Showing posts with label Chrysler. Show all posts
Showing posts with label Chrysler. Show all posts

22 Jan 2014

FIAT completes takeover of Chrysler Group.

Fiat S.p.A. (“Fiat”) through its wholly owned subsidiary, Fiat North America LLC (“FNA”), today completed its previously announced acquisition of all of the VEBA Trust’s[1] membership interests in Chrysler Group LLC (“Chrysler Group”). Chrysler Group is now a wholly-owned subsidiary of Fiat. The consideration for the acquisition consisted of:

  • a special distribution paid by Chrysler Group to its members on January 21, 2014 of U.S.$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 U.S.$1,750 million.

Fiat funded the U.S.$1,750 million payment from available cash on hand. Chrysler Group funded the special distribution from available cash on hand.
As previously announced, contemporaneously with the transactions described above, Chrysler Group and the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (the “UAW”) 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 U.S.$700 million in four equal annual instalments, 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.

21 Jan 2014

TMW - EUROPEAN SALES - Full brand sales in Europe for 2013

CLICK TO VIEW BIGGER PICTURE

2013 was a year of varying successes and failures, however overall 2013 was most probably the year that the Europe wide fall in sales finally flat-lined, there were some huge stories that hit the worldwide media over the last twelve months, namely the takeover of Chrysler by FIAT, VW's continued dominance in Europe, followed far far behind by the PSA group, who themselves are in continued talks about mergers, takeovers and financial dire straits.

But the main story, well on this blog, is the brilliant news that Jaguar Land Rover carry on where they left off 2012, and thats higher sales, better profits, more models, and more improvement in reliability. as well as the awards, that just flowed month after month to JLR, The stunning F-Type, new Sport and the big daddy, Range Rover, all said hello, and like a hound after a hare, the sales shot off, at a high rate of knots, the next few years will be a huge one for JLR, with massive investment, the new Engine plant at Wolverhampton UK, comes on stream this year, the new 3-Series competitor will emerge, as well as the new XF, and SUV.

The last year or two have been devoted to getting Range Rover right, this has been done, now it is the turn of Land Rover and Jaguar, with the Freelander name disappearing and being replaced with the Discovery moniker making Discovery a brand in its own right, but this is not all, a brand new plant in India, China, Mexico and Saudi Arabia are all with built, building or in the planning stages, JLR will become a huge company, one that the likes of BMW and Mercedes will do well to keep their eyes on.

SEAT and Skoda saved VAG by adding over 40,000 models to the 2012 sales, but VW, AUDI and Porsche all took hits keeping 13's sales below 12's, however the mighty VAG will not rest on its laurels, they did sell nearly three million cars in the EU last year, and nearly Ten Million worldwide, so a few thousand is really nothing, but I am sure that there will be meetings and conversations high up to fathom out the issues and processes put in place to ensure it does not happen this year.

The French brands fared little better, -8.4% for the PSA company and up 4.4% for Renault Group, however it was the Dacia brand that saved Renault, and a massive first year in the UK where it sold over 17,000 cars in its first year, not bad for an unknown brand, its seems that the UK customer did indeed do the maths (reference to the UK TV advertising "Dacia - You do the maths"), Peugeot and Citroen, for two old brands, with great products 2013 was a let down, but 2014 will be better, Peugeot will have the youngest range of products in its history, Citroen will continue with the DS brand and push it further into China, and with the 308 coming on stream worldwide, along with the 208 and 2008, this year will be a significant year for the French giants.

FIAT Group, well, where to start, what a rubbish year in Europe, every brand in their portfolio fell, even the great Ferrari didn't do exceptionally well in Europe, Alfa needs a Miracle, Lancia needs putting to sleep, FIAT needs billions of euros to turn it around, and Chrysler just has not succeeded in the EU, the real story with FIAT is the takeover of Chrylser and the continued slide of Alfa Romeo, it is surely going to take a vast amount of money and talent to get FIAT Group back on top.

Of the other US brands, both had minor falls, Ford dropped 3.2% and GM by 4.3% with Vauxhall saving GM further embarrassment, by increasing sales by over 11% in the UK, adding 20,000 extra sales, 2014 will be interesting to watch, to see if the announcement of Chevrolet pulling out of Europe will effect sales, I am sure that GM wont be advertising the fact, as any sales are worthwhile, even if they are pulling out.

The so called premium brands, BMW and Mercedes were complete opposites, with BMW+MINI dropping and Mercedes+SMART rising, of the remaining brands in Europe only Kia and Mazda managed to increase sales on the previous year, but with the majority of the drops only small numbers, just saying drop or rise is a little innocuous, overall the Europe market dropped by a rather insignificant 1.7%, but that 1.7% equates to about 200,000 sales, and that's not to be ignored.

