NEWSWATCH: Rumours have been circulating this week that Sergio Machionne, CEO of Fiat Chrysler Automobiles (FCA), could announce the closure of one of America's oldest remaining automakers, Chrysler, when he addresses investors today, Friday, 1 June 2018 in Balocco, Italy.
Marchionne, who was the CEO of Fiat when he brought Chrysler out of bankruptcy in 2009, is set to unveil his vision for the automaker's future after he retires next year.
According to FCA specialist Larry P. Vellequette of Automotive News "a source told a European colleague" that Marchionne could possibly announce the end of the historic brand in his speech to investors.
The Chrysler brand has over 90 years of history in the United States. The FCA conglomerate includes other brands such as Alfa Romeo, Dodge, Fiat, Maserati, and Jeep.
According to Automotive News, Marchionne might also include detailed plans to pull Fiat out of countries such as the United States and China and re-focus on building vehicles for Europe, Brazil, and emerging markets.
The National Sales Companies of Fiat Chrysler Automobiles (FCA) are due to take the next step towards full integration under the Fiat Chrysler Automobiles South Africa (FCASA) banner from early in 2018...
13 Oct 2017
Comments AutoTrader CEO George Mienie: “The rumoured demise of the Chrysler nameplate is sad – this is a brand with over 90 years of history. Should this rumour be true, it would come on the back of an announcement in South Africa in October last year, by FCA, when it stated that Chrysler and Dodge vehicles would no longer be available locally.
“South Africans who own Chrysler and Dodge vehicles have nothing to fear. When the announcement was made in October 2017 that the brands would exist, South Africa, FCA committed to continuing to service and support Chrysler and Dodge vehicles through its franchised dealers. I foresee this commitment continuing,” he concludes.
A statement released by the auto group noted that the presentations delivered during the event will be made available in the Investors section of the FCA corporate website, as well as a live audio webcast of the Q&A session of the event which will be commencing approximately at 2.50pm BST / 3.50pm CEST / 9.50am EDT today.
Ilse is a freelance journalist and editor who loves all things related to travel, wine, cars, and entrepreneurship. She is also the editor of Go & Travel, a platform connecting all the stakeholders in the travel & tourism industry. From 2010-2014, her beat was Marketing & Media at Bizcommunity.com. Then she had a 2-year adventure in Italy after which she returned to Bizcommunity as the Motoring, ICT, and Logistics editor. She decided to try the freelance thing as of August 2018 and she is still a contributing writer for Bizcommunity. You can check out her work here, here, and here. In her spare time, she's probably surfing, hiking, or travelling. Contact Ilse if you require any writing or editing services on (note .co NOT .com) or or find her on Twitter.
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