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Ram and Jeep Wrangler drive Fiat Chrysler profits up 61 percent

MILAN — Italian American automaker Fiat Chrysler says fourth-quarter net profits rose by 61 percent, powered by North American sales of the all-new Ram 1500 and Jeep Wrangler. Fiat Chrysler Automobiles on Thursday reported quarterly net profits of 1.29 billion euros ($1.46 billion), compared with 804 million euros in 2017. Revenues rose 6 percent to 30.6 billion euros. North America profits grew by 19 percent to 6.2 billion euros, accounting for the lion's share of the automaker's global profits. The carmaker continued to have trouble in Asia, which swung to a loss due to market weakness in China and more competition in Fiat Chrysler's core SUV market. Europe also lost ground, with profits dipping 44 percent on lower shipments and weaker pricing, while Latin America more than doubled. Based on the company's earnings last year, 44,000 unionized U.S. auto workers will get $6,000 profit-sharing checks. That's $500 more than in 2017, but smaller than U.S. rivals Ford and General Motors. On Wednesday, GM announced that workers would get $10,750, while Ford workers will get $7,600.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Stellantis to halt production at Melfi, Italy, car plant in April, union says

MILAN — Carmaker Stellantis will halt production at its plant in Melfi, southern Italy, April 2-12 because of low demand triggered by the COVID-19 crisis, the UILM union said on Monday. Production at the plant, where the world's fourth largest automaker makes Jeep Renegade and Compass models and the Fiat 500X compact SUV, has been repeatedly disrupted due to weak demand and semiconductor supply shortages. The FIM CISL union said last week the firm was considering permanently closing one of its two production lines at the Melfi plant to address excess capacity in Italy. European car registrations fell 23% year on year in the first two months of this year, according to industry data, as protracted coronavirus lockdowns and consequent uncertainty keep impacting spending decisions among families and businesses. UILM's Gianluca Ficco said on Monday the company told unions the latest Melfi production freeze was specifically due to low demand and not a result of the global chip shortage. A spokesman for Stellantis confirmed the plant would be closed in that April 2-12 period. All of Melfi's more than 7,000 workers would be put on a furlough scheme for the period.  

Fiat to reveal new 500 on July 4

Fiat has announced that it will reveal a new 500 on July 4 – now just a few weeks away - and just one day after we saw spy shots of the prototypes undergoing testing. The date is not only significant for the American side of the Fiat Chrysler Automobiles group, but for the Italian one as well. In 1957, Fiat rolled out the original Cinquecento in Turin on July 4. Of course a lot has happened since then, and several generations of the 500 have followed. The current model was introduced in 2007, and has since reached over 100 markets around the world with over 1.5 million sold. Since the introduction of the current 500 hatchback, Fiat has rolled out the 500C with an opening roof panel, the 500L for hauling families, and the 500X crossover – to say nothing of the Abarth performance models. As the 500L and 500X aren't directly related to the hatchback, however, they'll likely carry over in their current form after the three-door model is replaced next month. Fiat will be introducing the New 500 on 4 July The countdown to 4 July, the birthday of the iconic 500, has started. It is an important anniversary and this year there will be a great surprise for the millions of fans all over the world who drive it, want it or just admire it. The New 500 is coming and it will be revealed precisely on 4 July, during an unforgettable event. Born in Turin on 4 July 1957, the 500 was revamped in 2007 and since then it has offered the public something new every year. Marketed in more than 100 countries in the world and with more than 1.5 million registered vehicles, the iconic Fiat never ceases to amaze and surprise people with its countless versions and interpretations. Turin, 10 June 2015 Related Video: