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.
It has been years since Allpar first reported on the future launch of a new Jeep Wagoneer, and the dropping of the Dodge Caravan. With Wagoneer on the books, Chrysler planners may have had mixed feelings about the sudden success of the Dodge Durango. They wanted to drop the Durango for a more-profitable Wagoneer (essentially a Durango with the Grand Cherokee suspension design [...]
Months after unconfirmed reports made it to Allpar’s pages, the power of Automotive News, in the person of reporter Larry Vellequette, pried a key fact from Chrysler executives — that they cast and build “Ferrari” engines for Maserati. As our sister site pentastars.com reported, the engines are actually cast in Kokomo, and machined in the Trenton Engine plant, using a mixture of [...]
Alfa Romeo will launch the second new car in its attempted comeback next year, on the brand’s 105th anniversary. Anonima Lombarda Fabbrica Automobili (roughly, Lombarda car making company) — or ALFA — was born on June 24, 1910. Their next car will be unveiled on June 24, 2015. While Alfa Romeo’s leader, Harald Wester, has said that the company is creating all [...]
The Challenger Hellcat is a hot image car for Dodge, and the brand’s leader has already said he wants to get as many out to the public as possible, suggesting to dealers that they not tack on $10,000 (or higher) surcharges as they did to hot cars in the past — from Vipers to PT Cruisers. While his calls may [...]
The 2015 Chrysler 300C has been inadvertently revealed by Chrysler itself, in an optional image for its navigation systems. As Allpar sources predicted, the car has dropped the chrome underneath the headlamps and moved the Chrysler wings to the top of the grille, but otherwise is rather similar to the current model. The grille has grown to be Audi-oversized in this [...]