A Fiat based on a little electric Peugeot makes for an interesting proposition With its electric vehicle push only just beginning to take shape, Fiat Chrysler Automobiles could be looking to other automakers to help it catch up as tougher emissions regulations start to take hold. FCA CEO Mike Manley said Friday in an investors… Continue reading Fiat Chrysler CEO Eyes Peugeot’s Electric Car Platform
Tag: FCA
Hands on with Polestar’s Android Automotive OS infotainment system
By Scott Oldham Walking into Dogpatch Studios on San Francisco’s east side, the Polestar 2 sits in the center of the stark industrial space, its 20-inch Continentals resting on the bare concrete floor. The all-electric hatchback sedan, which Polestar says will offer 275 miles of range, is dressed like a Stormtrooper; Snow White paint, matte… Continue reading Hands on with Polestar’s Android Automotive OS infotainment system
Fiat Chrysler shares jump after mixed first-quarter earnings
Fiat Chrysler Automobiles assembly workers build 2019 Ram pickup trucks at the FCA Sterling Heights Assembly Plant in Sterling Heights, Michigan, October 22, 2018.Rebecca Cook | ReutersShares of Fiat Chrysler seesawed Friday after the company reported disappointing first-quarter earnings but said it's still on track to meet its 2019 profit target.
U.S. shares of the Italian and American company dropped as much as 2.8% before surging 6% in intraday trading.
The automaker said slowing sales in North America and Europe drove profit south. However, it said, sales of new U.S. pickup trucks, including the Jeep Gladiator and Ram models, would help lift its 2019 profit target of more than 6.7 billion euros ($7.5 billion).
Sales of its popular line of Ram trucks jumped 22% year over year as overall U.S. sales fell 3.1% during the first three months of the year.
Fiat Chrysler also reported that its first-quarter net profit fell 47% from the same time period a year prior, dropping to 508 million euros ($568 million) from 951 million euros ($1.06 billion) during the same quarter last year.
In addition, earnings per share failed to meet Wall Street's expectations, coming in at 40 cents (0.36 euros) compared with analysts' estimates of 52 cents (0.47 euros).
Fiat Chrysler's stock has climbed 10.17% so far this year. In the past 12 months, the stock has declined 29.17%.
UPDATE 3-U.S. rejects Tesla bid for tariff exemption for Model 3 ‘brain’
WASHINGTON (Reuters) – U.S. trade officials rejected Tesla Inc’s bid for relief from President Donald Trump’s 25 percent tariffs on the Chinese-made computer “brain” of its Model 3 electric vehicles, one of more than 1,000 product denials linked to China’s industrial development plans. FILE PHOTO: A 2018 Tesla Model 3 electric vehicle is shown in… Continue reading UPDATE 3-U.S. rejects Tesla bid for tariff exemption for Model 3 ‘brain’
U.S. rejects Tesla bid for tariff exemption for Model 3 ‘brain’
WASHINGTON (Reuters) – U.S. trade officials rejected Tesla Inc’s bid for relief from President Donald Trump’s 25 percent tariffs on the Chinese-made computer “brain” of its Model 3 electric vehicles, one of more than 1,000 product denials linked to China’s industrial development plans. FILE PHOTO: A 2018 Tesla Model 3 electric vehicle is shown in… Continue reading U.S. rejects Tesla bid for tariff exemption for Model 3 ‘brain’
FCA US Announces Final Approval of Settlements
May 3, 2019 , Auburn Hills, Mich. – FCA US LLC has received final approval of a class-action settlement that ends a dispute about performance of certain vehicles equipped with 3.0-liter EcoDiesel V-6 engines. The Court also approved consent decrees between FCA US, the U.S. Environmental Protection Agency (EPA), and the California Air Resources Board (CARB)… Continue reading FCA US Announces Final Approval of Settlements
Fiat Chrysler shares soar after CEO hints at tie-ups
Sales by the company which makes Fiat, Chrysler, Jeep, Maserati, Alfa Romeo, Dodge and Ram vehicles, slid 4.8 percent to 24.5 billion euros. Milan: Fiat Chrysler (FCA) reported falling profits on Friday, but its share price soared after its CEO indicated that the Italian-US group would have an “active and constructive role” in consolidating the… Continue reading Fiat Chrysler shares soar after CEO hints at tie-ups
Fiat Chrysler pins hopes on new models after weak first quarter
MILAN/DETROIT (Reuters) – Fiat Chrysler (FCA) expects new models such as the Jeep Gladiator and all-new RAM heavy duty truck to help it meet full-year targets and make up for weaker sales and profits in the first quarter, the automaker said on Friday. FILE PHOTO: Fiat Chrysler Automobiles (FCA) headquarters are seen in Turin, Italy,… Continue reading Fiat Chrysler pins hopes on new models after weak first quarter
Fiat Chrysler confirms full-year targets even as weaker sales hit first-quarter profits
FILE PHOTO: Fiat Chrysler Automobiles (FCA) headquarters are seen in Turin, Italy, July 21, 2018. REUTERS/Massimo Pinca MILAN (Reuters) – Fiat Chrysler (FCA) on Friday confirmed its targets for this year despite reporting a 29 percent fall in first-quarter operating profit as sales and margins weakened in its North American profit center. Chief Executive Mike… Continue reading Fiat Chrysler confirms full-year targets even as weaker sales hit first-quarter profits
UPDATE 1-Fiat Chrysler confirms full-year targets even as weaker sales hit Q1 profits
FILE PHOTO: Fiat Chrysler Automobiles (FCA) headquarters are seen in Turin, Italy, July 21, 2018. REUTERS/Massimo Pinca MILAN (Reuters) – Fiat Chrysler (FCA) on Friday confirmed its targets for this year despite reporting a 29 percent fall in first-quarter operating profit as sales and margins weakened in its North American profit center. Chief Executive Mike… Continue reading UPDATE 1-Fiat Chrysler confirms full-year targets even as weaker sales hit Q1 profits