CLOSE General Motors is suggesting that former UAW Vice President and ex-GM board member Joe Ashton was acting as a paid mole inside the company’s boardroom during 2015 contract bargaining as it seeks to revive its racketeering lawsuit against Fiat Chrysler Automobiles. Adding potentially more intrigue in the long-running UAW corruption scandal, GM also claims in a court filing Monday… Continue reading GM: Millions of dollars in offshore bank accounts fueled Fiat Chrysler scheme
Tag: FCA
As Sales Rise, Automakers Ramp Up Production
Just two months ago, the auto industry was bracing for disaster. As the coronavirus spread, automakers shut down plants, and car sales plunged. But the industry is starting to breathe a little easier. Factories are churning out trucks and sport utility vehicles, with many of the plants nearly back to production levels that prevailed before… Continue reading As Sales Rise, Automakers Ramp Up Production
Ferrari expects at least 1 billion euros profit in 2020
Daniele Lepido, Bloomberg Published 9:53 a.m. ET Aug. 3, 2020 | Updated 10:02 a.m. ET Aug. 3, 2020 Ferrari NV narrowed the range of its full-year profit guidance toward the lower end after the supercar-maker was forced to shutter factories for seven weeks because of the coronavirus pandemic. Ferrari, controlled by the Agnelli family’s investment… Continue reading Ferrari expects at least 1 billion euros profit in 2020
Q2 2020 AFFECTED BY COVID-19, BUT IN LINE WITH EXPECTATIONS, FULL YEAR GUIDANCE NARROWED WITHIN THE PREVIOUS RANGE
Q2 2020 AFFECTED BY COVID-19, BUT IN LINE WITH EXPECTATIONS,FULL YEAR GUIDANCE NARROWED WITHIN THE PREVIOUS RANGEFerrari N.V. (NYSE/MTA: RACE) today announces its consolidated preliminary results for the second quarter and six months ended June 30, 2020, summarized as follows:Total shipments of 1,389 units, halved versus prior year, as a result of both production and… Continue reading Q2 2020 AFFECTED BY COVID-19, BUT IN LINE WITH EXPECTATIONS, FULL YEAR GUIDANCE NARROWED WITHIN THE PREVIOUS RANGE
@FCA: En Julio FCA México reportó ventas de 3,520 unidades
1 de agosto de 2020 , Ciudad de México – RAM fue la marca con mayor número en ventas en julio. FCA México reportó ventas de 3,520 unidades. “Nuestro enfoque siempre ha estado orientado en la satisfacción y seguridad del cliente a través de vehículos innovadores, que en diversas ocasiones superan los estándares de seguridad volviéndose referentes… Continue reading @FCA: En Julio FCA México reportó ventas de 3,520 unidades
@Ferrari: Q2 2020 affected by Covid-19, but in line with expectations, full year guidance narrowed within the previous range
Total shipments of 1,389 units, halved versus prior year, as a result of both production and delivery suspensions Net revenues of Euro 571 million, decreased by 42.0% Adj. EBITDA(1) of Euro 124 million, with an Adj. EBITDA margin of 21.9% Adj. EBIT(1) of Euro 23 million, with an Adj. EBIT margin of 4.0% Negative industrial… Continue reading @Ferrari: Q2 2020 affected by Covid-19, but in line with expectations, full year guidance narrowed within the previous range
Fiat Chrysler posts lower-than-expected operating loss in second quarter – ETAuto.com
Fiat Chrysler (FCA) said its adjusted earnings before interest and tax (EBIT) were negative for 928 million euros ($1.10 billion) in the April-June period, versus forecast for a 1.87 billion euro loss. MILAN: Italian American automaker Fiat Chrysler posted a smaller-than-expected operating loss in the second quarter, as it managed to contain negative effects of… Continue reading Fiat Chrysler posts lower-than-expected operating loss in second quarter – ETAuto.com
Carmakers borrow industry-leading $132 billion to weather Covid-19
Loans for virus relief eased during July as firms repay loans. (Image: Bloomberg) New York: The automotive industry has borrowed $132 billion since March as the spread of the coronavirus curbed demand for cars and closed factories. The sector is the largest user of funds put in place to ease the impact of the pandemic.… Continue reading Carmakers borrow industry-leading $132 billion to weather Covid-19
Fiat Chrysler lost $1.24B in 2nd quarter of 2020
CLOSE Things can always be worse. That’s one way to look at the earnings reports for Fiat Chrysler Automobiles and other automakers in the midst of a global downturn brought on by the coronavirus pandemic. The question on Friday was how bad things would get for FCA, the last of the Detroit Three to announce… Continue reading Fiat Chrysler lost $1.24B in 2nd quarter of 2020
Fiat Chrysler salaried workers back at full pay
CLOSE Fiat Chrysler Automobiles has restored full pay for its salaried workforce. Unlike General Motors, which announced its own restoration of full pay for salaried workers, the move was not earlier than expected, according to FCA, but was in the planned time frame for addressing the financial impact of the coronavirus. Ford had announced a similar plan beginning in May… Continue reading Fiat Chrysler salaried workers back at full pay