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Press: Chrysler can make it without Fiat

by Bill Cawthon on

Chrysler Vice Chairman Jim Press says the company can survive with or without Fiat and intends to present two alternative viability plans to the federal government on February 17.

Company executives did say the alliance is the preferred route and added that discussions with other potential partners have been suspended.

The government has to approve a Chrysler plan in order for the car company to receive the remaining $3 billion from its original request for $7 billion in loans. Press commented “we don’t have to have a partner or Fiat to gain the $3 billion.”

The proposed Chrysler-Fiat alliance has received a generally positive response from the investment community as the best option for survival as it provides much-needed new product that Chrysler may not have the resources to develop on its own.

Bill Cawthon grew up in the auto industry in the 1950s. His Dad worked for Chrysler and Bill spent a number of Saturdays down on the plant floor at Dodge Main in Hamtramck. Bill is also the U.S. market correspondent for just-auto.com, a British auto industry publication, and a member of the Texas Auto Writers Association, which has named the Jeep Grand Cherokee the “SUV of Texas” several times and named the Ram 1500 as the “Truck of Texas” two years running.

Bill has owned five Plymouths (including the only 1962 “Texan”), one Dodge and one Chrysler and is still trying to figure out how to justify a Wrangler. He also has owned at least one of every 1:87 scale model of a Chrysler product. You can reach him directly at (206) 888-7324 or by using the form.


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