Webremix Articles

Hiring surges in January; jobless rate at 8.3 pct.

Fri, 03 Feb 2012 23:38:17 GMT

An auto worker assembles parts on the 2013 Dodge Dart at the Chrysler Plant in Belvidere, Ill., Thursday, Feb. 2, 2012. Sergio Marchionne, Chairman and CEO Chrysler Group, announced that Chrysler ...

Report: Clint Eastwood stepping in for Eminem in Chrysler Super Bowl ad?

Fri, 03 Feb 2012 16:29:00 GMT

Filed under: Marketing/Advertising, Chrysler, Celebrities

Last year, Chrysler made a big splash in the advertising world with its "Imported From Detroit" campaign, a marketing blitz that kicked off with a Super Bowl spot featuring rapper Eminem behind the wheel of a Chrysler 200 sedan . The campaign jumpstarted a national dialogue about Detroit, went on to win an Emmy, and the tagline has since become a cornerstone of Chrysler's marketing efforts. But according to The Wall Street Journal , the Auburn Hills automaker isn't looking to return to The Big Game with Marshall Mathers - it's going with veteran actor Clint Eastwood.

According to the WSJ, Eastwood will feature in an expansive two-minute long ad and the action will likely center on the actor "giving the country a pep talk." While seemingly every other automaker has already spilled the beans on their Super Bowl marketing efforts, the Pentastar is playing its hand close to the vest, with the WSJ unable to get Chrysler to comment on the story.

Click past the jump for a quick refresher on Chrysler's Super Bowl ad with Eminem from 2011 .

Continue reading Clint Eastwood stepping in for Eminem in Chrysler Super Bowl ad?

Clint Eastwood stepping in for Eminem in Chrysler Super Bowl ad? originally appeared on Autoblog on Fri, 03 Feb 2012 11:29:00 EST. Please see our terms for use of feeds.

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The Other Super Bowl Contest: Best Ad

Fri, 03 Feb 2012 04:56:33 GMT

Elton John squares off against Seinfeld. Chrysler goes long. Bring your smartphone.

Report: Chrysler employees to get first profit-share payouts since 2005

Thu, 02 Feb 2012 20:30:00 GMT

Filed under: Chrysler, Dodge, Jeep, Earnings/Financials, Fiat

Chrysler employees received some good news this week. The automaker announced it would issue profit-sharing checks worth $1,500 to each of its hourly workers for the first time since 2005. The company posted a $183 million profit for 2011, marking the first time the company has avoided a loss in six years, according to The Detroit Free Press . The earnings were due largely to a host of more compelling vehicles, including the Jeep Grand Cherokee , Dodge Durango , Chrysler 200 and 300 . Each of those vehicles command a higher price tag than their less-refined predecessors.

On average, buyers have been willing to hand over $3,200 more for their Chrysler vehicles than they did just one year prior. Company CEO Sergio Marchionne said the profit-sharing checks were a reward that the company's workers had earned.

Interestingly enough, parent company Fiat isn't enjoying the same success back home. According to the report, without the earnings from the Italian automaker's stake in Chrysler, Fiat would have reported a $265 million loss in 2011. In a strange turn of fate, Chrysler has begun supporting Fiat. With Italy and the rest of Europe in the throws of a debt crisis, the automaker doesn't look to have a better 2012, either.

Chrysler employees to get first profit-share payouts since 2005 originally appeared on Autoblog on Thu, 02 Feb 2012 15:30:00 EST. Please see our terms for use of feeds.

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Chrysler profit triggers profit-sharing checks

Thu, 02 Feb 2012 18:42:09 GMT

Chrysler workers have a variety of reasons to be pleased about the maker’s improving fortunes. They’re not only seeing thousands of jobs added but receiving their first profit-sharing ...

Eminem facing $9 million lawsuit from a homeless man

Thu, 02 Feb 2012 15:43:44 GMT

Rapper is facing the suit over a commercial he filmed for Chrysler

Eminem sued over commercial

Thu, 02 Feb 2012 11:12:01 GMT

Rapper Eminem is facing a lawsuit from a homeless man who alleges the star stole the idea for his Chrysler commercial.

Eminem sued over commercial

Thu, 02 Feb 2012 09:08:10 GMT

Rapper Eminem is facing a lawsuit from a homeless man who alleges the star stole the idea for his Chrysler commercial.

