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FCA chairman confirms Marchionne email to Barra

FCA CEO Sergio Marchionne is apparently backing up his talk about the need for consolidation in the auto industry with quite a bit of action. One recent report claimed that he even emailed General Motors CEO Mary Barra to make a deal. FCA chairman John Elkann has now confirmed that the correspondence actually happened, and that it wasn't a one-off occurrence. "It was not the only email, it was not the only conversation," Elkann (pictured above with Marchionne) said, according to Reuters. He is a member of the Agnelli family that has a controlling stake in FCA's stock and is supporting the idea of a merger. The automaker is willing to "act with determination if there are the prerequisites to do something that makes sense," Elkann said. Marchionne has been pushing for industry consolidation for months. While GM has been the main target of late, Ford was also rumored as a partner under consideration. In the past, there have also been reports of FCA negotiating with Volkswagen Group and PSA Peugeot Citroen for mergers, as well. According to Reuters, part of the reason for all of this effort might be as a way for Marchionne to ensure his legacy, though he's denied that. He's reportedly considering retiring after 2018. In his opinion, consolidation is needed because automakers are investing too much money to achieve the same goals. The situation would be better after mergers, and he predicts something to happen before 2018. Related Video: News Source: ReutersImage Credit: Massimo Pinca / AP Photo Earnings/Financials Chrysler Fiat Sergio Marchionne FCA merger John Elkann

Neiman Marcus adds $65,000 Fiat 600 Jolly look-alike to Fantasy Gifts collection

Neiman Marcus recently released its Fantasy Gifts collection - a part of its Christmas catalog - that includes his and hers Island Cars featuring bespoke touches by Lilly Pulitzer. The vehicles are customized versions of the Island Car built by Island Car Limited in West Palm Beach, FL. The compact beach machines are manufactured to look like the Fiat 600 Jollys that were made in 1959 and from 1961 to 1964. The new ones cost $65,000 each. Neiman Marcus' Island Cars comes with signature Lilly Pulitzer prints, towels, tote bags, swim trucks for him, as well as a caftan (a long, loose dress) for her. Other than these extras, the beach-oriented cars share a lot of the same components as the ones built by Island Car Limited. The vehicles are built off a composite construction and compared to an original Jolly are lower, wider, and have more storage space. The Island Cars are powered by the company's own electric motors and lightweight batteries. Island Car Limited doesn't say what kind of range or batteries the compacts have, so we're assuming the vehicles are Neighborhood Electric Vehicles. While $65,000 is a lot of money for an electric vehicle that doesn't have doors, Hagerty values the average price of a 1964 600 Jolly at $44,400. Looking for something more powerful from the Neiman Marcus catalogue? There's always the Infiniti Q60 Red Sport. Related Video: News Source: Neiman MarcusImage Credit: Neiman Marcus Celebrities Design/Style Green Fiat Coupe Electric Special and Limited Editions neiman marcus neiman marcus christmas book

Feds investigating FCA sales fraud focusing on strange code word

The US government is currently investigating Fiat Chrysler Automobiles (FCA) over the possibility of sales fraud, and according to The Wall Street Journal, the investigation has revealed a strange phrase about a nonexistent "unnatural acts department." People knowledgeable about the term told The Wall Street Journal that this phrase was a "rallying cry." Basically, if it looked like the company, region, or dealer wasn't going to hit sales targets, this was a sign that some outside-the-box sales solutions were needed. People told the news outlet those solutions could include selling cars at a loss or having the dealer buy a fleet of customer test-drive cars. However, this could also be evidence of some less savory ways to boost sales. In addition to the investigation, the company is already facing at least one lawsuit from a dealer group that alleges it would bribe dealers to pad monthly sales figures. FCA had an incentive to maintain sales numbers as well, considering that it was claiming a long streak of increasing sales. Under scrutiny recently, the company changed its sales reporting practices and numbers for previous years. Under the old reporting methods, it was possible for dealers to sell cars, report the sales, and then cancel or "unwind" the sales later. This wouldn't count as a lost sale, but the car also couldn't be recorded as another sale later. As a result, an unscrupulous dealer could have hypothetically used it to "sell" a car one month and "unwind" it the next. If FCA knew about this, it's also possible the company could have pushed dealers to use the system for false sales, something the Feds theorize may be related to the "unnatural acts department" phrase. It's still entirely possible this "unnatural acts department" was just a corporate term for thinking of creative ways to meet sales goals. And selling cars at a loss is definitely unnatural for businesses that are trying to make money. Whatever the phrase truly meant to dealers, it certainly is bizarre. Related Video: News Source: The Wall Street JournalImage Credit: GIUSEPPE CACACE/AFP/Getty Images Government/Legal Chrysler Fiat FCA fiat chrysler automobiles fca us investigation