. CNH is the second largest agricultural equipment manufacturer in the world after Deere and Company. It is also the third largest producer of construction equipment after Caterpillar Inc. and Komatsu. CNH accounts for around 20 percent of revenues. CNH is the most prized company inside Fiat because it has driven growth and is very profitable. It also shows great promise for growth in third-world markets.
Components
The major Italian component maker Magneti Marelli is owned by Fiat and in turn owns the other brands Carello, Automotive Lighting, Siem, Cofap, Jaeger, Solex, Veglia Borletti, Vitaloni and Weber. Other accessory brands include Riv-Skf and Brazilian Cofap.
Production systems
Production systems are made mainly through Comau Systems, which bought the American Pico, Renault Automation and Sciaky firms and produces industrial automation systems. In the 1970s and 1980s, the company became a pioneer in the use of industrial robotics for the assembly of motor vehicles. Fiat assembly plants are said to be among the most automated and advanced.
Sergio Marchionne
Canadian-born Italian national Sergio Marchionne has impressed investors since taking over as CEO in June 2004. Losses have fallen steadily since 2002, and fourth quarter 2005 saw its first profit in 17 quarters. Marchionne has reduced Fiat’s managerial bureaucracy and changed its tone to a focus on markets and profit. The success of the Grande Punto model has in large part been responsible for the turnaround in Fiat’s fortunes, but the quite successful Bravo (successor to the Stilo) and the award-winning 500 have really cemented it. Fiat also has formed a joint venture with India’s Tata motors and China’s Chery motors. Under Marchionne the company has also re-entered several large markets that it had exited years before, such as Mexico and Australia. Marchionne recently confirmed plans to return Fiat to the United States market by 2010 with the new 500.
Manufacturing
Fiat has manufacturing operations in Italy (five plants), Poland (one plant), Brazil (two plants) and Argentina (one plant). Manufacturing also is performed through either joint ventures or licensing agreements in Italy (three), France (one), Turkey (one), India (one), Russia (one), Serbia (one) and Hungary (one).
Products and technology
Fiat vehicles have the lowest CO2 emissions of any major European brand (137.3 g/Km), and the Fiat 500 is the first car under 3.6m (A-segment) to achieve Euro NCAP 5-star rating.
Additional facts:
Fiat worldwide sales: 2.4 million
Chrysler worldwide sales: 2.0 million
Fiat North America market share: 0.1 percent
Chrysler North America share: 11.3 percent
Fiat South America market share: 19.1 percent
Chrysler South America market share: 0.7 percent
Fiat Europe market share: 7.6 percent
Chrysler Europe market share: 0.5 percent
Fiat distribution: 190 countries
Chrysler distribution: 125 countries
Fiat employees: 185,227 (12/31/07)
Chrysler employees: 54,007 (12/31/08)
__________________
Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
Posted Thursday, May 14, 2009, 1:42 pm in Employee News
The Italian automaker Fiat, which has reached a deal for a stake Chrysler LLC and is in talks to take on GM’s European operations, defied a contracting market for the second straight month, increasing its European sales in April by 5 percent, according to new figures released Thursday, according to The Detroit News.
Fiat Group Automobiles SpA sold 116,300 cars in Europe last month, up from 110,828 a year earlier, making it the only European automaker to increase sales in April, according to figures compiled by the European auto makers association ACEA, the News reported.
Industry-wide, new car sales in Europe fell for the 12th straight month, dropping 12.3 percent for a total of 1.25 million cars sold, the paper said. Fiat said in a statement that it achieved a market share of 10 percent in Western Europe in April for the first time in eight years. It was No. 4 four in terms of sales in the month, behind Volkswagen, PSA Group and Ford, the story said. (The Detroit News)
__________________
Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
FACTBOX: Fiat, Opel, Chrysler -- many brands under one roof
Wed May 20, 2009 9:37am EDT
Fiat SpA's plan to take over Opel, General Motors Corp's German unit, after sealing a deal for 20 percent of Chrysler in April, would gather together a wide range of brands.
Here are the main brands and their markets:
FIAT
The industrial group has 9.2 percent of the European market since January but negligible sales in the United States. Its brands include Fiat, Lancia, Alfa Romeo, Maserati and Ferrari. It also owns Iveco trucks and CNH farming and construction vehicles.
The Fiat brand's main models are the Panda, Cinquecento, Grande Punto and Bravo. The cheapest is the Panda, which starts at 8,830 euros ($11,730), while the most expensive is the Bravo, which can cost 24,300 euros in Italy.
Lancia's models are the Ypsilon, Delta, Musa, Phedra and Thesis. The cheapest is the Ypsilon, with a base price of 11,300 euros and the Thesis the most expensive, costing up to 55,250 euros.
