Fiat Convertible, page #12

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FCA reportedly joins the crowd skipping this year's Paris Motor Show

It's likely FCA vehicles will not be seen at the Paris Motor Show this year. Automotive News is reporting that Fiats, Alfa Romeos, Jeeps and Abarths will not be a part at the show, based on information circulating in the French media. There's a possibility that Maseratis will be displayed at a special section dedicated to upscale cars, but Maserati too will not have a show stand of its own. Ferrari will have a stand, but as it happens, the supercar maker has been a standalone brand since 2015. Skipping the Paris show follows FCA's decision not to take part in the Frankfurt show last year, and the two shows alternate as the biggest autumnal automotive show in Europe. Volkswagen will also not attend the event, and neither will Ford, Nissan or Infiniti. This has become a problem for car shows worldwide, including Detroit's North American International Auto Show. FCA has not released a formal statement about the matter, but a FCA spokesman, quoted by the French magazine L'Argus, reportedly said that the sales and publicity brought in by the show stand would not justify the costs of attending. The news mirrors Volvo's newly announced plan to not take part at the next Geneva Motor Show, but to arrange "bespoke activities" to introduce its cars instead. Related Video:

Feds accuse Fiat Chrysler, UAW of conspiring to break labor laws

DETROIT — Top officials of Fiat Chrysler Automobiles and the United Auto Workers union conspired to violate U.S. labor laws, federal prosecutors alleged in a court document, saying a former executive at the automaker knew bribes paid to union leaders were designed to "grease the skids" in labor negotiations. U.S. Justice Department officials for the first time called the company and the union "co-conspirators" in a document related to a guilty plea agreed by former Fiat Chrysler director of employee relations Michael Brown. The document was filed with the U.S. District Court in Detroit on May 25. Its contents were reported by the Detroit News on Wednesday. Brown pleaded guilty to one count of concealing a felony. The plea agreement stated that he knew Fiat Chrysler executives authorized $1.5 million in improper payments and travel, liquor, cigars and other goods for UAW officials who served on the union's negotiating committee. Prosecutors say FCA executives paid UAW representatives to influence union business. including collective bargaining on contracts ratified in 2011 and 2015. The government contends money was run through the UAW-Chrysler National Training Center, via false charitable donations and training center credit cards. Fiat Chrysler Chief Executive Officer Sergio Marchionne has said in the past that the misconduct "had nothing whatsoever to do with the collective bargaining process" and the "egregious acts were neither known to nor sanctioned" by the company. Fiat Chrysler had no further comment Monday. Outgoing UAW President Dennis Williams told union leaders at a conference in Detroit on Monday "our leadership team had no knowledge of the misconduct — which involved former union members and former auto executives — until it was brought to our attention by the government." Brown pleaded guilty on May 25, according to court documents, and will be sentenced on Sept. 20. Five other people have pleaded guilty in the government's ongoing investigation into the UAW and Fiat Chrysler, including the wife of a late UAW official, two other former UAW employees, former Fiat Chrysler vice president Alphons Iacobelli and another former Fiat Chrysler employee. Reporting By David Shepardson and Nick CareyRelated Video: Government/Legal UAW/Unions Chrysler Dodge Fiat Jeep RAM FCA

FCA is setting a five-year strategy: Here's how the last one played out

We're slightly more than four years removed from Sergio Marchionne last five-year plan for FCA, a tell-all where the Italian-American automaker divulged its plans for the 2014 through 2018 model years. It was a grand affair, where Sergio told FCA investors that all was right in Auburn Hills, Alfa Romeo and Maserati were making comebacks, and the fifth-gen Dodge Viper received a mid-cycle refresh. You can read every last one of those past predictions right here. We're on our way to Europe to see Sergio's sequel, coming out Friday straight from FCA's Italian headquarters. (Bloomberg reports a plan to expand Jeep and Ram globally, combine Alfa Romeo and Maserati into a single division for an eventual spinoff, and downsizing Fiat and Chrysler. Also, EVs.) But before we arrive in Italy and find out exactly what Marchionne has planned for 2019 through 2023 as his last act as CEO, let's take a minute to tally up the results of his last term based on the same scoresheet we used in 2014. Now, we're only five months into 2018, so much of this — including vehicles like the Ram HD and Jeep Grand Wagoneer — could still debut this year. For those, we'll mark things TBD. We're not going to draw any conclusions or make any objectionable remarks. We're simply going to let the stats speak for themselves.

