Fiat Chrysler Automobiles
(public limited company)
|Founded||12 October 2014|
|Headquarters||London, UK (operations), and Amsterdam, Netherlands (legal domicile)|
|John Elkann (Chairman)
Sergio Marchionne (CEO)
|€3.223 billion (2014)|
|Profit||€632 million (2014)|
|Total assets||€100.510 billion (2014)|
|Total equity||€13.738 billion (2014)|
Number of employees
Fiat Chrysler Automobiles, also known as FCA (BIT: FCA, NYSE: FCAU), is a multinational company and the world’s seventh-largest auto maker. The group was established in 2014 by merging Fiat S.p.A. into a new Netherlands-based holding company with its global headquarters in London, UK and listings on the Borsa Italiana and New York Stock Exchange.
It operates through two main subsidiaries: FCA Italy (previously Fiat Group Automobiles) and FCA US (previously Chrysler LLC) with many well known automotive marques including Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, Ram Trucks, Abarth, Mopar and SRT. FCA also owns Ferrari, Maserati, Comau, Magneti Marelli, Teksid. Today FCA operates in four regions (NAFTA, LATAM, APAC, EMEA).
The CEO, executive management and around twenty-two employees operate out of London. The other operating activities of the new group remained unchanged, with manufacturing, design and engineering facilities remaining in Turin, Italy, and Auburn Hills, Michigan, United States (and other locations worldwide, including Canada, India, Mexico, Brazil, Argentina, Poland and China).
Board of Directors
Executive members of the FCA Board of Directors as of October 2014 are John Elkann (Chairman) and Sergio Marchionne (Chief Executive Officer), with non-executive directors Ronald L. Thompson, Andrea Agnelli, Tiberto Brandolini d'Adda, Glenn Earle, Valerie A. Mars, Ruth J. Simmons, Patience Wheatcroft, Stephen Wolf and Ermenegildo Zegna.
FCA undertakes its automotive manufacturing business through two main subsidiaries: FCA Italy (previously Fiat Group Automobiles) and FCA US (previously Chrysler Group). Both name changes were announced in December 2014.
Other companies include luxury car (Maserati, Ferrari) and components (Magneti Marelli, Automotive Lighting) manufacturers as well as firms working on production automation (Comau) and metal foundry (Teksid, 84.8% share). Other joint ventures and subsidiaries are undertaken via the FCA Italy and FCA US companies.
FCA also operates in the print media and advertising fields through its Italiana Editrice subsidiary (publisher of the Italian La Stampa and Il Secolo XIX newspapers) and an interest in RCS Media Group.
The integration between Fiat and Chrysler dates back to 2009 after Chrysler filed for Chapter 11 bankruptcy reorganization on 30 April 2009. On 10 June 2009, Chrysler emerged from the bankruptcy proceedings with the United Auto Workers pension fund, Fiat, and the U.S. and Canadian governments as principal owners. Over the next few years, Fiat gradually acquired the other parties' shares to take majority ownership of the company, and on 21 January 2014 Fiat completed the acquisition of the remaining 41.5% from the United Auto Workers, making Chrysler Group a wholly owned subsidiary. The overall cost to acquire Chrysler cost Fiat US$4.9billion, with an additional US$5.5 billion pension liability.
On 29 January 2014 Fiat announced a reorganization and intended merger into a new holding company. A very similar structure was used for the combination of CNH Global N.V. and Fiat Industrial S.p.A. to form CNH Industrial.
Fiat S.p.A. merged into FCA on 12 October 2014, as the board agreed to the terms on 15 June 2014, and the merger was approved by shareholders on August 1, 2014.
Fiat Chrysler Automobiles' 5 Year Plan (2014–2018)
On May 6, 2014, Fiat Chrysler Automobiles announced a plan for the next 5 years in order to outline the future for the company. The company expects that: sales volumes will increase to 7 million units, the revenues will reach 132 billion €, the net income will reach 5 billion € and that the industrial debt will peak at 11 billion € in 2015, and then reduce to 0.5-1 billion € by end of 2018.