Alfa Romeo, a premium sports brand, has the MiTo, 147, 159, Brera, Spider and GT. The cheapest model is the MiTo at 14,800 euros and the most expensive is the Brera at 42,700 euros in Italy.
GM EUROPE
The U.S. car giant's brands in Europe are Chevrolet, Opel, Saab and Vauxhall. It has had 9.1 percent of the European market since January.
Chevrolet, its entry-level brand, has models such as the Matiz, Aveo, Lacetti, Nubira SW, Cruze, Epica and Captiva.
Opel has the likes of Agila, Corsa, Tigra, Astra, Zafira, Insignia and Antara. In Britain, prices range from 8,295 pounds ($12,320) for a basic Agila to 31,970 pounds ($47,500) for a top-of-the-range Insignia.
Saab has the 9-3, 9-5 and the Turbo X.
Vauxhall, which sells in Britain, has the Vectra and Signum models in addition to the Opel ones.
CHRYSLER
The bankrupt U.S. car maker has had just 0.4 percent of the European market since January. Its main brands are Chrysler, Dodge and Jeep.
Chrysler has the 300, Aspen, Crossfire, Pacifica, PT Cruiser, Sebring and Town & Country. The cheapest is the PT Cruiser, which starts at $18,720, and the most expensive is the Aspen Hybrid at $46,120.
Dodge includes Avenger, Challenger, Charger, Durango, Ram, Viper, and Caliber. Prices range from the Caliber at $17,090 to the Viper at $91,220.
Jeep, the 4X4, has in its line-up the Commander, Compass, Grand Cherokee, Liberty, Patriot and Wrangler. The Patriot is the cheapest at $18,170 and the Grand Cherokee the most expensive, starting at $31,230.
CHRYSLER GROUP LLC AND FIAT FINALIZE GLOBAL STRATEGIC ALLIANCE;
NEW CHRYSLER EMERGES AS A STRONGER, MORE COMPETITIVE GLOBAL COMPANY
Robert Kidder to be named Chairman of U.S. Automaker;
Sergio Marchionne to Serve as Chief Executive Officer
Auburn Hills, MI and Turin, ITALY – June 10, 2009 – Chrysler Group LLC and Fiat Group announced today that they have finalized their previously announced global strategic alliance, forming a “new" Chrysler that has the resources, technology and worldwide distribution network required to compete effectively on a global scale. The new Chrysler will begin operations immediately.
As part of the alliance, Fiat will contribute to Chrysler its world-class technology, platforms and powertrains for small- and medium-sized cars, allowing the company to offer an expanded product line including environmentally friendly vehicles increasingly in demand by consumers. Chrysler will also benefit from Fiat’s management expertise in business turnaround and access to Fiat’s international distribution network with particular focus on Latin America and Russia.
“This is a very significant day, not only for Chrysler and its dedicated employees, who have persevered through a great deal of uncertainty during the past year, but for the global automotive industry as a whole,” said Sergio Marchionne, who today was named Chief Executive Officer of Chrysler Group LLC. “From the very beginning, we have been adamant that this alliance must be a constructive and important step towards solving the problems impacting our industry. We, now look forward to establishing a new paradigm for how automotive companies can operate profitably going forward.
Mr. Marchionne continued: "We intend to build on Chrysler’s culture of innovation and Fiat’s complementary technology and expertise to expand Chrysler's product portfolio both in North America and overseas. Those Chrysler operations assumed by the new company that were idled during this process have or will soon be back up and running, and work is already underway on developing new environmentally friendly, fuel-efficient, high-quality vehicles that we intend to become Chrysler's hallmark going forward.
“The same attributes that first attracted us to this alliance – a global automotive company with first-class technology, a devoted workforce, improved efficiency, a strong, global distribution network and an unyielding passion for building great cars that consumers want – are even more true today. While it does not solve every issue faced by the automotive industry today, this alliance, established with the full support of President Obama's Administration, is a very significant step toward positioning Fiat and Chrysler to be leaders among the next breed of global automakers. This has, I know, been a difficult process for everyone involved, but we are ready to prove to the American consumer that Chrysler can once again be a strong, competitive company that produces a full portfolio of reliable vehicles that capture the imagination and inspire loyalty,” Mr. Marchionne said.
Under the terms approved by the U.S. Bankruptcy Court in New York and various regulatory and antitrust regulators, the company formerly known as Chrysler LLC today formally sold substantially all of its assets, without certain debts and liabilities, to a new company that will operate as Chrysler Group LLC.
Chrysler Group in turn issued to a subsidiary of Fiat a 20% equity interest on a fully diluted basis in the new company. Fiat has also entered into a series of agreements necessary to transfer certain technology, platforms and powertrains to the new Chrysler. Fiat’s equity interest will increase in increments by up to a total of 35% in the event that certain milestones mandated by the agreement are achieved, but Fiat cannot obtain a majority stake in Chrysler until all taxpayer funds are repaid.
