Fiat Chrysler to build 3 new Jeeps, create 2000 jobs in US

Although sales dipped in 2016, the Caravan and Town & Country still commanded a significant share of the Canadian and US minivan market. Mexico is for us a very big market as well.

Then again, as the FCA CEO said, America’s never had a tweeting president. The move comes in response to recent threats, against automakers, from President-elect Donald Trump to impose heavy taxes on imported vehicles.

The company’s press release confirmed that its latest announcement is “c$3 onsistent and combined with previously announced investments”, noting also that FCA US has invested over $9.6 billion in plants in various USA states, creating 25,000 jobs since 2009. For this reason, it’s also been seen as the most likely to benefit from the Trump administration and Republican-controlled Congress reducing regulatory demands for improved fuel economy, spurring a surge in the stock price.

Bill Ford also said he is encouraged by Trump’s choice of Elaine Chao to head the Department of Transportation.

The series of events in the global auto industry is causing jitters in Korea’s auto industry.

But GM Chairman and CEO Mary Barra said Sunday the automaker does not plan to change its production plans for the Mexican-built Chevrolet Cruze Hatchback, which Trump called out last week in a tweet.

A Mexican-US trade war over cars would have “relatively limited” impact on the US – but would be awful for Mexico.

The automaker had initially planned to export 80 percent of the cars made at the Mexico plant to the U.S. and some 80 countries, and to sell the rest in Mexico.

“You can build a vehicle in Mexico and you’ve got really good trade agreements with a wide portion of the globe”, he said, adding that the USA needed better deals for markets “across the oceans”, and not just with neighbors Canada and Mexico.

Fiat Chrysler Automobiles NV said it might have to shut its Mexican auto plants if President-elect Donald Trump carries out his campaign vow to slap tariffs on vehicle imported into America.

But he did say the automaker, which owns the Jeep brand, “will adapt” to the policies of the incoming president, who will take office on January 20.

Sergio Marchionne, at the media preview day of the Detroit auto show, told reporters, “All of you have been persistent in asking the question of what are you going to do about president-elect Trump. In addition, these all-new products will reach new consumers, as well as those that have been part of the Jeep tradition”, Marchionne said.

The United States is the second-largest automobile market, behind China. “We didn’t twist ourselves into a pretzel (to make this decision)”.

“Not at all. I mean look, we made our own decision, we have to make our own decisions, we have to do what’s right for our shareholders, and we will”.

Trump predicted that “a lot of industries” will be returning to the United States to make investments and create jobs here. Last week, Ford announced to cancel its $1.6 plant in Mexico and invest $700 million in a plant in MI.

General Motors and Toyota raised Trump’s online ire last week, with the latter being the first example of a non-US carmaker coming under fire. The company says a plant near Detroit will make new Jeep Grand Wagoneers and a plant in Toledo will make new Jeep pickups, CNBC reports.