sergio marchionne

VW Closing Purchase of Porsche. Still Eyeing Alfa-Romeo

German automaker Volkswagen this week is expected to complete its long-planned $4.5 billion acquisition of luxury sports car maker Porsche. When the ink is dry, it will formally add Porsche to a brand stable that includes Audi, Bentley, Lamborghini and Bugatti, as well as mass-market brands Volkswagen, Skoda and Seat.

And VW AG supervisory board chairman, billionaire Ferdinand Piech (grandson of Porsche founder Ferdinand Porsche) isn't through trying to add premium and luxury brands. At the Geneva Motor Show this week Piech reiterated his interest in acquiring Italian brand Alfa Romeo, owned by Fiat, despite public statements by Fiat CEO Sergio Marchionne that the marque is not for sale.

Tags: alfa romeo, Aventador, bentley, Bugatti, Ferdinand Piech, Fiat, Geneva Motor Show, Lamborghini, Porsche, Sergio Marchionne, Volkswagen AG

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Maserati Plans SUV Made In Detroit With Ferrari Engine

by David Kiley (RSS feed) —

Filed under: Luxury Cars & Autos

How is this for a mixed pedigree? Chrysler, which is managed by Fiat executives these days, plans to build a Maserati SUV in Detroit at an assembly plant that kicks out Jeep Grand Cherokees and Dodge Durangos, which are built on an engineering platform developed with Mercedes-Benz for its M Class SUV stemming from when Chrysler was owned by Daimler.

Now comes word that the forthcoming Maserati SUV will be fitted with a Ferrari engine. Fiat also owns Ferrari, which has supplied engines to Fiat's Lancia, Alfa-Romeo, Maserati cars, as well as Formula One teams.

"It will be a rock and roll engine," said Fiat-Chrysler CEO Sergio Marchionne. It may come in both a V-8 and a V-12 version, said the CEO in a roundtable interview at the North American International Auto Show that included Luxist.com

The SUV should be ready for Maserati showrooms worldwide in 2012.

Tags: Ferrari, Jeep Grand Cherokee, Maserati SUV, North American International Auto Show, Sergio Marchionne

Fiat Ponders Selling Alfa Romeo to VW

by David Kiley (RSS feed) —

Filed under: Luxury Cars & Autos

While Sergio Marchionne, CEO of both Italian automaker Fiat and American automaker Chrysler, busies himself with fixing Chrysler and taking the mostly government-owned automaker into the public markets next year, he is wrestling with the dilemma of whether to sell Fiat's beloved, but money-losing, Alfa Romeo brand to Volkswagen.

The companies have been negotiating the possible sales, according to industry sources, confirming a report in Automotive News.

Volkswagen supervisory board chairman Ferdinand Piech has recently taken the unusual course of publicly stating that VW would like to buy Alfa, and that it believes as a company that it could turn the Italian brand around to profitability more easily than Fiat. That move was probably meant to inform industry analysts, and thus pressure Fiat to sell.

VW, of course, has made a business the last decade or more of collecting brands. Today, the VW Group includes not only VW, but Audi, Bentley, Lamborghini, Bugatti, Skoda, Seat and most recently, Porsche.

Tags: Alfa Romeo, Alfa Romeo 159, alfa romeo giulietta, alfa romeo spider, AlfaRomeoMito, chrysler, sergio marchionne, volkswagen

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LA Auto Show: Will The Fiat 500 Draw Luxe Buyers in America?

by David Kiley (RSS feed) —

Filed under: Luxury Cars & Autos

Fiat is not a luxury brand in Europe and South America where its vehicles are primarily sold. And neither has MINI been a luxury brand. But just as MINI has created a small-car premium category that has attracted many luxury car owners, Fiat is hoping to draw the same customers with its 500 model, which will go on sale in the U.S. starting in January.

The 500 has been on display at previous U.S. auto shows, but it was in Los Angeles, that the automaker unveiled the final version. It is slightly different than the model Fiat already sells in Europe, with changes made to the front end and rear-end to comply with U.S. safety standards.

With a starting price of $15,500, the 500 can hardly be called "luxe." But the car, which will go on sale in about 130 Chrysler Group LLC dealerships across the country, is only about $500 less to start than the BMW Mini Cooper.

But just as options and accessorizing can drive a MINI Cooper price up well above $20,000, even close to $30,000, Fiat is hoping the 500 has cachet enough to attract people who will pay up to personalize it.

Pricing for the 500 starts at $15,500 for the base model, which is referred to as the Fiat 500 Pop. The 500 Sport is priced at $17,500 and the top-shelf 500 Lounge will cost you $19,500.

Gallery: Fiat 500 for USA

Tags: Fiat 500, LA Auto Show, Los Angeles Auto Show, sergio marchionne

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UBS Loses Fiat/Chrysler and Shell Oil CEOs from Board of Directors

by Noah Joseph (RSS feed) —

In today's economy, few industries are hurting as much as automobiles and finance. And while there are more than a few shining stars working on fixing both, by and large they're not the same people. Against this backdrop, the chief executives of Fiat and Chrysler on the one hand and Shell oil on the other are stepping down from the board of Swiss banking giant UBS.

Sergio Marchionne, who is currently serving simultaneously as CEO of both the Fiat and Chrysler automotive groups – including the Alfa Romeo, Lancia, Fiat, Dodge, Chrysler and Jeep brands, among others – was touted as a potential candidate for chief executive of UBS, and currently serves as its vice chairman. Royal Dutch Shell CEO Peter Voser, meanwhile, rose to his current rank after several years as its chief financial officer. But with Fiat, Chrysler and Shell all in the midst of comprehensive restructuring plans, neither Marchionne nor Voser have the time and energy to be supervising UBS AG's restructuring as well.

Source

Tags: bank, board, board of directors, BoardOfDirectors, peter voser, PeterVoser, sergio marchionne, SergioMarchionne, ubs, ubs bank, ubs board, UbsBank, UbsBoard