Chrysler, Ford sales up in January

Thu, 02 Feb 2012 07:20:03 GMT

US auto sales for the Big Three American automakers were mixed in January as General Motors (GM) sales dropped 6 percent since January last year while Chrysler posted a strong gain of 44 percent over

Official: Chrysler posts $183M profit for 2011

Wed, 01 Feb 2012 23:29:00 GMT

Filed under: Chrysler, Earnings/Financials

Good news has been in abundant supply for the domestic automakers the last twelve months, and nowhere is that more evident than in the headline to this press release: "Chrysler Group Reports Full Year 2011 Net Income of $183 Million." Now, $183 million isn't exactly a king's ransom in the auto industry (or elsewhere - Apple made $25.92 billion last year). But if Chrysler is making money again for the first time since emerging from bankruptcy, well, perhaps the U.S. auto industry has finally recovered from 2009.

The smallest of the Big Three automakers reported sales of 1,369,114 vehicles in 2011, up 26 percent from 2010. Chrysler led all automakers in percentage sales gains last year , and finished fourth in U.S. sales, behind General Motors , Ford and Toyota . To read the full press release, click past the jump.

Continue reading Chrysler posts $183M profit for 2011

Chrysler posts $183M profit for 2011 originally appeared on Autoblog on Wed, 01 Feb 2012 18:29:00 EST. Please see our terms for use of feeds.

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US Auto Sales Rise In January, Led By Chrysler, VW

Wed, 01 Feb 2012 22:49:27 GMT

US auto sales rise in January, led by Chrysler, VW

Exclusive: Handwritten, $9 Million Lawsuit Filed Against Em Over Chrysler Ad

Wed, 01 Feb 2012 22:30:33 GMT

NEW YORK MAN FILES $9 MILLION HANDWRITTEN LAWSUIT AGAINST EM OVER "BORN OF FIRE" COMMERCIAL!

Car Sales Off to a Strong Start in 2012

Wed, 01 Feb 2012 20:53:13 GMT

The Chrysler and Ford were among several auto companies that reported healthy increases for January, but General Motors posted a 6 percent decrease from a year ago.

Chrysler swings to full-year profit as sales surge 44% in January

Wed, 01 Feb 2012 17:49:58 GMT

AUBURN HILLS, Mich. -- Chrysler said Wednesday that its US auto sales rose 44 percent last month as the manufacturer reported its strongest January in four years.The automaker, which is now in an ...

Chrysler Posts $225 Million Profit in Q4 2011, First Full-Year Profit In Six Years

Wed, 01 Feb 2012 17:37:39 GMT

Chrysler announced this morning that its fourth-quarter earnings in 2011 helped the automaker post a $183 million net profit for the 2011 fiscal year.

Ford, Chrysler sales rise but GM's drop

Wed, 01 Feb 2012 17:04:16 GMT

By Msnbc.com staff and wire It looks like Chrysler's U.S. auto sales began the year the way they ended 2011: on a strong note. Ford sales rose, too. GM, not so much.Chrysler kicked off monthly ...

Fiat Forecasts Profit Surge on Chrysler Strength

Wed, 01 Feb 2012 17:00:03 GMT

Fiat, the Italian carmaker that controls Chrysler Group, forecast 2012 profit will surge as much as 88 percent as the American carmaker's earnings rise

Chrysler Reports First Annual Profit In Years

Wed, 01 Feb 2012 12:49:00 GMT

The profit for Chrysler is a sign the turnaround under Italian car company Fiat is working. Earnings were driven by higher sales of Jeeps, Dodge Durangos and other redesigned models.

Wheel Turns: Chrysler May Be Fiat Savior

Wed, 01 Feb 2012 03:17:25 GMT

Red-hot Chrysler, the runt of Detroit's litter, may provide the cash flow to revive its foreign parent's fortunes less than three years after exiting from bankruptcy.

Viper! 2013 SRT Viper Teaser Photo Unveiled on DriveSRT Facebook Page

Tue, 31 Jan 2012 06:15:58 GMT

If you've been waiting impatiently for the return of Chrysler 's iconic Viper, it's time to start getting excited: Chrysler's SRT brand has released the first official teaser photo of the upcoming 2013 SRT Viper online ahead of t he new snake's debut at the 2012 New York Auto Show .

Chrysler Expect First Annual Profitable Since 1997

Mon, 30 Jan 2012 15:37:28 GMT

After bankruptcy and a government bailout, the company is turning itself around.

