marchionne Archives

Report: Marchionne admits Dodge Nitro “needs to be replaced”

Filed under: SUV, Crossover, Chrysler, Dodge, Jeep, Fiat

Dodge Nitro Detonator – Click above for high-res image gallery

Some might argue that the Dodge Nitro was ready for replacement, oh, about the day after it was first released back in 2006. If that’s the case, then Dodge’s midsize sport utility vehicle is certainly well past its sell-by date now that our calendars tell us we’re sitting in 2011.

Apparently, nobody knows that truth better than Chrysler chief Sergio Marchionne, who told reporters at the Detroit Auto Show that the Nitro and its platform mate, the Jeep Liberty, are “the most significant hole in our product portfolio.”

Noting that “it needs to be replaced,” Marchionne suggested that a decision on a replacement for the Pentastar’s uncompetitive midsize ‘ute platform will be made in the next 40 days… though there’s no indication whether that replacement will come from Dodge, Jeep, Chrysler or one of the other brands currently under the Fiat umbrella.

We also can’t yet say whether the new SUV will be built at the Toledo North Assembly Plant like the current Nitro and Liberty, or whether Chrysler will use Fiat’s C-Evo architecture as initially speculated.

Gallery: Dodge Nitro Detonator

[Source: Automotive News – sub. req.]

Report: Marchionne admits Dodge Nitro “needs to be replaced” originally appeared on Autoblog on Wed, 12 Jan 2011 17:28:00 EST. Please see our terms for use of feeds.

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Chrysler’s Marchionne says only one minivan per brand, C-Max competitor coming

Filed under: Detroit Auto Show, Minivan/Van, Chrysler, Dodge

Chrysler CEO Sergio Marchionne says the automaker plans to only offer one minivan in the future, eliminating either the Chrysler Town and Country or Dodge Caravan by 2013. Additionally, the company is working on a smaller “people mover,” that will go to whichever marque doesn’t retain the minivan.

“If our Project Genesis [a plan to have all Chrysler-Dodge-Jeep showrooms at a single dealership] goes to its conclusion, which is the plan, then it makes no sense to offer consumers two minivans differentiated only by equipment,” Marchionne said in an interview with reporters at the North American International Auto Show.

The smaller “people mover” is being engineered from a new architecture that will underpin several new vehicles in the Fiat and Chrysler lineups. Though Marchionne didn’t get into specifics, the platform is likely to be developed for the Fiat Giulietta, with Chrysler and Fiat engineers planning to expand and adapt the chassis to serve as the basis for a replacement for the Jeep Compass and Patriot, among other vehicles.

Inititally, Marchionne indicated that he would prefer to keep the Dodge Caravan and make the micro-van a Chrysler. In Canada, 80% of the minivan mix is comprised of the Dodge Caravan. But the Town and Country outsells the Caravan in the U.S. and other markets. “We will have to look at the branding, but we are absolutely going to one minivan.” One consideration for Chrysler planners will be that it would be difficult to get the premium price points – over $40,000 for the top-of-the-line Town and Country – for a Dodge branded minivan. LIkewise, it will be difficult to get prices North of 30,000 for even a loaded Chrysler micro-van.

Marchionne also said that both the minivan, and the micro-van would be built at the company’s Windsor, Ontario plant where the minivans are currently produced and designed to compete against the Mazda5 and Ford Grand C-Max.

Chrysler’s Marchionne says only one minivan per brand, C-Max competitor coming originally appeared on Autoblog on Tue, 11 Jan 2011 14:58:00 EST. Please see our terms for use of feeds.

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Marchionne: Jeep is finally getting a pickup… kinda

Filed under: Truck, Jeep

Jeep Gladiator Concept

Jeep Gladiator Concept – Click above for high-res image gallery

During a roundtable meeting in Detroit, Chrysler CEO Sergio Marchionne confirmed that Jeep will be getting a new model in the near future, one that he’s classifying as a “multipurpose” vehicle fitted with “a truck bed.”

Although Marchionne stopped short of calling the Jeep a pickup, he did reference the 2005 Gladiator concept (above) and said “there’s better than a 50% chance that you’ll get one.”

Just as intriguing, the perpetually sweatered-CEO told the assembled media that the cargo-hauling Jeep will come to market whether the Ram brand likes it or not, saying, “They’re totally peeved off at the fact that we’re going to have anything that looks like a pickup truck with a Jeep badge on it. I actually think there’s space for it.” So do we Mr. Marchionne. So do we…

Gallery: 2005 Jeep Gladiator Concept

[Source: PickupTrucks]

Marchionne: Jeep is finally getting a pickup… kinda originally appeared on Autoblog on Tue, 11 Jan 2011 11:55:00 EST. Please see our terms for use of feeds.

