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Share price falls on skepticism of Chrysler-Fiat five-year plan

Following this week's Fiat Chrysler extravaganza, where the Italian-American manufacturer announced its plans for the next five years, the Autoblog staff was cautiously optimistic of the company's future. Investors? Not so much.
Fiat saw its shares tumble 12 percent in Wednesday's trading, falling from 8.67 euros ($12.06 at today's rates) to 7.44 euros ($10.35) as of this writing, with blame partly going to the Italian half of the FCA marriage, which recorded a pretty significant drop in profits during the first quarter of this year.
The plan, which will cost around $77 billion over the next several years, is facing criticism from investors thanks in part to a 1.4-percent drop in Fiat's first-quarter profits, to 622 million euros ($862 million). That figure is also short of Bloomberg analysts' projections, which predicted $1.18 billion in profits before taxes, interest and one-time items.

Reid Bigland appointed CEO of Alfa Romeo, Maserati

There's been a big shakeup in Fiat Chrysler's leadership team, as head of US sales and FCA Canada CEO Reid Bigland will replace Harald Wester as the chief exec for Alfa Romeo and Maserati. Wester will retain his position as chief technical officer of FCA. Both men will hang onto their positions on FCA's Group Executive Council. The move is an interesting one considering the widely publicized issues at both Alfa and Maserati. Alfa Romeo's problems are almost too many to list. The brand has promised a full-scale return to the US market for more than a decade, but faced repeated delays. Its latest volume model, the Giulia, is being savaged by reviewers over quality issues, and the company has frequently pushed its upcoming CUV back. If that were the only problem, it'd be annoying, but according to Automotive News, Alfa's relaunch is also considerably over budget. Maserati is an entirely different can of worms. Alongside Alfa, it's been stung by a slow Chinese market. Profits are down, according to Automotive News, and it's been widely rumored that the company will delay its next sports car, the Alfieri, until 2018 – it was previously promised for this year. Meanwhile, two of its three other models, the Quattroporte and GranTurismo, are dangerously long in the tooth, and the Levante is still months away from US sales. Can Bigland sort these issues out? Maybe. As Sergio Marchionne said in his official statement, "[Bigland] has an extraordinary record of growing sales and market share in the US and Canada over the last 7 years at FCA, including leading the growth and positioning of the Ram and Dodge brands for part of that time."

Alfa Romeo Giulia SWB Zagato briefly teased, could be a coupe

Earlier this month, Alfa Romeo and Zagato teased the upcoming Alfa Romeo Giulia SWB Zagato with a single image of an unbroken LED taillight outlining what looked like a Kamm-back rear end. Zagato recently published a few more teasers to its Instagram page, but someone might have pressed the Send button too soon — the video and images are gone from the source. No matter, because this is the internet. The new shots hint at something that could justify Alfa Romeo boss Jean-Philippe Imparato's assessment that the vehicle will be "very exciting, very selective, and very expensive." The image with the carbon-backed driver's seat contains a new rear window shutline and a crossbar. The redrawn glasshouse leads us to believe this will be a coupe, making the most of that Short Wheelbase designation. Some have called the crossbar a roll cage, but it looks to us like the kind of brace used in some cars that omit their rear seats, like the original Bentley Continental GT Supersports. The engine shot doesn't give anything away except the Quadrifoglio badge. The twin-turbocharged 2.9-liter V6 could come with the same 505 horsepower and 442 pound-feet of torque as the Giulia Quadrifoglio, it could be uprated to the 532 hp and 442 lb-ft of the special edition Giulia GTAm, or, as buyers would hope, it could go beyond that. We'd expect the output to be sent through Alfa's eight-speed automatic transmission to the rear wheels through a limited-slip differential.  Zagato standards like new mesh vents and a vented hood make their appearances elsewhere. The grille gets printed with a stylized version of the red cross and crowned viper in Alfa Romeo's logo between the tri-section headlights that should debut on the facelifted Giulia. In back, a closer shot of the taillights gives away segments between LEDs, so the rear end won't be a continuous clamshell piece like the vintage Giulia TZ and Giulia TZ2. Detail bits like a carbon fiber front splitter and another take on the five-leaf-clover wheels from the Giulia GTA will make for dark and shiny jewelry.  The Giulia TZ debuted in 1963, the Giulia SWB Zagato will be the 50th birthday present to the original. Market launch is rumored to come in March next year, an official debut should come not long before that.