Final big event as CEO could see the boss wearing a tie, too.
Sergio Marchionne is a truly divisive character.
You have reason to love him: The man saved Fiat-Chrysler from the brink of death in 2004, where the company has seen its value increase ten-fold since. He’s also successfully spun-off Ferrari into its own highly-profitable business, separate from FCA but still under the control of the Agnelli family of Italian industrialists. And you could say that he’s heralded a renaissance for Alfa Romeo, now enjoying strong sales thanks to its Stelvio SUV and Giulia saloon.
You also have reason to hate him: Under his purview, Lancia got the axe. Fiat’s range has been shrunk to the 12-year old 500 and the Panda. Maserati has a truly woeful SUV in the Levante, and Ferrari is set to introduce an SUV of their own.
Love him or hate him, Marchionne’s been an interesting character to have in the automotive industry. Sharp and straight-to-the-point, he isn’t known for pulling punches, with often scathing or comical remarks about goings-on within the sphere. And next year, the loud Italian will retire from his position as FCA boss, but not without outlining the future of the company he will leave behind.
A shrewd businessman at heart, Marchionne is set to make moves that go against sentiment and aim wholeheartedly at profitability. The namesake brands of the conglomerate, Fiat and Chrysler, will see their progress slowed. The Italian marque will see its range limited to the 500 and the Panda, whereas the Chrysler brand will be limited to the US for the most part, according to Bloomberg.
Expansion is on the horizon for Jeep and RAM, with the former company having contributed some 70% to FCA’s overall profits. The RAM brand of brawny trucks is likely going to see a global rollout plan to capitalise on the present fever around high-riding passenger cars, whereas Jeep will probably be given a greater portion of funding to develop more relevant drivetrains and technologies to bolster global appeal.
It’s also possible that Alfa Romeo and Maserati, the other Italian brands under FCA that are currently enjoying a surge in popularity on the back of their respective SUVs, will be lumped into one division in FCA’s financial reports. This lends credence to rumours that the company will seek to spin-off Maserati and Alfa Romeo and separate them from FCA, the way they did with Ferrari.
What this writer is particularly interested to see during Marchionne’s address is, oddly, his neckwear. Marchionne purportedly detests ties, but will wear one should he manage to eradicate industrial debt from Fiat-Chrysler Automobiles. Should that tie be present, it will signal to the world that FCA will continue to perform strongly following his departure. Chairman John Elkann, the head of the Agnelli family that controls FCA, has a tie for Marchionne in his desk drawer.
Stay tuned to CarShowroom for more updates as they come.
