Tag: FCA

Goodyear (GT) to Slash Jobs in Germany to Modernize Plants

Goodyear’s (GT) plan to cut jobs in Germany is likely to enhance the competitiveness of its manufacturing footprint and assist it in the production of large-rim-diameter premium tires.More The Goodyear Tire & Rubber Company GT plans to cut 1,100 jobs in Germany. This move is sync with its strategy to modernize its plant in Germany.… Continue reading Goodyear (GT) to Slash Jobs in Germany to Modernize Plants

Fiat Chrysler gains after Peugeot president points to merger potential

Daniel Acker | Bloomberg | Getty Images
A row of Fiat Chrysler Automobiles (FCA) 2017 Crysler Pacifica minivan vehicles are displayed for sale at a car dealership in Moline, Illinois, on Saturday, July 1, 2017.

Fiat Chrysler shares jumped on Tuesday to the top of Europe's STOXX 600 after the president of Peugeot family holding company FFP told French daily Les Echos he would support a new deal and suggested Fiat Chrysler was among the options.

“With them, as with others, the planets could be aligned,” Robert Peugeot was reported as saying, asked about targets for acquisitions or mergers.

Fiat Chrysler declined to comment.

Shares in the Italian-American carmaker were up 5.2 percent by 6:50 a.m. EST, while Peugeot gained 2.7 percent, helping boost Europe's autos index which was up 2.5 percent.

Peugeot's remarks came on the heels of reports the group's CEO Carlos Tavares is open to deals and that Fiat, General Motors, and Jaguar Land Rover could be ideal partners.

FCA's new boss Mike Manley, who took over after deal-making guru Sergio Marchionne died last year, said this month the carmaker was open to pursuing alliances and merger opportunities if they make sense and strengthen its future.

FCA is often cited as a possible merger candidate because of its strong exposure to the North American market, where it generates the lion's share of profits, and because of its popular Jeep, RAM and Maserati brands.

“PSA is essentially an EU pure play as things stand (roughly 90 percent of consolidated unit sales in EU) so an acquisition of a company with a broader reach would make strategic sense,” said Evercore ISI analyst Arndt Ellinghorst.

Investors and analysts alike were wary of betting on an imminent deal, though, mindful of potential antitrust obstacles.

“Although we believe that some M&A could materialize in the automotive sector, we do not expect it in the short term,” said Mediobanca Securities analyst Andrea Balloni.

STOXX600

—

FFP

—

UG

—

GM

—

FCA

—

Fiat Chrysler revs up as Peugeot points to merger potential

LONDON (Reuters) – Fiat Chrysler shares jumped on Tuesday to the top of Europe’s STOXX 600 after the president of Peugeot family holding company FFP told French daily Les Echos he would support a new deal and suggested Fiat Chrysler was among the options. FILE PHOTO: Fiat Chrysler Automobiles logo is seen on a panel… Continue reading Fiat Chrysler revs up as Peugeot points to merger potential

Peugeot ready to support a PSA offensive

They agree with the applied historical epithet PSA’s latest financial results. Six years after the eventual rescue of the automaker then under water, members of the Peugeot bicentennial dynasty can only congratulate the return to grace of the group led by Carlos Tavares. “The Opel operation is an exceptional success, we did not think that… Continue reading Peugeot ready to support a PSA offensive

Motorsport: Mercedes team boss: Budget limit difficult to implement

Toto Wolff Toto Wolff is the team boss of Mercedes. Photo: Jan Woitas (Photo: AP) “The difficulty is the controllability of the expenses, because the teams are very differently positioned,” said the Austrian of the “Frankfurter Allgemeine Sonntagszeitung”. In the negotiations on a new basic contract from 2021 on, the budget limit for the racing… Continue reading Motorsport: Mercedes team boss: Budget limit difficult to implement

Automobile Nerds: Simply unmistakable

Ferdinand Filter has with his automobile have to take a lot. Because since the North German Fiat Multipla drives, there were always silly sayings of passers-by because of the bizarre design of the Italian van. That did not detract from his enthusiasm. On the contrary: Filter drives its “whale on wheels” with pride and love… Continue reading Automobile Nerds: Simply unmistakable

Lister reveals modern Kobbly concept and promises to build it – Motor Authority

There was a time, back in the 1950s, when the Lister name was just as synonymous with racing and sports car victories as Ferrari, Mercedes-Benz and other famous marques. It was thanks to the performance of Lister’s Knobbly race car, which was driven by some of the all-time greats, including Stirling Moss. Lister’s history has… Continue reading Lister reveals modern Kobbly concept and promises to build it – Motor Authority

Statement: Steering

Statement: Steering March 14, 2019 , Auburn Hills, Mich. – FCA US is recalling an estimated 47,771 vehicles to inspect and secure or replace, as needed, certain steering components. An FCA US investigation discovered certain minivans may have steering-system joints that could separate under rare circumstances – when a single bolt’s torque is below specification, and when… Continue reading Statement: Steering

Fiat Chrysler recalling 965,000 US, Canadian vehicles over excess emissions

WASHINGTON (Reuters) – Fiat Chrysler Automobiles NV will recall about 965,000 gasoline-powered vehicles in the United States and Canada that do not meet emissions standards and will replace their catalytic converters, officials said on Wednesday. A Fiat Chrysler Automobiles (FCA) sign is seen at its U.S. headquarters in Auburn Hills, Michigan, U.S. May 25, 2018.… Continue reading Fiat Chrysler recalling 965,000 US, Canadian vehicles over excess emissions