The Zurich hospital that treated Sergio Marchionne said the Fiat Chrysler executive was seriously ill for more than a year prior to his death. But he apparently did not disclose his illness to the company. A statement from FCA said it was not aware of his serious illness and it did not comment on the hospital’s announcement.
Family members informed the company that Marchionne was seriously ill last Friday, but did not include any details citing medical privacy. The following day, FCA named Jeep executive Mike Manley as its new CEO. His family announced the auto leader’s death from complications from shoulder surgery on Wednesday.
Audi announced it will start taking orders for its first all-electric vehicle starting on Sept. 17, the day the e-tron will make its global debut at an event in San Francisco.
Audi said it will be a five passenger SUV aimed at the heart of the premium market and will appear in showrooms in early 2019. The e-tron will be the first of three battery-electric vehicles that Audi plans to debut by 2020, with nearly 30 percent of its customers in the U.S. anticipated to go electric by 2025.
Wall Street did not take kindly to the earnings report from Ford with its shares closing down nearly 6 percent and below the $10 mark at $9.89 a share. This is the first single digit close since 2012. The markets were not happy that Ford has released few details of its turnaround plan that it said would cost up to $11 billion.
GM closed down 2.3 percent to $36.75 after it posted a higher profit but trimmed its outlook due to expected higher costs for raw materials.