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Hyundai reportedly eyeing a takeover of FCA

The CEO of Hyundai Motor Group plans to launch a takeover bid for Fiat Chrysler ahead of the planned retirement of FCA Chief Executive Sergio Marchionne next spring, Asia Times reports, citing unnamed sources close the situation. CEO Chung Mong-koo will wait for an expected decline in the Italian-American automaker's shares to make his move. Hyundai isn't commenting on the rumors, unsurprisingly, but would presumably stand to benefit by gaining Chrysler's dealer network and the lucrative Jeep brand and probably Ram, too. An FCA spokeswoman in Auburn Hills told Autoblog the company had no comment. But like any story about a possible takeover, this one gets complicated with inside players — and President Trump's posturing on international trade issues. FCA has been the subject of takeover interest before, including by Hyundai, but Marchionne has denied a merger was likely, instead saying his company was in talks with the Korean automaker about a technical partnership. In 2015, Marchionne lobbied General Motors hard, but unsuccessfully, for a tie-up; he was also spurned by Volkswagen. Marchionne had repeatedly stressed the need for car companies to merge to decrease overcapacity and better afford the massive investments needed for things like autonomous and electric vehicles. In the case of Hyundai's reported interest, there is a cast of characters. One is Paul Singer, principal of the hedge fund Elliott Management, an activist shareholder with a $1 billion stake in Hyundai and a major owner of equities in Fiat's home turf of Italy. Then there is FCA Chairman John Elkann, who reportedly disagrees with Marchionne on a successor as CEO of Fiat Chrysler but has little interest in running the company himself and would prefer a merger. Compounding things is what the Trump administration would think of a further blending of Fiat Chrysler's international DNA, though a deal with a Korean automaker is thought to be more palatable to the president and members of Congress than by a Chinese conglomerate like Great Wall Motor, which has confirmed its interest in taking over all or parts of FCA. The full Asia Times piece is here. Related Video: News Source: Asia TimesImage Credit: REUTERS/Rebecca Cook Chrysler Fiat Hyundai Jeep RAM Sergio Marchionne FCA merger takeover

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

Marchionne assures Fiat jobs will stay in Italy, amid Chrysler merger talks

Even though Fiat CEO Sergio Marchionne has repeatedly said he won't pick up, leave Italy and take his Fiat factories with him, his occasional pointed comments about the challenges of running operations in that country has worried Italian politicians dealing with government, economic and labor-force seizures the past few years. After Fiat Industrial announced it was moving its headquarters to London and it was rumored that the car division's HQ would move to Auburn Hills, MI after the merger with Chrysler, it was worried that more Italian jobs would disappear.
Industry Ministry Flavio Zanonato sought assurances from both Marchionne and Fiat chairman John Elkann that they would "commit to the country," and it appears those assurances have been given. Unemployment in Italy is at 20-year-highs and car sales are at 20-year-lows, but Marchionne said "We have confirmed our commitments for Italy" and the company will hold steady on employment. The nation and the corporation said they would work together to "relaunch Italy's car market," although it's not clear what either of them will be able to do beyond wait it out. At the very least, Fiat's stance means there's one less ball the country's politicians have to juggle.