Fiat

Canadian government may sell remaining stake to Fiat

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.

Fiat plans to buy last 6.6% of Chrysler from US govt

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 officially announces early repayment of the US and Canadian bailout loans

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.

Chrysler announces bailout loan repayment plans

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.

Chrysler alters production at Charger/Challenger, Fiat 500 plants due to Japanese crisis

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.

California dealer group files petition against Motor Village LA

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.

Team Detroit Racing brings out the big dogs to Detroit’s Cobo Hall

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.

Chrysler CEO Sergio Marchionne received no cash salary in 2010

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.

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