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FCA posts $716m profit in 2014, has big plans for 2015

In practically every metric, Fiat Chrysler Automobiles announced growing worldwide earnings for 2014 in its latest financial release. The automaker sold 4.608 million vehicles globally for the year, a 6-percent jump, and total revenue grew 11 percent to 96.090 billion euros ($109 billion). Profits before taxes also increased by 161 million euros ($182 million) from last year to 1.176 billion euros ($1.3 billion). However, net profits did tumble by 1.319 billion euros ($1.5 billion) to a total of 632 million euros ($716 million). These figures put FCA slightly ahead of what some analysts expected. According to Automotive News, the company's adjusted earnings before taxes and interest of 3.651 billion euros ($4.1 billion) beat a forecast figure of 3.4 billion euros ($3.9 billion). Regionally, Europe is showing signs of a comeback. FCA lost 109 million euros ($123 million) there in 2014, but that was almost a triumph compared to the 506 million euro ($573 million) loss in 2013. According to Automotive News, North America played a major role in the company's success, accounting for 55 percent of its revenue. While these annual figures show growth, FCA is even more optimistic about its prospects in 2015. The company is forecasting shipments of between 4.8 and 5 million vehicles worldwide next year. It also estimates earnings before interest and taxes to reach 4.1 billion and 4.5 billion euros ($4.6 billion – $5.1 billion). You can read FCA's full results in PDF format, here. While this release focuses on worldwide figures, FCA US, previously known as Chrysler Group, announces its US results on February 3. News Source: Fiat Chrysler Automobiles, Automotive News - sub. req. Earnings/Financials Chrysler Fiat FCA fiat chrysler automobiles

Fiat Chrysler says it did not know about Marchionne's illness

ZURICH/MILAN — Fiat Chrysler said it knew nothing about the medical condition of Sergio Marchionne after a Swiss hospital said on Thursday it had been treating the deceased chief executive for more than a year. "Due to medical privacy, the company had no knowledge of the facts relating to Mr. Marchionne's health," a Fiat Chrysler spokesman said. Questions have been raised about how long Marchionne, who died on Wednesday, was ill and how much the company knew before it made the situation public. Marchionne rescued Fiat and Chrysler from bankruptcy after taking the wheel of the Italian carmaker in 2004 and he multiplied Fiat's value 11 times through 14 years of canny dealmaking. He was due to step down at FCA in April next year. "The company was made aware that Mr. Marchionne had undergone shoulder surgery and released a statement about this," the spokesperson said. "On Friday, July 20, the company was made aware with no detail by Mr. Marchionne's family of the serious deterioration in Mr. Marchionne's condition and that as a result he would be unable to return to work. The company promptly took and announced the appropriate action the following day." Asked whether the scope of the statement included the board and the chairman, the company declined to comment. In emailed comments, Marchionne's family confirmed the companies had not been aware of his health conditions. "At the end of last week FCA was made aware Sergio Marchionne would no longer be able to return to work without mentioning any further details," the family said. The announcement of the death of Marchionne, 66, one of the auto industry's most tenacious and respected CEOs, drew tributes from rivals and tears from his closest colleagues on Wednesday. University Hospital Zurich said earlier on Thursday Marchionne had been treated for a serious illness for more than a year before his death. Marchionne had fallen gravely ill after what the company had described as shoulder surgery at a Zurich hospital. He was replaced as chief executive last weekend after Fiat Chrysler (FCA) said his condition had worsened. "Mr. Sergio Marchionne was a patient at USZ. Due to serious illness, he had been the recipient of recurring treatment for more than a year," the hospital said in a statement. "Although all the options offered by cutting-edge medicine were utilized, Mr.

Fiat 500X scampers across the Alps

It's been a long time coming, but it's finally here. It's the new Fiat 500X: the rounder, somehow even more retro version of the Jeep Renegade. Joining an ever-expanding Cinquecento lineup alongside the 500, 500C and 500L, the new 500X is - to our eyes at least - the most handsome yet... better looking, at any rate, than the somewhat ungainly Mini Countryman. But despite its more fluid lines, the new 500X is barely any longer than the Renegade and only slightly less tall.
Taking the place of the previous Suzuki-based Sedici, Fiat will offer the new 500X in two versions (one more cosmopolitan, the other more rugged), with three transmissions, three traction systems and a whole mess of different engines. The list starts with a 1.4-liter turbo four with 140 horsepower and a 1.6-liter diesel with 120 hp, later to be joined by a 1.6-liter with 110 hp, a more powerful 1.4-liter turbo with 170 hp and finally the 2.4-liter Tigershark engine with 184 hp. Gearboxes will include 5- and 6-speed manuals and - in a Fiat first - a nine-speed automatic, driving the front wheels (with our without traction control) or all four.
Buyers will also be able to choose between 12 exterior colors, seven interior combinations and eight wheel designs ranging from 16 inches to 18, adding up to a long list of configurations to give the 500X the same kind of mass-customization options that have made its stablemate so successful. The 500X will be manufactured in Melfi, Italy, alongside its Jeep counterpart and will eventually reach over 100 markets around the world - including North America.