Scelte strategiche FCA (Piano industriale 2018 da pag 97)

[xtom]

Boh evidentemente non mi sono spiegato, ad un certo punto si allestisce la linea di produzione, si cominciano a stampare le prime lamiere e si assemblano i prototipi, che puoi far girare anche su una pista chiusa come al Balocco e non farle vedere al pubblico, ma ciò non toglie che questo processo abbia bisogno di mesi. 

 

Puoi avere tutte le tecnologie virtuali per simulare tutta la progettazione, ma non puoi simulare la produzione, a meno che Alfa non diventi il primo brand a produrre auto virtuali che vedremo solo nei videogame.

[jameson]

11 minuti fa, xtom scrive:

...a meno che Alfa non diventi il primo brand a produrre auto virtuali che vedremo solo nei product plan.

Fixed

Modificato 31 Ottobre 2018 da jameson

[nucarote]

C-SUV e E-SUV stanno girando su qualche server farm dalle parti di Modena/Torino in cui faranno buona parte dei test. 

Però i muli ti servono non solo per affinare i test, ma sono anche strumenti di comunicazione, poi non escludo che a Ginevra se ne escono qualche concept oppure iniziano a far filtrare qualche render sul web in un momento imprecisato del 2019.

 

 

[Bare]

https://seekingalpha.com/article/4216074-fiat-chrysler-automobiles-nv-fcau-q3-2018-results-earnings-call-transcript?part=single

 

Quote

 

In Europe, we did not enter the WLTP transition as lean on inventory as we would have hoped, and therefore, we needed to utilize high discount sales channels which obviously yielded lower margins and came at a cost to us in the quarter. Now, on a positive note, all vehicles across each of our brands in EMEA were certified under the WLTP standards in advance of the regulatory deadline, and therefore, we're not going to be limited in our offerings going forward. And I would like just to take a moment to thank our powertrain and vehicle engineering teams that worked hard to make that happen.

 

And as you know, we recently announced the appointment of Pietro Gorlier as COO of the region. And Pietro has a strong track record of improving margins at Magneti Marelli and MOPAR. And he's already focused on this task in EMEA. And as a result, we'll have a more disciplined approach both from a brand and a channel mix perspective. And I expect to see positive development at our brands and improved margins over the coming quarters even if this comes with the short-term reduction in overall volume. The end result will be a better quality business in our EMEA region.

 

 

Quote

 

Rod Lache - Wolfe Research

Hi, everybody. Had a few questions. First, was wondering if you could provide just an early view on Europe heading into 2019 for the market and for Fiat Chrysler specifically. Obviously, some volatility right now, but do you believe that the volume and pricing weakness is temporary or no?

Michael Mark Manley - Fiat Chrysler Automobiles NV

So this is Mike. I think what we saw in the third quarter, as we described, really was driven by that level of inventory as we came up to that transition date which meant that we had to do things over and above we would normally do to get our inventory in the right position. But, notwithstanding that, if I look back at our performance in EMEA, we began to make progress in terms of our overall margins. And I think that was focused on the areas of, clearly, Jeep brand and mix.

But, from my point of view, I think we still have significant upside and that's one of the key reasons why I think Pietro is a great fit for that role. We clearly have a strong benchmark in Europe, and I think the way that they have improved their margins is something that we've shown we can do in North America and we now just need to make sure we do, do it in EMEA.

So, I see the third quarter as an anomaly. I think we'll improve from that. I think it will take a little while just to clear out some of the used cars from the entire channel that Richard talked about. But we're very focused on margin improvement not just on that price position but also our cost position. So, from that regard, I think we understand what we need and the third quarter, as I said, was an anomaly.

 

 

Quote

 

Monica Bosio - Intesa Sanpaolo SpA

Good afternoon, everyone. I would have three questions. The first one is a follow-up on EMEA. I understood that inventories are expected to slow down and to normalize in the last quarter. I'm just wondering should, in any case, expect a still negative pricing impact and a sort of cash burning (54:34) from EMEA in the last quarter?