2014 will be a year of change, more emphasis on China for a lot of brands will bolster sagging sales elsewhere, most companies have significant new car releases this year, so again sales figures will be buoyant, and with the increased sales, the fight for customers will start again, with various offers, finance packages and deals to tempt, even the most tight fisted buyer, these in turn will start the spiral that eventually ended up with the entire worldwide market crashing back in 2008, have any of the Motor Manufacturers taken note and will they act accordingly, don't be silly, it will just carry on as before, the belts will tighten, and gradually they will slip, and sometime in the future, we will all be back here doing the same thing.

In the mean time, enjoy the great new cars that are due this year, and take advantage of any and all offers that are around, and remember, at the end of the day, it is only a car, and not life and death, duh, what a lot of rubbish, we live for cars around here, and any new car is met with a smile and a great deal of interest, that's why we publish all we can. Enjoy them all and here is to the next 11 months of new releases, hopefully better sales and lots of interesting news and gossip from around the world.

Jon Mower

19 Jan 2014

USA - Chrysler group wins five POLK Automotive awards


  • Chrysler Town & Country wins Polk Loyalty Award for record 13th consecutive year
  • Jeep Grand Cherokee and Wrangler win their respective SUV categories, Grand Cherokee for fifth time
  • Dodge Challenger wins third Polk Loyalty Award for Non-Luxury Sport Mid-size Car
  • Fiat 500 wins Non-Luxury Traditional Subcompact Car

The Chrysler Group starts off the 2014 calendar year by winning five Polk Automotive Loyalty Awards, presented by IHS Automotive. The Chrysler Town & Country won its 13th consecutive Loyalty Award taking the Non-Luxury Mid-size Van category, extending its own record of consecutive wins. The Jeep Grand Cherokee won its fifth award in the Non-Luxury Mid-size SUV category and the Dodge Challenger took Non-Luxury Sport Mid-size Car honors for the third time. Jeep Wrangler nabbed the Non-Luxury Compact SUV award and the Fiat 500 won the Non-Luxury Traditional Subcompact Car category, both winning their first Polk Loyalty Awards.

”Chrysler Group’s emphasis on owner loyalty across their lineup is an indicator that the organization is truly working with consumers to bring them back” said Jeffrey Anderson, director of loyalty and source of sales solutions at Southfield, Mich.-based IHS Automotive, a division of research and analytics firm IHS. “To see five awards across multiple segments is impressive, and Town & Country’s run is unprecedented.”
                                                                                     
The Polk Loyalty Awards recognize manufacturers for superior owner loyalty performance, which is determined when a household that owns a new vehicle returns to market and purchases or leases another new vehicle of the same model or make. The 2013 awards are based on an analysis of more than 7.4 million new vehicle owners who bought new vehicles again during the 2013 model year.

“Winning five Polk Automotive Loyalty Awards is proof-positive of Chrysler Group’s drive to build the best vehicles on the market,” said Reid Bigland, Head of U.S. Sales, Chrysler Group LLC. “Customers will only come back if they trust their vehicles to deliver flawless quality and reliability, and these awards speak volumes about Chrysler Group’s extensive vehicle lineup.”

Chrysler Town & Country
The 2014 Chrysler Town & Country minivan is celebrating its 30th anniversary as one of the leading innovators in the segment it created back in late 1983. The world-class interior of the Chrysler Town & Country minivan is beautifully crafted with high-quality materials that are soft to the touch, and offers tech-savvy entertainment features and smart storage and seating options including Stow ‘n Go® seating with one-touch fold-down function, class-exclusive dual Blu-ray DVD entertainment system, navigation and SIRIUSXM satellite radio with Travel Link making the Chrysler Town & Country the ultimate family vehicle. A 3.6-liter Pentastar V-6 engine produces a best-in-class 283 horsepower and is mated to a six-speed automatic transmission with a fuel economizer mode delivering up to 25 miles per gallon highway.



Jeep Grand Cherokee
Jeep Grand Cherokee completely redefines the premium SUV, delivering an unprecedented combination of best-in-class fuel economy and driving range, available clean-diesel technology, legendary benchmark capability, world-class craftsmanship, and a host of advanced user-friendly technology and safety features. For 2014, Grand Cherokee offers a new EcoDiesel engine with best-in-class 30 mpg highway and an unmatched driving range of more than 730 miles.  A new eight-speed transmission drives all Grand Cherokee engines, including the 3.6-liter Pentastar V-6 – achieving up to 25 mpg and more than 600 miles driving range – and the 5.7-liter V-8, now achieving up to 22 mpg.



