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Fiat officially owns majority of Chrysler

by Bill Cawthon on

In an statement from Turin today, Fiat SpA announced it has completed the purchase of the U.S Treasury’s 6% interest in Chrysler Group LLC for $500 million, and of the Canadian government’s 1.5% stake for $125 million. With these these purchases, Fiat SpA now holds a majority interest of 53.5% of Chrysler.

With the final milestone to be reached later this year when Chrysler demonstrates a U.S.-made, 40-mpg car, Fiat’s stake will rise to 58.5 percent. (The 40 mpg specified appears to be the EPA combined rating used for CAFE calculations, but the car is likely to be rated at 40 mpg highway as well.)

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, 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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