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If you're not familiar with the term "Bretton-Woods" and "Petrodollar", allow me to provide a brief summary. To help fund World War II, the US ratified the Bretton-Woods agreement, essentialy creating Fiat money (tying only a small fraction of Gold to the US Dollar). Since the US controlled 2/3 of the worlds gold, it placed the US Dollar as the world reserve currency and created the ability to print money on demand (then ultimately leading to a complete severing of gold and the beginning of the endless devaluation of the US Dollar) Bretton-Woods was terminated in 1971, and the Petrodollar...

Marie Davis wants better medical insurance coverage. Jimmie Pleasant has been out of work for six months. Both are among the thousands of people who are looking for jobs with Fiat Chrysler under a city program that gives Detroit’s residents first crack at the application process. It’s part of a $108 million land development deal between an automaker that’s building a massive new plant and a city where the unemployment rate is more than twice the national average. Detroit officials hope the deal with Fiat Chrysler will mean residents have a better shot at good-paying jobs with the automaker, although...

We knew pretty early in our 14-month relationship with this Alfa Romeo Giulia Quadrifoglio that we weren't going to be able to make a clean break from it. This was not that kind of relationship. And it is not that kind of car. No, instead we would continue coming back to the Giulia, no matter how it betrayed us. Mostly that's because we were obligated to finish this 40,000-mile test. But we also just couldn't give up on it. Rarely have we hoped for a car in our possession to succeed more than we did for this Alfa. And rarely...

For many buyers whose top priority is a car that won’t break down, the J.D. Power Initial Quality Study is gospel. J.D. Power just released the results of its 2019 Initial Quality Study, and the Korean trio of Genesis, Kia, and Hyundai took the top three spots. Luxury brand Genesis ranked highest, followed by sibling brands Kia and Hyundai. It’s a big win for Genesis which, as a relative newcomer to the luxury segment, needs to build credibility with buyers. The high scores achieved by Kia and Hyundai show that you don’t have to spend a lot of money to...

Tesla sent out an invite to automakers who could use its important zero-emission fleet in Europe and according to an update on the European Commission’s website, Fiat Chrysler took them up on the offer. It also comes at a great time as Tesla is believed to be under a significant cash crunch following a lackluster first quarter in 2019. That said, Tesla shouldn’t expect it to last for too long because automakers don’t like to send money to their competitors.

Fiat Chrysler said May 21 that construction will begin immediately on a new, $1.6-billion assembly plant for Jeep Grand Cherokees, a new Jeep SUV and hybrid cars on Detroit's east side. The automaker receives tax breaks and 215 acres of land adjacent to its Jefferson North Manufacturing plant from the city and state in the deal. The land Fiat Chrysler is getting is valued at $108 million and the tax incentives at a savings of $291 million. To put together the land parcels for the deal, the city of Detroit agreed to purchases and exchanges with prominent landowners such as...

The merged company would reshape the global industry: it would make some 8.7 million vehicles a year, leapfrogging General Motors and trailing only Volkswagen and Toyota.

Fiat Chrysler plans to open a new assembly factory in Detroit to build sport utility vehicles, people familiar with the matter told CNBC. The move comes as all of Detroit's Big Three automakers abandon sedan lines in favor of more popular and profitable SUVs and cross-over vehicles. The industry is also under pressure from President Donald Trump to keep manufacturing jobs in the U.S.

Auto legend Sergio Marchionne, the charismatic executive who turned Fiat and Chrysler around before combining the companies as a profitable business, died Wednesday. He was 66. "Unfortunately, what we feared has come to pass. Sergio Marchionne, man and friend, is gone," John Elkann, a member of Fiat's founding Agnelli family, said in a statement.

In a statement Saturday, he said, "I am profoundly saddened to learn of Sergio’s state of health. It is a situation that was unthinkable until a few hours ago, and one that leaves us all with a real sense of injustice. ..At his side, the reports said, were his two sons and his partner of several years, Manuela Battezzato, who works in FCA communications.

Sergio Marchionne, longtime CEO and chief for Fiat Chrysler Automobiles, stepped down Saturday due to serious complications after surgery, the company announced. Mike Manley, head of Jeep and Ram brands, replaced him. John Elkann, grandson of Gianni Agnelli and chairman of the company that controls FCA, said his family was shocked by Marchionne's failing health. "I am profoundly saddened to learn of Sergio’s state of health. It is a situation that was unthinkable until a few hours ago, and one that leaves us all with a real sense of injustice," Elkann said in a statement. Elkann will fill Marchionne's chairman...

