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Trump tells Detroit 3 CEOs he wants more US jobs, calls environmentalists 'out of control'

As expected, President Donald J. Trump met with top executives from FCA, Ford, and General Motors this morning as part of a larger push to generate jobs in America. "I want new plants to be built here for cars sold here!", Trump said in a tweet ahead of the meeting. Not everything said in the meeting was made public, but the President later tweeted that he had a "Great meeting with automobile industry leaders." FCA CEO Sergio Marchionne, Ford chief Mark Fields, and GM's Mary Barra all echoed the positive vibes after the meeting. In a statement, Barra called the discussion "very constructive and wide-ranging," adding that it focused on "policies that support a strong and competitive economy and auto industry," and "that supports the environment and safety." That's noteworthy, because Trump is reported to have said "I am to a large extent an environmentalist. I believe in it, but it's out of control." Fields, speaking to reporters after the meeting, said, "We're excited about working together with the president and his administration on tax policies, on regulation and on trade to really create a renaissance in American manufacturing." The Ford CEO was specifically talking about Trump's withdraw from the Trans-Pacific Partnership. "We've repeatedly said that the mother of all trade barriers is currency manipulation, and TPP failed in meaningfully dealing with that, and we appreciate the president's courage to walk away from a bad trade deal," he said. Marchionne focused on American manufacturing in his statement after the meeting. "I appreciate the President's focus on making the US a great place to do business. We look forward to working with President Trump and members of Congress to strengthen American manufacturing." Perhaps equally as interesting as what was said and who was invited are what wasn't said and who wasn't invited. Trump has been very vocal about his distaste for US automakers' plants in Mexico, but no mention was made of the North American Free Trade Agreement by Trump or any of the Detroit CEOs after the meeting. We also have to wonder if Trump plans to meet with representatives from German, Japanese, and Korean automakers that have made massive investments into American plants and produce a large number of cars in this country. Related Video: News Source: Reuters, General Motors, Fiat Chrysler Automotive, Donald J.

Fiat Chrysler open to mergers, and PSA is looking for one

GENEVA — Fiat Chrysler (FCA) is open to pursuing alliances and merger opportunities if they make sense, but a sale of its luxury brand Maserati is not an option, Chief Executive Mike Manley said on Tuesday. "We have a strong independent future, but if there is a partnership, a relationship or a merger which strengthens that future, I will look at that," Manley told reporters at the Geneva Motor Show. Asked whether he would consider selling Maserati to China's Geely Automobile Holdings, as suggested by recent media reports, Manley said: "Maserati is one of our really beautiful brands and it has an incredibly bright future. ... No." FCA is often cited as a possible merger candidate. Bloomberg said this week that the Italian-American carmaker was attractive to France's PSA Group given its exposure to the U.S. market and its popular Jeep brand. The Detroit News' headline on the situation Friday read, "Fiat Chrysler CEO open to a deal as PSA circles" and stated that Manley's open-to-just-about-anything comments were aimed directly at PSA. Bloomberg said talks between the two were preliminary and said PSA chief Carlos Tavares has also contemplated mergers with General Motors or Jaguar Land Rover, which is losing money for Indian owner Tata. PSA has enjoyed a decade of turnaround and has $10.2 billion in net cash available. The maker of Peugeot, Citroen and DS, acquired Opel and Vauxhall in 2017 and made them almost instantly profitable. Manley, who took over after the death of Sergio Marchionne, said he currently had no news on possible deals. Manley also said the world's seventh-largest carmaker, which is lagging rivals in developing hybrid and electric vehicles, would take the least costly approach to comply with increasingly more stringent European emissions regulations. "There are three options. You can sell enough electrified vehicles to balance your fleet. Two: You can be part of a pooling scheme. Three is to pay the fines," he said. "I don't see a scenario when (carmakers) continue to subsidize technologies ... indefinitely." The carmaker had said last June it would invest 9 billion euros ($10.19 billion) over the next five years to introduce hybrid and electric cars across all regions to be fully compliant with emissions regulations. Asked about a 5-billion-euro investment plan for Italy FCA announced in November but then put under review, Manley said the plan had been confirmed as originally presented.

Fiat takes Tipo name out of mothballs for new sedan

Fiat has announced that it is bringing the Tipo name back. The nameplate, which was last used two decades ago, is set to be applied this time to a new four-door sedan. It will be available across Europe, Africa, and the Middle East – but looks unlikely to be offered alongside the 500 family here in America. Unlike many European sedans in its class, the Tipo has been designed from the get-go with a three-box shape, rather than as a hatchback adapted to carry a trunk. The result, Fiat says, is a more harmonious form than some of its targeted competitors. It will be offered with a choice of four engines – two burning gasoline and two diesel – producing between 95 and 120 horsepower, driving through either an automatic or manual transmission. The design was previewed in concept form as the Aegea Project at the Istanbul Motor Show this past May. We knew at the time that it would likely adopt a different name for production, and now that name has been confirmed. It will not only be assembled in Turkey – where Fiat carries out much of its manufacturing – but also had the bulk of its development work carried out there as well. The last time the Tipo name was used was between 1988 and 1995 for a small, boxy hatchback designed by Ercole Spada. That Tipo was eventually succeeded by the Bravo and Brava, which were ultimately replaced by the Stilo – only to be replaced by another Bravo hatchback in 2007. And now, of course, it's a Tipo again – progress. Related Video: Great anticipation for Fiat's new Compact Sedan: TIPO is its name Expectation for the name of Fiat's new Compact Sedan was high and the wait is now over. A name steeped in history for the new three-box sedan which was revealed in May at the Istanbul Motor Show as the first chapter of the 'Fiat AEgea' Project. Sales of the car will start in Italy in December and be gradually extended to the other EMEA region countries. TIPO: this will be the name sported on the livery of the new Compact Sedan in all EMEA region countries except for Turkey, where the project name turned out to be so successful that it was decided to keep it for the car as well. The symbolic name has been used by Fiat since its earliest days and is now making a comeback on a global model designed to tackle the challenges of the future.