Tag Archive | "Chrysler Group LLC"

FCA Rolls Back Powertrain Warranty


AUBURN HILLS, Mich. — FCA US has reduced its powertrain coverage for 2016 model-year vehicles following a move by General Motors earlier this year to reduce its warranty coverage.

For 2016, FCA will offer a five-year, 60,000-mile powertrain warranty for its Chrysler, Jeep, Dodge, and Ram Truck vehicles powered by gasoline engines, according to a company statement. FCA had previously offered a warranty covering five years and 100,000 miles.The diesel warranty is unchanged.

“Following changes already made by competitors, FCA US is adjusting powertrain warranty coverage for 2016-MY vehicles to be more consistent with industry practices,” according to the statement.

The basic warranty, also known as bumper to bumper, remains at three years and 36,000 miles.

In March, General Motors also reduced its powertrain warranty to five years and 60,000 miles.

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Chrysler Renames Itself as FCA US


U.S. automaker Chrysler Group LLC said it had changed its name to FCA US LLC effective immediately to follow the naming convention of its parent Fiat Chrysler Automobiles (FCA), reported Reuters.

Italian automaker Fiat SpA took management control of Chrysler in 2009 after the American company emerged from government-sponsored bankruptcy.

Earlier this year Fiat completed its purchase of all outstanding Chrysler shares, and listed the company on the New York Stock Exchange in October.

Chrysler said the change of name does not affect the company’s headquarters in Auburn Hills, Michigan, its holdings, management team, board or brands.

FCA US employs more than 77,000 employees globally, and operates 36 manufacturing facilities, including 23 in the United States, six in Canada and seven in Mexico.

The company has projected a 60 percent growth in sales to 7 million vehicles and a fivefold increase in net profit to as much as $6.9 billion by 2018.

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Industry Records 1.4% Sales Increase in March


After three months of harsh winter storms, new-vehicle sales in March rose 1.4% from a year ago to 3.74 million units, according to Autodata Corp. The seasonally adjusted annual rate (SAAR) stood at 16.4 million, up from last March’s 15.3 million rate and up from 15.34 million in February. The following is a breakdown of sales performance by manufacturer:

BMW: The BMW Group reported an 8.1% increase in March sales vs. one year ago, with sales totaling 35,839 units. On a year-to-date basis, sales were up 2.8% from a year ago on sales of 81,228 units in the first three months of the year. BMW Brand Sales increased 18.6% from a year ago to 32,107 units. On a year-to-date basis, sales increased 11.5% from the same period last year to 72,377. Sales for MINI USA dropped 39.8% from a year ago to 3,655 units sold. On a year-to-date basis, sales were down 38.4% on volume of 8,657 units.

Chrysler: Chrysler Group LLC reported its best March sales since 2007, with sales increasing 13% from a year ago to 193,915 units. The Jeep (up 47%), Ram Truck (up 29%) and FIAT (up 24%) brands each posted year-over-year sales gains vs. a year ago, with Jeep posting the largest gain of 144% despite the recall of the Jeep Liberty. Chrysler is the only brand to show a decrease of 23% on year-over-year basis.

Six Chrysler Group vehicles set sales records in March, including the Jeep Compass, Patriot, Dodge Journey and FIAT 500L. The Jeep Wrangler and Ram Cargo Van also logged their best ever March, while the Dodge Grand Caravan had the largest year-over-year percentage sales increase of any Chrysler Group models in March.

Ford: The domestic automaker realized its best March sales in eight years. Retail sales totaled 244,167 units, a 3.3% increase from a year ago. The Ford Fusion posted a record sales month with 32,963 cars sold, up 9% from last year’s record month, while the F-Series broke the 70,000-unit mark in March.

Led by the MKZ, Lincoln sales increased 72% from a year ago — the brand’s best-ever sales month. March also marked the sixth straight month of positive sales for Ford’s luxury brand. And over the last five months, Lincoln sold 43,445 units, a 27% increase over the same period one year ago.

General Motors: The domestic automaker reported a 4.1% sales increase vs. one year ago, with the company delivering 256,047 vehicles in March. On a year-to-date basis, however, sales declined a slight 2.3%. Officials said they expect to see solid economic growth in the upcoming months.

Sales for the Chevrolet Silverado, the 2014 North American Truck of the Year, were up 14%, while sales of the GMC Sierra were up 23%. Deliveries of the Corvette were up 221% from a year ago. As for Cadillac, the brand’s CTS sedan drove an 11% increase in retail sales for CTS models, while sales of the SRX were up 37% from a year ago.

