Fiat CEO Sergio Marchionne has ambitious plans for the Maserati, specifically to drastically improve sales almost tenfold from last years 5,675 units sold to 50,000. Marchionne believes this is attainable through three new Maserati models, all based on systems and components from Chrysler Group.

Maserati will introduce two sedans and an SUV with technology from the American automaker. The Quattroporte flagship model will be replaced by two sedans using technology from the Chrysler 300 and the Dodge Avenger(!). The Maserati SUV will be built alongisde the Jeep Grand Cherokee in the Jefferson North plant in Detroit. Maserati has stated that the new models will not be rebadged Chryslers. The Maseratis will have different bodies and interiors, however shared parts will be in very discreet areas, similar to the Bentley Continental, and its Volkswagen Phaeton stablemate.

Maserati hopes to solve the Quattroporte’s size problem. The car is too large to be a driver’s car. This issue will be solved by offering both a “baby” Quattroporte and a larger Quattroporte. Maserati hopes to combat the Audi A6, BMW 5 Series and Mercedes-Benz E-Class with the “baby” model. The smaller Maserati sedan,will have a traditional layout, complete with a front longitudinal engine and rear-wheel drive. The engine will be a reworked, high performance version of the Chrysler V6 Pentastar, likely a 3.0-liter motor with Fiat’s fuel saving MultiAir air management system, twin turbochargers and direct injection. The car will crank out 400-hp and deliver good fuel economy. The price will range between $78,000 to $99,000.

The larger Quattroporte will be considerably larger than the current model, rivalling the Audi A8, BMW 7 Series and Mercedes-Benz S-Class. The larger Maserati will have an overall length of 5170mm, 70mm longer than the current model and 220 longer than the “baby” vehicle. The larger Maserati will feature a revised version of the Ferrari-built 4.7-liter 475-hp V8, mated to the ZF Group’s eight-speed automatic transmission.

[Source: Automotive News]

Sergio Marchionne, CEO of Chrysler Group and Fiat, announced that Maserati’s future SUV will make its world debut in September at the Frankfurt Auto Show. The concept vehicle at the show, will provide a good idea as to what to expect from the production version set to follow in 2013.

The Maserati SUV will be built on the Jeep Grand Cherokee platform but will utilize a different engine. Marchionne revealed that the SUV will feature a “rock and roll engine”, whatever that means. It has been rumoured that the Maserati may feature a Ferrari-sourced V8 or V12, but that has recently been ruled out. The most recent rumour is that of a Chrysler HEMI V8 with 465-hp being used, but nothing is certain. Europe will most likely receive a diesel variant, possibly with a 3.0-liter twin turbo Fiat engine. The engine choice will be a vital and strategic move for Maserati, in order to take on the Porsche Cayenne, BMW X5/X6 and Range Rover.

[Source: Top Speed]

[Source: Reuters]

The Chrysler Group LLC is expected to announce today that it has reached a deal to refinance its debt.

The Auburn Hills based company plans to repay $7.5 billion in government loans to both the U.S and Canadian governments by May 24th. Chrysler owes $5.9 billion to the U.S and $1.6 billion to Canada. Chrysler’s partner Fiat SpA is to increase its share in the struggling automaker to 46 percent, reducing both the American and Canadian government’s share of Chrysler.

Fiat will pay Chrysler $1.3 billion in cash to repay the loans and increase its share by additional 16 percent. Chrysler will use $3.5 billion in bonds, a $2.5 billion term loan as well as Fiat paying the $1.3 billion in cash. The loan payoff comes far ahead of what was required. Chrysler had until 2017 to repay its debts in full. With this financial move, Chrysler hopes to offer public stock likely later this year or the next based on market conditions and the wishes of its shareholders.

With Fiat’s help, Chrysler has revamped its product lineup, redesigned its vehicles fetching higher prices and in the first quarter has reported its first net profit of $116 million. Chrysler and Fiat CEO Sergio Marchionne said Chrysler is on track for a net revenue of $55 billion in 2011, a $2 billion operating profit and net profit of $200 to $500 million.