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Report: Marchionne confirms 7-seat Jeep Grand Wagoneer in 2013

Filed under: SUV, Chrysler, Jeep

Jeep Grand Wagoneer with horses

Jeep Wagoneer through the years – Click above for high-res image gallery

Sergio Marchionne, CEO of Chrysler, has reportedly just announced his plans to bring an old American nameplate back to life. According to Automotive News, in two years time, Jeep will roll out a seven-seat SUV and its badge will read: Grand Wagoneer. According to Marchionne, it will be an upscale, seven-seat sport utility vehicle built on the same platform as the Jeep Grand Cherokee and Dodge Durango.

The Jeep Grand Wagoneer is slated to make its first appearance in January 2013, though whether that will be in conceptual or production form, we’re not yet sure.

Gallery: Jeep Wagoneer through the years

1984 Jeep Grand Wagoneer 1963 Jeep Wagoneer 1966 Jeep Wagoneer 1978 Jeep Wagoneer

[Source: Automotive News – sub. req.]

Report: Marchionne confirms 7-seat Jeep Grand Wagoneer in 2013 originally appeared on Autoblog on Tue, 11 Jan 2011 10:58:00 EST. Please see our terms for use of feeds.

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Marchionne pondering Ferrari IPO?

Filed under: Earnings/Financials, Ferrari, Fiat

Ferrari 458 Challenge racer

Ferrari 458 Challenge racer – Click above for high-res image gallery

If you’re reading Autoblog right now, then there is a pretty good chance you’d love to own a Ferrari at some point in your life. Unfortunately, there is a far, far greater chance that your garage will never feature the Prancing Horse. But just because you can’t own a California or 458 Italia doesn’t mean you can’t own a chunk of the Maranello-based supercar maker. Automotive News reports that Fiat S.p.A CEO Sergio Marchionne says that there is a chance the automaker could issue an IPO for Ferrari by 2014.

We know that some enthusiasts will jump at the chance to purchase a single share of Ferrari stock. It would look damn cool to feature a share of Ferrari stock hung on the most important wall in the house. But how much can a company that only sells just over 6,000 vehicles per year be worth? Apparently quite a bit. Morgan Stanley recently valued the exotic car maker at $3.1 billion, or $100 million more than Fiat’s volume brands. It doesn’t hurt that Ferrari routinely pulls in profits of $300 million to $400 million with ridiculous profit margins of 13 percent per very pricey vehicle. Of course, Ferrari also pulls in quite a bit of coin with its ridiculous branding efforts that include everything from clothing to electronics.

While a Ferrari IPO would net quite a bit of liquid gold for Fiat, Marchionne also mentioned that he’d love for Turin, Italy-based automaker to revert back to its traditional ownership stake of 90 percent. Since Enzo Ferrari passed down 10 percent of his company to his son, if Fiat hits 90 percent, an IPO is out of the question.

Gallery: Ferrari 458 Challenge racer

[Source: Automotive News – sub. req.]

Marchionne pondering Ferrari IPO? originally appeared on Autoblog on Mon, 20 Sep 2010 17:29:00 EST. Please see our terms for use of feeds.

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Report: Marchionne predicts Chrysler IPO in second half of 2011

Filed under: Chrysler, Earnings/Financials, Fiat

The timeline for Chrysler’s IPO is gradually coming into focus. Four months ago Fiat CEO Sergio Marchionne said he expected to Chrysler’s offering to happen “probably” in 2011. Now he’s narrowed that down to becoming “a second-part-of-the-year event.”

The timing makes all kinds of sense: not only does Marchionne not expect a profit this year, the results of Fiat’s integration with Chrysler won’t begin to bear fruit until the middle of next year, after the 500 has gone on sale and had a few months to find its feet. By then, the company might also have some better news to report about 2011’s finances. Frankly, we wouldn’t be surprised if it didn’t happen until early 2012. And speaking of the 500, when it starts rolling in, Fiat will be able to claim another five percent of Chrysler, taking its stake to 35 percent.

[Source: Automotive News – Sub. Req. | Image: Massimo Pinca/Getty]

Report: Marchionne predicts Chrysler IPO in second half of 2011 originally appeared on Autoblog on Thu, 16 Sep 2010 15:58:00 EST. Please see our terms for use of feeds.

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Marchionne shows 2012 Dodge Viper at dealer meeting

Filed under: Concept Cars, Coupe, Performance, Truck, Chrysler, Dodge, Jeep

Dodge Viper ACR – Click above for high-res image gallery

At yesterday’s Chrysler dealer conference, the Pentastar people publicly revealed new or updated products from Chrysler, Dodge, Jeep and Fiat. But there was more on stage than just a facelifted Town & Country and a federalized Fiat 500.