Sales of the Buick Regal were also up 52% from a year ago, while sales of the Encore increased 71% vs. March 2013.

Honda: American Honda reported a 2% decrease in sales from a year ago, with sales totaling 133,318 units. The company’s Acura division, however, realized a 10.4% increase in sales vs. one year ago, with sales totaling 15,580 units. Leading the way was the MDX, which realized an 80% sales increase from a year ago. Sales of the brand’s flagship model totaled 5,793 units. Additionally, sales of Acura trucks rose 45.8% from a year ago, with sales totaling 10,387.

The Honda division recorded sales of 117,738, with the Accord leading the way with March sales totaling 33,962 units. Sales of the Civic and CR-V both eclipsed the 27,000-unit mark, while Odyssey sales rose above the 10,000-unit mark.

Hyundai: The Korean automaker reported a slight 1.9% decreased in March sales, which totaled 67,005 units. On a month-to-month basis, however, sales were up 37% from February. Leading the way was the Santa Fe, which realized a 36.7% sales increase from a year ago. Sales of the Tucson rose 13.6%, while Equus sales were up 13.8%. Sales of the Sonata and Veloster were up 6.8% and 3.3%, respectively.

Mazda: The automaker reported its best-ever sales for March, with sales increasing 9% from a year ago to 34,903 units. The MX-5 also realized its best March since 2009, with sales increasing 31.1% from a year ago to 751 units sold. Additionally, ALG reported that the 2014 Mazda3 has the highest residual value in its segment, while KBB.com listed the entire Mazda brand as the most affordable nonluxury brand to own over a five-year period.

Mercedes-Benz: The German automaker reported its best first quarter sales ever, with March sales rising 11% from a year ago to 30,091 units sold. The Mercedes-Benz brand alone sold 29,316 units in March, a 12% increase from a year ago. On a year-to-date basis, sales rose 5.8% to 77,238 units.

The E-Class took the top spot with 6,335 units sold, a 58% increase from the same month last year. Sales of the C-Class totaled 5,660, while sales of the M-Class totaled 4,052 units, up 15.7% from March 2013. Sales of the company’s flagship S-Class totaled 2,299 for the month, up 89.1%.

Mitsubishi: The OEM reported its best March in six years, with sales increasing 70% from a year ago and 24% on a year-to-date basis. In total, the automaker sold 8,996 units in March. Outlander realized its best March sales since 2008, with sales rising 59.9% for the month and 22.4% year to date. Additionally, Lancer sales in March were up 72.4%, while sales of the Lancer Evolution were up 27.1%.

Nissan: The Japanese automaker reported an 8.3% increase in March sales vs. a year ago, with sales totaling 149,136 units — the company’s best month in 12 of the last 13 months. Sales of the all-electric Nissan LEAF set a March record, with sales increasing 12.1% from a year ago to 2,507 units. Nissan Altima sales totaled 35,921 units in March, its best sales month since March 2013. Sales of the Nissan Juke also reached a new monthly high, with sales increasing 77.3$ from a year ago to 6,943 units.

Infiniti reported sales of 12,494 units in March, an increase of 12.5% vs. one year ago. Sales of the all-new Infiniti Q50 luxury sports sedan totaled 3,795 units, while overall sales of Infiniti sports sedans, including the Infiniti G37, rose 27.9% for the month.

Toyota: Toyota Motor Sales reported a 4.9% increase in March sales vs. one year ago, with sales totaling 215,348 units. Toyota division sales were up 2.5%, totaling 186,755 units. Lexus sales increased 23.3% from a year ago to 28,593 units.

By model, the Toyota Camry posted sales of 42,000 units, while sales of the all-new Corolla totaled 30,000 units. Sales for Toyota’s truck division were up 10%, while the RAV4 realized its best-ever first quarter with more than 20,000 units sold. As for Lexus, the IS posted a 117% increase, while sales of the GS were up 32%. Sales of the RX closed in on the 10,000-unit mark, while sales of the brand’s luxury utility vehicles were up nearly 20% from a year ago.

Volkswagen: March sales for the German automaker were down 2.6% from a year ago, with sales totaling 36,717 units. Sales of the Jetta Sedan totaled 13,687 units for the month, up 6.3% vs the prior year, while the Passat realized its best March ever with sales totaling 11,050 units.

Audi realized its best-ever March and its 39th consecutive record sales month. Audi sales finished 7.5% ahead of the 13,253 units sold in March 2013. Through the first quarter, sales totaled 35,228, a 3% increase from one year ago. Sales of the A6 increased 26.7% from a year ago, while sales of the Q7 increased 45.8%.