[Source: Detroit News]

Maserati‘s newest sedan, rumored to be a smaller model comparable to a BMW 5-Series in size, will be built in Italy, after a deal was struck between an Italian labor union and Fiat CEO Sergio Marchionne.

Workers at the factory, formerly managed by Bertone, agreed to longer shifts and shorter breaks in exchange for the new Maserati. The deal follows similar agreements negotiated by Marchionne at three Fiat plants that saw workers give concessions in exchange for the chance to build new products. The former Bertone plant currently employs 1,100 people. The new Maserati sedan is expected to be part of a product onslaught that will also see Maserati offer a crossover for the first time in the brand’s history.

[Source: Left Lane News]

Proving that you might actually be able to stop a train wreck that’s already in progress, under the stewardship of Fiat CEO Sergio Marchionne, Chrysler has posted a profit. Blaming high interest rates on its government loans for not climbing into the black earlier, Marchionne today reported a net income of $116 million, compared to a net loss of $197 million in Q1 last year.

“Chrysler Group’s improved sales and financial performance in the first quarter show that our rejuvenated product lineup is gaining momentum in the marketplace,” he said in a statement.

The news of a possible real turnaround for the most damaged of the U.S. automakers comes as Marchionne plans to full takeover (51%) of the company. To do so Fiat has to achieve several goals as laid out by the U.S. government, with the final one being building a 40-mpg car in America.

Chrysler is preparing to pay back $6.6 billion on government loans, but the company will do so not from its own cash but by re-financing existing debt.

Current terms of the government loans have Chrysler paying 12 percent interest per year. While Chrysler would not be out of debt, they would theoretically free themselves from the high interest rates and no longer owe money to both the Canadian and U.S. governments. An official announcement regarding the re-financing is expected later today.

[Source: USA Today]

The Jeep Grand Cherokee will once again be offered with a diesel powerplant says Fiat/Chrysler CEO Sergio Marchionne. Jeep cut the diesel option from its flagship SUV when it introduced the current generation model and Jeep has been officially quiet on its return – until Marchionne’s comments now. An exact date for the new diesel model’s introduction was not revealed, but Marchionne did say it would arrive before 2013.

The new diesel powerplant will be the same 3.0-liter turbo V6 offered in Europe, with 237-hp and 406 lb-ft of torque. Compared to the old diesel, fuel economy is up 19 percent while the total tow rating would lead the Grand Cherokee pack at 7,700 lbs.

[Source: Autoblog]

Read AutoGuide’s 2011 Jeep Grand Cherokee Review here.

Those who have been eagerly awaiting the return of the Alfa Romeo brand to North America will have to continue to be patient as the premium Fiat group brand won’t arrive in 2012 as previously planned. According to sources inside Alfa, the brand’s launch in the U.S. and Canada has been pushed back until 2013.

The reason revolves around the new Giulia mid-size sedan and wagon counterparts. This platform will also form the basis of the next-generation Chrysler 200 and Dodge Challenger. Reportedly, Fiat CEO Sergio Marchionne isn’t pleased with the design of the Giulia, nor is he pleased with what Dodge and Chrysler designers are planning for the car.

Alfa’s success, not just in North America, but also in Europe, depends highly on this new model. Having cut the GT coupe, Brera coupe and Spider roadster last year, Alfa only offers three models: the MiTo, Giulietta and 159. This gives it the unique distinction of having the least number of products on offer of any European premium brand. (Yes, even less than Saab).

[Source: Automotive News]

Fiat is set to increase ownership in Chrysler, from 25 to 30 percent, within the next few weeks, assuming regulatory bodies are satisfied with Fiat’s ability to meet specific demands for Chrysler.

Fiat has already been able to generate $1.5 billion in revenue for Chrysler outside of North America, but still needs to build a Fiat-based car in North America capable of getting 40 mpg. Fiat is aiming to own a 51 percent stake in Chrysler by the end of 2011.

