Fiat (Page 10)

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.

Chrysler Corporation announced this morning that the company has reached the second of three performance requirements set by the government, allowing Fiat to raise their ownership of the Chrysler Group from 25 to 30%.

The Chrysler Group has announced their first work stoppage due to the Japanese earthquake, tsunami and nuclear crisis as the Detroit automaker has cut planned overtime at the Brampton, Ontario and Toluca, Mexico production facilities in an effort to conserve electric components sourced from Japan.

Fiat and Chrysler CEO Sergio Marchionne wants Fiat SpA to increase ownership of the Chrysler Group from 25 to 51% by the end of 2011 and if new reports are correct, Fiat could increase their stake in Chrysler by 5% in the coming weeks.

March sales numbers are in and with a gain of 31%, the Chrysler Group leads the US auto industry in terms of year over year sales growth among major automotive groups.

Motor Village LA is one of Chrysler’s newest projects, combining all five of their American-sold brands in one (immaculate) LA-based dealership but according to the California New Car Dealers Association, Motor Village LA is in violation of California law that prevents automotive manufacturers from owning dealerships within 10 miles of any other related dealership.

Reports indicate that the 2012 Fiat 500 Cabrio (convertible to most in the US) will make its grand debut for the North American market at the 2011 New York International Auto Show starting in late April.

A while back, Detroit’s Cobo Hall hosted the 2011 Detroit Autorama, offering Motor City show-goers a chance to check out some of the best looking cars from around the area and around the country but amidst the crowd of garage-kept trailer queens, Team Detroit Racing brought out a spread of great looking high performance cars.

According to comments made by Jeep CEO Mike Manley, the Trail Rated American automaker is working on a new sub-compact “B-segment” sport utility vehicle based heavily on modified, existing architecture from the Fiat brand that we can expect to see hit the market for the 2013 model year.

The Fiat brand has been turning heads in the US as the Italian compact makes its return to the American market but as the 2011 Geneva Motor Show opened this morning, Fiat is turning heads with a sexy coupe concept based on the 2012 500 with help from Zagato.

This past Friday, Chrysler Group LLC issued a 300 page report to the US Securities and Exchange Commission pertaining to the first full calendar year of the automaker under new parent company Fiat and included in that SEC filing was the new that Chief Executive Officer Sergio Marchionne received no cash payments in 2010.

Today at a media event at the Chrysler Tech Center, Fiat brand CEO Laura Soave stated that the US brand rollout is behind schedule as we rapidly near the date that the company had hoped to have the bulk of their new Fiat dealerships up and running.

While the Fiat 500 is not priced like many high fashion luxury brands, the Italian automaker is all about style and that aspect of the modern Fiat brand is accentuated by the 2012 Fiat 500 by Gucci.

The Chrysler Group has announced that they expect their dealer network to move 1.57 million vehicles in 2011 – a lofty 44.6% increase over the final sales results for the company in 2010.

While speaking in San Francisco this past weekend, Chrysler and Fiat CEO Sergio Marchionne referred to the multibillion dollar loans from both the US and Canadian government as “shyster loans” – comments which the auto boss now regrets.

Speaking before a group of the media today at the J.D. Power and Associates International Automotive Roundtable, Fiat and Chrysler CEO Sergio Marchionne stated that the Chrysler Group and Fiat Auto could become a single company, possibly based in the United States.