Porsche reported a 9.2% sales increase vs. one year ago and a 5% sales increase on a year-to-date basis. The automaker realized its all-time best March, with 3,808 units delivered. The Cayenne continued to be the automaker’s most popular model with 1,862 sold units. Sales of the Boxter and Panamera totaled 617 and 442 units, respectively.

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Autodata: February Sales Fall 1.4%


Woodcliff Lake, N.J. — Harsh winter storms continued to impact new-vehicle sales, which fell 1.4% from a year ago to 1.19 million units, according to Autodata Corp. The seasonally adjusted annual rate (SAAR), however, was even with the rate recorded in February 2013 at 15.34 million units. However, the sale rate was up slightly from 15.24 million in January. The following is a breakdown of sales performance by manufacturer:

BMW: The BMW Group reported a 4.4% decreased in February sales vs. one year ago, with sales totaling 24,476 units. On a year-to-date basis, sales were down 1.2% from a year ago on sales of 45,272 units in the opening two months of the year. BMW Brand Sales increased 3.3% from a year ago to 22,017 units. On a year-to-date basis, sales were up 6.5% to 40,270. Sales for MINI USA dropped 42.8% from a year ago to 4,302 units sold. On a year-to-date basis, sales were down 37.3% on volume of 5,002 units.

Chrysler: Chrysler Group LLC reported its best February sales since 2007, with sales increasing 11% from a year ago to 154,866 units. The Chrysler (up 1%), Jeep, Ram Truck (up 26$), and FIAT (up 5%) brands each posted year-over-year sales gains vs. a year ago, with Jeep posting the largest gain of 47%.

Six Chrysler Group vehicles set sales records in February, including the Jeep Compass, Patriot and Wrangler. The Chrysler 200 and Dodge Journey also logged their best ever February, while the Ram pickup truck posted its best February in eight years with a 26% sales increase. Additionally, sales of the all-new Jeep Cherokee rose 12% vs. one year ago.

Ford: February sales for the domestic automaker fell 6% from a year ago to 183,947 units. Retail sales totaled 125,919 units, a 4% decrease from a year ago. Officials noted a late-month sales surge, which they hope means good things for March. One bright spot was the company’s F-Series truck line, which realized its best February in eight years. Sales of the pickup truck totaled 55,882 units.

Led by the MKZ and MKX, Lincoln sales increased 36% from a year ago to 6,661 units. February marked the fifth straight month of positive sales for Ford’s luxury brand. And over the last five months, Lincoln sold 34,476 units, a 26% increase over the same period one year ago.

General Motors: The domestic automaker reported a 1% decline in sales vs. a year ago, with the company delivering 222,104 vehicles in February. On a month-to-month basis, however, sales increased 30% thanks to the company’s Olympic advertisements.

The Chevrolet Sonic, Cruze and Malibu posted double-digit sales increases, while the Cruze realized its best February to date. Deliveries of the Corvette were up 149% from a year ago. As for Cadillac, the brand’s CTS sedan helped drive a 7% increase in retail sales for the CTS range, while sales of the SRX were up 23% from a year ago.

Sales of the Buick Encore nearly doubled, while Enclave and Equinox realized their best February sales ever. Additionally, deliveries of the GMC Acadia were up 2%.

Honda: American Honda reported a 7% decrease in sales from a year ago, with sales totaling 100,405 units. Bucking the trend were Acura light trucks, with sales increasing 29.8% from a year ago to 7,482 units.

The company’s Honda division recorded sales of 88,860 units, with the Accord, Civic and CR-V (up 0.1%) each recording sales of more than 20,000 units in February. Odyssey sales increased 4.6% to 8,945 units.

The Acura Division realized a 1.6% sales increase, with sales totaling 11,545 units in February. Sales of the brand’s MDX increased 54.9% to 4,563 units. The RDX posted its 22nd consecutive monthly sales record, with sales rising 4.2% to 2,911 units sold.

Hyundai: Sales for Hyundai Motor America decreased 6% to 49,003 units in February. On a month-to-month basis, however, sales were up 11% from January. Despite the tough month, two of brand’s smallest cars, the Accent and Veloster, realized a sales increase of 20%, while sales of the company’s two SUVs, the Santa Fe and Tucson, were up 12% from a year ago.