Much of the global growth will be focused around Jeep, due to its high visibility globally as well as the growing SUV market in developing markets. Chrysler will be re-positioned as the company's mainstream North American brand to compete with Ford, Chevrolet, Toyota, and Volkswagen, while Dodge will focus on performance-based vehicles. Alfa Romeo will become the company's premium marque to compete with Mercedes-Benz, BMW, and Audi, while Maserati will be the company's ultra-luxury brand to compete with Bentley and Rolls-Royce. Fiat (which will remain the company's mainstream brand outside North America), Ram Trucks, and Ferrari will remain largely unchanged, while SRT was merged back into Dodge. Conspicuously absent in the announcement was Lancia, which was later confirmed to be withdrawing from all markets outside Italy, and possibly withdrawn altogether in 2018.
In 2014, Alfa Romeo is launching the 4C and 4C Spider in the United States. In 2015, a new midsize vehicle will be launched, and between 2016 and 2018, two new compact vehicles, a new midsize vehicle, a new full-size vehicle, two new utility vehicles, and a new "specialty" vehicle will launch. (All of these are not necessarily for the United States).
In 2014, Chrysler is releasing a refreshed 300/300C, which is set by FCA to debut at the Los Angeles Auto Show. An all-new Chrysler 100 sedan will be launched in 2016, along with a new Chrysler Town & Country (this model will include a PHEV version). In 2017, the Chrysler 200 will receive a refresh, and a new fullsize crossover will be announced (also with a PHEV version). In 2018, an all new 300/300C will launch, along with an all new mid-size crossover.
The first announcement was that the SRT brand will be put back into Dodge. In 2014, the refreshed Charger launches, along with the refreshed Challenger (and equivalent SRT version). The Dodge Charger SRT Hellcat and Challenger SRT Hellcat were also launched. 2014 is also the last model year for the Dodge Avenger. In 2015, the Viper will be refreshed. In 2016, the new Dodge Dart (and Dodge Dart SRT) will be launched, along with a new Dodge Journey. The Dodge Grand Caravan also sees its last model year. In 2017, a new Dodge Journey SRT will arrive, along with a refreshed Dodge Durango. In 2018, a new sedan and hatchback will launch, a new Challenger (and SRT version) will be unveiled, along with a new Charger (and SRT version).
Between 2014 and 2018, a new Ferrari vehicle will be launched each year.
In 2014 Fiat announced its intentions to sell its share in Ferrari, as of the announcement Fiat owned 90% of the company.
In 2014, the Maserati GranTurismo and GranCabrio will see the end of the nameplate (until 2018). In 2015, the new Maserati Levante SUV will be launched. In 2016, the new Maserati Alfieri Coupe will be launched. In 2017, the new Maserati Alfieri Cabriolet will be launched. In 2018, a new GranTurismo will be launched with a 560 V8 and rear wheel drive. Between 2014-2018, the top of the line Maserati Quattroporte GTS will be receiving a 560-horsepower V8 with all-wheel drive to replace the current 523 horsepower V8 with rear wheel drive in the GTS model. The top of the line Ghiblis and Levantes will be receiving the same setup as the Quattroporte. The top of the line Alfieri will be receiving a 520-horsepower V6 with all-wheel drive.
In 2014, the new Jeep Renegade launches. After a long absence in the Malaysian market, Jeep has once again landed in Malaysia with its first 3S centre located in the ever-expanding automotive hub in Glenmarie, Shah Alam. In 2015, the Jeep Grand Cherokee will be refreshed, and Fan Bingbing, Tina Fey, Sandra Bullock, Julia Roberts and Cate Blanchett will promote as the brand ambassadors. 2016 marks the 75th anniversary of Jeep, and the Jeep Compass and Jeep Patriot will see their last model year, and a new SUV will be launched, along with a refreshed Jeep Cherokee. In 2017, the Jeep Renegade will be refreshed, a new Jeep Wrangler will be launched, and the new Grand Cherokee will be launched. In 2018, a Jeep Grand Wagoneer will be launched.
In 2014, a ProMaster diesel will be launched, along with a ProMaster City. In 2015, the Ram 1500 will receive a refresh. In 2016, the Ram HD and Ram chassis cab will both be refreshed. In 2017, a new Ram 1500 will be launched, and a commercial light-duty truck will be refreshed. In 2018, a new Ram HD will be launched, along with a commercial heavy-duty truck, and Ram chassis cab will receive a major update.
In 2013 revenues totaled €87 billion, increasing 3% in nominal terms and 7% on a constant currency basis. Trading profit totaled €3.4 billion and net profit was nearly €2 billion.
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