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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.

Stellantis reports $15B profit in first year of merger

FRANKFURT, Germany — Automaker Stellantis said Wednesday that it made 13.4 billion euros ($15.2 billion) in its first year after it was formed from the merger of Fiat Chrysler Automobiles and PSA Group. The earnings nearly tripled profits compared with its pre-merger existence as two separate companies, as the maker of Jeep, Opel and Peugeot vehicles exploited cost efficiencies from combining the businesses. The result compared to a combined 4.79 billion euros for the separate companies in 2020 before the merger, which took effect on Jan. 17, 2021. Revenue for the combined business rose 14%, to 152 billion euros. CEO Carlos Tavares said the results “prove that Stellantis is well positioned to deliver strong performance" and had overcome “intense headwinds” during the year. Automakers have struggled with shortages of key parts such as semiconductor electronic components and rising costs for raw materials as the global rebound from the worst of the coronavirus pandemic brings more demand. The company said the benefits of the merger were worth some 3.2 billion euros during the year. Mergers can lead to streamlined costs as companies combine functions and spread fixed costs over a larger revenue base. The company accelerated its rollout of battery-powered vehicles, with sales of low-emission vehicles reaching 388,000 — an increase of 160%. Stricter environmental regulations in Europe and China are pushing automakers to roll out more electric vehicles with longer range. Stellantis started production of a hydrogen fuel cell commercial van under its Opel brand in December. Stellantis' other brands include Chrysler, Citroen, DS, Fiat, Maserati, Ram and Vauxhall. Related video: Earnings/Financials Chrysler Dodge Ferrari Fiat Jeep RAM Citroen Opel Peugeot Vauxhall

Sell your own: 1969 Plymouth Barracuda

Looking to sell your car? We make it easy and free. Quickly create listings with up to six photos and reach millions of buyers. Log in and create your free listings. Always the "third" element in Detroit's Big Three, Chrysler and its Dodge, Plymouth and Chrysler divisions, usually played catchup to GM and Ford. However, Plymouth actually arrived to the ponycar segment on time, with its launch of the Valiant-based Barracuda almost on top of Ford's Mustang. That said, the segment became named for ponies, not an aggressive fish. By 1969, the Ford Mustang and Chevy Camaro were becoming bigger and more sophisticated. The Barracuda, by contrast, held on to its essential simplicity. We'd prefer the fastback and a small-block V8, but in the context of 2017 collectible-car values for Mopar, even a Slant Six coupe with unknown mileage might be worth checking out. From the supplied pics, this '69 Cuda looks to be in good condition; if it weren't, the asking price would likely be south of $10,000 – not north. Scarcity's not an issue, so this Barracuda would seem well-suited for the resto-mod treatment (above and beyond the aftermarket hood scoops), while keeping the post-purchase investment as minimal as the original outlay. Chrysler Used Car Buying Buying Guide Ownership Coupe Performance