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Jeep first American carmaker to return to Tokyo show
Sat, May 23 2015Despite foreign-brand car sales in Japan declining six percent in the first four months of this year, Jeep sales are up 21 percent in the same period. That could explain why Jeep will be the first the US manufacturer to return to the Tokyo Motor Show after eight years away. Ford, General Motors, and Chrysler walked away during the global crisis that struck after the 2007 show. Jeep will be part of an eight-vehicle, four-brand showcase overseen by Fiat Chrysler Automobiles Japan, the local subsidiary. For the moment, it is the only US brand to sign up - neither Ford, GM, or even Chrysler are committed to attend. Stablemates Fiat, Alfa Romeo, and Abarth will be there, along with 13 other foreign makes, answering the "Technology & Fantasy" theme for this year's event. In total, organizers announced 15 brands from 14 Japanese manufacturers, and 27 brands from 17 foreign carmakers. The show opens to the public from Oct. 30 to Nov. 8. Related Video:
Federal grand jury issues subpoenas to U.S. FCA dealers
Wed, Jul 27 2016Despite an attempt to clarify and backtrack, it seems the investigation into Fiat Chrysler Automobile's false sales reporting is picking up steam. According to Automotive News, FCA dealers and regional offices have received subpoenas ordering them to supply documents and testimony to a grand jury in Detroit. Of course, the dealers are objecting to the request. They claim the subpoenas are too broad and would require them to hand over too much personal information, like personal phone numbers of dealer employees going back years. The group wants to make it clear that FCA has clarified its sales reporting and that the issue is with the manufacturer, not dealers. The dealers say that FCA employee records and testimony should be enough. It's rumored that a dealer group is the one that sparked the investigation in the first place. FCA confirmed on July 18 that it indeed was under investigation by a number of federal agencies. Although they've clarified their position regarding sales reporting, the fraud investigation continues full steam. Related Video:
Jeep and Ram could be spun off from FCA, says Marchionne
Thu, Apr 27 2017Jeep is surely the biggest single feather left in the cap of the Fiat Chrysler Automobiles portfolio. Under Sergio Marchionne's leadership, Jeep went from fewer than 500,000 annual sales in 2008 to 1.4 million in 2016, and is on track for 2 million by 2018. Add in the brand's legacy, status as one of the most recognizable nameplates in the world, and rabid fan base, and Jeep has extraordinary monetary value to its parent company. Investors and analysts have certainly noticed Jeep's inherent value. According to The Detroit Free Press, Morgan Stanley's Adam Jonas asked FCA chief Sergio Marchionne if he would ever consider spinning Jeep and Ram, FCA's dedicated truck brand, into a separate corporate entity, and he responded with a simple "Yes." Jonas estimated Jeep's worth in January of this year at $22 billion. Ram was valued at $11.2 billion. Marchionne has a history of spinning off brands while keeping them part of FCA's corporate umbrella. The most noteworthy example of this value maximization was with Ferrari, which now trades on the New York Stock Exchange and rakes in $3.4 billion in annual revenue and close to $435 million in net income, reports the Free Press. Marchionne still serves as chairman and CEO of Ferrari, and Fiat heir John Elkann owns 22 percent of the Italian marque's shares. Even if the offloading of Jeep and Ram into a separate entity would amount to little more than a profit-driven ownership change on paper, it would be huge news to the brands' loyal fanbases. In any case, such a move would likely take years to actually happen and probably wouldn't mean much at all to the products that Jeep and Ram produce. In other words, Jeep fans can keep the pitchforks in the shed ... for now. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.