Jeep Wrangler
The iconic Jeep Wrangler – the most capable and recognized vehicle in the world – is equipped with a 3.6-liter Pentastar V-6 engine delivering 285 horsepower and 260 lb.-ft. of torque and up to 21 miles per gallon. Jeep Wrangler delivers unmatched off-road capability with legendary four-wheel drive and is produced with more than seven decades of 4x4 engineering experience.  Wrangler continues to offer a body-on-frame design, front and rear five-link suspension system, live axles, electronic lockers, and is one of the few mid-size SUVs that offer a six-speed manual transmission – in addition to its five-speed automatic transmission.



Dodge Challenger
With record sales levels since the reintroduction of the Challenger in 2008, the Dodge brand’s performance icon continues to deliver exactly what muscle car enthusiasts want – a powerful and efficient engine lineup, iconic muscle-car design with numerous personalization packages. Dodge Challenger combines world-class ride, refinement and braking performance with more power and a track-tuned suspension to deliver a thrilling driving experience. With its award-winning 3.6-liter Pentastar V-6 engine producing 305 horsepower and an impressive 25 mpg highway, the Dodge Challenger is the most powerful, refined and technologically advanced entry-level Challenger ever. And now with the return of “Scat Package” performance stage kits, plus the enthusiast-demanded Shaker performance hood with its HEMI® V-8 engine-mounted, fully floating scoop and exposed high-flow element for cold-air induction – the new 2014 Challenger R/T Shaker delivers up to 375 horsepower, performance and even more heritage-inspired style for the most hardcore Dodge enthusiasts.



Fiat 500
Reminiscent of the original 500 or "Cinquecento" born in 1957, the new Fiat 500 builds on the vehicle's global popularity. Since its initial launch on July 4, 2007, more than 1,000,000 Fiat 500 vehicles have been sold in more than 100 countries around the world. In addition to success on the sales front, the Fiat 500 has earned more than 80 international awards, including being named the 2008 European Car of the Year, 2009 World Car Design of the Year and Best New Engine of 2010 (Fiat MultiAir® Turbo). In the U.S., the 2012 Fiat 500 was named "Best Buy" in the subcompact category by Consumers Digest and was deemed a "Top Safety Pick" by the influential Insurance Institute for Highway Safety (IIHS).


6 Jan 2014

USA - December 2013 Sales: Automakers Shatter Records

The end of the year usually brings strong sales figures, and while a good number of automakers saw negative sales numbers for the month, they still managed to break yearly sales records. Some automakers even managed to set new sales records, like Audi who had its best U.S. sales year to date.Looking at the month of December, Honda had its best December sales, while Volkswagen managed to have its second best December since 1972. Other automakers boasted strong months, including Mitsubishi that had its best December in seven years.

We can't look at the month of December and not take a peek at overall sales records. Ford claimed its best year of sales since 2006, Kia had its second best full year of sales in the U.S., and Mazda managed to have its best year of retail-only sales since 1994.Even the luxury automakers outdid themselves. Mercedes-Benz achieved its highest year of sales in the U.S. with 312,534 units sold in 2013. BMW managed to break its U.S. all-time sales record, while both the BMW and Mini brands set new sales records.Take a look at the chart below to see how each automaker finished out 2013.

REPORT HERE

3 Jan 2014

MEXICO - Chrysler Group announces December sales across all brands.


  • FIAT brand sales, driven by Fiat 500, up 111 percent during December 2013, marking this its best sales year since its launch
  • Ram Crew Cab increased its sales volume 29 percent during December 2013
  • Jeep® brand sales grew 5 percent, led by Jeep Patriot and Jeep Grand Cherokee; Jeep Cherokee has arrived in dealerships, well accepted
  • Dodge brand sales propelled by Dodge Journey, which registered sales of 1,579 units — its best sales month in the last two years; Dodge Challenger registered sales of 96 units, best sales month ever and Dodge Durango sold 196 units, marking this its best sales month in five years

Chrysler de Mexico announced sales of 10,473 units for the month of December 2013, setting a sales record for the year.
“As the year ends, we feel very proud of what we accomplished. We closed 2013 with our best month of sales for the year. This month our sales were driven by Dodge Journey, Jeep Patriot, Ram Crew Cab and Fiat 500," said Bruno Cattori, President & CEO of Chrysler de Mexico. "Our new product launches, such as Dodge Durango, Jeep Grand Cherokee, Jeep Cherokee and Ram ProMaster, pushed our growth sales for the year. During 2013, we opened the Saltillo Van Assembly Plant and added a production line in the Saltillo North Engine Plant, creating new jobs and demonstrating the confidence the Company has in the products assembled in Mexico. We will continue providing new and revamped products in order to satisfy our customers’ needs.”

Chrysler Brand
Chrysler brand continues to perform well with 520 units sold during December 2013. Chrysler Town & Country sales rose 2 percent. Chrysler 200 sold 112 units during December 2013.

