| Naamloze vennootschap |
(public limited company)
|Traded as|| BIT: FCA |
FTSE MIB Component
|Predecessors||Fiat S.p.A. and Chrysler Group|
|Founded||12 October 2014|
|Headquarters||Amsterdam, Netherlands (Head office), |
United Kingdom (Financial office)
| John Elkann (Chairman)|
Mike Manley (CEO)
|Owner||Exor N.V. (29.4%)|
Number of employees
Fiat Chrysler Automobiles N.V., often abbreviated as FCA, is an Italian-American multinational corporation and is the world's eighth largest auto maker.The group was established in October 2014 by merging Fiat and Chrysler into a new holding company. Fiat Chrysler Automobiles' corporate headquarters is domiciled in Amsterdam, and the financial headquarters are in London, both for tax purposes. The holding company is listed on the New York Stock Exchange and Milan's Borsa Italiana. Exor N.V., an Italian investment group controlled by the Agnelli family, owns 29.19% of FCA and controls 44.31% through a loyalty voting mechanism.
FCA's mass-market brands operate through two main subsidiaries: FCA Italy (previously Fiat Group Automobiles SpA) headquartered in Turin; and FCA US (previously Chrysler Group LLC) headquartered in Auburn Hills, Michigan (part of Metro Detroit). The company's portfolio includes automotive brands Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep, Lancia, Maserati, and Ram Trucks. Ferrari was spun off from the group in 2016.Today FCA operates in four global markets (NAFTA, LATAM, APAC, EMEA).
On 31 October 2019, FCA announced intent to merge with Groupe PSA (owner of the Peugeot and Citroën brands among others). The merger would be on a 50-50 all stock basis.
FCA also owns industrial subsidiaries Comau and Teksid.
The CEO and executive management including twenty-two employees work between Auburn Hills, Michigan and Turin, Italy.The other operating activities of the new group remained unchanged, with manufacturing, design and engineering facilities remaining in Turin, Italy, Auburn Hills, Michigan, United States and other locations worldwide, including Canada, India, Mexico, Brazil, Argentina, Poland, and China.
Executive members of the FCA Board of Directors as of October 2018 are John Elkann (Chairman) and Mike Manley (Chief Executive Officer), with non-executive directors Ronald L. Thompson, Andrea Agnelli, Tiberto Brandolini d'Adda, Glenn Earle, Valerie A. Mars, Ruth J. Simmons, Patience Wheatcroft, Stephen Wolf and Ermenegildo Zegna, CEO of Ermenegildo Zegna.
FCA carries out its mass-market automotive operations through two main subsidiaries: FCA Italy (previously Fiat Group Automobiles)and FCA US (previously Chrysler Group). Both name changes were announced in December 2014.
FCA Italy includes the Italian-based brands that include Abarth, Alfa Romeo, Fiat, Fiat Professional, Lancia and the engine manufacturing subsidiary VM Motori.
FCA US includes the American-based brands that include Chrysler, Dodge, Jeep, and Ram, plus the Mopar service and parts organization.
Other companies include luxury car (Maserati) as well as firms working on production automation (Comau) and metal foundry (Teksid, 84.8% share). Other joint ventures and subsidiaries are undertaken via the FCA Italy and FCA US companies.
In early 2019, FCA sold auto-parts maker Magneti Marelli for 6.2 billion euros to Calsonic Kansei, a Japan-based company owned by American buyout firm KKR.
The integration between Fiat and Chrysler dates back to 2009 after Chrysler filed for Chapter 11 bankruptcy reorganization on 30 April 2009. On 10 June 2009, Chrysler emerged from the bankruptcy proceedings with the United Auto Workers pension fund, Fiat, and the U.S. and Canadian governments as principal owners. Fiat's initial purchase was a 20% stake in the company. By January 2012, Fiat's equity stake in Chrysler grew to 58.5%. On 21 January 2014 Fiat completed the acquisition of the remaining 41.5% from the United Auto Workers, making Chrysler Group a wholly owned subsidiary. On February 2, 2014, Fiat Chrysler began trading on the NYSE under the ticker symbol "FCAU". US$4.9 billion, with an additional US$5.5 billion pension liability.Overall, to acquire Chrysler cost Fiat
On 29 January 2014 Fiat announced a reorganization and intended merger into a new holding company.