The second question is on Maserati. It's a similar question. It's on the volume slowdown. I can imagine that the last quarter would be similar to the third quarter given that China is the main contributor to the slowdown of the volume. Can you just give me a check on this and maybe some color on what you expect for Maserati in 2019?

And the very last question is a more general question on the raw material. Can you just give a rough indication of the impact of the higher raw material costs for 2018? If I remember well, you have added contract on the raw materials that are going to expire in this year and I'm just wondering what we can figure out for the next year in terms of higher impact from raw materials given that the steel price is increasing and, if I'm not wrong, also the plastic. Thank you very much.

Michael Mark Manley - Fiat Chrysler Automobiles NV

Yeah, Monica. This is Mike. I'm going to answer the Maserati question first. Obviously, the conditions in China market aren't helping. As you know, with Maserati, China accounts were around 50%, maybe just over 50% of Maserati's profit comes from one market. But I think, with hindsight, when we put Maserati and Alfa together, it did two things. Firstly, it reduced the focus on Maserati the brand. And secondly, Maserati was treated for a period of time almost as if it was a mass market brand which it isn't and shouldn't be treated that way.

 

So, what we've now done is really purify the focus on the brand, split it from Alfa as you know, put Harald Wester in charge. And Harald has a good understanding of the luxury segment and a deep understanding of Maserati as a brand. That will be followed by some further actions that we're going to take in the fourth quarter. And I think, for me, when I look at Maserati's performance, it's not so much a product issue, but more a management and focus issue. So I think we've had those things addressed. The product remains competitive. In fact, the Levante just won a Texas SUV of the Year Award and that's highly competitive.

So, I think it would take at least two quarters as I said in my opening statements to sort through some of the channel issues, but I am expecting Harald and his new team to make some significant progress with Maserati as we get into the second half of 2019.

 

 

Quote

 

Michael Mark Manley - Fiat Chrysler Automobiles NV

Let me quickly deal with Maserati. The margin target, as you said, was 15% in 2022. I have no reason to believe that Maserati can't achieve that with what I'm seeing today. In terms of Alfa, Alfa does not make a contribution in our business plan – in our performance this year. We are seeing what I think is some good improvement with Alfa.

If you look at its volume improvement year-over-year in the three regions that it operates in, on average, I think it's about 20% up so far. And that volume, even though we're seeing good growth, I still need that volume to grow. So, Alfa, as we get into next year, will have a significant interior refresh and I think that would just build on the volume that we're seeing – the volume improvement we're seeing this year, but it's not making a contribution in 2018.

 

 

Quote

 

José M. Asumendi - JPMorgan Securities Plc

Yeah. Thanks so much. Just a couple of questions, please. First one on Europe for Mike. Do you mind maybe sharing your longer-term plans for the region? Are you happy with the current margin structure? Do you think you need to do any changes on the cost structure or product cycle for that matter?

And second for Richard. Working capital assumptions for the fourth quarter, can you help us a little bit around receivables, payables and inventories. What are your best assumptions now for the fourth quarter which should tie up with your cash guidance for the year, please? Thank you.

Michael Mark Manley - Fiat Chrysler Automobiles NV

Yeah, José, it's Mike. No, I'm not happy with what I see in EMEA, notwithstanding the fourth quarter. As you know, our margins – notwithstanding the third quarter rather – our margins before that were around, I don't know, 2.8%, 3% margins. We know that some of our peers are getting more than 6% in the region. I think we have a good understanding of what we need to do to deliver that.

And I'll just quickly click down and let me know if it answers your questions. One of the things that I think we have the benefit of is the brands and I think our brand positioning needs to be clarified. That work is now done and I'm talking about the part of the segment that they play in because that's done. I think we can now truly focus on our pricing and our average transaction price because we've got a much clearer picture now of the competitors that we need to be going after.

