cwerdna
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Fiat Chrysler (FCA) betting on low gas prices

Sun Jan 31, 2016 5:12 pm

As I posted at viewtopic.php?p=450985#p450985 and has been widely reported in the media lately, FCA asserts that gas prices will remain low and is making bets on that.

Part of this was briefly mentioned on Nightly Business Report recently and echoed at http://www.greencarreports.com/news/110 ... cks/page-2.

In setting the stage for the details that were released, Marchionne said FCA does not expect low fuel prices "to fundamentally change, directionally," and that it believes U.S. buyers' shift toward SUVs, crossover utility vehicles, and pickup trucks is permanent.

He did not directly address the risks of the plan should gasoline prices rise sharply and suddenly as they did in 2008.


Other similar coverage:
http://www.freep.com/story/money/cars/c ... /79393200/
http://jalopnik.com/sergio-marchionne-w ... 1755597039
http://www.autonews.com/article/2016012 ... -ambitions
CEO Sergio Marchionne said low fuel prices are “not expected to fundamentally change directionally,” and that “there’s been a permanent shift toward SUVs and pickups.”

http://www.pressherald.com/2016/01/27/f ... t-demands/
FCA added that it believes low gas prices are a here to stay, at least for the foreseeable future.

As a result, the company said it must refocus its energy on developing the SUVs and pickups that Americans want and are buying.

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EVDrive
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Re: Fiat Chrysler (FCA) betting on low gas prices

Sun Jan 31, 2016 7:51 pm

Same short term thinking and poor decision making GM had when they pulled the EV1 so they could focus on gas guzzling Hummers.

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aarond12
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Re: Fiat Chrysler (FCA) betting on low gas prices

Mon Feb 01, 2016 9:59 am

I guess Marchionne likes buying CARB credits. This guy has NO vision whatsoever.
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cwerdna
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Re: Fiat Chrysler (FCA) betting on low gas prices

Sun Jul 22, 2018 4:13 pm

aarond12 wrote:I guess Marchionne likes buying CARB credits. This guy has NO vision whatsoever.

The other day, he suddenly stepped down due to complications from shoulder surgery.

https://money.cnn.com/2018/07/21/news/c ... index.html
https://www.nytimes.com/2018/07/21/busi ... r-ceo.html
https://www.cnbc.com/2018/07/22/how-fia ... laced.html

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aarond12
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Re: Fiat Chrysler (FCA) betting on low gas prices

Sat Sep 15, 2018 9:24 am

cwerdna wrote:The other day, he suddenly stepped down due to complications from shoulder surgery.

Then he really stepped down. RIP...
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DarthPuppy
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Re: Fiat Chrysler (FCA) betting on low gas prices

Sat Sep 15, 2018 10:21 pm

This is a real shame as to how many have such short term views/memories. When the next very predictable gas price or climate change shock disrupts the market, they will once again claim to have been blindsided by forces that were unforeseeable and laugh all the way to the bank with bailout funded golden parachutes. :evil:
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