Fiat Chrysler Automobiles

From Wikipedia, the free encyclopedia
Jump to: navigation, search
This article is about the holding company of Fiat Group. For the company that preceded Fiat Chrysler Automobiles, see Fiat S.p.A.. For the subsidiary which produces Fiat branded cars, see Fiat Automobiles.
Fiat Chrysler Automobiles NV
Type Naamloze vennootschap
Traded as NYSEFCAU
Industry Automotive
Media
Predecessors Fiat S.p.A.
Founded October 12, 2014[1]
Headquarters London, United Kingdom
Area served Worldwide
Key people John Elkann (Chairman)
Sergio Marchionne (CEO)
Products Automobiles, commercial vehicles, auto parts, newspapers, production systems
Revenue Increase €86.816 billion (2013) as Fiat S.p.A., which has been merged into Fiat Chrysler Automobiles [2]
Operating income Decrease €1.008 billion (2013)as Fiat S.p.A., which has been merged into Fiat Chrysler Automobiles[3]
Profit Increase €1.951 billion (2013)as Fiat S.p.A., which has been merged into Fiat Chrysler Automobiles[4]
Total assets Increase €86.774 billion (2013) as Fiat S.p.A., which has been merged into Fiat Chrysler Automobiles[5]
Total equity Decrease €12.584 billion (end 2013) as Fiat S.p.A., which has been merged into Fiat Chrysler Automobiles[6]
Owners Exor (30.06%)
Baillie Gifford & Co. (2.64%)
Vanguard International Growth Fund (2.26%)
Norges Bank (2.01%)[7]
Employees 225,587 (end 2013) as Fiat S.p.A., which has been merged into Fiat Chrysler Automobiles[8]
Subsidiaries
Website fcagroup.com

Fiat Chrysler Automobiles NV (FCA) Fiat Chrysler Automobiles is the world’s seventh-largest auto maker, established as a Netherlands-based holding group with global headquarters in London and a primary listing on the New York Stock Exchange.[10]

FCA is the parent company of the Fiat Group, and the company that Fiat S.p.A. was merged into on October 12, 2014.[11] The shareholders, board, and executive management of Fiat S.p.A. remains the shareholders, board, and executive management of Fiat Chrysler Automobiles, and Chrysler Group still remains a subsidiary. Following the merger, FCA became the owner of the Fiat group, the holding company that contains many of the company's brands, such as Ferrari, Maserati, Fiat Group Automobiles, and Chrysler Group Automobiles. [12]

The CEO, executive management and around twenty-two employees will operate out of London by the end of 2014.[13] 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).

Subsidiaries[edit]

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.[12][14] 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[15]) manufacturers, as well as firms working on production automation (Comau) and metal foundry Teksid (84.8% share).

History[edit]

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.[16] The overall cost to acquire Chrysler cost Fiat US$4.9billion, including a US$5.5 billion pension liability.[17]

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.[18] 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.[19]

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.[20] 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.[21]

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.[22] On October 12, 2014, the merger was completed, and Fiat Chrysler Automobiles became the owner of the Fiat Group.[11]

Fiat Chrysler Automobiles' 5 Year Plan (2014-2018)[edit]

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.[23]

Alfa Romeo[edit]

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).[23]

Chrysler[edit]

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 fullsizee 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.[23]

Dodge[edit]

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.[24][25] 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).[23]

Ferrari[edit]

Between 2014 and 2018, a new Ferrari vehicle will be launched each year.[23]

Fiat[edit]

In 2015, a new Fiat 500X will be launched, along with a new specialty car.[23]

Maserati[edit]

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.[23]

Jeep[edit]

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.[23]

Ram[edit]

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.[23]

[edit]

The new FCA logo was created by the Italian branding company Robilant Associati,[26][27] ending the use of the Fiat S.p.A. logo and Chrysler Pentastar logo for group branding.[28]

References[edit]

  1. ^ "Fiat Chrysler Automobiles merger to become official Sunday". detroitnews.com. Retrieved 7 October 2014. 
  2. ^ "Fiat S.p.A. 2013 Annual Report". Retrieved 13 October 2014. 
  3. ^ "Fiat S.p.A. 2013 Annual Report". Retrieved 13 October 2014. 
  4. ^ "Fiat S.p.A. 2013 Annual Report". Retrieved 13 October 2014. 
  5. ^ "Fiat S.p.A. 2013 Annual Report". Retrieved 13 October 2014. 
  6. ^ "Fiat S.p.A. 2013 Annual Report". Retrieved 13 October 2014. 
  7. ^ "Fiat S.p.A. 2013 Annual Report". Retrieved 13 October 2014. 
  8. ^ "Fiat S.p.A. 2013 Annual Report". Retrieved 13 October 2014. 
  9. ^ "Group Brands". fiatspa.com. Retrieved 25 May 2013. 
  10. ^ "Turning a Corner: Fiat Chrysler Automobiles Makes Trading Debut". Fox Business. 13 October 2014. 
  11. ^ a b "Fiat says merger into Dutch-registered FCA effective October 12". London, U.K. Reuters. 7 October 2014. 
  12. ^ a b "Fiat S.p.A. approves merger plan for the formation of Fiat Chrysler Automobiles". Retrieved July 21, 2014. 
  13. ^ "MLive". 8/1/14. 8 January 2014. Retrieved August 1, 2014. 
  14. ^ "Fiat S.p.A.". 8 January 2014. Retrieved August 1, 2014. 
  15. ^ "Fiat buys remainder of diesel maker VM Motori from GM". Autonews. 28 October 2013. Retrieved 26 February 2014. 
  16. ^ "Fiat shares surge after deal to buy remaining Chrysler stake". BBC. 2 January 2014. Retrieved 30 January 2014. 
  17. ^ "The new Fiat Chrysler faces a rougher road than many think". Washington Post. 7 February 2014. Retrieved 7 February 2014. 
  18. ^ "Fiat HQ move risks political pain for tax gain". Reuters. 27 January 2014. Retrieved 30 January 2014. 
  19. ^ Ebhardt, Tommaso (2014-05-08). "Marchionne Says London to Have Fiat Chrysler Headquarters". Bloomberg. Retrieved 2014-06-22. 
  20. ^ "Fiat Chrysler unveils aggressive five-year plan - Los Angeles Times". Latimes.com. 2014-05-06. Retrieved 2014-06-22. 
  21. ^ "Fiat chiefs confirm Lancia to only sell cars in Italy". Autocar. Retrieved 2014-06-22. 
  22. ^ Barry, Colleen (August 1, 2014). "With Vote for Chrysler Merger, Fiat Looks Abroad - ABC News". ABC News. ABC. Retrieved August 1, 2014. 
  23. ^ a b c d e f g h i "Fiat Chrysler Automobiles: The next five years - Autoblog". Autoblog. May 6, 2014. Retrieved October 11, 2014. 
  24. ^ "2015 Dodge Challenger SRT Hellcat Official Photos and Info - News - Car and Driver". July 2014. 
  25. ^ "2015 Dodge Charger SRT Hellcat Official Photos and Info – News – Car and Driver". August 2014. 
  26. ^ "Fiat-Chrysler Merger Spawns New Logo". New York Times. 3 February 2014. Retrieved 6 February 2014. 
  27. ^ "FCA logo". Robilant Associati. Retrieved 7 February 2014. 
  28. ^ "Fiat and Chrysler adopt a new logo". FCA. 29 January 2014. Retrieved 29 January 2014.