GM and Chrysler To Cut 3000 U.S. Dealers
May 13, 2009
DETROIT May 13, 2009; Soyoung Kim and John Crawley writing for Reuters reportesd that General Motors Corp and Chrysler aim to drop as many as 3,000 U.S. dealers and are expected to begin sending notifications as early as Thursday, three people briefed on the still developing plans said. GM, facing a U.S. government-imp ... Continue reading
Reborn Fiat Confronts Past Littered With Breakdowns as It Prepares for Chrysler Alliance
May 11, 2009
MILAN May 10, 2009; Colleen Barry writing for the AP reported thatg in a perfect world, so the joke goes, the Germans are the mechanics, the Swiss are the timekeepers and the Italians are the lovers. With Fiat snapping up a 20 percent stake in Chrysler LLC and bidding for General Motors Corp.'s European car-making busi ... Continue reading
Chrysler LLC Launches New Global Corporate Advertising Campaign
May 7, 2009
-- Campaign debuts on network primetime television May 11 -- Tagline is 'We're building a new car company. Come see what we're building for you' -- Campaign reinforces that it's business as usual -- International markets, including Canada and Mexico, will also run advertising AUBURN HILLS, Mich., May 7 -- A little more ... Continue reading
Fiat's Marchionne says he will lead Chrysler
May 7, 2009
NEW YORK May 6, 2009; Reuters reporteds that Fiat SpA Chief Executive Officer Sergio Marchionne plans to take the top spot at Chrysler LLC after the automaker emerges from bankruptcy, he told Bloomberg in an interview on Wednesday. "Chrysler is on track to re-emerge from bankruptcy in 60 days," Marchionne said in the i ... Continue reading
Judge OKs First Step in Chrysler Sale
May 6, 2009
NEW YORK May 6 2009; Bree Fowler writing for the AP reported that the judge overseeing Chrysler LLC's Chapter 11 proceedings has ruled that the automaker can start taking steps toward selling the vast majority of its assets to Italy's Fiat Group SpA. The judge also said lawyers for a dissident group of lenders have unt ... Continue reading
Fiat Professional Confirms It Will Join Scrappage Scheme
May 6, 2009
Fiat Professional, the commercial vehicle arm of Fiat Group Automobiles SpA, has confirmed it will fully participate in the Government's scrappage scheme, announced recently in the Budget. ... Continue reading
May 5, 2009
AUBURN HILLS, Mich., May 5 -- Chrysler LLC announced that the U.S. Bankruptcy Court yesterday gave interim approval to Chrysler for $4.1 billion of Debtor-In-Possession (DIP) financing, funded by the U.S. Treasury and Export Development Canada, and the use of $400 million of cash collateral, enabling the company to mee ... Continue reading
Fiat's Marchionne : Opel Alliance Would Create 'Immense' Cost Savings
May 5, 2009
BERLIN May 5, 2009; The AP reported that a Fiat tie-up with General Motors Corp.'s Opel unit would allow "immense" cost savings, the Italian auto maker's boss was quoted Tuesday as saying, arguing the two companies would be a good fit. Fiat Group SpA is trying to build a global automaking powerhouse. Last week, it stru ... Continue reading
Fiat Chief Executive Sergio Marchionne's Vision
May 4, 2009
Milan May 4, 2009; Reuters reported that Fiat Chief Executive Sergio Marchionne is trying to put together an automotive empire that combines the Italian group's core car business with the European operations of General Motors. Including Fiat's planned takeover of U.S. car maker Chrysler , the combined group would be th ... Continue reading
Fiat Shaking Up European Car Industry
May 4, 2009
BERLIN/MILAN May 4, 2009; Madeline Chambers and Gilles Castonguay writing for Reuters reported that a radical overhaul of the car industry moved a step closer on Monday as Fiat's CEO prepared to pitch a bid for Opel to Germany's leaders as part of a planned takeover of General Motors' (GM - News) European assets. As de ... Continue reading
Chrysler: Reshuffle the Corporate Capital Structure?
May 4, 2009
Chrysler: Reshuffle the Corporate Capital Structure, I just caught up with the Chrysler story today. What I found out shocked me, for the implications could be mind boggling. Here are some key facts I've gathered that are relevant to what I'm about to say. If you think I got any of them wrong, correction is appreciated ... Continue reading
Fiat Confirms Talks for GM's Opel, To Create Single Company Including Chrysler
May 4, 2009
Fiat Group SpA confirmed Sunday that it is in talks to buy most of General Motors Corp.'s European operations, taking another step toward creating a global automotive powerhouse. Fiat also said it is evaluating the possible spinoff of its auto business to form the core of a new company. Fiat Group Automobiles includes ... Continue reading
Fiat Looking to Pickup GM Europe Units to Create New Super-Fiat Company
May 3, 2009
ROME - May 3, 2009: AP is reporting that Fiat is in talks with General Motors Europe to acquire most, if not all of GM's European brands. According to the AP story, "Fiat said in a statement Sunday it's evaluating the possible spinoff of its auto business to form the core of the new company." The current Fiat Automobil ... Continue reading
Chrysler Expected to Sell Assets to Fiat
May 2, 2009
Chrysler expected to sell assets to Fiat Group SpA, close 5 more plants by end of 2010 NEW YORK May 2, 2009Bree Fowler and Vinnee Tong writing for the AP reported that Chrysler LLC is expected to file a motion Saturday to sell substantially all of its assets to Italian automaker Fiat Group SpA, but the ailing automaker ... Continue reading
A New Panda For £4995 as Fiat Joins Scrappage Scheme
May 1, 2009
Fiat has confirmed that it intends to take part in the new scrappage scheme programme, announced by Chancellor Alastair Darling in last week's Budget. With £1000 put forward by the Treasury for motorists who scrap their old cars in exchange for new ones, matched or exceeded by the manufacturer, it means there has neve ... Continue reading
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