by David Zatz • Posted on March 6th, 2013
In two venues, Chrysler and Fiat Auto CEO Sergio Marchionne repeated his desire to have Fiat and Chrysler joined as a single company, through a flat buyout of the retiree health care trust fund (VEBA)’s stake in the company. Earlier he had said that there was a 50-50 chance of an IPO, which would let the VEBA use the markets to set a price on their shares (at the cost of substantial attorney and advisor fees), but that he would prefer an outright buyout. Even if there is an IPO, Fiat intends to buy as much of Chrysler as it can, making Chrysler stock a good bet for speculators.
Currently, the VEBA owns 41.5% of Chrysler, but it needs cash to meet its continuing obligations to retirees. Today, from Geneva, Marchionne said that he had been in discussions with a number of bank “CEOs and chairmen who want to help” to finance a buyout of the VEBA’s share.
Which path a deal will take is, according to Marchionne, not likely to be clear until the third quarter of this year.
Chrysler Group has announced it will recall an estimated 29,500 2014 and 2015 Fiat 500L vehicles shipped in the U.S. and Canada to replace their knee airbags. Of the total, an estimated 25,500 are in the U.S. with the other 4,000 in Canada.
Based on U.S. sales reported through the end of June, the recall appears to cover all of the 500Ls sold or shipped since the model went on the market....
Robert C. Evans wrote, “I caught these right outside my office this morning. It appears to be an updated 2015 Chrysler 300, with a much larger front grill than the current generation. It seems it is almost returning to the original 300 grill and squared off front end. You will also see integrated exhaust in the rear much like the 2015 Chrysler 200.”
Most of the sheet metal should be similar to the current version, as the 2015 will be a relatively minor refresh — except for the use of eight-speed automatics across the board and UConnect upgrades....
If you can’t afford $60,000 or more for the real thing, or the insurance surcharges for driving a 707 horsepower car (even if you promise to use the 500-hp black fob), Dodge will help out by providing a Hemi Hellcat ring-tone for your phone.
The ringtone can be heard and downloaded from www.drivesrt.com/hellcatringtone.
2015 Challenger SRT: Hellcat and 392
2015 Dodge Challenger Hellcat at the track
HellCat: supercharged Hemi engines...