Dodge Nitro Forum banner

1 - 2 of 2 Posts

Super Moderator
23,465 Posts
Discussion Starter #1
FCA US Announces 2017 Profit Sharing Payment for U.S. Hourly Employees

Payment recognizes hourly employees’ key role in meeting Company objectives
Profit sharing paid in addition to $2,000 special bonus payment for U.S. workforce related to tax reform
Industrialization plan underway to expand Jeep® and Ram brands
Total U.S. investment grows to more than $10 billion since 2009, with over 25,000 jobs created to date

January 25, 2018 , Auburn Hills, Mich. -

As a result of the Company’s strong 2017 financial performance, FCA US LLC announced today that it will make average profit sharing payments of $5,500 to eligible UAW-represented employees. Approximately 40,000 employees will receive the payment on Feb. 16, 2018.

With this payment, FCA US hourly employees have received on average more than $23,000 in profit sharing since 2009.

As negotiated in the 2015 FCA US LLC-UAW Collective Bargaining Agreement, the 2017 profit sharing payment is based on the adjusted EBIT margin performance of the North American region reported in the FCA N.V. financial results and on individual compensated hours.

FCA Commits to Growing U.S. Manufacturing Operations

Since 2009, FCA has invested $10 billion and added more than 25,000 new jobs in its U.S. manufacturing operations. In 2017, FCA US launched the Jeep Cherokee and the Jeep Wrangler in their new production locations, completing the first two actions of an industrialization plan designed to realign U.S. manufacturing capacity to expand the Jeep® and Ram brands.

Production of the Jeep Cherokee moved from the north plant of the Toledo Assembly Complex (Ohio), to the Belvidere, Illinois, Assembly Plant in June, following a $350 million transformation. More than 300 new jobs were added to support Cherokee production, which began in June.

With the Cherokee’s move, the Toledo North plant embarked on a $700 million overhaul to produce the next generation Jeep Wrangler. Production began in December with the addition of more than 700 new jobs.

The all-new Ram 1500 will begin production at the Sterling Heights Assembly Plant in the first quarter of 2018 after moving from the nearby Warren Truck Assembly Plant. Nearly $1.5 billion was invested to convert the suburban Detroit facility from unibody to body-on-frame production. The plant will add 700 new jobs.

The Company has also committed to spending a total of $2 billion and adding 4,500 new jobs in the Warren Truck Assembly Plant and the south plant of the Toledo Assembly Complex. Warren Truck will be modernized to produce the Jeep Wagoneer and Grand Wagoneer alongside the Ram Heavy Duty, which will move from its current production location in Saltillo, Mexico. The Toledo South plant will be retooled to build the all-new Jeep truck. All of these actions are expected to be complete by 2020.

Special Bonus Payment for FCA U.S. Employees

In addition to profit sharing, UAW-represented employees will receive a special $2,000 bonus payment in the second quarter. Announced on January 11, 2018, FCA will make the special bonus payment to approximately 60,000 hourly and salaried employees, excluding senior leadership, of FCA automotive and component operations in the U.S. because of U.S. tax reform legislation.

FCA US LLC is a North American automaker based in Auburn Hills, Michigan. It designs, manufactures, and sells or distributes vehicles under the Chrysler, Dodge, Jeep®, Ram, FIAT and Alfa Romeo brands, as well as the SRT performance designation. The Company also distributes Mopar and Alfa Romeo parts and accessories. FCA US is building upon the historic foundations of Chrysler Corp., established in 1925 by industry visionary Walter P. Chrysler and Fabbrica Italiana Automobili Torino (F.I.A.T.), founded in Italy in 1899 by pioneering entrepreneurs, including Giovanni Agnelli. FCA US is a member of the Fiat Chrysler Automobiles N.V. (FCA) family of companies. (NYSE: FCAU/ MTA: FCA).

FCA, the seventh-largest automaker in the world based on total annual vehicle sales, is an international automotive group. FCA is listed on the New York Stock Exchange under the symbol “FCAU” and on the Mercato Telematico Azionario under the symbol “FCA.”

Super Moderator
23,465 Posts
Discussion Starter #2
Fiat Chrysler profit soars; raises worker bonuses

Fiat Chrysler Automobiles reported net profit for last year hit 3.5 billion euros compared with 1.8 billion a year earlier.


MILAN—Automaker Fiat Chrysler saw net profit nearly double last year as a more profitable model mix helped overcome a sales decline in North America.

Fiat Chrysler Automobiles reported net profit for last year hit 3.5 billion euros ($4.3 billion (U.S.)), compared with 1.8 billion a year earlier, as the company cut its industrial debt nearly in half to 2.4 billion euros.

Due to the results, Fiat Chrysler announced Thursday it would increase profit-sharing to 40,000 union workers on an hourly wage in the United States to $5,500 each. That will be in addition to a $2,000 bonus already announced for 60,000 hourly and salaried workers due to savings from the Trump administration's tax plan.

The carmaker delivered 4.7 million vehicles globally, in line with the previous year. U.S. sales fell 8 per cent to 2.1 million vehicles due to a decline in fleet sales to the lowest level since 2001. The company has been making efforts to reduce fleet sales in favour of high-profit generators, and declines were partially offset by sales of Ram trucks, the premium Alfa Romeo brand and Jeep brand SUVs.

Net revenues for the year were nearly 111 billion euros, shy of the revenue target of 115 million euros to 120 million euros. Adjusted net profit of 3.7 billion euros exceeded guidance of above 3 billion euros.

Fiat issued full-year 2018 guidance of net revenues above 125 billion euros and adjusted net profit around 5 billion euros. Fiat Chrysler CEO Sergio Marchionne said the carmaker aimed to report zero debt when it reports second-quarter earnings.

Marchionne, who is planning to step down as CEO next year, said he would lay out the company's new five-year business plan on June 1.

1 - 2 of 2 Posts