One Millionth Chrysler Pentastar V-6 Rolls Off The Line

Mon, 30 Jan 2012 15:37:27 GMT

Chrysler produced its 1 millionth Pentastar V-6 engine Friday at its assembly plant in Trenton, Mich.

Official: Just 18 months into production, Chrysler builds millionth Pentastar V6

Mon, 30 Jan 2012 13:30:00 GMT

Filed under: Plants/Manufacturing, Chrysler

The 2010 Jeep Grand Cherokee was the first home for Chrysler's Pentastar V6 engine . As you may recall, the powerplant was codenamed "Phoenix," and it was charged with replacing seven other engines in 11 models in the Chrysler and Dodge lineups. Along with it being a well-regarded piece of engineering, its sheer ubiquity goes a long way toward explaining how in just 18 months the Trenton, Michigan plant that produces it has cranked out a million of them.

The 3.6-liter V6 is rated from 283 horsepower up to 305 hp, and can be found under the hood of front-, rear- and four-wheel drive vehicles in varying transmissions. Another signal of how much Chrysler thinks of the Pentastar: after being finagled into the 2012 Jeep Wrangler , rumors last year suggested a twin-turbo version of it could go into the Maserati GranTurismo .

Follow the jump for Chrysler's press release on the seven-figure milestone of a lump voted one of Ward's "10 Best Engines."

Continue reading Just 18 months into production, Chrysler builds millionth Pentastar V6

Just 18 months into production, Chrysler builds millionth Pentastar V6 originally appeared on Autoblog on Mon, 30 Jan 2012 08:30:00 EST. Please see our terms for use of feeds.

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'Driven by Barack': Chrysler saloon for sale on eBay (one careful owner, now leader of the free world, opening bid: $1m)

Fri, 27 Jan 2012 10:13:55 GMT

When he hits the road these days it is in an armoured car nicknamed 'The Beast' surrounded by secret service agents. But before he became president, Barack Obama made do with a far humbler car, namely a grey Chrysler sedan.

Report: Memo says Bush administration almost pushed GM and Chrysler into earlier bankruptcy

Tue, 24 Jan 2012 15:28:00 GMT

Filed under: Government/Legal, Chrysler, GM, Earnings/Financials

2008 was one crazy, almost surreal year. It was the year when the economy took a nosedive, and the U.S. auto industry nearly ceased to exist. One of the last major decisions former President Bush made before he left office was to give Chrysler and General Motors a combined $17.4 billion to keep their doors open.

That money held over the two automakers for a few months, but The Detroit News reports that the Bush administration almost took a different tack. The New Yorker published a 57-page economic memo that was written by economist Larry Summers to President Elect Obama. The memo claims that President Bush was noodling an earlier bankruptcy for the automakers, backed by up to $100 billion in government financing.

By instead forwarding GM and Chrysler a bridge loan, Bush (pictured here with former Chrysler CEO Bob Nardelli) effectively prolonged the inevitable and pushed the tough decision on to the next administration. But that could have been the best possible action to take - Summers was reportedly of the opinion that pushing the automakers through bankruptcy too early could have severely damaged the entire U.S. auto industry - not just at Chrysler and GM.

In the end, Chrysler entered bankruptcy in April, followed by GM in June. Chrysler no longer owes the federal government any money, though Uncle Sam still owns 26.5 percent of The General. As a result of the Bush administration's choices, the Obama administration is the one that gets the blame and credit (depending on your political viewpoint) for shepherding the two automakers through bankruptcy.

Memo says Bush administration almost pushed GM and Chrysler into earlier bankruptcy originally appeared on Autoblog on Tue, 24 Jan 2012 10:28:00 EST. Please see our terms for use of feeds.

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Report: Ford to pay bonuses and raises, GM and Chrysler decline to do same

Mon, 23 Jan 2012 13:59:00 GMT

Filed under: Chrysler, Ford, Earnings/Financials, Canada

Ford has announced that it will give both bonuses and merit-based raises to the company's salaried workers in the United States and Canada for the first time since 2008, according to Reuters . On average, the manufacturer will offer a 2.7 percent salary increase based on individual performance. The company stopped offering the bonuses after the financial crisis of 2009 sent automotive sales into a plunge. Ford paid neither bonuses nor merit raises that year, but offered merit raises in 2010. In 2011, the company's workers received bonuses only.

Of course, this decision has sent all eyes toward General Motors and Chrysler and their plans for their own workers. According to The Detroit News , both GM and Chrysler have said raises and bonuses will be determined by their own performance, not their rival's actions. GM has announced the company will make a final decision after it analyzes its financial results for 2011. Chrysler, meanwhile, intends to announce its fourth-quarter 2011 results on February 1, after which it will determine whether its workers will be eligible for their yearly awards.

