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Stellantis CEO Says 4th Largest Carmaker to Be Disruptive

Fiat Chrysler Automobiles and PSA Peugeot on Wednesday reported their last financial statements as independent companies, each contributing full-year profits of around 2 billion euros to the new company, Stellantis, formed in January.
Tags: Fiat Chrysler, PSA Peugeot


Stellantis Introducing 84 Hour Work Week in Sterling Heights

Stellantis is reportedly bringing back a controversial policy that would have skilled trade workers doing 12 hour days for 7 days a week as a way to maximize shift coverage. The original arrangement had staff pushing long hours only to be rewarded with a full week off. But it was temporarily nixed after workers complained […] The post Stellantis Introducing 84 Hour Work Week in Sterling Heights appeared first on The Truth About Cars.
Tags: Fca, Autos, UAW, Sterling Heights, Shap, News Blog, Union News, Fiat. Chrysler, Auto Workers, Factory News, Work Week, Stellantis, Skilled Trade, Skilled Trade Workers


Fiat Chrysler, PSA Profits Dropped in Pandemic Before Merger

Fiat Chrysler Automobiles and PSA Peugeot on Wednesday reported their last financial statements as independent companies, each contributing full-year profits of around 2 billion euros to the new company, Stellantis, formed in January.
Tags: Fiat Chrysler, PSA Peugeot, Fiat Chrysler PSA


Stellantis UAW workers will get $8,010 profit-sharing checks

Stellantis also reported earnings before interest and taxes of $4.47 billion for 2020 for Fiat Chrysler in its last year as a standalone company.
Tags: Fiat Chrysler, UAW, Stellantis


Nio falls as Chinese EV maker says chip shortage will dent second-quarter production

This photo taken on January 9, 2021 shows the NIO ET7, the flagship sedan for the Chinese electric car manufacturer, during its launch ceremony in Chengdu, in China's southwest Sichuan province. (Photo by STR / AFP) / China OUT (Photo by STR/AFP via Getty Images) (Photo by STR / AFP) / China OUT (Photo by STR/AFP via Getty Images) Nio stock fell by nearly 10% Tuesday after the electric car maker said it expects to produce 7,500 units per month in the second quarter.  Nio said it had be...
Tags: Auto, Electric Vehicle, China, Cars, Trends, Markets, Ford, Chips, Semiconductor, Sichuan, Chengdu, Fiat Chrysler, Nyse, Ev, Li, Jac


Fiat Chrysler Automobiles Pleads Guilty in U.S. Labor Probe

By David ShepardsonWASHINGTON (Reuters) - Fiat Chrysler Automobiles pleaded guilty on Monday to charges it conspired with company executives to...
Tags: Fiat Chrysler, David ShepardsonWASHINGTON, Reuters Fiat Chrysler Automobiles


Old-school Stellantis car factories gear up for the shock of electric

Vauxhall’s Ellesmere Port plant is one of many whose future lies in the hands of the merged auto giantCarlos Tavares is an unashamed petrolhead, with a rally-racing hobby that harks back to an earlier automotive age. Yet carmakers like Stellantis, which he leads, and its rivals have had to set aside affection for roaring internal combustion engines as environmental rules set the limits for the industry.Stellantis was formed in January in a €50bn (£43bn) merger between France’s Peugeot and Italia...
Tags: Business, France, Tesla, UK News, Engineering, Fossil Fuels, Travel and transport, Automotive Industry, Motoring, Electric, Hybrid And Low-emission Cars, Brexit, Vauxhall, Peugeot, Fiat Chrysler, Ellesmere Port


25 cars discontinued in 2021 that will disappear from US dealerships, from Ford's last sedan to fan-favorite small hatchbacks

Honda Fit. Honda More than two dozen 2020 vehicles won't be back for the 2021 model year.  As consumer demand shifts, many automakers are eliminating sedans, wagons, and hatchbacks.  Only one crossover won't make it to 2021: the Dodge Journey.  Visit Business Insider's homepage for more stories. The auto industry is in the midst of a crossover boom - and for every new compact crossover automakers bring to market, some sorry sedan or hatchback heads to the automotive graveyard.The list of m...
Tags: Transportation, US, America, Trends, Ford, Lexus, Auto Industry, Gm, Jaguar, Chevy, Lincoln, Bmw, Honda, Mercedes, Hyundai, Continental


iPhone maker Foxconn is developing an electric car with auto startup Fisker

The deal comes amid speculation about Apple's own electric-car ambitions. Fisker Startup carmaker Fisker and Apple supplier Foxconn announced a deal to build electric cars. The iPhone maker will produce more than 250,000 vehicles for Fisker each year starting in 2023.  It's the latest of multiple deals Foxconn has made recently in the automotive space.  Visit the Business section of Insider for more stories. Electric-car maker Fisker said it will work with Apple supplier Foxconn to pro...
Tags: Apple, Europe, India, Trends, Tesla, Taiwan, Electric, Henrik Fisker, Foxconn, Fiat Chrysler, Reuters, Fisker, Ben Klayman, Magna International Inc, Nikola, Cecile


