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Marchionne may stay with FCA until 2020

We might get to see Sergio Marchionne and his vast array of sweaters in the auto industry for even longer than expected. The FCA CEO suggested last year that he would retire from the automaker when its current five-year plan was complete in 2018. Now, he has tentatively extended that point out to at least 2020. "I can do this for another five years if you push me, right? Beyond that, I ain't gonna do it, and I don't want to," he said to Automotive News. That would give Marchionne a 16-year career at the top from joining Fiat in 2004 to possibly leaving FCA in 2020. Although, take the CEO's statement with a grain of salt because he has made multiple statements about the timing for his retirement. In 2012, Marchionne said he would only remain in charge until 2015, which is, well, now. Those five years might also go quite quickly because Marchionne is a busy guy with the Ferrari IPO, the attempted merger with General Motors, implementing FCA's five-year plan, and many other projects. He's already considering the next CEO, though. "My purpose in life is to find the Kuniskises of the world, the Manleys, the Biglands, the Palmers," Marchionne said to Automotive News, referencing the heads at Dodge, Jeep, FCA North America, and the company's chief financial officer, respectively. "I told them, 'One of you is going to do what I do one day. I don't know who that is, but one of you is going to do it.'" News Source: Automotive News - sub. req.Image Credit: Paul Sancya / AP Photo Chrysler Dodge Fiat Jeep Sergio Marchionne FCA fca us Mike Manley reid bigland tim kuniskis

The company formerly known as Chrysler is now Stellantis

Introducing Stellantis. Talk to your doctor before using Stellantis as side effects may include model redundancy, the overwhelming urge to apply Dodge badges to Peugeot crossovers, and weak stream. Honestly, how can you not poke just a little fun at the name chosen for the new multi-national corporation that will result once the merger of Fiat Chrysler Automobiles (FCA) and Peugeot S.A. (Groupe PSA) is completed in the first quarter of 2021. According to the press release, "Stellantis is rooted in the Latin verb 'stello' meaning 'to brighten with stars' ... The name's Latin origins pay tribute to the rich history of its founding companies while the evocation of astronomy captures the true spirt of optimism, energy and renewal driving this industry-changing merger." The "Latin origins" of the French company Peugeot and the Italian Fiat are obvious. Chrysler, on the other hand, was founded by a man born in Kansas whose father was a Canadian-American of German and Dutch ancestry (thanks Wikipedia). His mother was also of German ancestry. So yeah, the name Stellantis is really only related to the Peugeot and Fiat bits. The Americans are just along for the ride with their Jeeps and Hellcats.  And it should be noted that we will henceforth never write "Stellantis" in ALL CAPS as the corporation does because it's silly and we don't do it for Hummer, Mini, etc. Admittedly, Fiat could go either way since it's literally an acronym, but Fiat doesn't even bother doing that any more.   The name Stellantis will only be applied at the corporate level, so effectively in place where you previously would've said Fiat-Chrysler or FCA. There won't be a Stellantis Challenger.  We produced a list last year of all the cars that are currently made by the brands within Stellantis. Here's also a list of all the names that the company we generically know as "Chrysler" has gone through over the years. Chrysler Corporation (1925-1998) DaimlerChrysler (1998-2007) Chrysler LLC (2007-2009) Chrysler Group (2009-2014) Fiat Chrysler Automobiles (2014-2021) Stellantis  There have also been secondary corporate entities. There was Diamond Star Motors from 1985 to 2015, a manufacturing joint venture between Mitsubishi and whatever Chrysler was called at the time. It resulted in the Plymouth Laser, a randomly selected example pictured above, amongst other automotive diamonds.

DoJ fines Japanese parts firms $740M in massive automotive price-fixing scandal

Nine Japanese suppliers have pleaded guilty in US court over charges of price fixing in the automotive parts industry, resulting in the Department of Justice doling out a total of $740 million of fines, according to a report from Bloomberg. The scandal, which has resulted in General Motors, Ford, Toyota and Chrysler spending up to $5 billion on inflated parts and driving up prices on 25 million vehicles has sent the DoJ hustling into investigations. "The conduct this investigation uncovered involved more than a dozen separate conspiracies aimed at the U.S. economy," Attorney General Eric Holder (pictured above) said during yesterday's press conference.
As the investigation stands, the DoJ has issued $1.6 billion in fines against 20 companies and 21 individual executives, with 17 of the execs headed to prison. Deputy Assistant Attorney General Scott Hammond said, "The breadth of the conspiracies brought to light today are as egregious as they are pervasive. They involve more than a dozen separate conspiracies operating independently but all sharing in common that they targeted US automotive manufacturers."
Big-name suppliers indicted in the investigation include Mitsubishi Electric, Mitsubishi Heavy Industries, Hitachi Automotive and Mitsuba Corporation. A list of fines and other corporations named in the investigation is available at Bloomberg.