The Americans who also called Sergio Marchionne back to Italy 18 months ago lifted the former to heaven. They believe that Chrysler can be revived from the brink of bankruptcy and that all government loans will be cleared ahead of time. They all want to thank Marchionne for his insight. Thanks.
As Fiat and Chrysler’s chief executive, they saved the two companies and made Marchionn a smash hit. It was comparable to Carlos Ghoen, Renault’s Nissan dual CEO, who was called the “magic kidâ€.
Marchionne's wishful thinking was to use Chrysler as a springboard for the Fiat Group's entry into the North American market, and to affix Jeep or Dodge's off-road vehicles to the Fiat logo to complement its virtually blank SUV product line.
The only risk is that in the current world's largest auto consumption market in China, these two second-tier brands also lack success. In the first six months of this year, the combined performance of the two companies in China was also less than 15,000 vehicles. The licensing data provided by the authoritative department showed that the Fiat brand sold only 396 vehicles, which was a huge gap with the planned capacity of 500,000 vehicles in the medium-term plan.
There are no rescuers or savers here, they must huddle for survival.
Two years before Chrysler’s revival, Chrysler was still on the line. Its survival depends on whether the President of the United States is willing to help the mess.
The company has now repaid all government loans 6 years in advance. At the end of last month, they also redeemed the remaining US and Canadian government holdings of the company’s shares pursuant to Marchionne’s instructions. The transaction's valuation of Chrysler was US$8.33 billion, far exceeding the price that should have been greatly reduced due to bankruptcy.
In the second quarter, thanks to 16 new or improved models released this year, the Chrysler Group's net income reached US$13.7 billion, an increase of 30%. During the same period, the company’s operating profit was US$507 million, while operating profit in the second quarter of 2010 was only US$183 million. Throughout the first half of the year, the operating profit of the Chrysler Group reached 984 million U.S. dollars, which is about three times that of the first half of 2010.
“There is no doubt that Chrysler has made great progress. Refinancing ahead of schedule and repaying government loans in six years ahead of time, this result gives us more confidence in the future of the company. We will revive Chrysler and bring it back to the global automotive market. Due status."
Marchionne said that by 2014, Chrysler and Fiat's combined company revenue will reach 140 billion US dollars - over the amount of about 92 billion US dollars in 2010 to achieve overflight.
According to an agreement signed between Fiat and the U.S. Department of Finance in 2009, after Chrysler relied on Fiat technology to produce a small car in the United States by the end of the year, Fiat would acquire 5% of Chrysler's shares through technology shares to 58.5%.
Many of the aforementioned radical plans are largely due to Marchion’s ambition and a small part of his pessimism. This Fiat Group CEO who entered in 2004 with Fiat’s loss of more than US$1 billion and made it profitable two years later. There has been concern that it may be difficult for a multinational automobile manufacturer to achieve profitability unless its annual sales exceed 5.5 million vehicles or even 6 million vehicles. Malchone believes that such companies will not exceed six, and Fiat must be among them.
But this is not the same company that made a name for itself when Daimler merged. The car was unpopular, its technical content was low, and its international business was dismal. Marchionne, who insists on acquiring Chrysler’s bag, is an acknowledged careerist. He regards the former as Fiat’s return to the US market and the addition of an SUV product line that is virtually blank for him.
Relying heavily on the homeland is not a truly global company for any of this young car alliance.
In Turin, which is only 130 square kilometers, more than half of the population work directly or indirectly for Fiat. However, this car manufacturer has been heavily dependent on the Italian and Brazilian markets. In 2010, only two of these countries occupied Fiat. The overall sales volume of the car is as high as 66%. The data provided by Gasgoo Automotive Research Institute shows this. The continued downturn in the Italian car market began to make Fiat unable to turn a blind eye.
According to the data from the Italian Automobile Industry Association, although the experts had expected the market to turn a corner this year, there was still no improvement in the sluggish sales of new cars in July this year. The total number of new passenger vehicle registrations for the month was 137,000, a decrease of 10.7% from the same period of last year, of which Italian brand registrations fell by 9.3%; foreign brand new cars fell by 11.3%.
Chrysler’s globalization is even worse, and the company has barely moved out of Central and North America.