For his last act, Marchionne will outline an EV/hybrid roadmap this week

MILAN/LONDON — Fiat Chrysler (FCA) boss Sergio Marchionne is expected to outline new plans for electric and hybrid cars in a strategy presentation on Friday, aiming to ensure the world's seventh-largest carmaker remains in the race in the absence of a merger. The 65-year-old will present FCA's strategy to 2022, his final contribution to the company he turned around and multiplied in value through 14 years of canny dealmaking. After failing to secure a tie-up he said was necessary to manage the costs of producing cleaner vehicles, Marchionne needs to show the group can keep churning out profits on its own, even as emissions rules tighten, SUV competition intensifies and worries around his succession abound. Marchionne had long refused to jump on the electrification bandwagon, saying he would only do so if selling battery-powered cars could be done at a profit. He even urged customers not to buy FCA's Fiat 500e, its only battery-powered model, because he was losing money on each sold. But Tesla's success and the need to comply with tougher emissions rules have forced Marchionne to commit to what he calls "most painful" spending. "FCA is way behind rivals in terms of hybrid and electric vehicles and they need to hit the accelerator to convince investors they can close that gap," said Andrea Pastorelli, a fund manager at 8a+ Investimenti. Germany's Volkswagen, Daimler, BMW and U.S. rivals GM and Ford have committed to spending billions of euros each in coming years to try produce profitable cars powered by cleaner fuels. FCA needs to present a clear roadmap, just like Volvo Cars, which ditched diesel from its best-selling XC60 SUV, launched a new electric brand and pledged to shift all brands to hybrid by 2019, a banking source close to FCA said, noting: "The tech divide determines winners and losers in the industry." Marchionne has already said half of the wider FCA fleet will incorporate some elements of electrification by 2022, while luxury marque Maserati will spearhead FCA's electrification drive by making all new models due after 2019 electric. But its plans remain vaguer and less advanced than most big rivals and some investors wonder about the capital required to make vehicles compliant, and what share of spending can go to electrification given FCA's numerous demands.

CEO Sergio Marchionne curses FCA spokesman for emissions cheating denial

WASHINGTON — Fiat Chrysler Chief Executive Officer Sergio Marchionne reprimanded the company's top U.S. spokesman for issuing press releases about Fiat's vehicle emissions practices days after Volkswagen's disclosure in September 2015 that the German automaker had used illegal software to evade emissions tests, documents released Monday show. Lawyers suing Fiat Chrysler Automobiles in a securities case filed excerpts of an email from Marchionne to Gualberto Ranieri, then the company's U.S. spokesman, in a filing in federal court in New York criticizing him for saying that the company does not use defeat devices. "Are you out of your goddam mind?" Marchionne wrote in an email on Sept. 22, 2015, adding that Ranieri should be fired and calling his actions "utterly stupid and unconscionable." The company said in a statement on Monday it was "understandable that our CEO would have a forceful response to any employee who would opine on such a significant and complex matter, without the matter having been fully reviewed through its appropriate channels." The statement added that Ranieri's comments came just days after VW's emissions issue became public "and before a comprehensive internal review and discussions with component suppliers was possible." Fiat Chrysler was sued in 2015 along with Marchionne and other executives over claims it defrauded shareholders by overstating its ability to comply with vehicle safety laws. An amended version of the complaint filed in 2017 added claims about its compliance with emissions laws. The shareholders accused the defendants of inflating Fiat Chrysler's share price by hundreds of millions of dollars from October 2014 to October 2015 by downplaying safety concerns. They said the shortcomings materialized in 2015 when the automaker was fined $175 million by the National Highway Traffic Safety Administration, and took a roughly $670 million charge for recalls. Plaintiffs filed the excerpts seeking approval to take up to 40 additional depositions, including Marchionne's. The U.S. Justice Department sued Fiat Chrysler in May 2017, accusing it of illegally using software to bypass emission controls in 104,000 diesel vehicles sold since 2014. Fiat Chrysler has held numerous rounds of settlement talks with the Justice Department and California Air Resources Board to settle the civil suit, including talks as recently as earlier this month. It faces a separate criminal probe into the matter.