Fiat S.p.A. and Chrysler Group LLC merged into FCA on 12 October 2014 following approval of the board on 15 June 2014 and shareholders on 1 August 2014.
On 29 October 2014 the group announced the intention to separate Ferrari S.p.A. from FCA. The transaction was completed on 3 January 2016.
On July 14, 2015, Fiat Chrysler Automobiles NV chief executive Sergio Marchionne and Dennis Williams, President of the United Auto Workers (UAW) entered into negotiations on July 14, 2015.As negotiations between the UAW and "Detroit Three automakers" began, "Marchionne leaned in to embrace Williams in a hug seen "round the world," shocking some union members. When Marchionne made the announcement on January 8, 2017 that Chrysler planned to add 2,000 jobs and invest $1 billion to manufacture the Jeep Wagoneer and Grand Wagoneer at the Warren Truck Assembly and to make a new Jeep Wrangler pickup at its Toledo Assembly South plant in Toledo, Ohio by 2020, Marchionne credited the decision to the negotiations with Williams that began in 2015.
On January 13, 2017, the company came under investigation by the U.S. Justice Department due to allegedly failing to disclose software that violated emissions standards and allowed vehicles to exceed pollution limits.On May 23, 2017, the Justice Department filed a civil lawsuit alleging that FCA "used a 'defeat device' to circumvent emission controls" in more than 100,000 vehicles between 2014 and 2016.
In January 2016, Ferrari became a separate investment of Exor, siding with FCA and CNH, after FCA listed 10% of the company on the NYSE in October 2015, and then distributed their remaining 80% stake in Ferrari to FCA shareholders. Ferrari now trades on the NYSE under the ticker symbol "RACE".
FCA also operated in the print media and advertising fields through its Italiana Editrice subsidiary (publisher of the Italian La Stampa and Il Secolo XIX newspapers) and an interest in RCS Media Group. In March 2017, FCA was a stakeholder in the creation of Italy's largest media group GEDI Gruppo Editoriale, created by the merger of Gruppo Editoriale L'Espresso publishing L'espresso and La Repubblica with Italiana Editrice (ITEDI), of which FCA held 77% of the shares and which publishes the Torino daily La Stampa and Il Secolo XIX. Subsequently, FCA divested from publishing by distributing their shares to its own shareholders, again mainly Exor, so to concentrate on automobile business. Exor sold their shares in GEDI right after getting them.
On July 21, 2018, FCA's chief executive Marchionne was suddenly replaced in all of his positions at FCA, Ferrari, SGS and CNH following emergency meetings of each respective company's board of directors the day before.Marchionne last appeared in public on June 26 in Italy, where he appeared to be quite lethargic and fatigued. FCA stated on July 5 that he had taken medical leave to undergo surgery to his right shoulder and on the day of his replacement stated that he would not be able to return to work due to post-surgical complications. It was later reported that his health had deteriorated "suddenly and sharply" and that Marchionne had lapsed into a coma. Sergio Marchionne died on July 25, 2018, aged 66. In July 2018, Fiat Chrysler Automobiles NV's European chief Alfredo Altavilla resigned after being passed over to replace Marchionne.
In January 2019, Fiat Chrysler agreed to pay $800 million to settle lawsuits related to diesel emissions.
In February 2019, Fiat Chrysler announced to invest $4.5 Billion in Manufacturing in Michigan.The plant is estimated to create nearly 6,500 jobs. Plans include $1.6 billion to build a Jeep factory in Detroit.
In May 2019, Fiat Chrysler proposed merging its business with Renault.The proposal was later withdrawn.
On May 6, 2014, Fiat Chrysler Automobiles announced its 5-year business plan.The company expects that sales will increase to 7 million units, revenues to €132 billion, net income to €5 billion and industrial debt will peak at €11 billion in 2015, and then reduce to €0.5-1 billion by end of 2018. The Group updated its business plan targets in January 2016 at the time FY 2015 were announced.