Similarly, the United Auto Workers’ Retiree Medical Benefits Trust, a voluntary employees’ beneficiary association trust (VEBA) has been issued an equity interest in Chrysler Group equal to 55% on a fully diluted basis. The U.S. Treasury and the Canadian Government have been issued an equity interest equal to 8% and 2% on a fully diluted basis, respectively. These interests reflect the anticipated share dilution as a result of Fiat’s incremental equity assumption once the milestones outlined in the strategic alliance agreement are achieved.
In addition to Mr. Marchionne, currently the Chief Executive Officer of Fiat S.p.A. serving as CEO, the new Chrysler will be managed by a nine-member Board of Directors, consisting of 3 directors to be appointed by Fiat, 4 directors to be appointed by the U.S. Government, 1 director to be appointed by the Canadian Government and 1 director to be appointed by the United Auto Workers’ Retiree Medical Benefits Trust. The Board is expected to name Robert Kidder as Chairman. The process of determining additional board members is continuing and updates will be announced as appropriate.
As previously announced, Chrysler has entered into an agreement with GMAC Financial Services to provide automotive financing products and services to the Company’s North American (NAFTA) dealers and customers. GMAC Financial Services will be the preferred lender in North America for Chrysler, Jeep® and Dodge dealer and consumer business, including wholesale of new and used vehicles as well as retail.
__________________
Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
24.07.2009
EU gives green light for Fiat's Chrysler takeover
The Fiat and Chrysler logos superimposed on the Italian and US flags
The European Union has approved a bid by Italian carmaker Fiat to take over US manufacturer Chrysler, saying the deal would not harm competition in Europe.
The European Union has approved Italian carmaker Fiat's bid to take over Chrysler, the third largest US automaker and owner of the Jeep and Dodge brands. The two companies reached a deal last month to create a global auto giant.
EU regulators say the move will not damage competition in Europe because Fiat will not be able to exercise sole control over Chrysler.
Regulators say the two companies have only limited market overlap as Chrysler does not make cars in Europe – Fiat's main market – and also sells very few vehicles here.
"After examining the operation, the European Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area or any substantial part of it," the EU said in a statement.
Fiat will initially hold 20 percent of Chrysler Group, with its stake later increasing to 35 percent and eventually to a majority stake.
The move forms part of a restructuring program at Chrysler, which has run up massive debts as a result of slumps in sales due to rising oil prices and the current economic crisis.
The deal has the support of the US government, which has agreed to provide new loans to Chrysler contingent on the deal with Fiat.
Earlier today, the Board of Directors of Fiat S.P.A. approved a demerger of its two automotive businesses. Fiat’s heavy truck and equipment companies, including Iveco and CNH (Case New Holland) will be spun off into a new entity, Fiat Industrial S.p.A. Fiat S.p.A. will retain Fiat Group Automobiles (Fiat, Fiat Professional, Abarth, Alfa Romeo and Lancia), Maserati, Ferrari, Magneti Marelli, Teksid, Comau and FPT (Fiat Powertrain
Technologies). Contrary to reports published elsewhere, the Fiat announcement did not say the company planned to incorporate Chrysler Group LLC into Fiat S.p.A. Fiat officially refers to its relationship with Chrysler as an alliance as it has operating control of the American automaker but does not have majority ownership.
Subject to regulatory approvals, the demerger is scheduled for January 1, 2011. Both companies will operate independently with their own management and board of directors and will be listed separately on the Milan stock exchange and current Fiat shareholders will receive a share in Fiat Industrial for every Fiat share they own at the time.
__________________
Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
Your eyes doth not deceive you: Fiat has a new CEO. But before we get ahead of ourselves, Sergio Marchionne isn't going anywhere. The Italian-Canadian executive mastermind directing both the Fiat and Chrysler groups is not relinquishing his position. But a number of years ago, he did hand over control of the Fiat brand to a subordinate. That position has changed hands a couple of times since then, and has now been handed over to a new talent.
After years of experience in the industry, having worked for Ford and Toyota, Andrea Formica has been named CEO of the Fiat brand. And in typical Fiat style, he'll also have to juggle another portfolio in the group, directing sales for Fiat, Alfa Romeo and Lancia, as well as Chrysler's operations in Europe.
Vacating the position is Lorenzo Sistino, who moves over to head Fiat's International Operations while also running Fiat Professional, the company's commercial vehicles division. Full announcement in the press release after the jump.
The AutoGuide.com network consists of the largest network of enthusiast-owned enthusiast-operated automotive communities.
AutoGuide.com provides the latest car reviews, auto show coverage, new car prices, and automotive news. The AutoGuide network operates more than 100 automotive forums where our users consult peers for shopping information and advice, and share opinions as a community.
Linear Mode