Jeep® Brand
Jeep brand sales grew 5 percent. Jeep Patriot led brand sales with 984 units sold, best sales month of the year. Jeep Grand Cherokee posted sales of 632 units, representing an increase of 15 percent. Jeep Wrangler sales improved 27 percent, all versus December 2012. Jeep Cherokee has had very good acceptance among Mexican customers in its second sales month.

Dodge Brand
Dodge brand continues its streak of successful numbers, posting sales this month of 3,894 units. The Dodge Challenger sold 96 units, best sales month ever, while the Dodge Durango registered a sales increase of 32 percent — its best sales month in 5 years. Dodge Journey sales surged 7 percent versus December 2012, with 1,579 units, marking this its best sales month in two years. Dodge Avenger sales grew 16 percent.

Ram Truck Brand
Ram brand showed sales of 1,371. Ram Crew Cab reported a sales increase of 29 percent, with 503 units sold during December 2013. Ram ProMaster, proudly assembled in Mexico, registered sales of 151 units.

FIAT and Alfa Romeo Brand
FIAT and Alfa Romeo achieved sales of 108 percent, with 1,013 units sold. Fiat 500 reached excellent results with 432 units sold during December 2013. Fiat Ducato sales surged 45 percent. This month, Alfa Romeo Giulietta sales improved 60 percent, marking this its best sales month since its launch.

USA - Chrysler announces December and full year corporate figures.

Chrysler Group LLC Reports December 2013 U.S. Sales Increased 6 Percent – Best December Sales in Six Years; Full-Year Sales Up 9 Percent – Strongest Annual Sales Since 2007

  • 45th-consecutive month of year-over-year sales gains
  • Chrysler Group full-year U.S. sales increase 9 percent in 2013; fourth-consecutive year of annual sales growth
  • Jeep® and Ram Truck brands each post double-digit sales increases in December compared with same month a year ago
  • Jeep brand posts best December sales ever with 34 percent sales gain; brand sets global sales record in 2013
  • All-new 2014 Jeep Cherokee sales top 15,000 units in its second full month of sales; sales up 48 percent compared with previous month of November
  • Motor Trend selects Ram 1500 as its 2014 Truck of the Year; Ram pickup sales up 11 percent in December
  • 2014 Dodge Dart, Dodge Avenger and Chrysler 200 sedans earn Top Safety Pick ratings from Insurance Institute for Highway Safety

Chrysler Group LLC today reported U.S. sales of 161,007 units, a 6 percent increase compared with sales in December 2012 (152,367 units), and the group’s best December sales since 2007.

The Jeep® and Ram Truck brands each posted double-digit percentage sales gains in December compared with the same month a year ago. The Jeep brand’s 34 percent increase was the largest sales gain of any Chrysler Group brand during the month. FIAT brand sales were up 1 percent. Chrysler Group extended its streak of year-over-year sales gains to 45-consecutive months in December.

“Chrysler Group ended the year with a 6 percent sales gain in December and our 45th-consecutive month of year-over-year sales gains,” said Reid Bigland, Head of U.S. Sales. “Our Jeep and Ram Truck brands had a strong finish led by the all-new 2014 Jeep Cherokee and the Ram pickup truck, Motor Trend’s 2014 Truck of the Year. Sales of the new Cherokee topped 15,000 units in December as our newest SUV continues its solid sales performance out of the gate.”

In its second full month of sales, the new Cherokee mid-size SUV recorded sales of 15,038 units, surpassing sales of the Jeep Wrangler. The Jeep brand recorded its best December sales ever. In addition, the Wrangler and Jeep Patriot each recorded their best December sales ever.

Full-year Chrysler Group sales were up 9 percent in 2013, compared with sales during 2012. It was the fourth-consecutive year of Chrysler Group sales growth. The Ram Truck brand, with its 22 percent increase in 2013, had the largest full-year sales gain of any Chrysler Group brand. Chrysler Group realized sales growth in both its car and truck segments during the year. Chrysler Group car sales in the U.S. were up 11 percent in 2013, while truck sales were up 8 percent. The Jeep brand set a global sales record in 2013.

Chrysler Group finished the month of December with a 79 days supply of inventory (508,615 units). U.S. industry sales figures for December are internally projected at an estimated 15.8 million units Seasonally Adjusted Annual Rate (SAAR).

December 2013 U.S. Sales Highlights by Brand

Jeep® Brand

Jeep brand sales were up 34 percent in December, its best December sales ever and the largest percentage sales gain of any Chrysler Group brand for the month. The Jeep brand’s December sales were second only to record sales in July 2005.

Sales of the all-new 2014 Jeep Cherokee were up 48 percent compared with the previous month of November. Jeep brand dealers sold 15,038 units of the new Cherokee during December, its second full month of sales. The Cherokee topped Jeep Wrangler sales in December as it continued its strong sales launch. The Cherokee was crowned the “Best New SUV/CUV Under $35,000” in December by the Automobile Journalist Association of Canada. The new Cherokee bested a quartet of rivals from one of the country’s most popular and hard-fought vehicle segments.