CEO Sergio Marchionne is hoping that Chrysler will increase global sales by 32 percent and post a net profit for the first time this year. Fiat will also begin exporting Chrysler vehicles to Brazil and sell them as Fiats, where the brand is the current market leader. Among the products that will be offered are the Dodge Journey crossover, sold as the Fiat Freemont.

[Source: Automotive News]

Fiat may currently own a 25-percent stake in Chrysler, but that’s not enough for them: by the end of the year, says Fiat CEO Sergio Marchionne, the Italians will increase their stake to over 51% and own more than half of Chrysler.

While not an outright merger (because Chrysler is probably pretty wary of those right now), Marchionne aims to increase their stake incrementally, by 35% at the end of the fourth quarter. And such a merger hasn’t been ruled out yet. Like a jilted bride (or the recently passed Ms. Taylor), Chrysler just seems to can’t resist shacking up with swarthy Europeans.

[Source: Reuters Italia]

Despite claims by Fiat that its not letting go of Alfa Romeo, Volkswagen is continuing to put pressure on the powers-that-be to acquire the premium brand.

Most recently VW chairman Ferdinand Piech commented that under the German automaker’s ownership sales of the Italian brand would quadruple. Now comes word that Volkswagen already has a complete plan in place to make that assertion a reality – including help from the sports car experts at Porsche.

In a report by AutoCar, it’s suggested that Alfa could get a new line of 4-cylinder boxer engines that Porsche is currently developing for use in its own sports cars. Also included in the plan is use of the additional production capacity at Seat’s Martorell facility to cope with the added demand that Porsche-powered Alfas would no doubt create.

Volkswagen’s preparedness is part of the automaker’s 2018 plan for global domination, with execs having publicly commented that it sees Alfa crucial to this goal.

[Source: AutoCar]

If Fiat ever sells Alfa Romeo, says VW chairman Ferdinand Piech, Volkswagen could take the underperforming brand and quadruple its sales within five years. Ambitious? Fiat CEO Sergio Marchionne certainly doesn’t think so.

“As long as I am CEO of Chrysler and Fiat,” he said, “Mr. Piech will never have Alfa Romeo.”

Marchionne suggested to Piech that VW should take care of SEAT, its ailing Spanish brand, before even considering the idea of adding another company to its 7-strong dossier. Piech had previously called SEAT a “foster child” in January, but had added that it was “growing fast.”

Overambition has never stopped Volkswagen in the past, however. “Volkswagen has time,” said Piech. After all, despite celebrating its 100th anniversary last year, Alfa Romeo only managed to sell 112,000 cars—well short of the 300,000 target it aimed to achieve with the new MiTo and Giuletta. A “money loser” is what Marchionne labeled it during his seven years with Fiat, claiming “I’m not sure if it ever really made any money.”

Hardly confidence-inspiring, but you can’t fault Piech for seeing a chance when it opens up, right?

[Source: Automotive News]

After repeatedly voicing his interest in purchasing the Alfa Romeo brand from its Fiat parent company, Volkswagen Chairman Ferdinand Piech today received a decisive answer. It’s just not the answer he was looking for.

“As long as I am CEO of Chrysler and Fiat, Mr. Piech will never have Alfa Romeo. It’s hands-off,” said Fiat CEO Sergio Marchionne, speaking at a J.D. Power conference.

And rather than leave it at that, Marchionne rebuked his rival, insisting that he would be better off to fix his own internal problems first. In particular, Marchionne referred to Seat (Volkswagen’s Spanish subsidiary), which has struggled to find buyers for its brand of rebadged Volkswagens in recent years.

After having neglected the Alfa Romeo brand, Fiat is looking to reinvest and will introduce a new sports car concept at the Geneva Auto Show this year, along with other new models, including a crossover based on the Jeep Compass.

[Source: Automotive News]

Chrysler Corporation will look to introduce a new compact van for either Dodge or Chrysler, with the new model replacing that brand’s current minivan offering. Sergio Marchionne, CEO of Chrysler and Fiat, made the comments to reporters gathered at the North American International Auto Show.

The move will take place by 2013 says Marchionne, with the small MPV set to rival the Mazda5 and newly-released Ford C-Max. If Chrysler gets the small van, then the Town & Country will be cut, while the Grand Caravan will face a similar fate if Dodge gets the new model.