Fiat Chrysler profit up as it closes in on retiring its debt

MILAN — Fiat Chrysler Automobiles reduced its debt by more than expected in the first quarter, putting the carmaker well on course to become cash positive later this year. Chief Executive Sergio Marchionne expects to cancel all debt during 2018 — possibly by the end of June — and generate around 4 billion euros ($5 billion) in net cash by the end of the year. Marchionne has said that forecast does not include any one-off measures, nor the impact of the planned spinoff of parts maker Magneti Marelli, which he hopes to execute by early 2019. The world's seventh-largest carmaker said on Thursday net debt had fallen to 1.3 billion euros ($1.6 billion) by the end of March, well below a consensus forecast of 2.6 billion euros in a Thomson Reuters poll of analysts. FCA said capital spending fell 900 million euros in the quarter due to "program timing," which analysts said implied higher investments for the rest of the year. The Italian-American group said first-quarter operating profit rose 5 percent to 1.61 billion euros, below a consensus forecast of 1.74 billion, as a weaker performance from its North American profit center weighed. Shipments there were higher due to the new Jeep Wrangler and Compass models. But currency moves hit revenues and earnings, and costs related to new product launches added to the pressure. FCA's shift to sell more trucks and SUVs boosted margins yet again in North America to 7.4 percent from 7.3 percent in the same quarter a year ago, although they were down from the 8 percent recorded in the preceding three months. Marchionne, preparing to hand over to an internal successor next year, is close to his goal of ending a margin gap with larger U.S. rivals General Motors and Ford. The 65-year-old has said becoming debt free and being able to compete on a par with U.S. peers would mean FCA no longer needed a partner to survive and could well succeed on its own. The CEO has previously said tying up with another carmaker would help to meet the huge costs in an industry investing in electric vehicles and automated driving. FCA shares fell immediately after the results, but recovered to trade up 3 percent at 19.71 euros by 1150 GMT, outperforming a 0.4 percent rise in Europe's blue-chip stock index. ($1 = 0.8214 euros) Reporting by Agnieszka FlakRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

New auto loans could soon extend out to 84 months

Cars and trucks are more expensive than ever before. In order to boost sales and help consumers afford new vehicles, automakers are offering longer and longer terms for auto loans. This past week, Bloomberg reported that FCA's Ram Trucks division is currently offering the longest loans. Some stretch to 73 months. Jeep, Fiat and Chevy aren't far behind. More noteworthy is that we'll likely soon see lenders moving from 73-month to 84-month loans. That's seven years worth of interest. More than two-thirds of US auto sales come from light trucks like the Ford F-150, Chevy Silverado and Ram 1500. The average transaction price of a new vehicle is well over $30,000. It's not difficult to spec out a heavily-optioned truck up to $60,000. Vehicles depreciate from the moment they roll off a dealer lot, and these six or seven-year loans could hurt consumers and lenders both in the long run. The U.S. Senate voted last week to kill rules that would prevent discriminatory auto lending. These Obama-era guidelines were meant to curtail lenders who offered higher loans based on race, religion, sex or national origin. Related Video: News Source: Bloomberg Chevrolet Fiat RAM Car Buying car loan car values

Junkyard Gem: 1974 Fiat 124 Sport Spider

Fiat sold the Pininfarina-designed 124 Sport Spider in North America for the 1966 through 1980 model years, followed by a few years of importation by Malcolm Bricklin as the Pininfarina Spider. During the 1970s, these cheap and lightweight sports cars sold well, and enough of them still await oft-postponed restorations that plenty of them still show up in wrecking yards to this day. Here's a rusty but complete '74 in a Denver-area self-service yard. This wouldn't even count as real rust in Maine or Michigan, but it's a death sentence for a Denver Spider. According to the emissions-test sticker, it was driving in Colorado as recently as 1994. The inherent coolness of an Italian convertible keeps these cars around even after they break (which happens with great frequency), but their affordability makes owners reluctant to spend real money on fixing problems. This means that many thousands of 124 Sport Spiders sit in driveways, yards, and garages around the continent, awaiting repairs that (in most cases) will never come. Eventually, a spouse or landlord or homeowners' association has had enough, and the old Fiat project takes that final, sad tow-truck trip to the graveyard. The 1,756cc Twin Cam engine in this car was rated at 92.5 horsepower, which was decent power for a 2,128-pound car in 1974. The current Miata-based 124 Spider has 160-164 horses and weighs just a few hundred pounds more, but expectations have changed since the dark days of the Malaise Era. The 124 Sport Spider's main rival in North America was the venerable MGB. Both cars were notorious for reliability problems, but so what? Commuting in an affordable little European convertible was way more fun than chugging around town in a Corolla or Pinto. In 1974, the 124 Spider had a $4,395 price tag (about 23 grand today), and the MGB cost a mere $3,925. The MGB was heavier and had just 78.5 horsepower from its sturdy-but-primitive pushrod engine (yes, British Leyland claimed the half-horse instead of rounding down), but was much more solidly built; if not for the flaky electrical system made by The Prince of Darkness, the MGB would have obliterated the 124 Spider in the dependability department. I always grab these beautiful metal-and-glass warning lights when I find them in junked Fiats; I have installed them in everything from Impala instrument panels to homemade car-parts boomboxes. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Fiat gets into the classics game with 'Reloaded by Creators' program