The Wrangler, Jeep Patriot and Jeep Compass each posted year-over-year sales gains in December. The Patriot compact SUV, with its 35 percent increase, logged the largest percentage sales gain of any Jeep brand model in December. Wrangler sales were up 4 percent in December, compared with the same month a year ago. Both the Wrangler and Patriot each posted their best December sales ever.

Ram Truck Brand

Sales of the Ram pickup truck were up 11 percent in December, its 44th-consecutive month of year-over-year sales gains and its best December sales since 2004. Sales of the Ram Heavy Duty pickups were up 16 percent, while Ram Light Duty sales increased 7 percent. Motor Trend selected the Ram 1500 in December as its 2014 Truck of the Year, its first ever back-to-back winner. Nine Truck of the Year contenders were put through an extensive battery of testing designed to evaluate virtually every aspect of each vehicle. The judges were particularly impressed with the performance of the Ram 1500’s all-new EcoDiesel V-6 engine as well as its eight-speed TorqueFlite transmission, a combination that boasts a towing capacity of up to 9,200 pounds. The 3.0-liter EcoDiesel V-6 is among Ward’s 10 Best Engines for 2014.

Ram Truck brand sales were up 17 percent in December compared with the same month a year ago. Sales of the all-new 2014 Ram ProMaster van were up 126 percent, compared with the previous month of November. The ProMaster van went on sale in the U.S. in October. The Ram Commercial Truck division in December announced that it will offer an all-new small van for the North American market. Joining the larger ProMaster as an additional van offering, the 2015 Ram ProMaster City will compete with small commercial and passenger vans.

Full-year Ram Truck brand sales were up 22 percent in 2013, the largest percentage sales increase of any Chrysler Group brand for the year.

FIAT Brand

FIAT brand sales were up 1 percent in December compared with the same month a year ago. The FIAT brand recorded nine months of year-over-year sales gains during 2013. Sales of the new Fiat 500L, which debuted in June, were up 52 percent in December compared with the previous month of November.

The all-electric Fiat 500e Battery-Electric Drive System was among Ward’s 10 Best Engines for 2014 and the lone representative of electric-vehicle technology. The battery-electric drive system in the 500e hatchback delivers the best-in-class range of 87 miles.

Dodge Brand

Dodge brand sales were down 9 percent in December, but full-year sales in 2013 were up 14 percent on strong Dodge Dart, Dodge Durango, and Dodge Challenger sales. Sales of the Durango full-size SUV were up 3 percent in December compared with the same month a year ago, extending its run of year-over-year sales gains to 14-consecutive months. It was the Durango’s best December sales in eight years. Sales of the Dodge Charger were up 29 percent in December.

The 2014 Dart and Dodge Avenger sedans earned Top Safety Pick ratings from the Insurance Institute for Highway Safety (IIHS) in December. The announcement marks the fifth-consecutive year that the IIHS has commended the Avenger mid-size sedan. Meanwhile, the insurance industry organization has hailed the Dart compact sedan each year since it arrived on the market in 2012. The Dodge sedans feature significant advanced-technology steel content, which enhances structural integrity. The Dart’s 68 percent content ratio of high-strength steel is among the highest in the industry. The Dart also boasts a 5-star safety rating based on crash tests performed by the U.S. National Highway Traffic Safety Administration.

Chrysler Brand

Chrysler brand sales were down 21 percent in December, but sales of the award-winning Chrysler Town & Country minivan were up 5 percent compared with the same month a year ago. It was the Town & Country’s best December sales in three years. For the full year, Town & Country sales were up 9 percent in 2013.

Chrysler 200 sedan sales were up 3 percent for the full year, compared with sales in 2012. The 2014 Chrysler 200 mid-size sedan earned a Top Safety Pick from the Insurance Institute for Highway Safety in December, the model’s fourth-consecutive Top Safety Pick from the insurance industry organization.


USA - FIAT agrees terms with UAW to take control of Chrysler Group

FIAT S.p.A. (“FIAT”) today announced an agreement with the VEBA Trust[1], under which its wholly owned subsidiary, FIAT North America LLC (“FNA”), will acquire all of the VEBA Trust’s equity membership interests in Chrysler Group LLC (“Chrysler Group”), representing the 41.4616% of Chrysler Group not currently held by FNA.  The transaction is expected to close on or before January 20, 2014.

In consideration for the sale of its membership interests in Chrysler Group, the VEBA Trust will receive aggregate consideration of U.S. $3,650 million consisting of:

  • a special distribution payable by Chrysler Group to its members, in an aggregate amount of approximately U.S.$1,900 million (FNA’s portion of the special distribution will be paid by FNA to the VEBA Trust as part of the purchase consideration)[2]; and
  • at closing, FNA will pay the remainder of approximately U.S.$1,750 million in cash purchase consideration to the VEBA Trust.
FIAT expects to fund the U.S. $1,750 million in cash from available cash on hand.  Chrysler Group expects to fund the special distribution from available cash on hand.