Much of the global growth will be focused around Jeep, due to its high visibility globally as well as the growing SUV market in developing markets. Chrysler will be re-positioned as the company's mainstream North American brand to compete with Ford, Chevrolet, Toyota, and Volkswagen, while Dodge will focus on performance-based vehicles. Alfa Romeo will become the company's premium marque to compete with Mercedes-Benz, BMW, and Audi, while Maserati will be the company's ultra-luxury brand to compete with Bentley and Rolls-Royce. Fiat (which will remain the company's mainstream brand outside North America) and Ram Trucks will remain largely unchanged, while SRT was merged back into Dodge.Conspicuously absent in the announcement was Lancia, which was later confirmed to be withdrawing from all markets outside Italy .
In 2014, Alfa Romeo launched the 4C and 4C Spider in North America. In 2015, the Giulia was announced and in 2016 they added a SUV named Stelvio. The 4C was dropped from the lineup with 2019 as the last production year. FCA announced a mid-cycle refresh for both the Giulia and Stelvio for production year 2021. Until then some minor technology updates with new interiors and paint schemes.
In 2014, Chrysler released a refreshed 300/300C, set by FCA to debut at the Los Angeles Auto Show. A new Chrysler Pacifica In 2017, the Chrysler 200 will be discontinued.
The first announcement was that the SRT brand was to be put back into Dodge. In 2015, the refreshed Charger launched along with the refreshed Challenger (and equivalent SRT version). The Dodge Charger SRT Hellcat and Challenger SRT Hellcat were also launched.2014 was also the last model year for the Dodge Avenger. In 2016, the new Dodge Dart (and Dodge Dart SRT) was to be launched, along with a new Dodge Journey. The two models have since been either slated for discontinuation (Dodge Dart, 2016), or the date for the redesigned version was pushed back (Dodge Journey, 2018). In speculation, in 2017, a new Dodge Journey SRT will arrive, along with a refreshed Dodge Durango. In 2018, a new sedan and hatchback will launch, a new Challenger (and SRT version) will be unveiled, along with a new Charger (and SRT version). In April 2017, Dodge announced the release of the brand-new 2018 Dodge Demon. The Demon comes equipped with a 6.2L V8 HEMI mated to a 2.7L supercharger, which allows the Demon to produce 840 horsepower and 770 lb-ft of torque at the crank, which makes the Dodge Demon the world's quickest production vehicle. The Demon's excessive torque causes the front axle to lift off of the ground during launch. The Demon is also equipped with many other industry-first features, including a Transbrake, launch control systems, 5 point harness occupant restraints, and an HVAC system that actually produces additional horsepower by further cooling intake air.
Update: New Charger,Challenger, and 300 replacements will begin in production in late 2020, as 2021 models. They will remain RWD or AWD, with 6 and 8 cylinder engines. The Charger Pursuit will continue on as America's only Pursuit-rated sedan. The 300 replacement is rumored to be not a CUV or an SUV, but a new wagon.
In 2015, Fiat launched the new Fiat 500X (produced in Melfi, Italy) and the Fiat Aegea (produced in Turkey by JV partner Tofas and sold in Europe under the Fiat Tipo nameplate and Mexico as the Dodge Neon).
Lancia is an historic brand of Italian luxury and performance cars.
In 2014, the Maserati GranTurismo and GranCabrio will see the end of the nameplate (until 2018). In 2016, the new Maserati Levante SUV was launched. In 2018, a new GranTurismo will be launched with a 560-horsepower V8 and rear wheel drive. Between 2014-2018, the top of the line Maserati Quattroporte GTS will be receiving a 560-horsepower V8 with all-wheel drive to replace the current 523 horsepower V8 with rear wheel drive in the GTS model. The top of the line Ghiblis and Levantes will be receiving the same setup as the Quattroporte. In 2020, the Maserati Alfieri will be launched. The car was originally going to be released in 2016, but was postponed to allow the Levante to be launched for 2016. The year after in 2021, a convertible variant of the Alfieri will be launched. The top of the line Alfieri will be receiving a 520-horsepower V6 with all-wheel drive.
