Sergio Marchionne, CEO of Chrysler, said that Chrysler plans to introduce a Fiat in the U.S. powered by natural gas. Bloomberg/Businessweek quotes Marchionne: "Natural gas engines offer a better way to cut emissions because they are cheaper than competing technologies."

Fiat is the leader in Europe in natural gas engines with 80% share of methane powered cars and 55% of light commercial vehicles. Alfredo Altavilla, quoted in Bloomberg/Businessweek said natural gas is a "more affordable solution" as it is less expensive to produce transport and distribute compared with other fuel sources.

Continue reading Fiat's Natural Gas vs. GM and Toyota's Electric Car

Fiat's Natural Gas vs. GM and Toyota's Electric Car originally appeared on BloggingStocks on Thu, 02 Dec 2010 12:30:00 EST. Please see our terms for use of feeds.

On Wednesday, Chrysler CEO Sergio Marchionne announced that he has designed a five-year plan for the automaker (Wall Street Journal, subscription required). Marchionne believes the restructuring will be slow initially, but should improve "significantly" next year.

We should receive the plan by the end of November, and Chrysler will start reporting its quarterly results by the end of the year. Marchionne stated, "We are going to become a normal reporter in the U.S. hopefully by the end of 2009. ... You will see numbers like you see for everyone else." One can only assume that this is one of the "whole pile of surprises" Marchionne promised back in June when Fiat took over Chrysler.

Continue reading Chrysler releases five-year plan

Chrysler releases five-year plan originally appeared on BloggingStocks on Wed, 16 Sep 2009 11:40:00 EST. Please see our terms for use of feeds.

Continue reading Lee Iacocca suggests Chrysler return the government loan soon

Lee Iacocca suggests Chrysler return the government loan soon originally appeared on BloggingStocks on Mon, 22 Jun 2009 10:20:00 EST. Please see our terms for use of feeds.

There's new boss at Chrysler, and his name is Sergio Marchionne. On the job just a few days, Mr. Marchionne has shown that he plans to run a tight ship at Chrysler. His first move was to appoint powerful divisional heads with profit and loss accountability.

He has initiated a top-to-bottom shake-up, naming 23 executives who will report directly to him. Some of the 23 are from Fiat and others were promoted within Chrysler.

Continue reading Marchionne sets new work ethic for Chrysler

Marchionne sets new work ethic for Chrysler originally appeared on BloggingStocks on Sun, 14 Jun 2009 11:40:00 EST. Please see our terms for use of feeds.

According to the Financial Times, General Motors (NYSE: GM) expects "as many as three bids" for a strategic stake in its European arm by today's deadline. GM Europe spokesman Chris Preuss stated, "Based on conversations that are ongoing, the expectation is that there will be three bids put on the table." GM expects to rake in $887 million for the division.

The report quotes "two people close to the deal, who requested anonymity" as saying the three bids could come from Fiat, Canadian parts manufacturer Magna, and Brussels firm RHJ International.

Continue reading General Motors says it has three suitors for its European divisions

General Motors says it has three suitors for its European divisions originally appeared on BloggingStocks on Wed, 20 May 2009 09:20:00 EST. Please see our terms for use of feeds.

After partnering up with newly bankrupt Chrysler LLC, Italian automaker Fiat SpA is now interested in acquiring the Opel unit of General Motors Corporation (NYSE: GM). In fact, according to German Economics Minister Karl-Theodor zu Guttenberg, Fiat is seeking to integrate its recent and future auto acquisitions into a new global car alliance.

After meeting with Fiat CEO Sergio Marchionne, zu Guttenberg told reporters that the Italian firm would need estimated bridge financing of 5 billion to 7 billion euros to facilitate its planned partnership with GM Europe. The Opel unit, combined with Fiat's own operations and its stake in Chrysler LLC, would form the new alliance.

Continue reading Fiat to create new global car alliance; may acquire GM's Opel unit

Fiat to create new global car alliance; may acquire GM's Opel unit originally appeared on BloggingStocks on Mon, 04 May 2009 11:00:00 EST. Please see our terms for use of feeds.

This post is one of several on business heirs apparent. Let us know in the comments whether you think John Elkann should take up the reigns of Fiat, and be sure to check out the other heir apparent posts.

Gianni Agnelli, principal shareholder of Fiat and grandson of the company's founder had been grooming his nephew to take up the reins of the family business when that nephew died of a rare form of cancer in 1997. Gianni's grandson John Elkann became the next heir apparent at the age of 22, when he was appointed to Fiat's board. After Gianni passed away in 2004, Elkann assumed the vice chair of not only the Fiat board, but the board of holding company that controls the Agnelli family stake in Fiat.

Elkann stepped into his new role at a time of crisis for Fiat. Mismanagement and a damaged brand image required a bank bailout to avoid bankruptcy. Recovery meant selling assets, management changes, and reinvesting in the core company. Renewed strength in the struggling automotive division (which includes the Fiat, Lancia, and Alfa Romeo brands) helped lift the company. Now, among other things, Elkann spearheads the company's efforts at global expansion.

Continue reading Heir apparent: John Elkann, the new face of Fiat

Heir apparent: John Elkann, the new face of Fiat originally appeared on BloggingStocks on Tue, 18 Mar 2008 17:10:00 EST. Please see our terms for use of feeds.