Famed auto executive and visionary Lee Iacocca has died, leaving a legacy of leadership, ingenuity, and a no-nonsense approach to the design, sale, and financing of American vehicles.
Fiat Chrysler has backed out of a proposed merger with Renault, blaming ‘political conditions’ in France, whose government owns a 15% share of Renault. A week ago, the companies were poised to form the world’s third-largest automaker.
Kelley Blue Book analysts say a parade of new models helped drive the average price for a new vehicle sold in the U.S. to $37,185 in May, a 3.7% year-over-year increase.
The chairman of Fiat Chrysler Automobiles is pushing a proposal that would merge the Italian-American carmaker with France’s Renault, creating the world’s third-largest manufacturer.
U.S. manufacturers and dealers are knocking on the door of the all-time record for days’ supply of new vehicles, an issue compounded by higher floorplan expenses, according to the latest figures from Automotive News.
Fiat Chrysler has settled a lawsuit brought by seven dealers who leveled charges of antitrust violations and breach of contract in federal court, claiming the factory and competing dealerships conspired to falsify new-vehicle sales reports.
Fiat Chrysler Automobiles has named Ram truck and Jeep head Michael Manley as its chief executive officer, after medical complications forced Sergio Marchionne to step away from the company.
Despite the expected decline, October looks to be relatively strong on strong replacement demand in hurricane-impacted states and higher incentive spending. Kelley Blue Book analysts, however, believe these are indicators that new-vehicle demand is still contracting.
The average transaction price rose despite mixed results for major automakers, with Fiat Chrysler topping the list with a 6.1% year-over-year increase in the brand’s average price.
The Department of Justice filed the complaint on May 23, claiming FCA installed the software in 104,000 diesel Ram 1500 and Jeep Grand Cherokee vehicles. The filing comes days after FCA submitted a proposed software modification to resolve the issue.
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