Italian automaker Fiat SpA said Tuesday it will exercise an option to buy another 3.3% of Chrysler Group, raising its stake in the U.S. company to 61.8%.
Hollywood actor and warlock Charlie Sheen is getting a second chance, this time from Fiat.
In 2008, Mitt Romney wrote a New York Times op-ed titled "Let Detroit Go Bankrupt." He argued then that if the auto companies got a bailout, "you can kiss the American automotive industry goodbye." Lately, however, the Republican frontrunner has begun to favorably compare the government-imposed structured bankruptcies to his work at Bain Capital. "What the president has done overseeing GM and Chrysler has been reminiscent of what people in the private equity industry do," he said a few days ago in South Carolina. "To try and save the business, you have to cut back to a core that matches the revenue of the business."
Chrysler Group unveiled its much-needed new small car, the Dodge Dart small car at the Detroit auto show Monday. The car is expected to go on sale later this year at prices starting at about $16,000. Official fuel economy estimates aren't available, yet.
Sergio Marchionne, CEO of both Fiat and Chrysler Group, said that while he's pleased with the re-launch of the Fiat brand in North America last year, he was "incredibly naive" to think he'd sell 50,000 of the tiny cars in the U.S. in 2011.
Chrysler Group is tapping its history, resurrecting the Dodge Dart name for a new small car being unveiled at next month's Detroit Auto Show.
Fiat unveiled the American version its Abarth 500 compact car at the Los Angeles Auto Show Wednesday. This is the performance-tuned version of the Fiat 500 minicar.
In Wednesday night's Republican presidential debate in Rochester, Michigan, former Massachusetts Gov. Mitt Romney said the federal government played too much of a role in saving automakers General Motors and Chrysler.
FORTUNE -- It wasn't J.Lo's finest moment. The 42-year-old pop singer starred in an ad for Fiat's 500, first aired during Monday Night Football earlier this September. While her dance moves were fine, response to the ad online was less than enthusiastic. One Youtube commenter wrote dryly, "I can't believe a rich person like her would drive a car like this."
If getting attention is the mark of successful advertising, then Fiat-Chrysler's chief marketing officer Olivier Francois is a genius.
Researchers at the University of California, Riverside's Center for Environmental Research and Technology (CERT) are developing a new way of boosting fuel efficiency by as much as 30% without changing a car's powertrain at all.
Italian ultra-luxury carmaker Maserati is recalling cars in the U.S. to fix a potential problem with the rear suspension.
U.S. taxpayers likely lost $1.3 billion in the government bailout of Chrysler, the Treasury Department announced Thursday.
The U.S. Treasury said it has agreed to sell its last remaining stake of Chrysler Group LLC to the Italian automaker Fiat, wrapping up the 2009 bailout.
Fiat will buy the remaining shares of Chrysler Group stock now held by the U.S. government, wrapping up the automaker's 2009 bailout, a Treasury Department official confirmed Friday.
Fiat might soon buy the remaining shares of Chrysler Group stock now held by the U.S. and Canadian governments, closing the book on the 2009 bailout with Treasury still likely to be short by more than $1 billion.
So what were 20 brand-new Fiat 500 Cabrios doing lined up on the rain-soaked Belgian paving stones of New York's SoHo last week?
It has been quite a month for Fiat-Chrysler CEO Sergio Marchionne, and it isn't over yet.
Maserati will get its own SUV model next year, built on the platform of Jeep Grand Cherokee at the Chrysler Group plant in Detroit, the companies announced Tuesday.
At just 30 years old, Cara Goldenberg is at the top of her game. She is the founder and managing partner of Permian Investment Partners, a New York City-based hedge fund she launched in 2008.
Fiat chief Sergio Marchionne is filching a page from BMW's playbook with the perky Fiat 500, a diminutive machine that makes no more sense for mainstream American drivers than Mini, a car that nevertheless overcame long odds by dint of clever marketing.
One of the lesser-known stories of the Obama Administration's auto bailout is how close Chrysler came close to following the fate of Lehman Brothers and being allowed to fail.
At first glance Fiat-Chrysler CEO Sergio Marchionne could pass for a humanities teacher at a small liberal arts college. He wears his black hair on the shaggy side, affects a casual and unchanging wardrobe (blue checked shirt and black sweater), and maintains an attachment to cigarettes (Marlboros in the U.S., Murattis in Italy). He conducts conversations like graduate seminars and seasons his comments with historical references. In a recent speech he quoted Karl Marx, Albert Einstein, Friedrich Nietzsche, and Ronald Reagan.
At least five people died Tuesday night in a four-vehicle crash in northeastern Argentina, the state news service reported Wednesday.