Ford to pay bonuses and raises, GM and Chrysler decline to do same originally appeared on Autoblog on Mon, 23 Jan 2012 08:59:00 EST. Please see our terms for use of feeds.

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Chrysler's Global Melange Yields True Luxury

Fri, 20 Jan 2012 21:48:34 GMT

In the new Chrysler 300C Luxury Series, a hunk of America, a dash of Italy and a lingering hint of Germany combine quite nicely, says Dan Neil—and no matter how much you load it up, the price won't top $50,000.

Chrysler's Francois Is Convinced `Detroit Is Back'

Tue, 17 Jan 2012 16:34:18 GMT

Jan. 17 (Bloomberg) -- Olivier Francois, marketing chief for Chrysler Group LLC and head of the Fiat brand, talks about the outlook for Chrysler and the City of Detroit. Matt Miller reports on Bloomberg Television's "Bottom Line."

Dodge Dart get a second shot

Fri, 13 Jan 2012 21:42:28 GMT

In 2005, Chrysler Group's head of design, Ralph Gilles, called on the company to reinvent its concept of what it could do with auto interiors.

AUTO INDUSTRY: Chrysler to bank $2 billion as sales surge, CEO says

Fri, 13 Jan 2012 15:16:53 GMT

Chrysler, the smallest of the Detroit "Big Three" carmakers, has made an impressive return to form since it filed for bankruptcy in 2009. CEO Sergio Marchionne says it will rake in $2 billion from car and truck sales in 2011. However it still has to complete its merger with Fiat, run by Frenchman Olivier François.

Report: Chrysler to axe Dodge Avenger, focus on 200?

Thu, 12 Jan 2012 20:58:00 GMT

Filed under: Sedan, Plants/Manufacturing, Chrysler, Dodge

Automotive News reports Chrysler may finally send the Dodge Avenger out to pasture. Reuters spoke with Reid Bigland, head of the Dodge brand, who said Chrysler would look to focus on a single mid-size car in the next three years or so, and that focus would likely alight on the recently refreshed Chrysler 200 . Both the Avenger and the 200 enjoyed a sales boom last year thanks to improved drivetrain options and new interiors, though the two still lag far behind their competition. Removing one of the twins from the picture would allow Chrysler to save money on both development and marketing while eliminating the issue of having competing models on the same dealer lot.

Reports have previously suggested Chrysler will work to slim duplicate models across its brands by eliminating the Dodge Grand Caravan in favor of a Fiat-based crossover. The death of the Avenger is wise step in that direction. Last year, the vehicle sold 63,023 units, and while that figure marks a 26 percent improvement over the 2010 numbers, it's a far cry from the 308,510 Toyota Camry units sold last year.

Chrysler to axe Dodge Avenger, focus on 200? originally appeared on Autoblog on Thu, 12 Jan 2012 15:58:00 EST. Please see our terms for use of feeds.

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Fiat and Chrysler boss warns European leaders to tackle debt crisis

Wed, 11 Jan 2012 13:43:55 GMT

DETROIT - Fiat and Chrysler chief executive Sergio Marchionne has said the European debt crisis was likely to flatten his business for the next two years and warned Europe's leaders that they are "pla

2012 Detroit: Designer POV - " Chrysler Design Chief Ralph Gilles On The Acura NSX Concept

Wed, 11 Jan 2012 04:25:30 GMT

Just after the Acura press conference, I ran into Chrysler hot shot Ralph Gilles giving the NSX concept the evil eye.

Fiat-Chrysler chief denies report of PSA tie-up

Wed, 11 Jan 2012 00:00:51 GMT

Chrysler-Fiat chief Sergio Marchionne on Tuesday denied a report that he is mulling an alliance with France's PSA Peugeot-Citroen."I have not discussed a thing" with PSA...

Goodbye to a Minivan?

Tue, 10 Jan 2012 23:24:23 GMT

Jonathan Welsh answers a reader's question on speculation about Chrysler no longer selling minivans.

Detroit Auto Show Hints at US Auto Industry Recovery

Tue, 10 Jan 2012 20:44:20 GMT

This year's show comes amid stronger sales for Ford, Chrysler, General Motors

Boss of Chrysler and Fiat tells Europe to 'get serious' on solving debt crisis

Tue, 10 Jan 2012 18:40:22 GMT

At the Detriot auto show, Chrysler and Fiat boss Sergio Marchionne said Fiat may lose 500,000 vehicle sales as results of European debt crisis. Photograph: Geoff Robins/AFP/Getty ...

