Next-Gen Ram Heavy-Duty Truck Production Moves From Mexico to MI
Jan 14 2018 by Desiree Burns
It is moving production of the Ram Heavy Duty truck from Mexico to Warren plant.
Fiat Chrysler Automobiles has announced plans to invest more than $1 billion into the Warren Truck Assembly Plant in MI to prepare the plant to build the next-generation of Ram Heavy Duty pickups. Morgan Stanley raised their price target on Fiat Chrysler Automobiles from $14.00 to $18.00 and gave the company an "overweight" rating in a report on Tuesday, November 21st. "Chrysler is moving a massive plant from Mexico to MI, reversing a years long opposite trend", the President tweeted.
Macomb County Executive Mark Hackel says he's "excited" about heavy-duty Ram production joining the Dodge Ram light truck, which is made at nearby Sterling Heights Assembly.
What's more, FCA said it would pay a $2000 bonus to 60,000 hourly and salaried employees, which the company said was made possible by a huge corporate tax cut enacted late previous year.
"It is only proper that our employees share in the savings generated by tax reform and that we openly acknowledge the resulting improvement in the United States business environment by investing in our industrial footprint accordingly", said CEO Sergio Marchionne.
The recall affects 2017 model year Pacifica minivans, including 153,859 vehicles sold in the USA, the company said.
The decision to put the Ram HD pickup in Warren is the latest in a series of moves by Fiat Chrysler to enhance its truck production while cutting back on passenger auto output.
Evolution of mobile phones
Like the flip phone, it was also comprised of two parts but they came together and apart by sliding the parts on a rail. Given the fast pace of growth, the future is bound to hold even many more implications for mobile phone users.
Are Video Games Getting More Intellectual?
And because of this, games that focus on history, geography, or other elements of the real world can now almost be educational. It may sound somewhat hard to believe, but there have already been artistic exhibitions for people’s Tilt Brush designs.
The company said the move will add 2,500 jobs in Metro Detroit by 2020, when the plant retooling is completed. That's part of a broader plan that included shifting Jeep Cherokee production from Toledo to Belvidere, Ill.
The plant in Mexico will be repurposed for the production of commercial vehicles to be sold outside the US, the company said in a statement. While automakers are paid more in the USA, the added labor cost pales in comparison to the threat of a tariff, Dziczek said.
If NAFTA ends, the US nearly certainly would slap a 25% tariff on every truck shipped across the border.
"I wasn't too excited about President Trump's tax cut, but this clearly is a residual benefit of that", Fouts said.
Talks between the USA and Mexico bogged down in late November after Mexico proposed to limit US companies' ability to bid on government contracts.
Among 15 analysts covering Fiat Chrysler (NYSE:FCAU), 8 have Buy rating, 3 Sell and 4 Hold.
Meanwhile, Toyota Motor Corp and Mazda Motor Corp on Wednesday announced they would build a new US$1.6 billion joint venture auto assembly plant in Alabama, drawing praise from Trump.