In the next few years, we'll be seeing more Italian cars on American roads as Fiat and Alfa Romeo return to the states after a nearly two decade absence.
How many CEOs do you know who make public their five-year projections, complete with dates and numbers?
Chrysler Group broke even in September and ended its first post-bankruptcy quarter with more cash on hand than it had at the beginning of the period, the company's new boss said Wednesday.
Fiat Group will soon unveil its plans to help get the struggling Chrysler Group back on track. But the question that won't be answered is whether these changes will come in time to save the company.
Chrysler took its first steps with Italy's Fiat, signing a deal and unveiling the new leadership in charge of bringing the company out of bankruptcy and into the future.
Matthew and Marnie Brannon, co-owners of Midwest Fiat in Columbus, Ohio, have run their vintage Italian car parts and service shop for five years. Late last year, they were offered the chance to buy a competitor and expand their business -- but no bank would lend them the money to do it.
Chrysler took its first steps with Italy's Fiat Wednesday, signing a deal and unveiling the new leadership in charge of bringing the company out of bankruptcy and into the future.
Chrysler and Italian automaker Fiat on Wednesday officially signed a strategic alliance brokered by the U.S. government, one day after the Supreme Court cleared the path for the deal.
The U.S. Supreme Court on Tuesday cleared the way for the sale of Chrysler to a consortium led by Italian automaker Fiat.
A federal bankruptcy judge Tuesday approved automaker Chrysler LLC's plan to terminate 789 dealer franchises, calling it an "appropriate and necessary" step by the company.
Chrysler finds itself waiting for word from the Supreme Court as to when it can go ahead with its combination with Italian automaker Fiat. According to the company's filings and industry experts, it won't be able to wait too long.
The Supreme Court threw a wrench into the plans to have a quick bankruptcy process at Chrysler LLC, delaying the company's combination with Italian automaker Fiat.
The railroading of secured lenders by the White House in Chrysler's reorganization raised troubling questions about the rights of U.S. creditors. That the highest court in the land has now signaled a willingness to consider the merits of arguments made by those opposed to the deal is good for capitalism -- not to mention democracy.
A group of Indiana pension funds has made a last-minute effort to block Chrysler's deal with Italian automaker Fiat.
A bankruptcy judge has approved the sale of most of Chrysler's assets to a group led by Italian automaker Fiat, clearing the way for the automaker to emerge from Chapter 11 protection soon.
Court proceedings that could determine the fate of Chrysler LLC continued Thursday after a marathon session that saw the automaker square off with creditors and auto dealers opposing the automaker's government-brokered restructuring plan.
Bankrupt automaker Chrysler LLC "went around the world" searching for a business partner but only Italy's Fiat was willing to strike a deal after last year's economic tumble, a former Chrysler executive told a federal judge Wednesday.
updated: Tue May 26 2009 01:06:00
Fiat's ambitious CEO is in Germany with plans to merge with GM Europe along with Chrysler. CNN's Jim Boulden reports.
As Chrysler struggles to emerge from bankruptcy, its guardian angel has been Fiat's Sergio Marchionne, ready to put his reputation on the line as the CEO of the reorganized company.
updated: Tue May 05 2009 07:02:00
A deal has been reached to combine Chrysler with Fiat. CNN's Allan Chernoff reports.
Chrysler LLC filed for bankruptcy Thursday. But a deal has been reached to combine the company with Fiat in order to allow Chrysler to stay in business.
"I have every confidence that Chrysler will emerge from this process stronger and more competitive," President Obama said today as the automaker filed for bankruptcy and entered into an alliance with Fiat.
Facing a Thursday deadline, Chrysler LLC appears on the verge of bankruptcy even as the Obama administration signaled a commitment to keep the troubled automaker alive.
Chrysler LLC faces the most difficult, and important, week in its 84-year history as the automaker tries to close three difficult deals in order to avoid bankruptcy.
A battery-powered 268-horsepower two-seat sports car is in line to become Chrysler LLC's first electric car, provided the carmaker lives to see another day.
Whether the driver was Sophia Loren or Marcello Mastroianni, or just your average Giuseppe, the compact-but-curvy cinquecento (500) was Fiat's low-cost contribution to the aesthetic of Italy's dolce vita glory days of the 1960s. Reintroduced two years ago, the ever elegant-and environmentally much friendlier-Fiat Nuova 500 has become the symbol of the Turin automaker's long and grinding road back from the brink of insolvency.
"Fiat Saves Chrysler" read the headline on one popular Detroit blog. At first glance, it seemed like a reasonable claim.
For Chrysler, the big benefit from its new alliance with Fiat might be public perception: The automaker, under pressure by the U.S. government to restructure, is taking action to help itself.