VIDEO: US car giants see sales rise

Tue, 10 Jan 2012 09:24:36 GMT

The Detroit manufacturers saw sales jump by 10% last year. Chrysler, the smallest of the big three was considered particularly doomed in 2009 when it filed for bankruptcy

Detroit: Mopar gives Chrysler 200 a kick in the ass with Super S kit

Tue, 10 Jan 2012 00:29:00 GMT

Filed under: Aftermarket, Detroit Auto Show, Sedan, Chrysler

The Chrysler 200 is a fine car, but not exactly the first we'd pick to get our hearts racing. At least not in stock form. But that's where Mopar comes in.

Chrysler's long-standing aftermarket parts division rolled on down to Cobo Hall this year with this modified 200. Called the 200 Super S , it packs a coil-over suspension upgrade and improved breathing apparati, as well as a host of visual enhancements ranging from a mesh grille to faux diffuser, and from 18-inch alloys to spoilers and side sills.

The result is a noticeably more aggressive-looking take on an otherwise rather conventional compact family sedan, and if you like what you see from our live shots from the show floor here at the Detroit Auto Show , you'll soon be able to crack open the latest Mopar catalog and order the bits and pieces you like to bolt on to your very own 200 S.

Continue reading Mopar gives Chrysler 200 a kick in the ass with Super S kit

Mopar gives Chrysler 200 a kick in the ass with Super S kit originally appeared on Autoblog on Mon, 09 Jan 2012 19:29:00 EST. Please see our terms for use of feeds.

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Dodge Dart Gets New Life in Biggest Test for Fiat-Chrysler: Cars

Mon, 09 Jan 2012 22:43:56 GMT

The Dodge Dart was a hit in the 1960s, known for its tail fins and low price. Now Chrysler Group LLC, using technology from its savior Fiat SpA, is bringing back the car to carry the company into the future.

Detroit: Chrysler 700C concept minivan quietly rolls into Detroit

Mon, 09 Jan 2012 22:23:00 GMT

Filed under: Concept Cars, Detroit Auto Show, Minivan/Van, Chrysler

The crowd here at the Detroit Auto Show may be oohing and aahing over the all-new 2013 Dodge Dart , but something else caught our eye at the Chrysler display here inside Cobo Hall. The swoopy minivan you see above is the Chrysler 700C Concept, a vehicle that we hadn't heard a peep about until we spent a few minutes talking with Rick Deneau from Chrysler Brand Communications.

Deneau told us that, in essence, the 700C is simply a design study of what the future of the Chrysler minivan could look like, and that its presence here in Detroit is simply to gauge interest from not only the media, but consumers and the general public. It's a three-row vehicle, styled here at Chrysler's headquarters in Auburn Hills, Michigan, and truth be told, that's really all there is to say.

It's a futuristic look for a minivan, and significantly more swoopy than the decidedly boxy Chrysler Town & Country and Dodge Grand Caravan twins that currently roam the streets. The backward-sloping sheetmetal that disguises the B-pillar is interesting, as are the rear taillamps that extend upward onto the rear wheel well arches. Even so, many of the Autoblog staffers have mentioned that, while forward-thinking, this concept looks like it could have been designed ages ago. We can even see a bit of last-generation Nissan Quest in the rear three-quarter and side profile, too.

Check out the 700C Concept for yourself in our attached high-res image gallery, and give us your take on the minivan design study in the comments.

Chrysler 700C concept minivan quietly rolls into Detroit originally appeared on Autoblog on Mon, 09 Jan 2012 17:23:00 EST. Please see our terms for use of feeds.

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Dodge Dart joins compact car race

Mon, 09 Jan 2012 19:18:55 GMT

Chrysler introduced the new Dodge Dart at the Detroit auto show Monday.The reinvented compact is nothing like its predecessor from the 1960s and '70s. But Chrysler is counting on the Dart, and ...

From the Floor of the 2012 Detroit Auto Show

Mon, 09 Jan 2012 17:56:07 GMT

Mopar showed off the Chrysler 200 Super S as a demonstration of what can be done when ordering from the company's vast parts catalog.

Marchionne Mulls Succession Plans

Mon, 09 Jan 2012 08:49:25 GMT

Sergio Marchionne plans to remain at the helm of Chrysler and Fiat until at least 2015, but maybe not much longer than that.

