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Auto Mergers and Acquisitions: Suicide or salvation?

We love the Moses figure. A savior riding in from stage right with the ideas, the smarts, and the scrappiness to put things right. Alan Mullaly. Carroll Shelby. Lee Iacocca. Andrew Carnegie. Steve Jobs. Elon Musk. Bart Simpson. Sergio Marchionne does not likely view himself with Moses-like optics, but the CEO of Fiat Chrysler Automobiles recently gave a remarkable, perhaps prophetic interview with Automotive News about his interest and the inevitability of merging with a potential automotive partner like General Motors. Marchionne has been overtly public about his notion that GM must merge with FCA. For a bit of context, GM sold 9.9 million vehicles in 2014, posting $2.8 billion in net income, while FCA sold 4.75 million units and earned $2.4 billion in net income, painting a very rosy FCA earnings-to-sales picture. But that's not the entire picture. Most people in the auto industry still remember the trainwreck that was the DaimlerChrysler "merger" written in what turned out to be sand in 1998. It proved to be a master class in how not to fuse two companies, two cultures, two continents, and two management teams. Oh, it worked for the two individuals at both helms pre-merger. They got silly rich. And the industry itself was in a misty romance at the time with mergers and acquisitions. BMW bought Rolls-Royce. Volkswagen Group bought Bentley, Bugatti, and Lamborghini, putting all three brands into their rightful place in both products and positioning. No marriages there, so no false pretense. Finally, Nissan and Renault got married in 1999. A successful marriage requires several rare elements in this atmosphere of gas fumes and power lust. But a successful marriage requires several rare elements in this atmosphere of gas fumes and power lust, the principle part being honesty. Daimler and Chrysler lied to each other. The heads of each unit, the product planners, and finance all presented their then-current and long-range forecasts to each other with less-than-forthright accuracy. Daimler was the far greater equal and no one from the Chrysler side enjoyed that. The cultures were entirely different, too, and little was done to bridge that gap. Which brings me back to the present overtures by Marchionne to GM. "There are varying degrees of hugs," Marchionne stated in the Automotive News piece. "I can hug you nicely, I can hug you tightly, I can hug you like a bear, I can really hug you." Seriously?

Chrysler's Jefferson North plant builds 5-millionth SUV [w/video]

Chrysler's Jefferson North Assembly Plant opened in 1992 for production of the first Jeep Grand Cherokee, but in the subsequent years, the Detroit plant has gone on to produce some of the company's biggest SUVs including the Jeep Commander and Dodge Durango. Earlier this week, the plant produced its five-millionth SUV, which, fittingly, was a Grand Cherokee.
Celebrating the plant's five-millionth unit, the silver 2014 Grand Cherokee was promptly donated to the USO. In addition to this milestone SUV, Chrysler also had a near-perfect 1993-95 ZJ Grand Cherokee on hand for the photo op. Scroll down for the Chrysler press release as well as a video showing some of the speeches from the celebration.

2013-14 Dodge Viper recalled over faulty door handles

The 2013-14 Dodge Viper is getting a voluntary recall affecting 1,762 cars worldwide to replace their door-handle assemblies. Of the affected vehicles, FCA US reports there are 1,451 in the US, 160 in Canada, 17 in Mexico and 59 of them outside of NAFTA. After receiving three reports of doors either not closing or opening while driving a low speeds, FCA US engineers found a new sealant from a supplier didn't provide sufficient moisture protection to the electronic switches for the door latches. If the parts get wet, this can potentially cause a short circuit. The automaker is quite clear that are no reports of accidents of injuries from this problem. As always, the recall repairs will be done at no cost to owners, and FCA US will be getting in touch with customers soon about the problem. Related Video: Statement: Door-handle Assemblies April 9, 2015 , Auburn Hills, Mich. - FCA US LLC is voluntarily recalling an estimated 1,762 cars globally to replace their door-handle assemblies. FCA US launched an investigation after the Company received three warranty claims linked to doors that failed to close or opened inadvertently while vehicles were moving at low speed. The Company is unaware of any related injuries or accidents. Engineers determined a sealant, newly adopted by a supplier, provided inconsistent moisture protection to the electronic switches that control the door latches. Switches exposed to moisture may short-circuit. Affected are approximately 1,451 model-year 2013-14 Dodge Viper SRT cars in the U.S.; 160 in Canada; 17 in Mexico and 59 outside the NAFTA region. Affected customers will be notified and advised when they may schedule service, which will be performed at no cost. Customers with questions may call the FCA US Customer Information Center at 1-800-853-1403.