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Fiat, Chrysler Reorganizing, Unveil New Logo and 2013 Earnings

Motor Trend logo Motor Trend 1/29/2014 Erick Ayapana

Chrysler and Fiat took another big step in their marriage. Weeks after Fiat gained full control of Chrysler, the Group has reorganized to become Fiat Chrysler Automobiles (FCA), and has launched a new logo to solidify the big step.

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Fiat’s Board of Directors today approved plans for the corporate reorganization, finalizing details for shareholders and FCA common shares. FCA will release long-term business plans this May and expects the transaction to close by the end of 2014. For now, the Group states that there will be “no impact on headcount” and that all global plants, including the ones in Italy, will continue “with the same mission.”

2013 chrysler 300S© Provided by MotorTrend 2013 chrysler 300S The Group also unveiled its new logo, which is dominated by “FCA” letters sporting a periwinkle-like shade of blue. FCA says the letters represent “essential shapes” in automobile design with the “F” representing a concrete solidity, “C” symbolizing wheels and movements, and the “A” indicating “energy and a perennial state of evolution.”

Fiat, Chrysler Reorganizing, Unveil New Logo and 2013 Earnings

2013 Financial Report

The Group also released its latest financial report, which shows a net income of $1.8 billion in 2013, a 9-percent improvement over 2012. The company finished the year off with a strong fourth quarter, posting a net income of $659 million, up 74 percent from the same period in 2012. Worldwide sales for the year totaled 2.4 million units (versus 2.2 million in 2012) with all brands showing gains, including strong performances from Dodge, Ram, and Jeep.

Looking ahead, the Group is expecting even more good news. Its predicted net income for 2014 has been set at $2.3-2.5 billion and worldwide vehicle shipments are expected to jump to 2.8 million units, versus the 2.6 million it shipped last year.

“Today is one of the most important days in my career,” Group CEO Sergio Marchionne said in a statement. "Today we can say that we have succeeded in creating solid foundations for a global automaker with a mix of experience and know-how on a level with the best of our competitors.”

Source: Chrysler

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