Hoovey689

iTrader: (16)

Marchionne gunning to unify Chrysler and Fiat by 2015

Sergio Marchionne, CEO of both Chrysler and Fiat, has stated that the planned unification of both companies will have to wait a little longer as the Italian automaker grapples with the European financial crisis. Marchionne has previously stated that the goal was to achieve unification as early as 2014, but that has temporarily been put on the back burner while Fiat aims to strengthen its finances.

In a Reuters report, Marchionne said, "The objective has always been to try and bring unification by 2014 or 2015... I'd still like to see that done." Marchionne went on to say that Fiat would not have the capital to make that move as early as 2014, unless "something extraordinary happens and we find liquidity through other means." According to the report, Marchionne's top priority is fixing its European situation.

This is all in relation to Fiat's plan to purchase the remaining 41.5 percent stake in Chrysler currently held by the United Auto Workers healthcare trust. The trust was created as a move to unburden Chrysler from retired workers' healthcare costs.

Fiat tried to purchase 3.3 percent of the American automaker this July for $139.7 million. The healthcare trust claimed that figure was not enough and refused to sell the portion, resulting in a lawsuit brought by Fiat against the healthcare trust. No update was given on the lawsuit, though Fiat stated that it plans on making another 3.3 percent purchase in January.

http://www.autoblog.com/2012/11/01/m...-fiat-by-2015/

Hoovey689

iTrader: (16)

Marchionne plans to kill off Lancia

Lancia is dead. Long live Lancia.

The European financial crisis has claimed another victim. This time it is not a racing program or production facility, but an entire car brand. Fiat and Chrysler CEO Sergio Marchionne has announced the shuttering of the storied Italian make as part of a "larger strategic correction" to right Fiat's current financial woes. That kind of dashes any plans for a Stratos comeback.

According to German site Automobilwoche, the move is part of a larger effort that would see Fiat spread product offerings over more vehicle segments, including the premium market. Still, Fiat will continue to present the Panda as the "pillar of the brand, and will be rebadged as a Jeep in the near future.

With news that Fiat could post a 700-million-euro loss for 2012, the killing–off of Lancia starts to come into context. According to Marchionne, the company may not break even again until 2015 or 2016. The hope of shuttering the Lancia brand is to further consolidate underpinnings and cut costs by platform sharing and rebadging of Fiat, Jeep, and Chrysler products, hopefully pulling the Italian automaker out of the red.

http://www.autoblog.com/2012/11/02/m...ll-off-lancia/

Hoovey689

iTrader: (16)

Lancia to live on with models built in America

Gallery:
http://www.autoblog.com/photos/lanci...photo-3878878/

Motor Trend reports that Lancia isn't headed for the scrap heap after all. Chris Brown, a spokesperson for Chrysler, told MT the automaker will live on and continue to manufacture its Ypsilon hatchback in Italy. The remainder of the brand's vehicles will be built in America by Chrysler. What's more, Fiat CEO Sergio Marchionne has said future Lancia models will be co-developed with Chrysler. That's a big shift from what we heard last week. As you may recall, the German site Automobilwoche reported the sun was poised to set on the Lancia brand for good, due in part to economic woes in Europe.

Under the rumored plan, Fiat would then push Maserati farther downmarket to help fill the gap. As it turns out, Marchionne was simply talking about further platform sharing between Fiat and its profitable American brand. That means we can likely expect to see more Lancia-badged Chryslers prowling the streets of Europe very soon.

http://www.autoblog.com/2012/11/04/l...lt-in-america/

Hoovey689

iTrader: (16)

hah 300 sounds better than Thema