So I think that there is, for sure, pricing opportunity particularly with the product refreshes that we've got. Our channel mix in Europe, as you know, has often been our weakness in the past. It would take us a little while to make permanent adjustments to that and you may see some volume impact, but the quality of our margins will improve as a result of doing that. And that's something that Pietro and the team are already focused on.

From a cost point of view, clearly, if you can combine margin improvement with the cost point of view – with an improved cost base, then for me, we can get margins that grow fairly significantly. And one of the big focuses for us in the area is to drive our margins up particularly as we get closer to 2021 and higher levels of electrification.

So I think we have the right team in place. I think we have a right understanding of the things that we need to do. Some of those actions are quicker than others. But all of them now are in focus and underway. And I'll hand it to Richard for the second part of the question.

 

 

 

 

 

[falconero79]

vedo che vi guardate bene dal scrivere e commentare il dividendo extra.

Beh saranno contenti gli azionisti.

Alla faccia che servivano per essere investiti.

https://www.repubblica.it/economia/2018/10/30/news/fca_conti_nove_mesi-210383770/?ref=RHRS-BH-I0-C6-P27-S1.6-T1

[SolidSnake]

È una mossa che viene fatta per ripristinare l'appeal delle azioni che si è un po' spento dopo la scomparsa di Marchionne.

[GinaCostanza76]

4 ore fa, fedegta scrive:

Chiediamo a @GinaCostanza76 se anche per Giulietta è previsto un giga restyling degli interni (oltre che fuori s'intende). Contando che le ultime promo scontano di 6/7k euro il nuovo, mi sa tanto di sbarazzo dei magazzini in attesa di un aggiornamento del modello. Anche perchè se continuasse sta politica aggressiva sui prezzi tra un anno la Giulietta te la danno come resto dal tabacchino. Ultima ma non meno importante avvisaglia di ciò che deduco è la Veloce S: mi sa tanto di canto del cigno, l'ultima schioppettata a 38k € come Instant Classic.

 

Ben venga un aggiornamento degli interni di Giulia e Stelvio con i MY19: come diciamo sempre ottima logica quella di affinare i modelli year by year. Se finalmente sarà così ottimo!

Non so nulla ne su Giulietta ne sulla restante gamma Alfa, sono dispiaciuta. Immagino io che nel 2019 Giulia e Stelvio con interni aggiornati e restyling esterno e LWB nel 2020

E ovviamente PHEV e 1.5 GSE

[Bertoz]

1 ora fa, nucarote scrive:

C-SUV e E-SUV stanno girando su qualche server farm dalle parti di Modena/Torino in cui faranno buona parte dei test. 

Però i muli ti servono non solo per affinare i test, ma sono anche strumenti di comunicazione, poi non escludo che a Ginevra se ne escono qualche concept oppure iniziano a far filtrare qualche render sul web in un momento imprecisato del 2019.

 

 

Essendo Alfa Romeo ritenuto un marchio globale, potrebbe anche darsi che qualche anticipiazione (tipo concept car) potremmo gia' vederla al Salone di Los Angeles a fine novembre.

D'altronde fu proprio li' che Stelvio debutto' come anteprima mondiale, in versione QV, a fine 2016.

[GinaCostanza76]

4 ore fa, stev66 scrive:

Guarda caso, in europa è stato dichiarato che si preferisce vendere meno ma meglio.

con buona pace della Panda a 7400 euro pubblicizzata da un noto attore, youtuber, cantante, etc.

La smettiamo con le finte promozioni! Una Panda a 7400 euro non la puoi acquistare sei legato al finanziamento e il prezzo finale è 3200 euro maggiore

[stev66]

49 minuti fa, GinaCostanza76 scrive:

La smettiamo con le finte promozioni! Una Panda a 7400 euro non la puoi acquistare sei legato al finanziamento e il prezzo finale è 3200 euro maggiore

 

Vero ma qual è il prezzo di listino ?  11.690 euro .

 

E la paghi in 8 anni .

 

 

Modificato 31 Ottobre 2018 da stev66