The PSA-FCA Merger Could Bring Some Cool Cars to the United States
FCA and PSA are merging; this much we know is true. With this in mind, and the reminder that Peugeot has been itching to get back into the U.S. market, we’ve realized that this new merger with FCA could streamline and speed up that process in a big way. Furthermore, it opens the door for brands like Citroen, Vauxhall, and DS to ease into the U.S. market without taking too large of a risk. So, if this all plays out in the most favorable way possible, what cool cars could end up on U.S. roads in the near future? Let’s dig into it and look at the possibilities.
Fiat-Chrysler is Ready to Pay Tesla up to $2.3 Billion for Emissions Credits so it can Meet European Car Emission’s Standards for 2020
Carmakers across Europe are striving to meet a 2020 EU target of average car CO2 emissions of 95g per kilometer. To avoid the fines, the EU allows automakers to pool their fleets together and purchase credits from other automakers with a surplus. Last month, Financial Times revealed a deal between Tesla and Fiat-Chrysler (FCA) worth “hundreds of millions of euros”. According to the Financial Times, the understanding is now worth around €2 billion ($2.3 billion USD). The deal with FCA is expected to be an extremely great boost of money for Tesla but FCA should keep in mind that the sale of emission credits will not last forever. The new regulations while helping Tesla financially are pushing other carmakers to release their own all-electric vehicles as nobody in the industry is ready to keep dispensing billions to their own competitors.
2019 Fiat Centoventi Concept
For its 120th birthday, Fiat went to the 2019 Geneva Motor Show to present a concept car, except it’s really not a concept car. It’s called the Centoventi Concept, which literally translates to “one hundred and twenty” in our language. It’s not the most creative concept name in the world, but it’ll do, especially when you begin to understand what it’s really all about. Fiat’s press release calls the Centoventi Concept a vehicle that “perfectly expresses the Italian brand’s idea of electric mass mobility in the near future.” What that phrase doesn’t tell you is that the Centoventi Concept is a lot more than just a representation of Fiat’s vision for its future electric. The concept is also a blank canvas that invites user customization. It’s a design-your-own ride that lets you personalize the car’s design from the ground up. Future urban mobility? Sure, the concept is that, too. But it’s really a modular platform for creativity. The Centoventi Concept doesn’t really have a “look,” in large part because that “look” will depend on how you design it.
$7.2 Billion - That’s the Check FCA Gets to Cash for Offloading Magneti Marelli
This was in the to-do list for Fiat Chrysler Automobiles ever since the company’s new CEO, Mike Manley, filled the shoes of the late Sergio Marchionne. Now, the company has sold its component unit, Magneti Marelli, to Calsonic Kansei Corporation for €6.2 billion, which is approximately $7.2 Billion at current exchange rates.
Sergio Marchionne’s Greatest Hits
The sudden and unexpected death of Sergio Marchionne shook the auto industry to its core. In a business that prominently features larger-than-life personalities, Marchionne was a giant among men, a visionary whose bold creativity and unrelenting determination helped turn the fortunes of Chrysler from the brink of bankruptcy into one of the world’s most respected auto brands. It’s a devastating loss, but it also gives us a moment to reflect on the career of a man who was never afraid to buck trends and take chances. There’s no shortage of greatest hits in the Sergio Marchionne collection, and it is with utmost respect that we take a look back at some of the most memorable moments in the life of a truly memorable man.
Sergio Marchionne, Savior of Chrysler, Has Passed Away at 66
Sergio Marchionne, the man who saved Chrysler from going belly up during the 2009 recession, has passed away at the age of 66. He was recently admitted to the hospital for routine should surgery but took a turn for the worst shortly thereafter. Reports came in early in the week that he had been placed on life support without expectation of recovering. He passed away shortly thereafter, leaving behind two sons and a legacy of hard work and dedication that can never be forgotten.
“Unfortunately, what we feared has come to pass. Sergio Marchionne, man, and friend is gone," John Elkann, chairman of FCA, said in a statement.
Those are grim words, no doubt. Earlier in the week, FCA, Ferrari, and CNH Industrial took steps to replace him and announce that he would be unable to work. Now that he’s gone, it’s important to remember him for what he was – a dedicated worker. Reports show that he worked nearly non-stop. He took over Chrysler with no cash down during the Great Recession of 2009 and managed to turn it around, saving 300,000 jobs in the process. He even initiated the first-ever no-strike pledge with the UAW and brought FCA brands up to par with benefits and pay familiar to only familiar to those working at Toyota and Honda. He made seemingly constant trips between Italy and Detroit.
Ken Lewenza, President of Canadian Auto Workers, met with Marchionne in 2009 and had something very interesting to say:
“He looked like he just got off a 20-hour shift, and he probably had,”
He never seemed to stop, and he requested the same from his executives, and it drove some of them away, but those who stayed grew into positions they didn’t think were possible. And, that’s exactly what it took to keep a brand like FCA afloat in one of the darkest times in U.S. automotive history. With Marchionne laid to eternal rest, it’s up to Mike Manley, the former head of the Jeep Division to keep the company alive and moving at warp speed. Manley took over just this week once it was discovered that Marchionne had taken a turn for the worst. As CEO of Ferrari, he was replaced by John Elkann, former Fiat Chrysler chairman.
At this point, there’s nothing else to say and nothing to speculate. A good, hard-working man has passed away, and our hearts go out to his family and all those that worked so closely with him. May he rest in peace.
Sergio Marchionne Out as FCA and Ferrari CEO After Complications With Surgery
In a dramatic and unexpected turn of events, Fiat Chrysler Automobiles’ expected change in leadership has been accelerated after CEO Sergio Marchionne experienced complications after surgery. The FCA board held an emergency meeting to address the issue. Ultimately, the board decided to start the CEO transition process way ahead of schedule — Marchionne was supposed to step down in 2019 — by naming Jeep boss Mike Manley as the acting CEO.
