Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Fiat Chrysler Automobiles    FCA   NL0010877643

FIAT CHRYSLER AUTOMOBILES (FCA)
My previous session
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweets
OFFRE

Fiat Chrysler Automobiles : GM executives defend NAFTA, Mexican truck plant

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/14/2018 | 03:24am CEST
General Motors debuts its 2019 Chevrolet Silverado pick-up truck at Eastern Market in Detroit,

DETROIT (Reuters) - General Motors Co (>> General Motors Corporation) Chief Executive Mary Barra expressed optimism on Saturday that the North American Free Trade Agreement would survive, and other senior GM executives stood by the company's plans to continue building trucks in Mexico.

DETROIT (Reuters) - General Motors Co (>> General Motors Corporation) Chief Executive Mary Barra expressed optimism on Saturday that the North American Free Trade Agreement would survive, and other senior GM executives stood by the company's plans to continue building trucks in Mexico.

At an event to tout GM's 2019 Chevrolet Silverado pickup truck ahead of the Detroit auto show, Barra twice did not answer directly when asked if the automaker is reconsidering current production in Mexico in light of potential changes or the collapse of the trade deal between the United States, Canada and Mexico.

Company executives did not rule out future changes to its North American production plans depending on the outcome of ongoing NAFTA renegotiation talks, even though it would be costly to shift production of trucks.

Rival Fiat Chrysler Automobiles NV<FCAU.N> (>> Fiat Chrysler Automobiles) said on Thursday it will move production of its next-generation heavy-duty pickup trucks to Michigan from a plant in Mexico, a move that reduces the risk that those trucks would be hit with a 25 percent tariff if NAFTA unravels.

Barra sidestepped a question about GM's Mexican truck factory, saying, "When I look at our footprint, there is so much more work and negotiations to be done on NAFTA."

Mark Reuss, GM's product development chief, said the company is using its existing truck plants in North America, but would not elaborate when asked if GM could stop building trucks in Mexico.

"I'm not sure that we would tell anybody that," Reuss said. "I don't think we'd be talking about our footprint in the future."

In a separate exchange with reporters, Reuss said GM intended to use its North American factories, including those in Mexico.

Barra, who met in November with Vice President Mike Pence along with other U.S. auto executives, said GM has been working to educate the Trump administration about the complexities of the auto industry and its supply base.

"We're going to continue to work constructively to get a modernized NAFTA agreement," she said.

Barra said she was optimistic that NAFTA would survive. President Donald Trump has threatened to walk away from the 1994 accord unless major changes are made in negotiations with Mexico and Canada.

Other GM executives defended the company's North American manufacturing strategy, saying 80 percent of the trucks sold in the United States are made in U.S. factories.

GM North America President Alan Batey said GM's Mexican truck plant supports U.S. jobs.

"The truck we build in Mexico, the engines come from the U.S. Everything is interlinked," Batey told reporters after showing off the new Silverado.

Asked what GM would do if the United States pulls out of NAFTA, Batey said GM would "have to worry about that when we get there."

(Reporting by David Shepardson; Editing by Will Dunham)

By David Shepardson

Stocks treated in this article : General Motors Corporation, Fiat Chrysler Automobiles
Stocks mentioned in the article
ChangeLast1st jan.
FIAT CHRYSLER AUTOMOBILES -0.28% 15.55 End-of-day quote.4.29%
GENERAL MOTORS CORPORATION -2.11% 35.32 Delayed Quote.-13.83%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FIAT CHRYSLER AUTOMOBILES
03:01aFIAT CHRYSLER AUTOMOBILES : Belvidere auto supplier finds its footing, wins stat..
AQ
09/21FIAT CHRYSLER AUTOMOBILES : New Special-edition 2019 Ram 1500 Rebel 12 — W..
PU
09/21KKR-BACKED CALSONIC LINES UP 5 BILLI : sources
RE
09/21KKR-backed Calsonic lines up 5 billion euro financing for Magneti takeover - ..
RE
09/20FIAT CHRYSLER AUTOMOBILES : Thrills in Rallies and on the Track during Abarth's ..
PU
09/20EU says McDonald's, Luxembourg tax deal not illegal
RE
09/20EU says McDonald's, Luxembourg tax deal not illegal
RE
09/20FIAT CHRYSLER AUTOMOBILES : Six million vehicles at Sevel, the Ducato plant
PU
09/19FIAT CHRYSLER AUTOMOBILES : Jeep® Experience Tour – Adventure and Urban Sp..
PU
09/19FIAT CHRYSLER AUTOMOBILES : Toledo Jeep factory a longshot to build new Ram pick..
AQ
More news
News from SeekingAlpha
09/20Fiat Chrysler A Buy As Trade Risk Overdone And KKR Offer Generous 
09/19FERRARI : Expensive Or Not? 
09/18Amazon Partners With Audi For The E-Tron SUV 
09/17Fiat Chrysler Automobiles to shop Magneti Marelli 
09/13Fiat Chrysler's RAM 1500 Pickup Truck To Overtake The Toyota Prius Hybrid Sal.. 
Financials (€)
Sales 2018 114 B
EBIT 2018 7 398 M
Net income 2018 4 922 M
Finance 2018 3 064 M
Yield 2018 1,73%
P/E ratio 2018 4,93
P/E ratio 2019 4,62
EV / Sales 2018 0,18x
EV / Sales 2019 0,16x
Capitalization 24 097 M
Chart FIAT CHRYSLER AUTOMOBILES
Duration : Period :
Fiat Chrysler Automobiles Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FIAT CHRYSLER AUTOMOBILES
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 18,6 €
Spread / Average Target 20%
EPS Revisions
Managers
NameTitle
Michael Mark Manley Chief Executive Officer & Executive Director
John Jacob Philip Elkann Chairman
Richard Keith Palmer CFO & COO-Systems & Castings
Harald J. Wester Chief Technology Officer
Andrea Agnelli Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
FIAT CHRYSLER AUTOMOBILES4.29%28 308
SAIC MOTOR CORPORATION-2.37%53 307
MARUTI SUZUKI INDIA-17.37%33 648
FERRARI31.12%25 941
BYD COMPANY LIMITED--.--%18 168
GUANGZHOU AUTOMOBILE GROUP CO LTD-53.38%13 850