In 2014, the Jeep Renegade was launched. After a long absence, Jeep returned to Malaysia, where DRB-Hicom distributes the brand's vehicles.In 2015, the Jeep Grand Cherokee was refreshed, with celebrities Fan Bingbing, Tina Fey, Sandra Bullock, Julia Roberts and Cate Blanchett promoted as brand ambassadors. 2016 marked the 75th anniversary of Jeep, and the Jeep Compass and Jeep Patriot had their last model year while a refreshed Jeep Cherokee was introduced. In 2017, the Jeep Renegade was refreshed. In 2018, a new Jeep Wrangler is being launched, as well as a new Grand Cherokee. Later, a luxury Grand Wagoneer SUV model will be launched to compete with the likes of Mercedes-Benz G-Class and Range Rover.
Fiat Chrysler plans to add more factory capacity over the next few years to support building two new Jeep models, including a return of the Jeep Grand Wagoneer. Though it is not sure as to how many jobs Fiat Chrysler might add or how much time it may take for the new assembly lines to be up and running.
In 2014, a ProMaster van was launched, along with the smaller ProMaster City, derived from Fiat Ducato and Fiat Doblò respectively.In 2017, a new Ram 1500 was launched, and a commercial light-duty truck was refreshed. In 2018, a new Ram HD was launched, along with a commercial heavy-duty truck, and Ram chassis cab received a major update.
In 2015 worldwide shipments were 4.6 million units, revenues totaled €113.2 billion, up 18% (+6% at constant exchange rates, or CER), adjusted EBIT was €5.3 billion, up 40% and Adjusted net profit was €2.0 billion, up 91%.
The new FCA logo was created by the Italian branding company Robilant Associati,ending the use of the Fiat S.p.A. logo and Chrysler Pentastar logo for group branding.
Chrysler is one of the "Big Three" automobile manufacturers in the United States, headquartered in Auburn Hills, Michigan. The original Chrysler Corporation was founded in 1925 by Walter Chrysler from the remains of the Maxwell Motor Company. In 1998, it was acquired by Daimler-Benz, and the holding company was renamed DaimlerChrysler. After Daimler divested Chrysler in 2007, the company existed as Chrysler LLC (2007–2009) and Chrysler Group LLC (2009–2014) before merging in 2014 with Italian holding company Fiat S.p.A. and becoming a subsidiary of its successor Fiat Chrysler Automobiles. In addition to the Chrysler brand, FCA sells vehicles worldwide under the Dodge, Jeep, and Ram nameplates. Furthermore, the subsidiary includes Mopar, its automotive parts and accessories division, and SRT, its performance automobile division.
Fiat S.p.A., or Fabbrica Italiana Automobili Torino, was an Italian holding company whose original and core activities were in the automotive industry, and that was succeeded by Fiat Chrysler Automobiles NV (FCA). The Fiat Group contained many brands such as Ferrari, Maserati, Fiat, Alfa Romeo, the Chrysler Group, and many more. On 29 January 2014, it was announced that Fiat S.p.A. was to be merged into a new Netherlands-based holding company Fiat Chrysler Automobiles NV (FCA), taking place before the end of 2014. Fiat Chrysler Automobiles became the new owner of Fiat Group. On 1 August 2014, Fiat S.p.A. received necessary shareholder approval to proceed with the merger. The merger became effective 12 October 2014.
Maserati is an Italian luxury vehicle manufacturer. Established on 1 December 1914, in Bologna, Italy, Maserati's tagline is "Luxury, sports and style cast in exclusive cars", and mission statement is to "Build ultra-luxury performance automobiles with timeless Italian style, accommodating bespoke interiors, and effortless, signature sounding power".
John Philip Jacob Elkann is an American-Italian industrialist. He was the chosen heir of his grandfather Gianni Agnelli, and chairs and controls the automaker Fiat Chrysler Automobiles, which has formerly represented 4.4% of Italy's GDP. He is the chairman and CEO of Exor, the holding company controlled by the Agnelli family, which also owns Partner Re and holds a controlling stake in Ferrari, CNH Industrial and Juventus F.C. In July 2018 he was appointed as chairman of Ferrari after Sergio Marchionne had to leave due to health issues.
Tofaş is a Turkish automaker which was established in 1968 by Vehbi Koç, who was the founder of Koç Holding, based in Bursa, Turkey, where the manufacturing plant of the company is located. It is jointly owned by Fiat Chrysler Automobiles and Koç Holding.