Non-negotiable 'destination fees' are rapidly increasing on new vehicles, but there are ways to offset them

A car shopper looks at a window sticker in a dealership. Tim Boyle/Getty Images A new investigation conducted by Consumer Reports found that destination fees are rising. The fees are non-negotiable but are also not advertised in a vehicle's base price. To offset the rising fees, Consumer Reports recommends that buyers negotiate the bottom line. Visit the Business section of Insider for more stories. If you've ever examined a car's window sticker, there's usually something added onto the ve...
Tags: Transportation, Trends, General Motors, Ford, Gm, Car Buying, Autos, Consumer Reports, Fiat Chrysler, Don, Ford Bronco, Chrysler Dodge, Kristen Lee, Mike Monticello, Bronco Sport, BITranspo


A global chip shortage is wreaking havoc on everything from cars to game consoles. Here are the industries most affected by the ongoing scarcity.

The new iPhone 12 and iPhone 12 Pro. Majdi Fathi/NurPhoto via Getty Images A computer chip shortage caused by the pandemic is beginning to impact a range of industries.  The auto industry has been the hardest hit, leading some automakers to slash production.  The shortage is now affecting the smartphone, PC, and game console industries as well.  Visit the Business section of Insider for more stories. The coronavirus pandemic has caused a computer chip shortage, and it's wreaking havoc on t...
Tags: Apple, Microsoft, Ebay, China, US, Trends, Hp, Bloomberg, Intel, Features, Getty Images, Ford, Sony, Nvidia, Nintendo, Automotive Industry


Here are some of the car models most likely to be in shorter supply due to the global chip shortage

New Chevys for sale fill the lot at Raymond Chevrolet in Antioch, Illinois, July 17, 2014. John Gress/Corbis/Getty Images Car dealerships are already reflecting the slowdown in manufacturing due to the global chip shortage. Shoppers may see higher prices and lower availability of certain car models. Car companies began halting production in January and expect to lose billions this year. Visit the Business section of Insider for more stories. A global shortage of computer chips has caused s...
Tags: Transportation, Japan, News, Mexico, Cars, Trends, General Motors, Bloomberg, Ford, Gm, Chrysler, Toyota, Bmw, Volkswagen, Dodge, Honda


QOTD: What Should Happen to Chrysler and Dodge?

Stellantis leadership is going to have some tough decisions to make in regard to Chrysler and Dodge. While both brands are a shadow of their former selves, Fiat Chrysler viewed their rightsizing as more of a distillation process. Despite lacking the full complement of vehicles necessary to occupy every segment, the two have the oversized American […] The post QOTD: What Should Happen to Chrysler and Dodge? appeared first on The Truth About Cars.
Tags: Fca, Autos, Chrysler, Charger, Dodge, Pacifica, Fiat. Chrysler, Qotd, Durango, Challenger, News Blog, PSA Group, Question of the Day, Stellantis


Industry leaders urge Biden to take action as a critical shortage of computer chips could cost automakers billions

President Joe Biden delivers remarks in the State Dining Room at the White House on February 5, 2021. Stefani Reynolds-Pool/Getty Images A shortage of semiconductor chips could cost car companies as much as $61 billion this year.  Production has already been delayed at some Toyota, Nissan, Volkswagen and Ford plants. A group of executives at US chip companies urged Biden to prioritize funding for semiconductor manufacturing and research. Visit the Business section of Insider for more stori...
Tags: Apple, Transportation, Japan, News, Congress, Abc, Mexico, White House, Cars, US, Trends, Bloomberg, Joe Biden, Ford, Chrysler, Sia


Brazil’s Monkey nabs $6M Series A for financial marketplace

Monkey , a financial marketplace for receivables in Latin America, has raised $6 million in Series A funding. Quona Capital and Kinea Ventures co-led the round. The São Paulo-based startup was founded in 2016 by a trio that includes former Citi investment banker Gustavo Müller, Bruno Oliveira (who worked in strategic planning for Telefonica) and Felipe Adorno, an ex-senior developer for Netshoes and Infracommerce. Monkey has developed what it describes as Supply Chain Finance (SCF) pro...
Tags: US, Tech, Monkey, Brazil, Telefonica, Petrobras, Latin America, Sao Paulo, Fiat Chrysler, Citi, Müller, Whittle, Netshoes, Quona Capital, Supply Chain Finance, Itaú Unibanco


A critical shortage of computer chips could cost automakers billions this year - now a group of Senators wants the White House to step in

FILE PHOTO: VW re-starts Europe's largest car factory after coronavirus shutdown Reuters A shortage of semiconductor chips could cost car companies as much as $61 billion this year.  Production has already been delayed at some Toyota, Nissan, Volkswagen, Ford, and Fiat Chrysler plants. A group of lawmakers has urged the Biden administration to step in and help.  Visit the Business section of Insider for more stories. Several senators have called for the White House to combat a global c...
Tags: Apple, Transportation, Europe, Japan, News, Abc, Mexico, White House, Cars, US, Trends, Bloomberg, Vw, Ford, Chrysler, Toyota


Jeff Bezos is stepping down as Amazon CEO. Here's how he built Amazon into a $1.56 trillion company and became the world's richest person.