Mazda: The automaker reported February U.S. sales of 24,431 vehicles, a 2.4% decrease from a year ago. Year-to-date sales through February were down 6.7% vs. last year, with 43,155 vehicles sold. However, the Mazda6 experienced its second-best February since 2008 with 3,945 vehicles sold, a 46% increase from a year ago. The CX-5 realized its best sales month ever, with sales increasing 71.6% to 9,355 units sold. The company also reported that its SKYACTIV Technology accounted for 83.2% of all vehicle sales during the month, the largest percentage sold in one month.

Mercedes-Benz: The German automaker reported sales of 24,971 units for the month of February, a 3.8% increase from a year ago. This was the highest volume on record for the month, officials noted. The Mercedes-Benz brand alone achieved record February retail sales of 22,609 units, a 2.65% increase from a year ago. On a year-to-date basis, sales rose 1.5% to 45,213 units.

Sales were the led by the brand’s C-, E- and M-Class model lines, with sales totaling 5,612, 4,271 and 3,258 units, respectively. At the high end, sales of the all-new 2014 S-Class flagship model jumped 93.8% to 1,789 units.

Mitsubishi: The OEM reported a 1.2% dip in sales from February 2013, with sales totaling 5,977 units. On a year-to-date basis, sales were up 1.3% from a year ago. Sales of Mitsubishi’s core models (Outlander Sport, Outlander, Lancer, and Mirage) were up 8.9% in February and 12.7% on a year-to-date basis. Realizing the biggest sales increase was the Outlander Sport, with sales up 42.8% from a year ago.

Nissan: The Japanese automaker reported a 15.8% increase in February sales vs. a year ago, with sales totaling 115,260 units — a record total for February. Sales of the all-electric Nissan LEAF also set a February record, increasing 118.2% to 1,425 units. Also setting a new monthly record was the Rogue, with sales rising 72.6% to 17,197 units. The Nissan Juke also recorded its best monthly sales total, with sales rising 111.7% to 5,791 units.

Infiniti reported sales of 9,729 units in February, an increase of 6.4% vs. one year ago. Sales of the all-new Infiniti Q50 luxury sports sedan totaled 3,275 units, while overall sales of Infiniti sports sedans, including the Infiniti G37, rose more than 14.4% for the month.

Toyota: Toyota Motor Sales reported a 4.3% decrease in February sales vs. one year ago, with sales totaling 159,284 units. Toyota division sales were down 5%, totaling 140,429 units. Lexus sales increased 8.7% from a year ago to 18,855 units.

By model, the Toyota Camry posted sales of 29,000 units, while sales of the all-new Corolla totaled more than 25,000 units. The RAV4 realized its best February sales, with sales increasing 23% from a year ago. Also realizing its best-ever February sales month was the all-new Highlander, which posted a 30% sales increase from a year ago. As for Lexus, the IS and GX posted triple-digit sales gains, while sales of the GS were up more than 42%. The Lexus RX posted sales of more than 5,600 units.

Volkswagen: February sales for the German automaker were down 13.8% from a year ago to 27,112 units delivered. This was due, in part, to the winding down of outgoing models and the fewest number of selling days for the year, officials noted. Volkswagen’s TDI Clean Diesel models accounted for 16.8% of sales in February. Total Jetta deliveries accounted for 11,908 units of Volkswagen’s February sales total, while sales of the Passat totaled 6,997 units.

Audi sales just about mirrored last February’s sales totals, with 10,881 units sold. Leading the way was the company’s luxury SUVs, with the Q7 posting a 33.6% sales gain from a year ago. Sales of the company’s luxury sedans also stayed strong, with the A6 posting a sales increase of 27.2% vs. one year ago. Sales of the R8 were also up 40% vs. a year ago.

Porsche realized a 15% boost in sales over this time last year and a 2% increase on a year-to-date basis. The automaker realized its all-time best February, with 3,232 units delivered. The Cayenne continued to be the automaker’s most popular model with 1,260 sold units.

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Fiat-Chrysler Rebrands as Fiat Chrysler Automobiles


Turin, Italy – The Board of Directors of Fiat S.p.A. (Fiat) approved a corporate reorganization and the formation of Fiat Chrysler Automobiles (FCA) as a fully-integrated global automaker. Along with the new name, the group also announced a new logo and branding materials.

Following Fiat’s acquisition of the minority equity interest in Chrysler Group LLC, previously held by the VEBA Trust, the Fiat Board of Directors reviewed options for the most appropriate governance and corporate structure. In order to establish a true peer to the major global automotive groups, in both scale and capital market appeal, the board decided to establish Fiat Chrysler Automobiles N.V., organized in the Netherlands, as the parent company of the Group. FCA’s common shares will be listed in New York and Milan.

