Fiat (Page 9)

The Chrysler Group announced the results of their second quarter for 2011 and unlike the first three months of 2011, the smallest of the Detroit Big 3 posted a loss of $370 million – much of which was due to the company’s aggressive efforts to pay off the government bailout loans.

We previously brought you the news of the MoVenture – a cross country road rally sponsored by Chrysler’s performance and aftermarket division Mopar and as hump day arrives, the MoVenture teams are halfway through their race from Detroit to Colorado.

The good times continued for Chrysler in June, as the company led all major automakers in the US auto industry with a year-over-year growth of 30% - moving them into the third spot in vehicle sales for the month of June 2011 as they jumped over a still-struggling Toyota.

The Fiat 500 tops the list of ten cars that kbb.com has chosen as the Coolest Cars for under $18,000.

This Sunday brings the Detroit area the 24th annual EyesOn Design car show but throughout this week there have been smaller events leading up to the big Father’s Day show, including the media preview where I got a chance to check out a gorgeous 1948 Fiat Topolino 500.

Fiat CEO Sergio Marchionne says he is not willing to risk the Italian automaker's credit rating to take over ownership of Chrysler.

The first Chrysler Group product to wear the Fiat badge is a Dodge Journey, though with a Fiat face and a pair of diesel engines and renamed the Fiat Freemont.

The EyesOn Design Car Show is known worldwide for its creative focus on design themes. Aside from the usual cars and interviews, a special segment on Media Preview Day showed two visually-impaired inspectors feeling gaps, fits and finishes with white gloves a 1948 Fiat Topolino 500.

Chrysler has just announced that the Street and Racing Technology division will be split off into its own cross-brand unit, moving former Dodge brand CEO Ralph Gilles to the head the new high performance brand but along with this move, Chrysler has made a handful of other management changes with an impact across North America.

Due to some legal sour grapes by some California Chrysler brand dealerships, the Chrysler Group may be forced to sell their stake in the spectacular Motor Village dealership in LA which features the company’s plans of having all five brands under one roof with salon style accessory and aftersales offerings joining the sales, service and parts for every vehicle under the Chrysler umbrella.

When Fiat SpA announced that they intended to purchase the final 6.6% of Chrysler owned by the US federal government, it was expected that the Italian automaker would also pursue the final 1.7% owned by the Canadian federal and provincial government and now we have the first reports of Fiat’s offer to the Canadian governments.

While GM, Ford and Toyota are focusing most on electrification, Fiat and Chrysler Group LLC are poised best to disengage America from expensive gasoline and gradually switch to natural gas as an alternative fuel of choice. Think dual-fuel option here.

Late last night, Fiat SpA reportedly came to an agreement with United State Department of Treasury to purchase the final 6.6% of the Chrysler Group held by the US government along with the feds remaining options in Chrysler for a total price of $560 million.

May 2011 was not a month of great sales as nearly every major automotive group showed a decline compared to May of 2010 but the Chrysler Group was among those showing growth – making them the only American manufacturer to show positive growth in May.

As a result of the “bailout loans” of 2008 and a variety of previous dealings, the Canadian government was left with a 1.7% stake in the Chrysler Group after the Fiat-run Chrysler paid off the balance of those loans but depending on how much Fiat pays for the last chunk of Chrysler owned by the US government, the Canadian government may be willing to sell their final 1.7% to Fiat.

When Fiat SpA paid off $7.6 billion dollars in debt to the US and Canadian governments this week, they effectively raised their ownership of the Chrysler Group to 46%, leaving the US government to own 6.6% while the Canadians now hold 1.7%; but according to a statement filed to the US Treasury department Fiat plans to purchase the 6.6% held by the US government before the end of 2011.

Chrysler’s Mopar division has announced the MoVenture - a cross-country road rally and scavenger hunt pitting 10 teams of hardcore Mopar enthusiasts head to head as the groups race from Detroit to Golden Colorado in 2011 and 2012 Chrysler vehicles.

This afternoon, Chrysler and Fiat CEO Sergio Marchionne will speak at a ceremony at the automaker’s Sterling Heights Assembly Plant, where he will formally thank the US and Canadian governments for their financial support but more importantly, Marchionne is expected to announce that the company is paying off the $7.53 billion owed to the two governments.

In the automotive equivalent of electricity coming to Arkansas, the first stand-alone Fiat retail point in Michigan has opened its doors. The much-heralded return of the iconic Italian brand to America has taken over a former Saturn dealership owned by the Galeana Automotive Group, now to be known as Fiat of Lakeside.

The numbers are in for April 2011 sales and for the second month in a row, the Chrysler Group showed strong growth compared to the same month a year ago with the exception being the Chrysler brand – one of just four major brands in the US to show a decline in sales growth.

Since introducing the new Pentastar V6 in the 2010 Jeep Grand Cherokee, the company has slowly spread the powerful yet efficient V6 throughout nearly their entire brand lineup and it looks like the Jeep Wrangler may soon be the next vehicle to pack Pentastar power.

Texas Auto Writers' Association just announced the 2011 winner of its annual awards where Chevy Volt, Dodge and Fiat 500 lead the top places.

This morning the Chrysler Group announced their results from the first quarter (Q1) of 2011 and for the first time in a long time, there is a reason to smile as the smallest of the Big 3 posted a profit through the first three months of $116 million.

The key roadblock preventing Fiat SpA from possessing their desired 51% of the Chrysler Group is the amount of debt owed to the US and Canadian governments but the American automaker announced this morning that they will be paying off the entirety of these loans – freeing up Fiat to make the final moves to have their majority stake in the Chrysler Group.

Fiat today unveiled the 2012 500c Convertible car at the 2011 New York Auto show with two models: the Pop and Lounge.

Chrysler and Fiat Sergio Marchionne has stated since shortly after the merger of the two companies that he wanted for Fiat to own 51% of the Chrysler Group by the end of 2011 and while there has been some speculation as to when that number will be reached, Fiat could own 46% of Chrysler as soon as June.