Fiat Chrysler Automobiles
||It has been suggested that Fiat S.p.A. be merged into this article. (Discuss) Proposed since October 2014.|
|Founded||October 12, 2014|
|Headquarters||London, United Kingdom|
|Key people||John Elkann (Chairman)
Sergio Marchionne (CEO)
|Products||Automobiles, commercial vehicles, auto parts, newspapers, production systems|
|Revenue||€86.816 billion (2013) as Fiat S.p.A., which has been merged into Fiat Chrysler Automobiles |
|Operating income||€1.008 billion (2013)as Fiat S.p.A., which has been merged into Fiat Chrysler Automobiles|
|Profit||€1.951 billion (2013)as Fiat S.p.A., which has been merged into Fiat Chrysler Automobiles|
|Total assets||€86.774 billion (2013) as Fiat S.p.A., which has been merged into Fiat Chrysler Automobiles|
|Total equity||€12.584 billion (end 2013) as Fiat S.p.A., which has been merged into Fiat Chrysler Automobiles|
|Owners||Exor S.p.A. (30.06%)
Baillie Gifford & Co. (2.64%)
Vanguard International Growth Fund (2.26%)
Norges Bank (2.01%)
|Employees||225,587 (end 2013) as Fiat S.p.A., which has been merged into Fiat Chrysler Automobiles|
Fiat Chrysler Automobiles, also known as FCA, is an Italian multinational company and the world’s seventh-largest auto maker. The group was established as a Netherlands-based holding company with its global headquarters in London and listings on the Borsa Italiana and New York Stock Exchange.
FCA was formed by merging Fiat S.p.A. and Chrysler LLC into a new company. Today FCA operates in 4 regions (NAFTA, LATAM, APAC, EMEA), with several brands like Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, Ram Trucks, Abarth, Mopar, SRT, Ferrari, Maserati, Comau, Magneti Marelli, Teksid.
The CEO, executive management and around twenty-two employees will operate out of London by the end of 2014. The other operating activities of the new group will remain unchanged, with manufacturing, design and engineering facilities remaining in Turin, Italy, and Auburn Hills, United States (and other locations worldwide, including Canada, India, Mexico, Brazil, Argentina, Poland and China).
Fiat S.p.A. has merged into FCA on October 12, as the board agreed to the terms on June 15, 2014, and the merger was approved by shareholders on August 1, 2014. The Fiat Group will become a wholly owned subsidiary of FCA.
FCA includes a wide range of automobile marques, including: Abarth, Alfa Romeo, Fiat, Fiat Professional and Lancia under Fiat Group Automobiles; Chrysler, Dodge, Jeep, and Ram Trucks under Chrysler Group. Other companies include luxury car (Maserati and Ferrari), components (Mopar, Magneti Marelli, Automotive Lighting), and engine (Fiat Powertrain Technologies, VM Motori) manufacturers, as well as firms working on production automation (Comau) and metal foundry Teksid (84.8% share).
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, including a US$5.5 billion pension liability.
On 29 January 2014 Fiat announced a reorganization and intended merger into a new holding company incorporated in the Netherlands, with tax domicile in the United Kingdom and a dual listing on both the NY and Milan stock exchanges. A very similar structure was used for the combination of CNH Global N.V. and Fiat Industrial S.p.A. to form CNH Industrial. It was later confirmed that the company would have its headquarters based in London, considered controversial in both Italy and the United States due to Fiat being the largest private employer in Italy while Chrysler was bailed out by American taxpayers. Marchionne defended the decision, feeling that London was neutral ground and didn't want to show bias for one end of the company over the other.
On 6 May 2014, FCA announced a five-year plan and a major restructuring among the combined company, with much of the global growth being 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.
On 2 July 2014 Fiat clarified how it would proceed with the formation of FCA. Fiat S.p.A. (now wholly owning Chrysler Group) would be merged into Fiat Investments N.V., a Netherlands based company. Subject to shareholder approval on 1 August, Fiat Investments will then be renamed Fiat Chrysler Automobiles N.V. and will become the holding company of the Group. On August 1, 2014, the merger was approved by Fiat shareholders. On October 12, 2014, the merger was completed, and Fiat Chrysler Automobiles became the owner of the Fiat Group.
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. Members of the Fiat Group, including Alfa Romeo, Chrysler, Dodge, Ferrari, Fiat, Maserati, Jeep, and Ram were included in this report.
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. A 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 equivelant 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. In 2015, the Jeep Grand Cherokee will be refreshed. 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.
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