Swirling rumors suggest that one of America's oldest remaining automakers could be on the chopping block. Sergio Marchionne will hold an investor's meeting in Italy on Friday, June 1, in Balocco, Italy, where the CEO will possibly kill one the corporation's most historic brands. FCA specialist Larry P. Vellequette of Automotive News reports that "a source told a European colleague" that Marchionne would declare the end of the Chrysler brand in the speech to investors. In addition, Marchionne could detail plans to pull Fiat out of the United States and China, according to Automotive News. The brand would re-focus on...

The automaker recently settled a lawsuit over emissions cheating Fiat Chrysler has become the latest automaker to turn its back on diesel-powered engines as more of the industry pivots to battery-electric vehicles. According to the Financial Times, the Italian-American carmaker will end production of its diesel passenger vehicles by 2022. FCA, which manufacturers Jeep, Dodge, Ram, Chrysler, Maserati, Alfa Romeo, and Fiat, will unveil its four-year plan to phase out diesel vehicles on June 1st, the Times says. A spokesperson declined to comment. "Diesel has been falling out of favor" Diesel has long been promoted by governments and carmakers as...

Fiat Chrysler will make Ram trucks in Michigan instead of Mexico beginning in 2020, and the company says this will mean 2,500 extra jobs at the plant in Warren, Detroit’s largest suburb. While this isn’t the first bit of good economic news in the wake of big corporate tax cuts Republicans just passed, it’s the one that cheers us the most, because it best reflects the way lower corporate taxes work. The key is not bigger profits but increased competitiveness. *snip* More companies will set up more business in the U.S., because it’s now easier to compete by doing so....

Fiat Chrysler Automobiles is feeling good about tax reform. So good that it says it's moving some of its truck production from Mexico to Michigan. The automaker announced Thursday that it will spend more than $1 billion to revamp its Warren Truck Assembly Plant, which will start making the Ram heavy-duty truck in 2020. The truck is currently made in Saltillo, Mexico. Fiat Chrysler said it will add 2,500 jobs in Michigan to support the move. The company also said it's giving one-time $2,000 bonuses to 60,000 U.S. workers. "It is only proper that our employees share in the savings...

(Reuters) - Fiat Chrysler Automobiles NV FCH.MI (FCAU.N) said on Thursday it would invest more than $1 billion in its Michigan plant and add 2,500 jobs as it benefits from the overhaul of the U.S. tax code. The company said it would spend the money to modernize the Warren Truck Assembly Plant in Michigan to produce its Ram Heavy Duty trucks. The company will relocate the truck’s production from its current location in Saltillo, Mexico, to the Michigan plant in 202O. The car maker also said it would make a special bonus payment of $2,000 to about 60,000 FCA hourly...

Chinese SUV maker Great Wall Motors is considering making a bid to buy Fiat Chrysler's Jeep unit, spokespeople for the company said Monday, in a possible ambitious new step onto the global stage for China's fast-growing auto brands. Great Wall has yet to formally declare its interest in Jeep, but a possible acquisition would be in line with chairman Wang Jianjun's goal, announced in February, of becoming the top specialty SUV producer by 2020. Great Wall "has this intention," said the public relations director for its Haval SUV brand, Zhao Lijia, when asked about a report by Automotive News that...

The Dodge Challenger SRT Demon is not a car for normal people. For starters, it comes standard with only one seat. Because passenger seats, and passengers, weigh too much and would slow it down. Your friends aren't worth that. Then there's the engine. The Demon's 840-horsepower 6.2-liter supercharged V8 is the most powerful V8 engine ever put into a regular production car. That makes the Demon the most powerful factory-produced muscle car... ever. The Demon has already recorded the fastest quarter-mile run by a factory production car ever, as officially certified by the National Hot Rod Association. Starting from a...

Vicente Fox Trump acting like 'a child, a CEO': Vicente Fox 1 Hour Ago | 01:35 Former Mexican President Vicente Fox blasted President Donald Trump on Friday, calling him a "child" and mockingly referring to him as a corporate "CEO" rather than president of the world's most powerful country. In an interview on CNBC's "Squawk Box," the outspoken Fox said Mexico won't pay for the wall Trump wants to build along the border, "not now, not ever." Fox also said he doesn't believe Trump is an American "in his soul and his beliefs." He added he does not understand the...

Germany wants the European Union’s executive branch to question Italy over software that regulates emissions in Fiat Chrysler diesel cars. A Transport Ministry spokeswoman says German authorities believe the software constitutes an unauthorized “defeat device.” […] Transport Ministry spokeswoman Svenja Friedrich noted that Fiat Chrysler had refused to meet German authorities, and Italy had canceled a “mediation” meeting with the European Commission scheduled for the end of the month. …