A Reported Takeover Of Fiat Chrysler Automobiles is Now Coming from South Korea
Hyundai has been identified as the latest company to engage Fiat Chrysler Automobiles over a possible takeover bid that would bring the American automaker to the Korean auto giant’s side. According to the report, the bid is expected to take shape sometime this summer as FCA starts planning for the eventual exit of current FCA chief executive officer, Sergio Marchionne.
Report: FCA to Kill Off Diesels Over the Next 5 Years
In a recent report from Financial Times who spoke with informants close to the situation, Fiat Chrysler Automobiles is allegedly looking to phase out diesel engines by 2022. This comes as a response to decreasing consumer demand for diesels following the continuous scrutiny of diesel emissions and the numerous scandals surrounding Volkswagen and other automakers. Even FCA has had run-ins with government organizations over the issue.
FCA’s official plan will reportedly be announced June 1, 2018, in FCA’s next five-year master plan. Globally, FCA uses diesel engines in most of its Fiat and Alfa Romeo models. However, diesel sales in Europe fell eight percent in 2017, moving diesel’s market share to 43.8 percent, according to a study by Jato Dynamics. Despite this slump, FCA’s diesel sales actually grew slightly.
While this spells bad news for diesel fans in Europe, fans in North America will likely dodge the bullet. FCA’s only diesel offered stateside is the 3.0-liter EcoDiesel V-6, and the 6.7-liter inline-six turbodiesel is sources from Cummins. The EcoDiesel is found in the Ram 1500, ProMaster van, Jeep Grand Cherokee, and is soon expected in the Jeep Wrangler JL. The 6.7-liter Cummins is only used in Ram’s Heavy Duty lineup.
The EcoDiesel recently rearmed the EPA’s approval after a stop-sale order for nearly a year. The EPA reports it found an emissions cheating device similar to those found in Volkswagen TDI engines. FCA is still facing a $4.6 billion fine for the issue and is currently recalling more than 104,000 vehicles for a reprogram of their engine control modules.
The mighty Cummins turbodiesel is exempt from most of the EPA’s emissions regulations since it’s only available in vehicles above a specified weight limit.
So, as FCA begins slowly phasing out diesels in Europe and other markets around the globe, customers in Canada and the U.S. can expect to keep their turbodiesel options. Nevertheless, we’ll have to see what FCA’s upcoming master plan has in store come June 1. Stay tuned to TopSpeed.com for developing information.
Fiat Chrysler’s Head of Design, Ralph Gilles, Pushes Burning Car Away From A Car With Two Trapped Occupants
Fiat Chrysler Head of Design Ralph Gilles is being hailed as a hero after saving two people from potentially getting burned after a three-vehicle crash in the suburban Detroit area. According to the Oakland County Sheriff’s Office, a 2013 Ford Fiesta collided head-on with a 2013 Ford Edge in the early hours of Sunday morning. While the two vehicles were idle in the roadway, a 1997 Buick LeSabre broadsided the Fiesta, pushing it into the Edge where the latter ended up catching fire. The driver of the Edge was able to exit his car, but the two people who were inside the Fiesta found themselves trapped inside their car with the Edge blocking their exit. That’s when Gilles came into the picture, saving the couple from a potentially fatal situation.
FCA’s New "Reloaded by Creators" Service is Your Chance To Own a Classic Fiat or Alfa Romeo
Jaguar’s decision to complete the D-Type’s original production run isn’t the only significant thing to come out of the Retromobile show in Paris. Turns out, Fiat Chrysler Automobile also announced a similar initiative called “Reloaded by Creators.” The new sales service was created in part because FCA is now opening its books to sell a limited number of carefully selected classic cars, purchased by the service, and restored to their original condition. The proceeds generated by the sale of these classics will go to new “scouting activities” that will strengthen FCA’s own historic collection.
FCA Facing Big Fines Over Diesel Emissions Cheating
A new stage has been reached with Fiat Chrysler Automobiles’ legal troubles over alleged cheating diesels. The U.S. Department of Justice has offered to settle its lawsuit against the automaker if FCA recalls 104,000 Jeep and Ram vehicles equipped with the 3.0-liter EcoDiesel V-6 for a software upgrade and to pay a “very substantial” fine that, according to the DOJ, “adequately reflects the seriousness of the conduct that led to the violations.”
While the fine amount has not been disclosed, it will likely be far less than Volkswagen’s massive $30 billion fine over its emission test-dodging diesels fitted in 580,000 vehicles in the U.S. Globally, Volkswagen’s turbodiesel issue affected some 11 million vehicles. Estimates made last year by Barclays Plc, Mediobanca SpA and Evercore ISI say FCA could be liable for between $460 million and more than $1 billion.
Unlike Volkswagen, FCA has denied any wrongdoing or conscious effort to cheat on emissions testing with its EcoDiesel V-6. The EPA is also not requesting FCA conduct a buy-back of the vehicles. The diesels in question were sold in 2014 to 2016 Jeep Grand Cherokees and Ram 1500 pickups. The EPA denied FCA permission to sell 2017 model year vehicles with the EcoDiesel.
The EcoDiesel’s still has a future, though. FCA says its updated EcoDiesel will make more power and be available in future vehicles. The new engine is said to have increased horsepower from 240 to 260 and torque from 420 to 442 pound-feet. The engine will return to the Jeep Grand Cherokee, debut in the new Jeep Wrangler JL, and be available in the new 2019 Ram 1500.