With the Town & Country the stronger seller in the U.S. and the fact that it commands higher prices, the Grand Caravan’s fate would appear numbered.

Like how the C-Max rides on the Focus platform and the Mazda5 on the Mazda3 architecture, the new Chrysler Group model will be based off of an upcoming compact car platform, that will not only be used for the Caliber replacement, but it also expected to be used to build Jeep crossovers, like the next-generation Compass and Patriot.

[Source: Autoblog]

Read AutoGuide’s Review of the 2011 Dodge Grand Caravan Here

Fiat is looking to up their stake in Chrysler from 20 percent to over 50 percent, according to reports in the Detroit News. Fiat was awarded a 20 percent stake in the company as part of Chrysler’s bankruptcy proceedings in 2009, and can increase its ownership as it passes a series of milestones. Marchionne also hinted that a Chrysler IPO may come in the second half of 2010.

The company can own another 15 percent upon building engines in North America, marketing an American made car that can hit 40 mpg and meets sales targets for export markets. Paying back government loans before 2013 will also give the company an option to another 16 percent of Chrysler.

[Source: Detroit News]

The Porsche Cayenne better get ready, because Maserati is all set to introduce a new SUV based on the Jeep Grand Cherokee. Word of the new model comes from none other than Fiat and Chrysler CEO Sergio Marchionne.

“This is just a great architecture,” said Marchione to the Wall Street Journal. “Why wouldn’t I put a Maserati on it?”

The new Maserati SUV will be built starting in 2013 at the company’s Jefferson North assembly plant in Detroit.

The vehicle would be the fourth model in the Maserati lineup, joining the Quattroporte sedan, GranTurismo coupe and GranTurismo Convertible.

[Source: Wall Street Journal]

Read AutoGuide’s 2011 Grand Cherokee Review by Clicking Here

Jeep‘s venerable Wrangler will get the much lauded Pentastar V6 next year, according to Fiat CEO Sergio Marchionne.

Marchionne confirmed that the 2012 Wrangler will do away with the current 202 horsepower V6, and adopt the newest Chrysler 6-pot, which makes between 283 and 305 horsepower.

Also confirmed was the upcoming Dodge compact hatchback based on the Alfa Romeo Giulietta. Even more interesting was the news that the Alfa platform will be the “architecture that will govern all of Chrysler’s C- and D-segment vehicles, both passenger cars and SUVs, for the foreseeable future.” That means that most future Dodge cars, save for the Charger, will be spun off of this Euro-derived platform. If this is means the demise of the Avenger, Journey

Fiat’s got a new boss, but fans of black sweaters shouldn’t fret; Sergio Marchionne, the man who lives by the phrase “business casual”, will still retain control of the Fiat/Chrysler monolith.

Lest we forget that Fiat itself is also a car brand, and somebody needs to oversee the Fiat car lineup. For that job, Andrea Formica (center) has been named as the CEO of Fiat cars. After doing stints at Toyota and Ford, Formica has been given the job, along with having to manage sales for Fiat, Alfa Romeo, Lancia and Chrysler’s European division. Formica’s predecessor, Lorenzo Sistino, has been moved to head up Fiat’s International Operations.

Hit the jump to read the official press release

[Source: Fiat]

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News of a new 8-speed automatic for rear-drive Chrysler vehicles has been floating around for a few months now, but it appears as though the American automaker has one more trick – or should we say one more gear – up its sleeve. At Chrysler’s recent dealer meeting (the first in three years) those in attendance heard about a new Viper and a host of other upcoming products. They were also told of a new 9-speed automatic transmission in the works. The new 9-speed auto-box is being built for front drive applications, although Marchionne did say that it will also be adaptable to AWD and hybrid setups. He gave no indication on when the unit would be available in a production model.

As for the 8-speed box, it is a version of the ZF 8-speed unit currently found on many BMW products and will first appear in rear-drive Chrysler products (like the 300C, Dodge Charger and Challenger) in 2012, significantly improving both fuel economy and acceleration.

