Fiat could increase stake in Chrysler within weeks
The US Government obtained a portion of the Chrysler Group as a portion of the controversial “bailout” but when Fiat SpA showed interested, the feds set up a deal with the Italian automaker to unload their share in Chrysler. Fiat received 25% at the time of the merger with another 10% promised if the new company could meet a trio of goals set by the government. The first 5% comes from a set of requirements; Chrysler Group must reach 1.5 billion in revenue outside of North America and 90% of Fiat’s Latin American dealerships must offer Chrysler vehicles. According to Automotive News, inside sources claim that the 1.5 billion in revenue has been achieved and with the rebadging of Chrysler vehicles as Fiats being sold at Latin American dealerships, the first 5% might be coming soon should the feds find that these two goals have been met.