Street & Racing Technology is a high-performance automobile group within Fiat Chrysler Automobiles. SRT began as "Team Viper" to develop the Dodge Viper. It later merged with "Team Prowler", the developers of the Plymouth Prowler, to become Specialty Vehicle Engineering (SVE). This was renamed Performance Vehicle Operations (PVO) from January 2002 till 2004. Since all PVO vehicles used the "SRT" marquee, the development team itself was renamed SRT in 2004. SRT heavily tunes and produces vehicles for the Chrysler, Dodge, and Jeep brands.
Sergio Marchionne was an Italian-Canadian businessman, widely known for his turnarounds of the automakers Fiat and Chrysler, his business acumen and his outspoken and often frank approach, especially when dealing with unpalatable issues related to his companies and the automotive industry.
The Dodge Journey is a mid-size crossover SUV manufactured and marketed by FCA US LLC's Dodge brand since model year 2009, with a major facelift for the 2011 model year.
Fiat Automobiles S.p.A. is an Italian automobile manufacturer, a subsidiary of FCA Italy S.p.A., which is part of Fiat Chrysler Automobiles. Fiat Automobiles was formed in January 2007 when Fiat reorganized its automobile business, and traces its history back to 1899 when the first Fiat automobile, the Fiat 4 HP, was produced.
FCA India Automobiles Private Limited (FCAIPL) formerly known as Fiat Group Automobiles India Private Limited was formed in the year 2012 as a fully owned direct subsidiary of FCA Italy. The new company was established for production of cars and engine under the brand Fiat, Abarth and Jeep. It is the ninth largest Indian car manufacturer by sales in India.
The Chrysler 200 is a five-passenger mid-sized automobile that was manufactured and marketed by Chrysler from model years 2011 to 2017 across two generations in four-door sedan and two-door convertible body styles.
The Dodge Dart is a transverse front-engine, front-wheel drive, four-door compact sedan manufactured and marketed by FCA US LLC, a subsidiary of Fiat Chrysler Automobiles. The automobile made its debut at the 2012 North American International Auto Show in Detroit, Michigan. In some non-US markets, the Dodge Dart is sold as the Fiat Viaggio.
GAC Fiat Chrysler Automobiles Co., Ltd. is an automobile manufacturing company headquartered in Changsha, China and a 50:50 joint-venture between GAC Group and Fiat Chrysler Automobiles. The company was founded on 9 March 2010. Fiat agreed to invest an initial US$559 million in the venture.
FCA Italy S.p.A., also simply referred to as Fiat and formerly known as Fiat Group Automobiles S.p.A., is the Italian subsidiary of the Italian-American automaker Fiat Chrysler Automobiles, dedicated to the production and selling of passenger cars and light commercial vehicles and headquartered in Turin, Italy.
FCA Bank, a joint venture between Fiat Chrysler Automobiles Italy S.p.A. and Crédit Agricole Consumer Finance S.A is a bank dedicated to motorists, which mainly operates in the automotive financing sector and cooperates with prestigious automotive brands as well as motorhome and caravan manufacturer Erwin Hymer Group.
Lorenzo Ramaciotti is an Italian car designer. Ramaciotti started his career with Pininfarina in 1972 and retired in 2005. In 2007 he became Group Chief of Design at Fiat Group Automobiles, responsible for all the Fiat Group brands, including Alfa Romeo, Lancia and Maserati. In 2015 he was replaced by Ralph Gilles.
The FCA Global Medium Engine is a family of engines created by the powertrain division of Fiat Chrysler Automobiles group and in production since 2016.
The Fiat Tipo, is a compact car. Its sedan version was unveiled at the 2015 Istanbul Motor Show in May 2015, and commenced sales in Turkey in October 2015. The sedan is not offered by Fiat in the United Kingdom.
Olivier François is a French business executive and the current President of Fiat Automobiles Brand Global. He is also FCA Group's Chief Marketing Officer and, as well as a member of the Group Executive Council at Fiat Chrysler Automobiles, positions he has held since September 2011. For his attention to creativity, he has been referred to as "Chrysler's Don Draper".
Michael Manley, often known as Mike Manley, is an English businessman. He was appointed as CEO of Fiat Chrysler Automobiles (FCA) in July 2018, following the announcement that previous CEO Sergio Marchionne would step down due to health reasons. Prior to being named CEO, Manley had served as head of FCA's Jeep division since 2009.