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.
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 [...]
Allpar’s informal sources have agreed that there are plans for a new Dodge Viper ACR, debuting for the 2016 model year, possibly replacing the current TA (Time Attack) model. Artist suzq044 provided the following rendering, which uses SRT’s trademark black wheels and a Dodge concept-car semi-rendering. The Viper ACR may have a mild power boost, but will be mainly a suspension and/or airflow upgrade, to increase track [...]
Keeping a years-long tradition, Chrysler today released a number of “teaser images” for concepts to be revealed at the SEMA aftermarket show in Las Vegas, Nevada. Each brand is covered, though Chrysler has but one car — the 200S. That can be explained by the status of the brand’s three cars: the 2015 300 has yet to be launched, and the [...]
The 2017 Jeep Wrangler may leave its historic steel body-on-frame construction and Toledo plant behind, according to Chrysler CEO Sergio Marchionne, as quoted by Automotive News’ Larry Vellequette. The current Wrangler has good mileage for rugged four wheel drive vehicles, but poor economy overall, at around 17/21 mpg (depending on model and transmission). Mr. Marchionne said the Wrangler will need to lose weight [...]
Dodge has released pricing for the full Charger lineup, starting with the V6/eight-speed Dodge Charger SE at $28,990 (all prices include $995 destination for the “49 states”). Charger was thoroughly renovated for the 2015 model year, with a new look, suspension and electronics revisions, a standard eight-speed automatic for ever engine, and other upgrades. The top Charger, the SRT Hellcat, has [...]