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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.

Argentinians find stash of never-registered, brand-new 30-year-old Italian cars

While much of the world is sheltering in place, several new, never-registered Italian and French cars exited a 27-year confinement in Argentina. They were left for dead in an abandoned dealership that sold Alfa Romeo, Fiat, and Peugeot models in a city named Avellaneda near Buenos Aires, the country's capital. Details surrounding the dealership are murky. Argentina's Autoblog (no relation to us) reported it closed at some point during the 1990s after the owner and his son died in violent circumstances. Automotive archaeology tells your author it likely shut its doors in 1993, because that's the only year in which the first-generation Fiat Ducato launched in 1981 and the post-facelift Fiat Tipo, axed in 1995, overlapped. Both are clearly visible in the photos. What's certain is that someone finally inherited the property in 2020 and wanted the cars gone as quickly as possible in order to sell it. The anonymous owner asked Kaskote Calcos, a local body shop that also runs a used-car lot, to haul them away via Instagram. We're guessing the firm didn't need to be asked twice.           View this post on Instagram                       A post shared by Axel By Kaskote (@kaskotecalcos) on Mar 24, 2020 at 1:57pm PDT Many of the cars hidden in the dealership were made by Fiat; the photos show several examples of the Tipo, an Uno, a Tempra, and the aforementioned Ducato. An Alfa Romeo 33 wagon and a Peugeot 405 were also stashed in the trove. Most were stored indoors so they weren't damaged by sunlight or humidity, and images of the cars taken after they were pressure-washed confirm they're in like-new condition inside and out. We're told some even started, though for the love of valves and pistons we hope they got a new timing belt before being fired up.  Kaskote Calcos hasn't revealed what it will do with the cars. None are particularly sought-after, they're economy cars that were mass-produced and mass-destroyed, and their current values reflect that. You can get a post-facelift Uno for the price of a few Peroni pints in Italy. The fact that they're new, never-registered examples will undoubtedly increase their appeal, even if registering them could require slashing through jungles of red tape. As a side note, finding a 405 beached in a Fiat dealership isn't as random as it might sound.

Fiat Chrysler to get $105M fine from NHTSA for recall woes

The National Highway Traffic Safety Administration is about to send a powerful message to automakers doing business in the United States, assuming reports of an upcoming $105 million fine against Fiat Chrysler Automobiles comes to fruition. In addition to the record-setting monetary fine, according to The Wall Street Journal, FCA will have to accept an independent auditor that will monitor the company's recall and safety processes and will be forced to buy back certain recalled vehicles. In other cases, such as with Jeep Grand Cherokee and Liberty models with gas tanks that could potentially catch fire in certain types of accidents, FCA will offer financial encouragement for owners to get their recall work done or to trade those older vehicles in on new cars, according to the report. FCA could reportedly reduce its fines if it meets certain conditions, though those remain unclear at this time. These actions against FCA are being taken after NHTSA began a probe into the automaker over almost two dozen separate instances where the government claims FCA failed to follow proper procedures for recalls and safety defects. Included in those safety lapses are more than 11 million vehicles currently in customer hands. These penalties and fines are separate from the investigation over security problems with Chrysler's Uconnect system that allowed hackers to obtain remote access into key vehicle systems in 1.4 million vehicles. Related Video: Image Credit: Marco Bertorello/AFP/Getty Earnings/Financials Government/Legal Recalls Chrysler Dodge Fiat Jeep RAM Safety fiat chrysler automobiles fine