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Only best-performing US Fiat dealers to get Alfa Romeo franchises

Alfa Romeo has been rumored to return to the US market so many times for so many years, it's hard to keep count. This time, though, Fiat Chrysler CEO Sergio Marchionne promises that it's for real. Alfa is scheduled to reappear in the States this summer with its 4C sports coupe as its introductory model. However, buyers won't be able to pop into just any Fiat showroom and leave with a 4C – it's planning to only sell Alfas at its best-performing dealers, according to The Detroit News. In fact, the first 4Cs sold here won't be sold at Fiat dealers at all. Instead the first shipment of cars in June will go to Maserati dealers, not unlike the handful of Alfa 8C Competizione coupe and convertible models that trickled in starting in 2008. According to Fiat Chrysler spokesperson Rick Deneau, the company is still deciding which Fiat retailers will participate in Alfa's reentry. Many of Fiat's US dealers are apparently not happy with the meritocracy approach. They built Fiat showrooms partially on the promise that Alfa would enter the US market in 2012, then 2013, and now later this year. Even worse for them, the prospects for more mainstream Alfa Romeo models in the US are still questionable. This isn't the first time that we've heard that Fiat plans to keep Alfa Romeo exclusive in the US. Still, Fiat only plans to export about a 1,000 4C sports coupes a year here. If Alfa wants to be a legitimate player in America and be a money-making concern globally, it will need far more sales than that. Featured Gallery 2015 Alfa Romeo 4C: First Drive View 57 Photos News Source: The Detroit NewsImage Credit: Copyright 2014 Matt Davis / AOL Earnings/Financials Marketing/Advertising Alfa Romeo Fiat Maserati Coupe Performance Sergio Marchionne alfa romeo 4c fiat dealers

Stellantis mega-merger gets approval from FCA, PSA shareholders

MILAN — Shareholders of Fiat Chrysler and PSA Peugeot decisively voted Monday to merge the U.S.-Italian and French carmakers to create worldÂ’s 4th-largest auto company. Addressing separate meetings, both PSA Peugeot CEO Carlos Tavares and Fiat Chrysler Chairman John Elkann spoke of the “historic” importance of the vote, which combines legacy car companies that helped write the industrial histories of the United States, France and Italy. Before the merger is finalized, shares in the new company, to be called Stellantis, must the launched. It will be traded in Milan, New York and Paris. The marriage of PSA Peugeot and Fiat Chrysler Automobiles is built on the promise of cost-savings in the capital-hungry industry, but what remains to be seen is if it will be able to preserve jobs and heritage brands in a global market still suffering from the pandemic. The deal will create the worldÂ’s fourth-largest carmaker, with the capacity to produce 8.7 million cars a year, behind Volkswagen, Toyota and Renault-Nissan, and create 5 billion euros in annual synergies.  “We are fully aware of the fact that together we will be stronger than individually,'' PSA CEO Carlos Tavares told a virtual gathering of eligible shareholders. “The two companies are in good health. These two companies have strong positions in their markets.” The new company will put together under one roof French mass-market carmakers Peugeot and Citroen, top-selling Jeep and Italian luxury and sports brands Maserati and Alfa Romeo - pooling companies that have helped define the industry in the United States, France and Italy. While the tie-up is billed as a merger of equals, the power advantage goes to PSA, with Tavares running Stellantis and holding the tie-breaking vote on the 11-seat board. Tavares is set to take full control of the company early this year, possibly by the end of January. Fiat Chrysler chairman John Elkann, heir to the Fiat-founding Agnelli family and Fiat ChryslerÂ’s biggest shareholder, will be the Stellantis chairman. Fiat Chrysler CEO Mike Manley will head North American operations, which is key to Tavares' long-time goal of getting a U.S. foothold for the French carmaker he has run since 2014, and the clear money-maker for Fiat Chrysler. Such a deal was long wanted by Fiat ChryslerÂ’s long-time CEO Sergio Marchionne, who had predicted the necessity of consolidation in the industry. He was unable to find a deal before his sudden death in July 2018.

Fiat talking with banks about buying rest of Chrysler

All that stands in the way of Fiat's total ownership of Chrysler is a 41.5-percent stake currently held by the United Auto Workers healthcare trust, but according to SFGate.com, Sergio Marchionne is currently trying to raise the capital to complete the acquisition. The article says that a deal could be completed in as soon as 12 months, and the estimate for the remaining stake could cost Fiat SpA around $2.98 billion.
With a goal of completing the deal by the end of 2014, Marchionne is said to be in talks with various banks to help finance some of the deal. According to the report, the banks have indicated a need for a stronger balance sheet, controlled debt and reserve cash.
Two things that don't seem to be on the table to get the deal completed include issuing new shares to raise the capital or selling a stake in Ferrari. Fiat started with a 20 percent share of Chrysler in June 2009, and it raised its stake up to 58.5 percent in January 2012.