Fiat Chrysler Automobiles NV ... Shares Tumble On Vows Of Possible Emission Scandal

The Country Caller ^ | May 23, 2016 | Myrna Salomon

[SunkenCiv]

Shares of Fiat Chrysler are down more than 4% in pre-market trading today as investors react to a possible emission scandal relating to the company's vehicles in Germany... in over the counter markets in the US following a report from a German Newspaper that the company could be banned from vehicles in the country if it is found disregarding strict emission standards.

German paper Bild said in a story on Saturday that multiple tests from the German motor transport authority KBA have shown that several Fiat Chrysler's models had exhaust treatment systems that were switching off automatically after running for around 22 minutes. As a standard these systems are required to run for 20 minutes, Bild noted.

In a separate report the same day, the newspaper added that Fiat could be slapped upon an entire sales ban -- a blow that analysts believe could be a big one for the America-Italian automaker, already lagging behind some of the more profitable globally competitive peers. Germany is the company's second largest European market after its home-market Italy...

Without making any specific reference to the report from Gild, a Fiat spokesperson talking to the Automotive News said, "all its [Fiat's] vehicles are compliant with existing emissions rules."

The matter first came to German authorities attention when an environmental lobbying group blamed Fiat's 500 X diesel crossovers had NOx emissions well beyond the legal limits. Backing its innocence strongly, Fiat rejected to hold a meeting with the German Transport Minister Alexander Dobrindt to further discuss the issue.

[Secret Agent Man]

They?

[SunkenCiv]

Chrysler Group pays back gov’t loans; Marchionne calls day ‘major milestone’
http://blog.fcanorthamerica.com/2011/05/25/chrysler-group-pays-back-govt-loans-marchionne-calls-day-major-milestone/

[SunkenCiv]

LOL!

[CommerceComet]

Thanks for the information. I missed that along the way and was too lazy yesterday to look it up.

[SunkenCiv]

They must have really got crackin’, it was only two years later, something like that.

[SunkenCiv]

Updates:

Italy Says No Emissions Wrongdoing in Fiat Vehicles
http://www.wsj.com/articles/italy-says-no-emissions-wrongdoing-in-fiat-vehicles-1465322468

Tests show Fiat engines comply with emissions rules: minister
http://in.reuters.com/article/italy-fiat-chrysler-emissions-idINKCN0YT22I

Fiat Chrysler (FCAU) Stock Jumps After Encouraging Engine Tests
https://www.thestreet.com/story/13599602/1/fiat-chrysler-fcau-stock-jumps-after-encouraging-engine-tests.html

Also, FWIW, *wtf* is this nutty thing going on about self-driving vehicles? A lot of engineers don’t have DLs, or lost ‘em from DUI, or live with their mommies? Self-driving cars would be the last thing I would want. Cure all diseases including old age, then, down the road a piece, maybe develop a robotic car, because, who cares?

Fiat Said in Talks With Uber as Marchionne Seeks Tech Deals
http://www.bloomberg.com/news/articles/2016-06-08/fiat-said-in-talks-with-uber-as-marchionne-seeks-tech-ventures

[SunkenCiv]

Oh, and btw, I want one of these.

Along comes the 2017 Fiat 124 Spider
http://www.headlines-news.com/2015/11/18/551627/along-comes-the-2017-fiat-124-spider
http://www.headlines-news.com/news-images/2015/11/18/2a5dfiat-124-spider-front-876-200x113.jpg

These are some cool history pieces on the site:

The B-29 Superfortress: Dodge plays a major role
by Dr. David George Briant. Courtesy of the Walter P. Chrysler Club / the WPC News, July 1999.
http://www.allpar.com/history/military/b-29.html
http://www.allpar.com/photos/plants/warren-truck/B29.jpg

Chrysler, Gun Maker: Bofors Guns of World War II
by David Zatz. Thanks to Gene Yetter and Brandt Rosenbush for additional material.
http://www.allpar.com/history/military/bofors.html
http://www.allpar.com/photos/military/bofors/navy-bofors-guns.jpg

[SunkenCiv]

Stock opened lower, closed off something like 90 cents a share on Friday. I picked up some shares, and expect to buy more next week.

