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FCA scion John Elkann tries to pull off a Marchionne-sized merger

MILAN, Italy — When John Elkann lost his ally last year with the sudden death of Sergio Marchionne, some questioned whether the softly-spoken scion of the Agnelli clan would be able to emerge from his shadow to ensure Fiat Chrysler's future. But New York-born Elkann, who became Fiat chairman in 2010, acted decisively to fill the vacuum left by the larger-than-life Marchionne and get closer to the big merger deal the legendary executive was unable to deliver. At just 28, Elkann was thrust into the role of Fiat vice chairman after the deaths of his grandfather and great-uncle "because there was really nobody else" to take the wheel. For Elkann, who got his first taste of the car industry as an intern at a factory producing headlights in Birmingham, England, the first 18 months with responsibility for the family-owned carmaker and its long heritage were "terrible." But from that low point, Elkann, 43, is now trying to merge Fiat Chrysler (FCA) with French rival Renault to form the world's third largest carmaker and tackle new challenges facing the industry. Elkann will become chairman of the merged FCA-Renault if the deal goes ahead, ensuring the Agnelli dynasty plays a central role in the next chapter of automotive history. At an event in Milan on Monday, the usually-shy Elkann looked happy and confident. His first big break came with an instrumental role in persuading Marchionne, who was running one of the businesses owned by the Agnelli family, to become chief executive in 2004 and give Fiat "a new start," Elkann said in a "Masters of Scale" podcast last year. Fiat was at the time almost on the brink of collapse. This involved a "very long night ... and many grappas" but proved to be a turning point in the fortunes of the Italian company founded by Elkann's great-great-grandfather Giovanni Agnelli, which built its first car in 1899. In 2005, Elkann backed Marchionne in negotiating the breakup of an alliance Fiat had entered into with General Motors in 2000, receiving $2 billion from GM in return for canceling a deal that could have required GM to buy the remainder of Fiat Auto. Marchionne then used GM's money to fund a turnaround at Fiat, which involved taking the Italian carmaker into a transformation alliance and then full-blown merger with U.S. automaker Chrysler as Elkann agreed to the Agnellis loosening their grip.

Fiat Chrysler, GM are trying 7-year 0% loans, online buying to lift plunging sales

With auto showrooms shut during the coronavirus pandemic, Fiat Chrysler and General Motors moved to reboot demand with seven-year, no-interest loans and programs allowing customers to buy vehicles online. Fiat Chrysler Automobiles' new "Drive Forward" marketing program includes online shopping tools that will for the first time allow U.S. customers to complete the purchase of a vehicle through an FCA dealer without setting foot in a dealership, a company spokesman said. The move toward online sales and home delivery breaks with a long U.S. auto sector tradition of manufacturers giving franchised dealers control of sales to consumers. Dealers have fought Tesla 's efforts to sell vehicles directly to consumers through its website. GM and Fiat Chrysler's promotions of extended, no-interest loans — made less costly by the Federal Reserve's recent interest rate cuts — echo the "Keep America Rolling" sales push GM launched to jump start a paralyzed consumer market after the Sept. 11, 2001, attacks. But the pandemic has been pulling auto retailing into the digital age, with dealerships shuttered across the country and sales likely to take a further beating in April as social distancing guidelines remain in place.   Related: Auto sales drop in March as coronavirus hits demand, output   FCA shares were down 4.9% to $6.84 in afternoon trading in New York after the company posted a 10% drop in first-quarter U.S. auto sales, as the pandemic hurt demand and halted production from mid-March. The company, however, did not break out sales by month. General Motors reported its first-quarter sales fell 7% because of significant declines in March, and said customers can use its existing "Shop.Click.Drive." program to find, purchase and arrange for home delivery of a vehicle. A GM spokeswoman said across the Chevrolet, Buick, GMC and Cadillac brands the automaker has seen two to four times greater online site visits and sales leads than before the pandemic. Hyundai said earlier that its U.S. sales fell 43% in March due to the pandemic. "It goes without saying that the entire world is facing a tremendous challenge that is having a significant impact on business and our normal way of life," Randy Parker, vice president for sales at Hyundai Motor America, said in a statement. Toyota said its sales were down nearly 37% in March and 8.8% for the quarter. Nissan reported a 27% drop in first-quarter sales.

Chrysler recalls AWD 300, Charger, Ram 1500 over ZF transmission

What do the Chrysler 300, Dodge Charger and Ram 1500 all have in common? Yes, they're all Chrysler products, and two of them are based on the same platform. And we're sure you could find more similarities between them all, but the common trait we're looking at here is that, while they all come standard in rear-drive form, they're also available with all-wheel drive. And it's the transmission in those models that's the subject of the latest recall notice issued by the National Highway Traffic Safety Administration.
The output shaft on the eight-speed automatic transmission supplied by ZF to Chrysler for the AWD versions of the 300, Charger and Ram 1500 is apparently prone to fracture. That in the end could leave the vehicle without power and could, according to the NHTSA investigation, increase the chance of a crash. The vehicle could also roll away if even if left in Park without the handbrake applied.
That's why Chrysler is calling in 4,194 examples of those three models from the 2013 model year. Dealers will be responsible for inspecting the transmissions and, where necessary, replace the entire unit. See the full recall notice below for all the details.