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Stock Market & Financial Investment News

News Breaks
February 14, 2014
05:50 EDTFIATYChrysler far from Ontario investment deal, Reuters reports
Chrysler Group may be over halfway toward making a deal with the Canadian government on a proposed multibillion-dollar investment to upgrade its two Ontario facilities, but Sergio Marchionne, CEO of Fiat Chrysler Automobiles Group says, "We're not even close to a resolution of a proposal that is acceptable to us." Reference Link
News For FIATY From The Last 14 Days
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September 20, 2014
16:11 EDTFIATYChrysler Group voluntarily recalling 230,760 SUVs to install new relay circuit
Chrysler Group is voluntarily recalling an estimated 230,760 SUVs to install new a relay circuit that improves fuel-pump relay durability. A routine internal data review discovered a pattern of repairs involving fuel-pump relays in certain 2011 Jeep Grand Cherokee and Dodge Durango SUVs. Further investigation revealed some relays are susceptible to deformation, which may affect fuel-pump function. Such a condition may prevent a vehicle from starting or lead to engine stall. Chrysler Group is unaware of any accidents or injuries related to this condition. The fuel-pump relay is located inside the Totally Integrated Power Module, which also helps manage other vehicle functions. None of these other functions, including airbag deployment, is affected by the fuel-pump relay. The recall covers an estimated 188,723 vehicles in the U.S.; 15,898 in Canada; 7,126 in Mexico and 19,013 outside the NAFTA region. Chrysler Group will advise affected customers when they may schedule service, which will be performed at no cost.
September 19, 2014
12:13 EDTFIATYUnion says Fiat to temporarily halt production at Italy facility, Reuters says
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September 18, 2014
08:58 EDTFIATYChrysler's Ram on track for more market share increases, NY Times says
The Ram truck unit of Fiat's (FIATY) Chrysler has seen its share of the full-size pickup market rise in the last five years, and its market share is on track to increase further, according to The New York Times. Reference Link
September 17, 2014
11:59 EDTFIATYFiat Chrysler recalls 2014-2015 Fiat 500Ls due to knee airbag defect
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07:37 EDTFIATYEU car registrations up 2.1% in August, up 5.6% in July
The European Automobile Manufacturers Association reported new passenger car registrations were up by 5.6% in July and by 2.1% in August. Eight months into the year, demand for new cars amounted to 8,336,159 units, or 6.0% more than in the same period last year, the group noted. Publicly traded automakers include Fiat (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
September 16, 2014
11:36 EDTFIATYFiat CEO aims to skip road show, Bloomberg says
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07:08 EDTFIATYToyota Lexus unit questioned regarding parts pricing, Reuters says
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06:30 EDTFIATYNHTSA chief calls for 'new normal' for recalls, Detroit News reports
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September 15, 2014
11:18 EDTFIATYChrysler recalls 2015 Chrysler 200s due to door wiring defect
Chrysler is recalling certain model year 2015 Chrysler 200 vehicles manufactured May 19 to June 21. The affected vehicles may have been built with a driver side door wiring harness of an insufficient wire gauge, resulting in excessive heat which may melt the wiring insulation. Excessive heat and melting wiring insulation may result in an electrical short, increasing the risk of a fire. Chrysler will notify owners, and dealers will replace the door wiring harness, free of charge. The recall is expected to begin in September. Chrysler is owned by Fiat. Reference Link
September 12, 2014
06:34 EDTFIATYFiat head stays with FY14 outlook, Reuters says
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September 11, 2014
07:05 EDTFIATYFiat head says not looking to include Ferrari in group, Reuters says
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06:54 EDTFIATYJeep head says firm poised to sell 1M cars in FY14, Reuters says
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06:31 EDTFIATYVolkswagen JV, Chrysler unit fined in China for price-fixing, WSJ reports
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September 10, 2014
14:58 EDTFIATYFiat's CEO to become Ferrari chairman
The CEO of Fiat (FIATY), will become the new chairman of Ferrari, replacing Luca Cordero di Montezemolo who is resigning as of October 13, Fiat announced earlier today.
09:17 EDTFIATYChina mulls easing car dealer restrictions, Bloomberg says
China's Ministry of Commerce is considering whether to ease rules on car dealers and allow them to sell vehicles from multiple brands in the same store, according to Bloomberg, citing people familiar with the matter. Note that both Bitauto (BITA) and Autohome (ATHM), which operate automobile buyer focused websites in China, were down significantly during yesterday's trading, though it is unclear if the reported new regulations play a role in their share weakness. Publicly traded carmakers include Fiat (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link
06:28 EDTFIATYFiat says Ferrari Chairman Luca di Montezemolo resigns
Luca Cordero di Montezemolo is to quit as chairman of Ferrari after 23 years at the company. di Montezemolo says "Ferrari will have an important role to play within the FCA Group in the upcoming flotation on Wall Street. This will open up a new and different phase which I feel should be spearheaded by the CEO of the Group." Thefly notes that Fiat CEO Sergio Marchionne recently said Ferrari's current performance in Formula 1 is "unacceptable."
September 9, 2014
06:09 EDTFIATYVerizon CEO sees self-driving cars 3-5 years away, Detroit News reports
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06:06 EDTFIATYChrysler slashes price of Dodge Viper by $15,000, Detroit News reports
Chrysler has cut the price of its Dodge Viper by $15,000, the Detroit News reports. The slow-selling sports car now costs $84,995, priced comparably to the first-generation Viper. Reference Link
September 8, 2014
13:04 EDTFIATYAugust vehicle sales drop in Russia, WSJ says
The Association of European Businesses said that the sales of new vehicles in August throughout Russia have dropped at the quickest rate so far in 2014, according to The Wall Street Journal, citing a statement from chairman of the AEB Automobile Manufacturers Committee Joerg Schreiber. Industry officials are anticipating sales in the country for 2014 to decrease another 20% after a 5% decline last year. Publicly traded companies in the automobile industry include Fiat (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link

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