U.S. government shutdown threatens rollout of new cars

2018 Limited Edition Ford Focus RS

The partial U.S. government shutdown is threatening to postpone the roll-out of new vehicle models in the United States by stalling necessary certifications from the Environmental Protection Agency (EPA), automakers stated. The shutdown, at 34 days the longest in history, has left more than 800,000 federal agency workers without pay and had effect on everything […]

KKR’s Calsonic purchases parts firm Magneti Marelli for $7.1 billion

magneti marelli

Japan’s Calsonic Kansei, owned by U.S. private equity firm KKR, has is set to purchase Fiat Chrysler’s Magneti Marelli for 6.2 billion euros ($7.1 billion) to establish the seventh-largest independent car parts supplier. The first big deal by FCA’s newly-appointed CEO Mike Manley, who took over in July following the sudden death of long-time CEO […]

Fiat Chrysler new CEO to announce plans for organization by end month

Fiat Chrysler Automobiles FCA

Fiat Chrysler new CEO Mike Manley is going to announce his organizational preparations for the automaker by the end of September, the group’s chairman stated at a shareholder meeting called to vote on the appointment of the new manager following former CEO Sergio Marchionne’s sudden death. “When we learned Sergio Marchionne could not return to […]