Amazon founder and CEO Jeff Bezos. David Ryder/Getty Images After 27 years, Jeff Bezos announced he is stepping down as CEO of Amazon on Tuesday. Bezos launched Amazon in 1995. The company has since grown to one of the most valuable, powerful companies on the planet with a market value of $1.56 trillion.  Bezos has gone from a New York hedge-funder to the richest man in the world, but in the process, he's weathered a high-profile divorce and hacking scandal, faced antitrust scrutiny from l...
Tags: Google, Amazon, Spacex, Elon Musk, New York, Texas, Microsoft, Congress, Washington Post, Washington, Life, Germany, India, New York City, US, America


Super Bowl Alert: Auto bowl looks grim, plus the focus on joblessness

Hello Super Bowl junkies, I’m Jeanine Poggi, Ad Age’s senior editor, continuing our countdown to Super Bowl LV. In the days leading up to the game, which will air on CBS on Feb. 7, Ad Age brings you breaking news, analysis and first looks at the high-stakes, Big Game commercials—all in our Super Bowl Alerts newsletter. Sign up right here to get them in your email. Sold out ViacomCBS announced it is “virtually” sold out of commercial inventory in Super Bowl LV. Despite concerns around COVI...
Tags: Abc, Advertising, NFL, America, General Motors, Joe Biden, Cbs, Toyota, Tracy Morgan, Audi, Hyundai, Kia, Jason Momoa, Fiat Chrysler, Cadillac, CareerBuilder


Fiat Chrysler agrees to plead guilty, pay $30M in UAW corruption probe

Fiat Chrysler Automobiles US has agreed to plead guilty and pay a $30 million fine for a corruption scandal at the union that represents its factory workers, authorities said Wednesday.
Tags: US, Fiat Chrysler, UAW


Why top automakers spend millions on concept cars they don't plan on making

Concept cars are big hits at auto shows, but the most daring designs rarely make it to production. They come in many shapes and sizes, are made for a variety of reasons, and can cost automakers millions to make. Business Insider spoke with the design department of some of the top automakers to find out why automakers spend millions on concept cars they don't plan on making. Visit Business Insider's homepage for more stories.  Following is a transcript of the video.Narrator: Concept cars: a glim...
Tags: Trends, Chrysler, Bmw, Volkswagen, Electric, Renault, Fiat Chrysler, David Woodhouse, Ralph, Lincoln Navigator, Klaus Bischoff, AJ Caldwell, Taro Ueda, Ralph Giles, Zipcar Driverless


A global computer chip shortage could mean $61 billion in lost sales for automakers like Toyota and Nissan

FILE PHOTO: VW re-starts Europe's largest car factory after coronavirus shutdown Reuters A global shortage of semiconductor chips could cause car companies to lose as much as $61 billion in revenue, Bloomberg reports. Production of several car models has already been delayed at some Toyota, Nissan, Volkswagen, Ford, and Fiat Chrysler plants. The supply chain disruption comes when the industry was just beginning to recover from COVID-19 lockdowns. Visit Business Insider's homepage for m...
Tags: Apple, Transportation, Europe, Japan, News, Abc, Mexico, Cars, US, Trends, Bloomberg, Vw, Ford, Chrysler, Toyota, Volkswagen


Cannes Lions finalizes in-person jury presidents, and Facebook outsources Trump ban verdict: Friday Wake-Up Call

Welcome to Ad Age’s Wake-Up Call, our daily roundup of advertising, marketing, media and digital news. If you're reading this online or in a forwarded email, here's the link to sign up for our Wake-Up Call newsletters. Cannes, contingent Cannes Lions announced its 2021 jury presidents—57% of whom will be women—who are now gearing up for an in-person Festival of Creativity in June. Fortunately, the Ascential-owned event is planning for a switch to remote judging in case the festival needs to ...
Tags: Facebook, Europe, Japan, France, Advertising, Bloomberg, Joe Biden, Netflix, Beijing, Tokyo, Nielsen, Pink, Illinois, Donald Trump, Ioc, International Olympic Committee


Stellantis jumps 11% in NYSE debut. Here's what you need to know about the world's fourth-largest automaker