Contemporaneously with the transactions described above, Chrysler Group and the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (the “UAW”) have agreed to 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 U.S. $700 million in four equal annual installments.  The initial payment will be made on closing of the transaction with FIAT and additional payments will be payable on each of the next three anniversaries of the initial payment. Chrysler Group expects to fund the initial contribution to the VEBA Trust from available cash on hand.

In consideration for these contributions, the UAW will agree to certain commitments to continue to support the industrial operations at Chrysler Group and the further implementation of the FIAT-Chrysler alliance, including to use best efforts to cooperate in the continued roll-out of FIAT-Chrysler World Class Manufacturing programs, actively participate in benchmarking efforts associated with implementation of these programs across all of FIAT-Chrysler manufacturing sites to ensure objective performance assessments and provide for proper application of WCM principles, and actively assist in the achievement of the Group’s long-term business plan.

“I have been looking forward to this day from the very moment that we were chosen to assist in the rebuilding of a vibrant Chrysler back in 2009,” said John Elkann, Chairman of FIAT. “The work, commitment and achievement I have witnessed from Chrysler over the past four and a half years is nothing short of exceptional, and I take this opportunity to officially welcome each and every one of the people in the Chrysler organisation to the integrated FIAT-Chrysler world.”

Sergio Marchionne, Chief Executive of FIAT and Chairman and CEO of Chrysler Group, had this to say: “In the life of every major organisation and its people, there are defining moments that go down in the history books. For FIAT and Chrysler, the agreement just reached with the VEBA is clearly one of those moments. I will be forever grateful to the leadership team for the support and unwavering dedication shown to the integration project that today has taken its final shape. The unified ownership structure will now allow us to fully execute our vision of creating a global automaker that is truly unique in terms of mix of experience, perspective and know-how, a solid and open organisation that will ensure all employees a challenging and rewarding environment.”

As part of the transactions, FNA and the VEBA Trust will agree to dismiss with prejudice the current proceedings before the Delaware Court of Chancery with respect to the interpretation of the call option agreement pursuant to which FIAT has, through FNA, exercised three tranches of a call option to acquire membership interests in Chrysler Group held by the VEBA Trust.  All of these membership interests will be acquired by FNA in connection with the transactions described above.

Given the funding arrangements for this transaction, it is not envisioned that FIAT will require equity capital to be raised via a rights issue.

[1] The UAW Retiree Medical Benefits Trust, a Voluntary Employees’ Beneficiary Association, is an independently administered trust established to pay health care benefits for retirees from Chrysler.

[2] In the event that the special distribution from Chrysler Group cannot be paid by the intended closing date (January 20, 2014 or earlier) FIAT intends to make payment to the VEBA Trust of the aggregate consideration and thereafter receive the special distribution when it is the 100% owner of Chrysler Group.

22 Dec 2013

TMW - Merry Christmas and Happy New Year from all at The Motoring World.



As 2013 draws to a close, we can look back on a number of huge stories in the motoring world, The Jaguar F-Type, Corvette Stingray, Viper, the continued dominance of the VAG group and the unsteady state of Peugeot Citroen and the return of DATSUN.

SAAB has made a return, MG continues to fail in the UK, the Chinese have proved they can build great cars, along with a new brand Qoros, the new MkIII MINI, Golf MkVII, FIAT's continued takeover of Chrysler along with the stunning Alfa 4C.

Just a tiny amount of news and its only just the start, 2014 is looking like a massive year for the automotive world, we should get first looks at at least three brand new cars from Jaguar Land Rover, BMW's hybrid sports car the i8, The Bentley SUV, New Lambo SUV, and a number of exciting developments from Mercedes, AUDI, Lotus, Citroen and Nissan, again, just a tiny hint of what is to come.

So, from The Motoring World, thank you for taking a few minutes of your valuable time to have a read of my blog, and all things motoring, and please where ever you are, who ever you are, and what ever you do, thank you and have a great Christmas Holiday and I wish you all a great 2014.
Jon Mower

15 Dec 2013

USA - Chrysler issues recall notice on a number of its products.

Chrysler Group LLC will recall an estimated 5,663 cars and trucks to inspect their automatic transmissions.

Output shafts installed in some model-year 2013 vehicles were shaped using a two-stage forging method employed during early production. The resulting components may be subject to fracture in rare circumstances.

The process has been replaced by a single-stage forging method.

Chrysler Group is unaware of any associated injuries or accidents.

