Fiat and Chrysler can get to know each other a little better, now that CEO Sergio Marchionne has introduced a single team to manage both companies. And it’s quite a shake-up: Fiat, Chrysler, and Lancia get new CEOs, while Fiat-Chrysler gets four regional executives to oversee the company in North America, South America, Europe, and Asia. Marchionne...
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Fiat CEO Sergio Marchionne has ambitious plans for the Maserati, specifically to drastically improve sales almost tenfold from last years 5,675 units sold to 50,000. Marchionne believes this is attainable through three new Maserati models, all based on systems and components from Chrysler Group. Maserati will introduce two sedans and an SUV with technology from...
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Sergio Marchionne, CEO of Chrysler Group and Fiat, announced that Maserati’s future SUV will make its world debut in September at the Frankfurt Auto Show. The concept vehicle at the show, will provide a good idea as to what to expect from the production version set to follow in 2013. The Maserati SUV will be...
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Fiat, has offered Canadian government $125 million for its 1.7 percent stake in Chrysler. Last week, Fiat made a $500 million offer to the U.S Treasury to buy out the remaining 6 percent stake held in Chrysler, according to Reuters. With the involvement of the U.S Treasury, Fiat hopes to increase its ownership of Chrysler...
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The Chrysler Group LLC is expected to announce today that it has reached a deal to refinance its debt. The Auburn Hills based company plans to repay $7.5 billion in government loans to both the U.S and Canadian governments by May 24th. Chrysler owes $5.9 billion to the U.S and $1.6 billion to Canada....
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Maserati‘s newest sedan, rumored to be a smaller model comparable to a BMW 5-Series in size, will be built in Italy, after a deal was struck between an Italian labor union and Fiat CEO Sergio Marchionne. Workers at the factory, formerly managed by Bertone, agreed to longer shifts and shorter breaks in exchange for the...
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Proving that you might actually be able to stop a train wreck that’s already in progress, under the stewardship of Fiat CEO Sergio Marchionne, Chrysler has posted a profit. Blaming high interest rates on its government loans for not climbing into the black earlier, Marchionne today reported a net income of $116 million, compared to...
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Chrysler is preparing to pay back $6.6 billion on government loans, but the company will do so not from its own cash but by re-financing existing debt. Current terms of the government loans have Chrysler paying 12 percent interest per year. While Chrysler would not be out of debt, they would theoretically free themselves from...
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The Jeep Grand Cherokee will once again be offered with a diesel powerplant says Fiat/Chrysler CEO Sergio Marchionne. Jeep cut the diesel option from its flagship SUV when it introduced the current generation model and Jeep has been officially quiet on its return – until Marchionne’s comments now. An exact date for the new diesel...
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Those who have been eagerly awaiting the return of the Alfa Romeo brand to North America will have to continue to be patient as the premium Fiat group brand won’t arrive in 2012 as previously planned. According to sources inside Alfa, the brand’s launch in the U.S. and Canada has been pushed back until 2013....
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Fiat is set to increase ownership in Chrysler, from 25 to 30 percent, within the next few weeks, assuming regulatory bodies are satisfied with Fiat’s ability to meet specific demands for Chrysler. Fiat has already been able to generate $1.5 billion in revenue for Chrysler outside of North America, but still needs to build a...
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Fiat may currently own a 25-percent stake in Chrysler, but that’s not enough for them: by the end of the year, says Fiat CEO Sergio Marchionne, the Italians will increase their stake to over 51% and own more than half of Chrysler. While not an outright merger (because Chrysler is probably pretty wary of those...
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Despite claims by Fiat that its not letting go of Alfa Romeo, Volkswagen is continuing to put pressure on the powers-that-be to acquire the premium brand. Most recently VW chairman Ferdinand Piech commented that under the German automaker’s ownership sales of the Italian brand would quadruple. Now comes word that Volkswagen already has a complete...
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If Fiat ever sells Alfa Romeo, says VW chairman Ferdinand Piech, Volkswagen could take the underperforming brand and quadruple its sales within five years. Ambitious? Fiat CEO Sergio Marchionne certainly doesn’t think so. “As long as I am CEO of Chrysler and Fiat,” he said, “Mr. Piech will never have Alfa Romeo.” Marchionne suggested to...
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After repeatedly voicing his interest in purchasing the Alfa Romeo brand from its Fiat parent company, Volkswagen Chairman Ferdinand Piech today received a decisive answer. It’s just not the answer he was looking for. “As long as I am CEO of Chrysler and Fiat, Mr. Piech will never have Alfa Romeo. It’s hands-off,” said Fiat...
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Chrysler Corporation will look to introduce a new compact van for either Dodge or Chrysler, with the new model replacing that brand’s current minivan offering. Sergio Marchionne, CEO of Chrysler and Fiat, made the comments to reporters gathered at the North American International Auto Show. The move will take place by 2013 says Marchionne, with...
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Fiat is looking to up their stake in Chrysler from 20 percent to over 50 percent, according to reports in the Detroit News. Fiat was awarded a 20 percent stake in the company as part of Chrysler’s bankruptcy proceedings in 2009, and can increase its ownership as it passes a series of milestones. Marchionne also...
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The Porsche Cayenne better get ready, because Maserati is all set to introduce a new SUV based on the Jeep Grand Cherokee. Word of the new model comes from none other than Fiat and Chrysler CEO Sergio Marchionne. “This is just a great architecture,” said Marchione to the Wall Street Journal. “Why wouldn’t I put...
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Jeep‘s venerable Wrangler will get the much lauded Pentastar V6 next year, according to Fiat CEO Sergio Marchionne. Marchionne confirmed that the 2012 Wrangler will do away with the current 202 horsepower V6, and adopt the newest Chrysler 6-pot, which makes between 283 and 305 horsepower. Also confirmed was the upcoming Dodge compact hatchback based...
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Fiat’s got a new boss, but fans of black sweaters shouldn’t fret; Sergio Marchionne, the man who lives by the phrase “business casual”, will still retain control of the Fiat/Chrysler monolith. Lest we forget that Fiat itself is also a car brand, and somebody needs to oversee the Fiat car lineup. For that job, Andrea...
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News of a new 8-speed automatic for rear-drive Chrysler vehicles has been floating around for a few months now, but it appears as though the American automaker has one more trick – or should we say one more gear – up its sleeve. At Chrysler’s recent dealer meeting (the first in three years) those in...
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The biggest news out of Chrysler this week wasn’t Sergio Marchionne’s plan for an IPO in 2011, but the secret showing of a next generation Dodge Viper. Unveiled at the first Chrysler dealer meeting in three years, Chrysler made sure the press didn’t get a look at its new supercar. But according to one observer,...
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Chrysler CEO Sergio Marchionne announced that parent company Fiat is looking to increase its stake in Chrysler to 35 percent, and is looking to bring out a Chrysler IPO in the second half of 2011. “I don’t think it’s the first part; I think it’s a second-part-of-the-year event,” Marchionne told the assembled media at Chrysler’s...
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With FIAT preparing a return to North America, company CEO Sergio Marchionne said that Alfa Romeo vehicles would complement Fiat products in the same showrooms, giving dealers a wider array of vehicles to sell. Currently, only the 500 small car is slated to be sold, and the niche product will likely be unable to generate...
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