In 2010, sales in the United States, Canada, and Mexico accounted for more than 90% of their sales. As Chrysler’s largest overseas market except for the above countries, China’s sales account for only 1% of its global scope.
By controlling Chrysler, Fiat finally got a ticket to the North American market. Now the weak demand in the United States and Europe has caused the company's executives to worry. They have begun to cut spending and even the US government is trying to reduce spending. The new wave of worries is likely to stifle the recovery momentum of large corporate capital investment.
"Uncertainties in the recovery of auto consumption demand have caused companies to be cautious," Marchionne said in an industry conference recently. "Because of unknown factors in the future, people are reluctant to make long-term investments in R&D and capital expenditures."
The prospects in China are worrying. In the world's largest consumer car market, China, these two second-tier brands all play the role of a loser.
In fact, on Marchionne’s initial timetable, the goal of selling 300,000 vehicles a year in China was achieved last year, and the joint venture experience with Nanjing Auto failed to make this plan, and the executives of the two joint ventures planned for the future and competed for power. The contradictions are difficult to reconcile. The outdated models and the performance of the embarrassment caused the joint venture to eventually collapse.
When anybody criticized the product as causing Fiat's previously failed joint venture experience, any Italian executive would be clearly displeased. They believe that their auto technology and design are unique. In that boot-shaped country, there is no one who can challenge the status of the Fiat Group, including the Pope.
PUNTO, PANDA, and 500 have consistently topped the top 5 in Italy's best-selling models, but PUNTO and PANDA have been proven to be lacklustre in the Chinese market. Prior to the launch of C-Medium in 2012, they supported the huge amount of shop building investment and expenses. Only imported BRAVO Bo Yue, the model sold only 389 vehicles in the first six months of this year, slightly more than the Fiat Group's luxury brand Maserati.
Fiat's executives tried to reinvent the Fiat 500 star model at a price close to that of the Mini Cooper, even if it was of great significance to the company's revival in Europe. When channels and brand influence were all dragged on, look. It still has some wishful thinking.
In the first six months of this year, on-board data provided by authoritative departments showed that the combined performance of the two companies in China was also less than 15,000 vehicles, of which 396 were sold by the Fiat brand, and there was a huge gap between the planned capacity of 500,000 units in the medium-term plan.
As Fiat and Chrysler’s chief executive, they saved the two companies and made Marchionn a smash hit. It was comparable to Carlos Ghoen, Renault’s Nissan dual CEO, who was called the “magic kidâ€.
Marchionne's wishful thinking was to use Chrysler as a springboard for the Fiat Group's entry into the North American market, and to affix Jeep or Dodge's off-road vehicles to the Fiat logo to complement its virtually blank SUV product line.
The only risk is that in the current world's largest auto consumption market in China, these two second-tier brands also lack success. In the first six months of this year, the combined performance of the two companies in China was also less than 15,000 vehicles. The licensing data provided by the authoritative department showed that the Fiat brand sold only 396 vehicles, which was a huge gap with the planned capacity of 500,000 vehicles in the medium-term plan.
There are no rescuers or savers here, they must huddle for survival.
Two years before Chrysler’s revival, Chrysler was still on the line. Its survival depends on whether the President of the United States is willing to help the mess.
The company has now repaid all government loans 6 years in advance. At the end of last month, they also redeemed the remaining US and Canadian government holdings of the company’s shares pursuant to Marchionne’s instructions. The transaction's valuation of Chrysler was US$8.33 billion, far exceeding the price that should have been greatly reduced due to bankruptcy.
In the second quarter, thanks to 16 new or improved models released this year, the Chrysler Group's net income reached US$13.7 billion, an increase of 30%. During the same period, the company’s operating profit was US$507 million, while operating profit in the second quarter of 2010 was only US$183 million. Throughout the first half of the year, the operating profit of the Chrysler Group reached 984 million U.S. dollars, which is about three times that of the first half of 2010.
“There is no doubt that Chrysler has made great progress. Refinancing ahead of schedule and repaying government loans in six years ahead of time, this result gives us more confidence in the future of the company. We will revive Chrysler and bring it back to the global automotive market. Due status."
Marchionne said that by 2014, Chrysler and Fiat's combined company revenue will reach 140 billion US dollars - over the amount of about 92 billion US dollars in 2010 to achieve overflight.