The recall is limited to certain Chrysler 300, Dodge Charger and Ram 1500 models equipped with a specific set of features and equipment: 4x4 or all-wheel drive, an 8-speed transmission and a V-6 engine. Chrysler Group will inspect and test their transmission output shafts and, if necessary, replace their transmission assemblies at no cost to customers.

Affected customers number approximately 4,194 in the U.S., 1,424 in Canada and 45 outside the NAFTA region. They will be notified when to schedule service appointments with their dealers.

Customers who have concerns may call 1-800-853-1403.

9 Dec 2013

USA - Sales for November by brand and with best seller.

Another month has come and gone, and automakers have announced November sales figures. Just like last month, all but six automakers managed to have positive numbers. The majority of automakers show double digit percentage increases over the same month last year, showing the industry as a whole is continuing to grow.
This month’s sales leader was once again Jaguar, with an increase of 103 percent. Not as high as last month, but the automaker continues to outpace the rest of the industry. High sales of the new XF have boosted Jaguar to the top, and with new models coming out in the months ahead, we can expect the numbers to continue to climb.
Volkswagen continues to struggle with sales, and although the numbers weren’t as low as last month, it seems like the automaker needs to do something to get back in the positive. Volvo has also struggled this month, showing a decrease of over 30 percent when compared to November 2012. Hopefully with the holidays coming, sales will increase for the automakers.
Check out the numbers below to see what automakers managed to stay on top.


4 Nov 2013

USA - Sales by brand and best seller for October

October sales numbers are out, and the vast majority of automakers have shown positive numbers, with only six falling behind. This month brought a twist with it as Maserati posted sales, something the luxury automaker hasn’t done for quite some time. And for good reason. Sales for the company are up 186 percent, and sales have nearly tripled since the same month last year.


Jaguar Land Rover continues to break records and report extremely high sales numbers, and this month is no different. Separately, Jaguar and Land Rover managed sales increases of 117 percent and 37 percent, respectively, mainly due to strong XF and Range Rover sales.

Lincoln has seemingly turned around its poor sales numbers this month and boasts an almost 40 percent increase over the same month last year. But looking back at September, nearly every automaker was down for the count. We hope to see the automaker continue to climb its way back up.

We don’t want to give everything away, so take a look at the chart below to see which automakers came out on top.


REPORT HERE

3 Nov 2013

Chrysler Group LLC has reported U.S. sales of 140,083 units, an 11 percent increase compared with sales in October 2012


  • 43rd-consecutive month of year-over-year sales gains
  • Chrysler, Jeep®, Dodge and Ram Truck brands each post sales increases in October compared with same month a year ago
  • Six Chrysler Group vehicles each set sales record for month of October
  • Jeep Grand Cherokee, Wrangler, Compass and Patriot each post year-over-year sales gains led by the 68 percent increase in Compass sales
  • Two all-new models – 2014 Jeep Cherokee mid-size SUV and 2014 Ram ProMaster van – arriving at dealerships across the country; first sales recorded in October for both new vehicles
  • Ram Truck, Jeep and Dodge brand vehicles take top honors at the annual Texas Auto Writers Association (TAWA) Texas Truck Rodeo
  • All-new 2014 Fiat 500L and all-new 2014 Jeep Cherokee each earn a Top Safety Pick from Insurance Institute for Highway Safety (IIHS)

Chrysler Group LLC has reported U.S. sales of 140,083 units, an 11 percent increase compared with sales in October 2012 (126,185 units), and the group’s best October sales since 2007.

The Chrysler, Jeep®, Dodge and Ram Truck brands each posted year-over-year sales gains in October compared with the same month a year ago. The Ram Truck brand’s 22 percent increase was the largest sales gain of any Chrysler Group brand during the month. Chrysler Group extended its streak of year-over-year sales gains to 43 consecutive months in October.

“After a choppy start to the beginning of the month, Chrysler Group sales accelerated in the second half of the month with renewed consumer confidence and the launch of our all-new Jeep Cherokee,” said Reid Bigland, Head of U.S. Sales. “Following a meticulous focus on quality, our new Jeep Cherokee began shipping to dealers and quickly selling which helped us to achieve our 43rd-consecutive month of year-over-year sales increases.”

The all-new 2014 Jeep Cherokee and the all-new 2014 Ram ProMaster went on sale in October, expanding the Chrysler Group product lineup. Six Chrysler Group vehicles logged their best October sales ever, including the Jeep Wrangler and Jeep Patriot, and the Dodge Journey crossover, Dodge Dart compact car and the Dodge Challenger. This was the Wrangler’s seventh sales record this year, including an all-time sales record in May. The Ram Cargo Van also logged its best October sales ever.

Chrysler Group finished the month with an 86 days supply of inventory (445,271 units). U.S. industry sales figures for October are projected at an estimated 15.7 million units Seasonally Adjusted Annual Rate (SAAR).