Towards the end of his remarks, Chrysler Group and Fiat CEO Sergio Marchionne pulled a Steve Jobs-style “one more thing,” and onto the stage rolled the 2012 Dodge Viper. According to our sources, the design was all-new, complete with an aggressive greenhouse and fresh, angular sheetmetal.

Jeep Gladiator Chrysler has already confirmed that the next Viper is on its way in two years’ time, but showing it off this early is a clear indication that work is well underway. There’s still some debate about what powertrain will be fitted to the thoroughly updated Viper, but early reports indicate that the same 8.4-liter V10 could carry on, possibly with the inclusion of Fiat’s MultiAir technology to reduce emissions and boost output over 700 horsepower. An entry-level V8 option is a possibility, and there’s little doubt that Dodge is tapping Ferrari’s engineers to advise on everything from handling to steering and stability control systems.

Another supposed cameo at the event was a Jeep pickup, similar to the Gladiator concept, however, we’ve yet to confirm its attendance or any serious production plans. But for the time being, we’re content with the knowledge that Dodge’s next supercar is in the wings and we’ll being seeing it in person within the next several months.

UPDATE: More details from the Wall Street Journal.

Gallery: 2008 Dodge Viper SRT10 ACR

Gallery: 2005 Jeep Gladiator Concept

Marchionne shows 2012 Dodge Viper at dealer meeting originally appeared on Autoblog on Wed, 15 Sep 2010 14:56:00 EST. Please see our terms for use of feeds.

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Marchionne: Chrysler profit not likely for 2010

Filed under: Plants/Manufacturing, Chrysler, Earnings/Financials, Fiat

Sergio Marchionne harbors no illusions about Chrysler being in the black for 2010. The Detroit News reports the Chrysler chairman and Fiat CEO stated flat out that a net profit in 2010 isn’t likely during an August 23rd tour of a Toledo Jeep plant. Despite recent reports of operating profits from Chrysler, there’s still tremendous cost associated with loan interest payments and a lineup of moribund product to turn over. Add to the mix the reintroduction of Fiat automobiles to the U.S. market, and you’ve got an outlook that’s best described as “challenging.”

Still, Marchionne told U.S. Vice President Joe Biden, also in attendance, that Chrysler is “ahead of plan” during the tour. That plan includes paying back its $12 billion in governmental loans and launching the Fiat 500 in North America. A meeting on August 30th will lay out the requirements for dealers interested in Fiat stores, and Marchionne reports strong interest.

Dealers that choose to take on Fiat must create standalone showrooms for the brand, requiring significant investment, though there’s little overlap between Fiat and Chrysler product lines to muddy sales efforts. Other rumors that Marchionne dodged were talk of a Jeep Liberty-based SUV to be built in Toledo, and whether or not an Alfa Romeo sedan will be built in Brampton, Ontario.

[Source: Detroit News]

Marchionne: Chrysler profit not likely for 2010 originally appeared on Autoblog on Tue, 24 Aug 2010 13:59:00 EST. Please see our terms for use of feeds.

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Marchionne: Chrysler earned operating profit in Q2

Filed under: Chrysler, Earnings/Financials, Fiat

Chrysler may be more than a little short on new products right now, but that apparently isn’t stopping Team Pentastar from bolstering its bottom line. The Detroit Free Press reports that Fiat/Chrysler CEO Sergio Marchionne told reporters that Chrysler managed to produce black ink between April and June. We won’t know exactly how much money Detroit-based automaker pulled in until August.

In any case, this counts as phenomenal news for the struggling automaker, which went through bankruptcy proceedings during the second quarter of 2009. Chrysler also posted an operating profit of $143 million in the first quarter, though one-time costs meant an overall loss of $197 million at that time.

While we’ll have to wait a couple more week for Chrysler’s official Q2 numbers, Fiat has already posted its results for the quarter. The Italian automaker managed a $146 million profit bolstered by a 12.5 percent increase in revenue. Global sales reportedly grew by 6.7 percent versus the same quarter in 2009, even with a 21.5 percent drop in sales in Italy. Fiat’s domestic market sales were negatively impacted due to the end of the country’s Cash for Clunkers-style program.

[Source: Detroit Free Press | Image: Joe Raedle/Getty]

Marchionne: Chrysler earned operating profit in Q2 originally appeared on Autoblog on Wed, 21 Jul 2010 18:59:00 EST. Please see our terms for use of feeds.

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