Fiat Chrysler Automobiles (FCAU) Shares Sold by D.A

Fiat Chrysler Automobiles (FCAU) Shares Sold by D.A

Fiat Chrysler Automobiles (FCAU) Shares Sold by D.A

CEO Sergio Marchionne also said the company would be debt free by the end of the month.

Fiat will be making the move to an electric-only brand, akin to Mercedes-Benzes smart. "By the time we finish this architecture, you will not recognize it in terms of its origins", Marchionne said.

Unveiling the company's plans through 2022, long after his planned retirement next year, Marchionne said Fiat Chrysler will invest 9 billion euros ($10.5 billion) as it tries to catch up in the market for gas-electric hybrids and fully electric vehicles, without forsaking a core market that still wants internal combustion engines. The firm said it aims to double profit over the next five years, generating about 30 billion euros ($35 billion) in industrial free cash flow in that span. Fiat Chrysler has no plans to spin off its Alfa Romeo and Maserati brands, Marchionne said. Truck maker Ram will limit its alternative powertrains to a high-end premium truck, the TRX, which will compete with Ford's Raptor.

The 2019 Jeep Cherokee, on display at the North American International Auto Show in Detroit on January 16, 2018. To that end, FCA will have plug-in hybrids across the range by the end of the business plan. The Alfieri, Alfieri Cabrio, Quattroporte, and Levante will be available as pure battery-electric vehicles under the new Maserati Blue sub-brand. Kuniskis, the former head of Dodge, said the new crossover would feature 50/50 weight distribution and a best-in-class power-to-weight ratio to boost its performance against competitors in the crowded segment. But as expected, the announcements mainly focused on four of the names in FCA's portfolio: Jeep, Ram, Maserati, and Alfa Romeo, each of which has big things in store. The Grand Caravan continued to be Dodge's best-selling vehicle, with a total of 15,487 units sold in May. During the same quarter in the prior year, the company posted $0.43 EPS. equities research analysts expect that Fiat Chrysler Automobiles will post 3.93 earnings per share for the current year.

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Investors had also anxious that Fiat Chrysler's plan for a captive-finance unit would hurt the $143 billion-asset Ally Financial in Detroit, whose shares fell as much as 3% on Wednesday on the news.

The Chrysler division's future has been the subject of speculation for years, and rumors of its demise began to circulate ahead of Friday when FCA revealed its five-year plan to investors at its test track in Balocco, Italy.

Santander has struggled to reach market share targets that it set along with Fiat Chrysler as part of the 10-year financing agreement the two companies signed in 2013.

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