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)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Fiat Chrysler Automobiles : Italy's ruling parties at odds over taxing high-emission cars

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/06/2018 | 09:42am EDT
FILE PHOTO: Traffic moves along a road during a hot summer day near Rome

ROME (Reuters) - Italy's ruling parties were at odds on Thursday over an amendment to the 2019 budget law, introduced this week, that would raise taxes on traditional fossil-fuelled cars.

Late on Tuesday, Italy's Lower House Budget Committee approved subsidies of up to 6,000 euros (5,343.60 pounds) for those who buy low-emission vehicles, but at the same time it added a surcharge of up to 3,000 euros on sales of petrol and diesel cars.

The new rules had been encouraged by Italy's ruling 5-Star Movement, a pro-environment party, but on Thursday its coalition partner slammed the planned tax increase.

"I'm absolutely against any new tax on cars, which are already among the most taxed in the whole of Europe," League party leader Matteo Salvini said in an interview with Radio Rai1, adding that people who turned to more polluting models did so out of necessity, not choice.

Before forming the government together in June and having a common policy platform, dubbed as "the contract with Italians", the two parties were rivals and they run separately at local elections.

They have been at loggerheads several times since taking power, including over other measures 5-Star opposes in part for environmental concerns, such as the Franco-Italian high-speed rail link, which the League backs.

Luigi Di Maio, also deputy prime minister and leader of the 5-Star, replied to Salvini, saying the government would improve the measures.

"We do not want to harm families in difficulty .. who pick the cheapest car, nor do we want to create a shock to the Italian car market, to manufacturers or their workers," Di Maio said on Facebook.

Changes to the amendment would be agreed with consumer associations, sector trade unions, and car producers, he said.

Electric, hybrid and methane gas-powered cars made up 7 percent of Italy's car sales last month, according to data provided by foreign car manufacturers association UNRAE.

However, Italy's main car manufacturer Fiat Chrysler does not sell any electric and hybrid cars at present in Europe.

The expansionary budget - contested by Brussels for not respecting European rules - is currently being discussed by parliament and is due to receive a final green light by the end of the year.

(Reporting by Giulia Segreti, editing by Steve Scherer and Elaine Hardcastle)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FIAT CHRYSLER AUTOMOBILES
06:58pFCA WHAT'S BEHIND : a Look Behind the Scenes at FCA's R&D Activities
PU
03:53pFIAT CHRYSLER AUTOMOBILES : FCA Statement Regarding Michigan and Detroit Investm..
PU
11:33aFCA WHAT'S BEHIND – EPISODE 2 : Cars Undergo Extreme Heat Testing in South..
PU
10:16aFIAT CHRYSLER AUTOMOBILES : 2019 Chrysler Pacifica Hybrid Crowned Overall Best F..
AQ
08:08aFIAT CHRYSLER AUTOMOBILES : Sting and Shaggy "launch" the new top-of-range 500 S..
PU
05/20FIAT CHRYSLER AUTOMOBILES : 2019 Chrysler Pacifica Hybrid and 2020 Jeep® Gladiat..
PU
05/20FIAT CHRYSLER AUTOMOBILES : TxMPA Crowns 2019 Ram 1500 Rebel ‘Texas Off-ro..
PU
05/20FIAT CHRYSLER AUTOMOBILES : FCA Replay' Wraps the Week
AQ
05/20FIAT CHRYSLER AUTOMOBILES : Bob Bondurant School of High Performance Driving Pur..
PU
05/20Fiat Dents Rivals' Pickup Power -- WSJ
DJ
More news
Financials (€)
Sales 2019 110 B
EBIT 2019 6 973 M
Net income 2019 4 493 M
Finance 2019 3 650 M
Yield 2019 5,15%
P/E ratio 2019 3,95
P/E ratio 2020 3,96
EV / Sales 2019 0,13x
EV / Sales 2020 0,12x
Capitalization 18 537 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
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 15,2 €
Spread / Average Target 27%
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 AUTOMOBILES-5.68%20 679
SAIC MOTOR CORPORATION-6.71%42 114
MARUTI SUZUKI INDIA-5.10%30 717
FERRARI45.94%27 398
BYD COMPANY LIMITED--.--%18 304
EXOR NV20.86%15 357