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Fiat’s Chrysler stake rises to 58.5 percent; Dart certified for 40mpg

by Bill Cawthon on

Chrysler announced early this morning that Fiat S.p.A.’s ownership interest has increased to 58.5 percent. The company achieved the last of three performance-related milestones in late December, when the new Dodge Dart was certified as achieving a combined fuel efficiency rating of 40 miles per gallon.

As required in its June 10, 2009 Operating Agreement with the U.S. government, Chrysler Group has issued a letter to the Treasury Department is irrevocably committed to begin assembly of a vehicle with an unadjusted combined fuel economy of at least 40 mpg in commercial quantities in a production facility located in the United States. When the letter was issued, the five-percent increase in Fiat’s ownership interest occurred automatically.

The ownership interests of Chrysler Group’s members are now: Fiat: 58.5 percent; UAW VEBA: 41.5 percent.

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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