October 2013 U.S. Sales Highlights by Brand

Ram Truck Brand

Ram Truck brand sales were up 22 percent compared with the same month a year ago.  Sales of the Ram pickup truck were up 18 percent, its 42nd-consecutive month of year-over-year sales gains and its best October sales since 2004. The Ram Truck brand recorded its first sales of the all-new 2014 Ram ProMaster van in October.


The Ram Truck brand took home eight awards last month at the annual Texas Auto Writers Association Texas Truck Rodeo, including the Truck Line of Texas. The 2014 Ram 1500 was named Truck of Texas for the second-consecutive year, as well as Full-Size Truck and Luxury Truck of Texas. The 2014 Ram 2500 received the Heavy Duty Truck of Texas award and Best Technology award for its five-link coil rear suspension. The 2014 Ram ProMaster was named the Commercial Vehicle of Texas, while the Ram 1500 and Jeep Grand Cherokee shared the Best Powertrain award for the 3.0L EcoDiesel engine.

Sales of the Ram Cargo Van were up 120 percent, its best October sales ever.

Dodge Brand

Dodge brand sales were up 12 percent in October, the brand’s best October sales since 2005 and its 29th-consecutive month of year-over-year sales gains. The Dodge Dart, Dodge Challenger and Dodge Journey mid-size crossover each recorded their best October sales ever, while sales of the Dodge Charger sport sedan were up 60 percent.

Sales of the Dodge Grand Caravan were up 9 percent, the minivan’s best October sales in seven years. To celebrate 30 years of minivan leadership, the 2014 Dodge Grand Caravan 30th Anniversary Edition, available on both the SE and SXT models, is now on sale featuring unique content, including commemorative badging, special paint and black interior trim.

The Dodge Durango full-size SUV extended to 12-consecutive months its run of year-over-year sales gains with its 59 percent increase. The Durango was named the 2014 Full-Size SUV of Texas during TAWA’s Texas Truck Rodeo in October.

Jeep® Brand

Jeep brand sales were up 7 percent in October as all Jeep brand vehicles, excluding the all-new 2014 Jeep Cherokee, posted year-over-year sales gains. The Jeep Compass, with its 68 percent sales gain, recorded the largest percentage increase of any Jeep brand model in October. The Jeep Wrangler and Jeep Patriot each set a sales record for the month of October. The Wrangler has set a sales record in seven months this year, including an all-time record in May. Sales of the Jeep Grand Cherokee, the SUV of Texas for the fourth-consecutive year, were up 20 percent in October, its best October sales since 2005. The flagship Grand Cherokee also won Mid-Size SUV and Luxury Mid-Size SUV of Texas during last month’s Texas Truck Rodeo. The Wrangler took home the award for Off-Road Utility Vehicle of Texas.

The all-new Jeep Cherokee mid-size SUV went on sale in October in dealerships across the country, recording sales of 579 units in its partial month of sales. The Cherokee has already won an award in its first head-to-head vehicle competition – Compact SUV of Texas – in TAWA’s Texas Truck Rodeo. In addition, the Cherokee earned a Top Safety Pick from the Insurance Institute for Highway Safety in October.

The Cherokee completely redefines the mid-size SUV segment, delivering legendary Jeep 4x4 capability, a segment-first nine-speed automatic transmission, fuel economy improvements of more than 45 percent (versus the former Jeep Liberty model), superior on-road ride and handling, a cutting-edge, revolutionary design, world-class craftsmanship, class-exclusive technology and more than 70 advanced safety and security features.

Chrysler Brand

Chrysler brand sales were up 6 percent, the brand’s best October sales performance since 2007. Sales of the award-winning Chrysler Town & Country were up 28 percent, the minivan’s best October sales in six years. As the creator of the minivan segment, Chrysler Group is celebrating 30 years of the minivan this fall. Now on sale, the 2014 Chrysler Town & Country 30th Anniversary Edition is based on the Touring L model and features unique exterior and interior content. Town & Country sales are up 6 percent through October this year compared with the same period in 2012.

FIAT Brand

FIAT brand sales were down slightly in October compared with the same month a year ago. The Fiat 500e all-electric model, available in the state of California, logged its best sales month so far this year. Sales of the all-new 2014 Fiat 500L were up 26 percent in October versus the previous month. October was the 500L’s best sales month since launch in June. The 500L was named a 2013 Top Safety Pick in October by the Insurance Institute for Highway Safety. The 500L recorded the highest-possible rating in each of four IIHS tests to determine the Top Safety Pick. The innovative, four-door B-segment hatchback was one of two Chrysler Group vehicles to earn the designation during the latest round of IIHS evaluations. Top Safety Pick testing simulates a side impact, front moderate-overlap impact, roof-crush consistent with a rollover, and a rear collision capable of inducing whiplash.