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Italian government to lean on Fiat's Marchionne to commit to country

With the recent chatter that Fiat is looking to move its global headquarters to the US following a complete merger with Chrysler, the Italian government is voicing its opinion on the matter. Facing the potential job loss from the automaker leaving the country, Italy's industry minister is meeting with Fiat CEO Sergio Marchionne in what will likely be a plea to keep the company based in Turin rather than moving to Auburn Hills, MI - if indeed it is able to acquire the additional 41.5 percent of Chrysler currently owned by the United Auto Workers.
According to Bloomberg, Fiat is Italy's biggest private employer and unemployment is already nearing a 20-year high. The non-car side of Fiat, Fiat Industrial, is already planning a move to the UK, so it goes without saying that Fiat moving would be a pretty big blow for the Italian economy. In the article, Fiat says that the headquarters issue is "not on its agenda now," but that statement is far from a denial.

Fiat Chrysler to pay $40 million fine for inflating sales numbers

DETROIT — Fiat Chrysler is paying $40 million to settle with U.S. securities regulators who say the automaker misled investors by overstating its monthly sales numbers over a five-year period. The Italian-American company inflated sales by paying dealers to report fake numbers from 2012 to 2016, the U.S. Securities and Exchange Commission alleged in a complaint. Fiat Chrysler agreed to pay the civil penalty and to stop violating anti-fraud, reporting and internal accounting control regulations, the SEC said Friday in a statement. The automaker did not admit or deny the agency's allegations, the statement said. "This case underscores the need for companies to truthfully disclose their key performance indicators," Antonia Chion, associate director in the SEC's Enforcement Division, said in the statement. She noted that the new vehicle sales figures give investors insight into the demand for an automaker's products, a key to assessing the company's performance. Fiat Chrysler said it has reviewed and refined its sales reporting procedures. It said the payment will not have a large impact on its financial statements. The agency said the automaker boasted about a streak of year-over-year sales increases into 2016, when the streak actually was broken in September of 2013. When the company disclosed the sales scheme in 2016, it said that it had a "reserve" stock of cars that had been shipped to big fleet buyers such as rental car companies but not recorded as sales. The SEC said employees called this database of actual but unreported sales the "cookie jar." The company dipped into those sales to stop the streak from ending, or when it would have missed other sales targets. Fiat Chrysler said it now records sales as soon as vehicles are shipped to customers. It has also take steps to ensure that a sale is immediately subtracted from its books when it finds out the deal was scuttled because the buyer backed out or couldn't get financing. The SEC probe is another in a long string of legal troubles for Fiat Chrysler. It also faces federal investigations into illegal payments to union officials through a training center, and a criminal probe into allegations that its diesel-powered trucks were programmed to cheat on emissions tests. The company has denied cheating, but federal prosecutors charged an engineer earlier this week and said he conspired with others. In June, Fiat Chrysler's U.S.

2019 Toyota Sienna AWD vs 2018 Chrysler Pacifica Hybrid | New meets old

The Toyota Sienna has always been an inconspicuous van. They're out there, there's a lot of them and they're huge, but they blend in with darn near everything. Perhaps Toyota noticed that a little while ago and slapped on the slightly garish grille/not a grille plastic thing in the front bumper, but it still doesn't really stand out. On the other hand, our long-term Chrysler Pacifica Hybrid, which is a great deal newer than the Sienna, has slick styling that gets noticed. Toyota hasn't properly redesigned the Sienna since the 2011 model year, and it shows on every front. Despite its many shortcomings, there are still some valid arguments for going with the dinosaur. Ride and handling Of all the reasons to choose a Sienna over the much newer competition, available all-wheel drive has to be the main one. My tester was so equipped, and I got a chance to test it out in both snow and ice. Obviously, the first thing I did in powder was see if the rear end would break loose. I can confirm that with traction control off, the Sienna will slide around a little bit. You won't be doing any sick drifts, but it's undoubtedly more fun than our Pacifica. The Chrysler is fitted with Nokian Hakkapelitta winter tires. As you might guess, this means that braking and grip around corners is better than the Sienna in snow. If the Sienna were to ditch its slippery all-seasons for a proper set of winters, it would be running circles around the Pacifica. Still, I drove our Pacifica through a lake effect blizzard in Buffalo and it never blinked from lack of traction with multiple inches of snow on the ground. Some folks are going to want the assurance of all-wheel drive, and the Sienna will offer it, but don't make it your only option. All-wheel drive might help you get going, but winter tires are there to save the day when sledding gets tough. What impressed most about the Sienna was its ride quality and composure. This van earned its road warrior status on my drive to the Chicago Auto Show from Detroit. The long highway trek was handled without issue by the big minivan chassis. Bumps and road imperfections were soaked up well. Noise wasn't much of an issue either, something minivans can struggle with given the massive amount of space in the cabin ripe for vibrations and rattles. However, an uncomfortable seat led to some soreness after over four hours in the saddle. No matter how I adjusted the lumbar, it didn't seem to take to my 5'10" slim frame.