The new 9-speed automatic would be suitable for AWD versions of cars like the Chrysler 300.

[Source: AutoWeek]

The biggest news out of Chrysler this week wasn’t Sergio Marchionne’s plan for an IPO in 2011, but the secret showing of a next generation Dodge Viper. Unveiled at the first Chrysler dealer meeting in three years, Chrysler made sure the press didn’t get a look at its new supercar. But according to one observer, the vehicle shown bears a resemblance to the stunningly beautiful Alfa Romeo 8C Competizione – a rare Alfa that shares its platform with the Maserati Gran Turismo and Ferrari California. With swoopy Italian lines, the car does, however, retain the aggressive Viper front fascia.

According to AutoWeek, Marchionne is motivated to bring back the Viper through pure enthusiasm for the car, with little thought to the financial situation. According to their source, he told dealers that, “There are times when you are given the opportunity to give life to something which is so beautiful and unique, so just and equitable, that you pay a lot less attention to the numbers, to the financial reality that surrounds it. They happen only rarely. In my case, three times in more than 15 years as chief executive.”

Marchionne went on to comment that he repeatedly spoke with Dodge CEO Ralf Gilles but could never make a financial case for the Viper. Then, one day, he was shown the prototype and it look “less than five minutes” for those in charge of making the product planning decisions to give it the green light.

Set to hit dealers in 2012, we should see a new Viper as early as next year. There’s still no official word on the powerplant, but it’s expected a direct-injection version of the 8.4-liter V10 will be offered with close to 700-hp, while a V8 is rumored to be under consideration.

[Source: AutoWeek]

Chrysler CEO Sergio Marchionne announced that parent company Fiat is looking to increase its stake in Chrysler to 35 percent, and is looking to bring out a Chrysler IPO in the second half of 2011.

“I don’t think it’s the first part; I think it’s a second-part-of-the-year event,” Marchionne told the assembled media at Chrysler’s Orlando dealer meeting.

Marchionne also discussed the prospect of increasing Fiat’s stake in Chrysler to 35 percent, from its current 20 percent. “What is important to me is to reach the goals we are set [on] reaching; share transferring is just a consequence of the fulfilling of our obligations with the U.S. and Canadian governments.”

In addition to the 16 new products shown at the dealer meeting, Marchionne confirmed that an all electric Fiat 500 would arrive in 2012, and that Canada and Mexico would recieve that car, along with Alfa Romeo products.

[Source: Automotive News]

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With FIAT preparing a return to North America, company CEO Sergio Marchionne said that Alfa Romeo vehicles would complement Fiat products in the same showrooms, giving dealers a wider array of vehicles to sell.

Currently, only the 500 small car is slated to be sold, and the niche product will likely be unable to generate enough profit to justify the substantial investment required to sell the car as a standalone product. The addition of Alfa products would make the prospect of selling the 500 more enticing.

“It’s more than likely that Fiat and Alfa Romeo brands will be sold in the same” dealerships, Marchionne said. Alfa products expected to be sold in North America include a compact hatchback, a mid-size sedan and a mid-size SUV. The Alfa brand also has significant cache among American consumers.

Marchionne is hosting a dealer meeting for Fiat and Chrysler franchise holders on August 30th but said he will not discuss Alfa Romeo plans at the event.

[Source: Automotive News]

FIAT CEO Sergio Marchionne told reporters at a Chrysler event in Ohio that Alfa Romeo cars would be sold in the United States in joint Alfa/Fiat dealerships starting in 2012.

The official statement pretty much puts to rest any rumors of a sale of the Alfa Romeo brand to Volkswagen, something was was reported by many outlets in the preceding days. While Alfa Romeo sales have been dismal over the past two years, FIAT brass are confident that the new Giulia sedan and a mid-size SUV will be able t0 lead the brand’s return to America. Alfa Romeo has a tremendous amount of goodwill and brand recognition in the United States, and can be positioned as a sporty, upscale line within the Chrysler/FIAT framework.

[Source: Left Lane News]