October 27, 2009
From Motor Authority:
“The Fiat-Chrysler partnership has been brewing since well before the economic meltdown and federal loan bonanza of late 2008, but it’s still taking shape as the automakers find ways to work to their mutual benefit. The combined companies’ new CEO Sergio Marchionne is set to reveal the future plans for both Fiat and Chrysler in just a week’s time but we already have much of the details on hand.
According to people briefed on the plans, Alfa Romeo is set to return as a volume player in 2012. Fiat will be here too, although the only model planned is the 500 minicar, which should in early 2011…
Don’t feel too bad Fiat isn’t coming here in full force. Chrysler will introduce several new models that rely on Fiat platforms and technology. The first of these will be a new mid-sized sedan from Chrysler based on Fiat’s C-Evo platform, followed by new hatchback and a compact Jeep. There will also be redesigned versions of the Jeep Grand Cherokee and Chrysler 300 arriving as early as next year.
Several models will be dropped from Chrysler’s U.S. lineup as well. These will include a number of Dodge models, such as the Caliber, Nitro, Avenger, and several Jeep models, too, such as the Commander, Compass, and Patriot. Other vehicles getting the axe include Chrysler’s PT Cruiser and Sebring.”
Full article here.
April 15, 2009
Just in from the Associated Press:
MILAN (AP) — Automaker Fiat Group SpA will walk away from a deal to take a 20-percent stake in Chrysler LLC if the U.S. automaker’s unions don’t agree to major cost cuts, Fiat CEO Sergio Marchionne said in an interview published Wednesday.
Fiat and Chrysler are up against an April 30 deadline for Fiat to take a stake in the failing U.S. automaker in exchange for small car technology, but Chrysler first needs concessions from creditors and unions to ink the Fiat deal. If the Fiat alliance isn’t finalized by then, the U.S. government has threatened not to provide any more aid and let Chrysler be sold off in pieces.
“Absolutely we are prepared to walk. There is no doubt in my mind,” he said. “We cannot commit to this organization unless we see light at the end of the tunnel,” Fiat CEO Sergio Marchionne said in an interview published in the Toronto Globe and Mail.
A Fiat spokesman confirmed Marchionne’s statements. Marchionne was attending a shareholders meeting of the Swiss bank UBS in Zurich on Wednesday.
Marchionne said there is a 50 percent chance the deal will fail because of lack of progress in labor negotiations in both the United States and Canada.
Read the full article here.