Classic vehicles help modern buyers make new connections to a carmaker's modern offerings. That's why in little more than a month we've seen Jaguar announce a continuation run of the D-Type, Porsche get a show at the Petersen Museum in Los Angeles, Land Rover plan to restore a Series I, and Jay Leno celebrate the 1942 Dodge Carryall. Fiat Chrysler already has a heritage division, but the vintage department takes a new step into its history with the "Reloaded by Creators" service. Said to be inspired by retail programs at museums, Reloaded by Creators will see FCA Heritage source and buy noteworthy classics from the Abarth, Alfa Romeo, Fiat, and Lancia brands, restore them to original spec, then sell them to collectors. When Roberto Giolito, head of FCA Heritage, broke the news at Retromobile in Paris, he also revealed the first five offerings: three "ultimate classics" in the Alfa Spider IV serie (1991), Lancia Fulvia Coupe Montecarlo (1973), Spidereuropa Pininfarina (1981), and two custom cars in the Alfa Romeo SZ (1989) and Lancia Appia Coupe (1959). The ultimate classics represent the last of their kind to be built, not necessarily according to model year, but with respect to design and engineering - no major model changes followed. The Lancia Fulvia Coupe ceased production in 1976; the limited edition 1973 Montecarlo model celebrated the car's victory in the 1972 Montecarlo Rally and still wears the original license plates. The 1981 Spidereuropa Pininfarina comes from the beginning of the end of production; after building the Fiat 124 Sport Spider for US-only sale from 1975 to 1983, Pininfarina resumed manufacture in Europe in 1982 and bestowed the new name. The Alfa Spider went out of production in 1993, the 1991 Series IV example for sale here has been in FCA's collection since it was built, used for technical testing. As for the custom cars, Lancia built a variant of its third-generation Appia as a coachbuilt chassis. Pininfarina bodied the 1959 model for sale here, and Fiat showed it first in Paris. Fiat used the funky, Zagato-designed, thermoplastic-composite-bodied, 1989 Alfa Romeo SZ for testing at the carmaker's Balocco circuit. Only around 1,000 SZ models emerged from the factory during a two-year production run. Each vehicle will come with a certificate of authenticity and be guaranteed by FCA, plus be featured on the FCA Heritage site.

All 2018 Fiat 500s will get turbocharged engines

For 2018, every basic Fiat 500 is getting a healthy horsepower increase thanks to a standard turbocharged 1.4-liter four-cylinder making 135 horsepower and 150 pound-feet of torque. That's a big increase over the current model's naturally aspirated 1.4-liter engine that makes just 101 horsepower and 97 pound-feet of torque. The newly available turbo engine can also be fitted to either a 5-speed manual or a 6-speed automatic. Fiat 500 fans may also find the new turbo engine's specifications familiar, and that's because they're identical to the old Fiat 500 Turbo that was introduced a few years ago. That car was introduced as a sort of happy medium between the standard 500 and the Abarth. The Turbo disappeared for a little while, but will be resurrected as 2018's entry model. Fiat also says the new turbocharged 500 Pop and Lounge (the basic models) get sportier suspension and brakes than the old one, again similar to the discontinued 500 Turbo. The exterior also becomes more aggressive on both trim levels looking a bit like a toned-down Abarth. And if you've picked up on the theme here, the exterior looks much like the old 500 Turbo's. Mind you, we're not complaining about Fiat bringing back the Turbo as the entry-level 500. It brings the car closer in parity to the base Mini Cooper, effectively matching it for power, and coming up just 10 pound-feet of torque short in the twist department. And while we didn't find the old 500 Turbo to be nearly as fun as the Abarth, the extra power did make for a better basic Fiat – and so should the 2018s. Related Video: Featured Gallery 2018 Fiat 500: Chicago 2018 View 12 Photos Related Gallery 2018 Fiat 500 View 14 Photos Image Credit: Live photos copyright 2018 Drew Phillips / Autoblog.com Chicago Auto Show Fiat Convertible Hatchback Economy Cars Performance turbo 2018 Chicago Auto Show fiat 500 turbo