According to an agreement signed between Fiat and the U.S. Department of Finance in 2009, after Chrysler relied on Fiat technology to produce a small car in the United States by the end of the year, Fiat would acquire 5% of Chrysler's shares through technology shares to 58.5%.
Many of the aforementioned radical plans are largely due to Marchion’s ambition and a small part of his pessimism. This Fiat Group CEO who entered in 2004 with Fiat’s loss of more than US$1 billion and made it profitable two years later. There has been concern that it may be difficult for a multinational automobile manufacturer to achieve profitability unless its annual sales exceed 5.5 million vehicles or even 6 million vehicles. Malchone believes that such companies will not exceed six, and Fiat must be among them.
But this is not the same company that made a name for itself when Daimler merged. The car was unpopular, its technical content was low, and its international business was dismal. Marchionne, who insists on acquiring Chrysler’s bag, is an acknowledged careerist. He regards the former as Fiat’s return to the US market and the addition of an SUV product line that is virtually blank for him.
Relying heavily on the homeland is not a truly global company for any of this young car alliance.
In Turin, which is only 130 square kilometers, more than half of the population work directly or indirectly for Fiat. However, this car manufacturer has been heavily dependent on the Italian and Brazilian markets. In 2010, only two of these countries occupied Fiat. The overall sales volume of the car is as high as 66%. The data provided by Gasgoo Automotive Research Institute shows this. The continued downturn in the Italian car market began to make Fiat unable to turn a blind eye.
According to the data from the Italian Automobile Industry Association, although the experts had expected the market to turn a corner this year, there was still no improvement in the sluggish sales of new cars in July this year. The total number of new passenger vehicle registrations for the month was 137,000, a decrease of 10.7% from the same period of last year, of which Italian brand registrations fell by 9.3%; foreign brand new cars fell by 11.3%.
Chrysler’s globalization is even worse, and the company has barely moved out of Central and North America.
In 2010, sales in the United States, Canada, and Mexico accounted for more than 90% of their sales. As Chrysler’s largest overseas market except for the above countries, China’s sales account for only 1% of its global scope.
By controlling Chrysler, Fiat finally got a ticket to the North American market. Now the weak demand in the United States and Europe has caused the company's executives to worry. They have begun to cut spending and even the US government is trying to reduce spending. The new wave of worries is likely to stifle the recovery momentum of large corporate capital investment.
"Uncertainties in the recovery of auto consumption demand have caused companies to be cautious," Marchionne said in an industry conference recently. "Because of unknown factors in the future, people are reluctant to make long-term investments in R&D and capital expenditures."
The prospects in China are worrying. In the world's largest consumer car market, China, these two second-tier brands all play the role of a loser.
In fact, on Marchionne’s initial timetable, the goal of selling 300,000 vehicles a year in China was achieved last year, and the joint venture experience with Nanjing Auto failed to make this plan, and the executives of the two joint ventures planned for the future and competed for power. The contradictions are difficult to reconcile. The outdated models and the performance of the embarrassment caused the joint venture to eventually collapse.
When anybody criticized the product as causing Fiat's previously failed joint venture experience, any Italian executive would be clearly displeased. They believe that their auto technology and design are unique. In that boot-shaped country, there is no one who can challenge the status of the Fiat Group, including the Pope.
PUNTO, PANDA, and 500 have consistently topped the top 5 in Italy's best-selling models, but PUNTO and PANDA have been proven to be lacklustre in the Chinese market. Prior to the launch of C-Medium in 2012, they supported the huge amount of shop building investment and expenses. Only imported BRAVO Bo Yue, the model sold only 389 vehicles in the first six months of this year, slightly more than the Fiat Group's luxury brand Maserati.
Fiat's executives tried to reinvent the Fiat 500 star model at a price close to that of the Mini Cooper, even if it was of great significance to the company's revival in Europe. When channels and brand influence were all dragged on, look. It still has some wishful thinking.
In the first six months of this year, on-board data provided by authoritative departments showed that the combined performance of the two companies in China was also less than 15,000 vehicles, of which 396 were sold by the Fiat brand, and there was a huge gap between the planned capacity of 500,000 units in the medium-term plan.
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