“A new chapter of our story begins with the creation of Fiat Chrysler Automobiles. A journey that started over a decade ago, as Fiat sought to ensure its place in an increasingly complex marketplace, has brought together two organizations each with a great history in the automotive industry and different but complementary geographic strengths. FCA allows us to face the future with a renewed sense of purpose and vigor,” said John Elkann, chairman, Fiat.

Sergio Marchionne, CEO, Fiat and chairman/CEO, Chrysler Group said, “Today is one of the most important days in my career at Fiat and Chrysler. Five years ago we began to cultivate a vision that went beyond industrial cooperation to include full cultural integration at all levels. We have worked tenaciously and single-mindedly to transform differences into strengths and break down barriers of nationalistic or cultural resistance. Today we can say that we have succeeded in creating solid foundations for a global automaker with a mix of experience and know-how on a level with the best of our competitors. An international governance structure and listings will complete this vision and improve the Group’s access to global markets bringing obvious financial benefits.”

Under the proposal, Fiat shareholders will receive one FCA common share for each Fiat share they hold and the FCA common shares will be listed on the New York Stock Exchange (NYSE) with an additional listing on the Mercato Telematico Azionario (MTA) in Milan. FCA is expected to be resident for tax purposes in the United Kingdom, but this is not expected to affect the taxes payable by group companies in the jurisdictions in which their activities are carried out.

In order to foster the development and continued involvement of a core base of long-term shareholders, FCA will adopt a loyalty voting structure, under which Fiat shareholders who are present or represented by proxy at the Fiat shareholder meeting called to vote on the proposal and who continue to hold their shares until the closing, regardless of how they vote, are eligible to receive special voting shares equivalent in number to the newly-issued FCA common shares they receive. The special voting shares will be subject to specific terms and conditions.

The transaction is expected to be completed by the end of the year. The Group will present a long-term business plan to the financial community at the beginning of May 2014.

A New Look to Go With a New Name
Following an initial phase with the two corporate logos appearing side-by-side, both FCA now requires a new corporate identity representative of an organization that is much more than the sum of its two component parts, based on strong core values that represents a unique corporate culture, a common vision and a group with an international reach.

Created by RobilantAssociati, this branding project began with definition of a distinct strategic concept that served as the basis for creation of the name, logo, house style and entire corporate identity, whose universal and essential forms are strongly expressive and evocative.

Use of an acronym helps create a transition from the past, without severing the roots, while at the same time reflecting the global scope of the Group’s activities. Easy to understand, pronounce and remember, it is a name well suited to a modern, international marketplace.

The three letters in the logo are grouped in a geometric configuration inspired by the essential shapes used in automobile design: the F, derived from a square, symbolizes concreteness and solidity; the C, derived from a circle, representing wheels and movement, symbolizes harmony and continuity; and finally, the A, derived from a triangle, indicates energy and a perennial state of evolution.

The logo’s design lends itself to an extraordinary range of symbolic interpretations. It uses a versatile, modern language capable of expressing continuous change without losing its core identity.

The new logo will be adopted by Fiat and Chrysler as soon as practicable and before completion of the reorganization of the new group.

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Fiat Completes Acquisition of Chrysler Group


Turin, Italy — Fiat S.p.A., through its wholly owned subsidiary, Fiat North America LLC, completed its previously announced acquisition of all of the VEBA Trust’s membership interests in Chrysler Group LLC. Chrysler Group is now a wholly-owned subsidiary of Fiat.

The consideration for the acquisition consisted of a special distribution paid by Chrysler Group on Jan. 21, 2014, of $1,900 million (FNA directed its portion of the special distribution to the VEBA Trust as part of the purchase consideration) and a cash payment by FNA to the VEBA Trust of $1,750 million.

Fiat funded the $1,750 million payment from available cash on hand. Chrysler Group funded the special distribution from available cash on hand.

As previously announced, Chrysler Group and the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America entered into a memorandum of understanding under Chrysler Group’s existing collective bargaining agreements to provide for additional contributions by Chrysler Group to the VEBA Trust of an aggregate of $700 million in four equal annual installments, the first of which was paid in connection with closing of the transaction with Fiat.

As part of the transactions and as promptly as practicable, FNA and the VEBA Trust will dismiss with prejudice the proceedings before the Delaware Court of Chancery with respect to the interpretation of the call option agreement.

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