Dodge Dart to Join Compact Car Race

Mon, 09 Jan 2012 08:22:31 GMT

Aiming for small-car hit, Chrysler launches the new Dodge Dart based on an Alfa Romeo

2012 Dodge Charger To Feature Beats By Dre Audio System

Fri, 06 Jan 2012 22:33:06 GMT

(AllHipHop News) Earlier today (January 6), it was announced that the new 2012 Dodge Charger which is set for release in the first quarter of this year WILL include an exclusive Beats By Dre audio system. This marks the second time Dr. Dre has collaborated with Chrysler – the first being last year’s Chrysler 300…

Chrysler hiring 1,100 new workers to build diesel Jeep Grand Cherokee

Fri, 06 Jan 2012 18:01:00 GMT

Filed under: Performance, Plants/Manufacturing, Crossover, Chrysler, Dodge, Jeep, Diesel

Last April, we received word straight from CEO Sergio Marchionne's mouth that Fiat's 3.0L V6 turbo-diesel engine would find its way to America under the hood of a Jeep Grand Cherokee by the end of 2013. That a diesel-powered Grand Cherokee would return to Jeep's lineup was great news for fans of the last version, but workers in the city of Detroit should be even more excited, as Chrysler has just announced it will add a third shift and hire 1,100 new workers at its Jefferson North Assembly Plant to help build it. Jefferson North currently employs 2,890 people and is responsible for production of the Grand Cherokee and Dodge Durango .

Throw another 150 new workers on the pile too for Chrysler's Connor Avenue Assembly Plant, also located within the confines of Detroit proper. Last month Chrysler announced that it would reopen the original home of Viper assembly to build the new snake , and its needs 150 workers to do it. Today's announcement just reaffirms those plans and brings the total number of Chrysler's new Detroit hires this year to 1,250.

Continue reading Chrysler hiring 1,100 new workers to build diesel Jeep Grand Cherokee

Chrysler hiring 1,100 new workers to build diesel Jeep Grand Cherokee originally appeared on Autoblog on Fri, 06 Jan 2012 13:01:00 EST. Please see our terms for use of feeds.

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Chrysler Adds 1,100 Jobs at Detroit Plant

Fri, 06 Jan 2012 02:48:22 GMT

will add a third shift of 1,100 jobs at a Detroit plant where it will begin producing a diesel Jeep Grand Cherokee SUV, the company said on ...

Official: Fiat increases Chrysler stake to 58.5%

Thu, 05 Jan 2012 21:29:00 GMT

Filed under: Government/Legal, Chrysler, Earnings/Financials, UAW/Unions

How important is the forthcoming 2013 Dodge Dart to the future of Chrysler ? Well, it allowed Fiat to boost its stake in Chrysler for the fifth time in the past year today, adding five percent to bring Fiat's total ownership to 58.5 percent.

That's because the new Dodge sedan scored a combined 40 miles per gallon in CAFE fuel economy testing, triggering the increase in ownership under the operating agreement reached following the Chrysler bankruptcy proceedings. (Note that the 40 mpg number is unadjusted, meaning that the actual EPA combined fuel economy, the one published on the window sticker, will be lower.) Chrysler sent the United States Treasury a letter stating that it was "irrevocably committed to begin assembly" of the Dart at its Belvidere plant in Illinois . Chrysler will take the wraps off the Dart on January 9 at the Detroit Auto Show .

Fiat's stake in Chrysler has grown considerably since it received its initial 20-percent share in the immediate aftermath of the automaker's bankruptcy . The Italian automaker has now met all the "performance events" of its agreement with the Treasury, and could buy out the United Auto Workers healthcare trust that owns the remaining 41.5 percent of the company, according to a report in Automotive News . However, that report indicates that Fiat's financial situation may not be solid enough to do so - at least not right away.

To read Chrysler's full press release, click through to the jump.

Continue reading Fiat increases Chrysler stake to 58.5%

Fiat increases Chrysler stake to 58.5% originally appeared on Autoblog on Thu, 05 Jan 2012 16:29:00 EST. Please see our terms for use of feeds.

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Fiat Boosts Chrysler Ownership

Thu, 05 Jan 2012 11:04:00 GMT

Fiat increased its stake in Chrysler to 58.5% from 53.5% after fulfilling the last of its U.S. federally mandated requirements calling for it to help Chrysler produce a car in America that gets 40 mpg.