Fiat Chrysler Pulled From Goldman ‘Conviction List’ After Brexit
http://www.bloomberg.com/news/articles/2016-06-26/fiat-chrysler-pulled-from-goldman-conviction-list-after-brexit

Fiat Chrysler to End Production of Vehicles With Certain Faulty Takata Air Bags
http://www.wsj.com/articles/fiat-chrysler-to-end-production-of-vehicles-with-certain-faulty-air-bags-1466524669

Fiat Chrysler Might Build SUV Based on Ram
http://www.automobilemag.com/news/fiat-chrysler-might-build-suv-based-ram/

Lawsuit targets Fiat Chrysler over shifters [filed in Los Angeles of course]
http://www.usatoday.com/story/money/cars/2016/06/25/lawsuit-targets-fiat-chrysler-over-shifters/86356452/

Fiat Chrysler accused of hiding Jeep defect linked to Star Trek actor’s death
https://www.theguardian.com/film/2016/jun/23/anton-yelchin-star-trek-actor-death-jeep-defect

Fiat Chrysler: We’re ending the Dodge Viper on a high note
http://www.mlive.com/auto/index.ssf/2016/06/fiat_chrysler_were_ending_the.html

Fiat Chrysler, GM, Toyota near deals to resume Venezuela output
http://www.autonews.com/article/20160623/GLOBAL/160629907/fiat-chrysler-gm-toyota-near-deals-to-resume-venezuela-output

Why Canada Is Helping Fiat Chrysler Build a Hybrid Minivan
http://fortune.com/2016/06/15/fiat-chrysler-canada-hybrid/

Apple Has Enough Cash to Buy the Big Three Car Companies
http://fortune.com/2016/06/24/apple-google-uber-ford-general-motors/

[SunkenCiv]

Brexit Extremely Bullish For Tesla And The Automotive Industry
http://seekingalpha.com/article/3984441-brexit-extremely-bullish-tesla-automotive-industry

Tesla’s SolarCity deal is eerily Brexit-like
http://www.afr.com/technology/teslas-solarcity-deal-is-eerily-brexitlike-20160627-gptag2

Week In Review: Brexit Shocks World; Tesla Stuns Fans; JPMorgan, BofA Stressed
http://www.investors.com/news/week-in-review-brexit-shocks-world-tesla-stuns-fans-jpmorgan-bofa-stressed/

[SunkenCiv]

Carry on trading, beg German car bosses (Brexit)
Daily Mail ^ | 01:13 GMT, 27 June 2016 | By John Stevens, Europe Correspondent For The Daily Mail
Posted on 06/27/2016 2:32:06 AM PDT by Eurotwit
http://www.freerepublic.com/focus/news/3444002/posts

[SunkenCiv]

Fiat Chrysler (FCAU) Stock Jumps on Record June Jeep Sales
https://www.thestreet.com/story/13627427/1/fiat-chrysler-fcau-stock-jumps-on-record-june-jeep-sales.html

and yet, we see this:

Fiat Chrysler (FCAU) U.S. Sales Rose Less-than-Expected in June 2016
http://www.streetinsider.com/Corporate+News/Fiat+Chrysler+(FCAU)+U.S.+Sales+Rose+Less-than-Expected+in+June+2016/11794329.html

and this, right down the middle of the road (earnings come out 7-27):

Will Fiat Chrysler Automobiles N.V. (NYSE:FCAU) beat earning estimates again?
http://www.zergwatch.com/2016/07/01/will-fiat-chrysler-automobiles-n-v-nysefcau-beat-earning-estimates-again/

Churn, churn, churn, churn us fools...