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Fiat Chrysler fined US$40 million for inflating sales figures

Fiat Chrysler Automobiles (FCA) has settled with the US Securities and Exchange Commission (SEC) over accusations it inflated sales figures between 2012 and 2016. The Detroit (and Turin) giant will pay US$40 million ($59 million) and has promised to stop the dodgy practices...

Renault could reduce Nissan stake to revive Fiat Chrysler merger - report

Renault and Nissan are reportedly in talks to rebalance their alliance with the aim of restarting Renault's proposed merger with Fiat Chrysler (FCA). Sources have told The Wall Street Journal about the discussions, which centre around plans to reduce Renault's 43.4 per cent shareholding in Nissan...

Lee Iacocca, father of the Mustang, saviour of Chrysler, dies age 94

Lee Iacocca, father of the legendary Ford Mustang, has passed away due to complications related to Parkinson's disease. Born on October 15, 1924, in Allentown, Pennsylvania, Lido Anthony Iacocca was the son of Italian immigrants. His father Nicola started his working life as a hot-dog seller...

Japanese government may have helped to kill Renault, Fiat Chrysler merger - report

Japanese worries about the proposed merger's effects on the 20-year old Renault and Nissan alliance may have scuppered the proposed US$35 billion ($51 billion) merger between Renault and Fiat Chrysler (FCA). Sources have told Bloomberg Japanese officials informed their French counterparts about fears the proposed Fiat Chrysler and Renault merger could harm Nissan...

Bill Ford discussed merger with Fiat Chrysler

Bill Ford, chairman of Ford, has revealed he had discussions with Sergio Marchionne, then-CEO of Fiat Chrysler (FCA), about merging the two companies. At the EcoMobility conference in Tel Aviv, Ford revealed to journalists, including those from Automotive News Europe, he had a "number of dinners together [with Marchionne] talking about ..

Fiat Chrysler and Renault in talks to revive merger - report

High-level discussions are reportedly taking place between Renault and Fiat Chrysler (FCA) aimed at reviving the merger between the two companies, and gaining the approval of Nissan, Renault's alliance partner. Three sources have told Reuters John Elkann, chairman of FCA, has had talks with Jean-Dominique Senard, Renault's chairman, and Thierry Bollore, the French automaker's CEO, about bringing the proposed merger between the two companies back to life...

FCA withdraws Renault merger proposal

Fiat Chrysler Automobiles (FCA) has announced it's withdrawing its proposal to merge with Groupe Renault, in a press release issued this morning. "The Board of Fiat Chrysler Automobiles N.V., meeting this evening under the Chairmanship of John Elkann, has resolved to withdraw with immediate effect its merger proposal made to Groupe Renault," the statement said...

Nissan sees no 'negative aspect' to Renault and FCA's merger

Nissan has reportedly rebuffed plans to merge with Renault, but the Japanese automaker is unlikely to oppose the proposed merger between Fiat Chrysler (FCA) and Renault. "Overall, we don't see any particularly negative aspect," Hiroto Saikawa, Nissan CEO, told reporters (including those from Reuters) after a meeting of the Renault-Nissan-Mitsubishi Alliance board...

Renault to decide on Fiat Chrysler merger by next week - report

  Renault could respond to the "transformative merger" offer from Fiat Chrysler (FCA) as early as next week. Sources have told Reuters the Renault board won't dawdle in deciding whether to accept Fiat Chrysler's offer for a 50/50 merger worth $52.7 billion...

Fiat Chrysler in discussions with Renault, could join alliance with Nissan - report

Discussions initially focussed on Fiat Chrysler (FCA) using platforms and technologies from Renault have reportedly morphed into something more complex and wide-ranging. Multiple sources have told The Financial Times the talks between FCA and Renault are on-going, with a lot of structures and options currently being evaluated...

Fiat Chrysler completes sale of Magneti Marelli parts division

Fiat Chrysler (FCA) has completed the sale of it Magneti Marelli parts division to Calsonic Kansei for €5.8 billion ($9.2 billion) in cash. The sale price was adjusted down from the €6.2 billion ($9.8 billion) figure announced last year, as Magneti Marelli's financial position had changed...