Stellantis – the merged automaker of Fiat Chrysler and France-based Groupe PSA – is the world's fourth-largest automaker by volume.
Tags: France, Fiat Chrysler, Nyse, Groupe PSA


FCA & Groupe PSA Complete Merger to Create Stellantis, World’s Fourth-Largest Automaker

The merger between Peugeot S.A. (Groupe PSA) and Fiat Chrysler Automobiles N.V. (FCA) (NYSE: FCAU / MTA: FCA), which led to the creation of Stellantis N.V. (Stellantis), is official as of January 18th, 2021. The name derives from the Latin verb “stello,” meaning “to brighten with stars.” Stellantis Brands The merger of Groupe PSA and FCA will bring the following automakers together under the Stellantis namesake. As of this writing, Stellantis will be considered the world’s fourth-larges...
Tags: Milan, Berlin, Paris, Fca, Autos, New York Stock Exchange, Peugeot, Fiat Chrysler, Detroit Michigan, Audit Committee, Kevin Scott, Euronext, Henri de Castries, Carlos Tavares, Car News, Mercato Telematico Azionario


A 'Debilitating' Shortage of Computer Chips is Closing Auto Factories Worldwide

"American automakers are asking the U.S. government to help solve a debilitating shortage of computer chips that is closing auto factories worldwide and could restrict production until the fall," reports Bloomberg: The American Automotive Policy Council — a lobbying organization for General Motors Co., Ford Motor Co. and the U.S. operations of Fiat Chrysler Automobiles NV — is agitating with the U.S. Commerce Department and the incoming administration of President-elect Joe Biden to press Asian...
Tags: Mexico, Kentucky, Germany, Tech, Bloomberg, Joe Biden, Canada, Ford, Fiat Chrysler, Fiat Chrysler Automobiles NV, U S Commerce Department, General Motors Co Ford Motor Co, Matt Blunt, AAPC, American Automotive Policy Council


Amazon’s newest product lets companies build their own Alexa assistant

Amazon is selling access to the underlying technology stack of Alexa to let companies — starting with Fiat Chrysler Automobiles — build their own intelligent assistants with unique voices, skills and wake words. The new Alexa Custom Assistant product, which was announced Friday, can coexist and cooperate with the Alexa assistant. Theoretically, this means an automaker could choose to use the custom assistant to interact with drivers on specific products and services tied to the vehicle as well a...
Tags: Amazon, TC, Transportation, Tech, Automotive, Fca, Alexa, Fiat Chrysler, Amazon Amazon, Alexa Custom, Alexas Fiat Chrysler Automobiles, Alexa Custom Assistant


Amazon’s newest product lets companies build their own Alexa assistant for cars, apps and video games

Amazon is selling access to the underlying technology stack of Alexa to let companies — starting with Fiat Chrysler Automobiles — build their own intelligent assistants with unique voices, skills and wake words. The new Alexa Custom Assistant product, which was announced Friday, can coexist and cooperate with the Alexa assistant. Theoretically, this means an automaker could choose to use the custom assistant to interact with drivers on specific products and services tied to the vehicle as well a...
Tags: Amazon, TC, Transportation, Tech, Automotive, Fca, Alexa, Fiat Chrysler, Amazon Amazon, Alexa Custom, Alexa Custom Assistant


Toyota to pay $180M for failing to report emissions defects

By Tom Krisher | The Associated Press Toyota will pay $180 million to settle U.S. government allegations that it failed to report and fix pollution control defects in its vehicles for a decade. The company also agreed in court to investigate future emissions-related defects quickly and report them to the U.S. Environmental Protection Agency in a timely manner. “Toyota’s actions undermined the EPA’s self-disclosure system and likely led to delayed or avoided emissions-related recalls,” Audrey Str...
Tags: Apple, California, US, Tesla, Sport, Soccer, Manhattan, Toyota, Epa, Volkswagen, Justice Department, Fiat Chrysler, U S Environmental Protection Agency, Associated Press Toyota, TOM KRISHER, Audrey Strauss


US stocks edge higher as investors weigh vaccine hopes against fallout from Capitol riots

A specialist trader works at the post where Fiat Chrysler Automobiles is traded on the floor of the NYSE. Thomson Reuters US stocks eked minor gains on Tuesday as investors bet on stimulus and COVID-19 vaccines to fuel a swift economic rebound.Still, stocks' lofty valuations dragged on sentiments. Facebook and Twitter tumbled for a second straight day after both companies banned President Trump for his role in last week's Capitol riots.Bitcoin recovered slightly from its Monday nosedive but...
Tags: Facebook, Twitter, Softbank, US, Trends, Markets, Treasury, Oil Price, Biden, Donald Trump, Gold Price, Equities, Btc, S&P 500, Cnbc, Dow Jones Industrial Average