The widow and son of a paparazzi photographer who covered Princess Diana were scheduled to testify Thursday at the inquest into her death, and lawyers were expected to ask them about the man's Fiat, which some believe played a role in the fatal crash.
It was the small car that could park in the tightest of spots on the piazza, as Italian as prosciutto and espresso. On its 50th birthday, the Cinquecento is back, and Fiat wants it to become the iPod of cars.
Luca De Meo, head of the Fiat car brand, was given his job after just one interview. It was a hot Turin summer day in 2004, and Sergio Marchionne, the new CEO of the Fiat Group, was prowling the co...
Luca De Meo, head of the Fiat car brand, was given his job after just one interview. It was a hot Turin summer day in 2004, and Sergio Marchionne, the new CEO of the Fiat Group, was prowling the co...
Fiat S.p.A. ranks no. 79 on FORTUNE's Global 500 this year, with $57.8 billion in revenues, down 3.6% from the previous year. The Turin, Italy-based company was ranked no. 57 on the 2005 list. Its 2005 profits were $1.7 billion. 2005 was a banner year for most Global 500 companies.
Fiat SpA (FIA) and Ford Motor Co. (F) will make utilitarian cars together, a company official at the Italian automaker confirmed Friday.
Investors appear likely to shrug off Verizon Communications' agreement to buy long distance provider MCI when the stock markets open Friday.
Fiat and General Motors both refused to blink in a standoff over whether the Italian group can force GM to buy its ailing car unit, raising the threat of a long legal battle and battering Fiat's shares.
Sergio Marchionne, an independent member of Fiat's board and the chairman of Swiss chemicals group Lonza, is the front runner to take over as Fiat chief executive, a source familiar with the situation said Monday.
Thousands of Italians have been paying their last respects to Umberto Agnelli, the chairman of car giant Fiat.
Umberto Agnelli, the chairman of Italian auto giant Fiat, has died at the age of 69 after a battle with cancer, Italian police say.
This isn't where Paolo Fresco, the former GE vice chairman and overseas eyes for Jack Welch, expected to find himself at the twilight of his career. When the Milan native retired from GE to become ...
Goran Lindahl is absolutely neurotic about his company's stock. On a late January day, the chief executive of ABB, the Swiss-Swedish engineering group, is being interviewed by FORTUNE at the compan...
The global automotive chess game continues: First, GM takes a 20% stake in Fiat (which in return gets 5.1% of GM stock)--an alliance worth about $2.4 billion. Days later, Ford scoops up prestigious...
Remember The Reckoning, David Halberstam's weighty 1986 bestseller that celebrated the success of Nissan and other Japanese automakers? Halberstam attributed their rise to cultural spirit, fierce d...
With the end of the century drawing ever closer, we are already being inundated by contests and stunts to determine the most important whatever of the past 100 years. Among the competitions already...
LIKE AMERICANS, Europeans are passionate about their cars -- they just express themselves a little differently. They prefer the intimacy provided by a manual gearbox over the remoteness of an autom...
/ As BMW's recent acquisition of England's Rover Group motors toward completion, other automakers are now considering their own linkups. A number of money- losing companies like Fiat in Europe and ...
Italy is saying arrivederci to its old ingrown way of doing business. For decades, a few powerful Northern families have dominated many huge corporations, as the Agnellis do Fiat, while a giant sta...
-- ANITA HILL, 36, the University of Oklahoma law professor who accused Clarence Thomas of sexual harassment before he was confirmed to the Supreme Court, on how the hearings may have encouraged mo...
If the idea of owning a sports car intrigues you but a Ferrari is beyond your budget, consider the more affordable '70s makes like the MGB, Triumph TR6 or Fiat Spider. These cars can be raced (but ...
IN THE 1990s, the battleground for leadership in the global auto industry will be not North America, not Asia -- but Western Europe. By overtaking the U.S. as the world's biggest market, Europe is ...
WITH THE FALL of the Wall and the lifting of the Curtain, Western managers and investors must rethink their strategies for doing business in Europe in the 1990s. Suddenly the Old World has gained a...
''WE ARE of the same breed. One of her ancestors was Attila the Hun and one of mine was Genghis Khan. We have found each other. We are on the same wavelength.'' So says Prince Johannes von Thurn un...
AT 68, Giovanni Agnelli, chairman and principal owner of Fiat, is one of the most powerful industrialists in Europe. How he reacts to the changes that are about to sweep the global auto industry wi...
By the standards of the 30-year men who run most of the world's biggest companies, Cesare Romiti of Fiat Group is a job-hopper. Before joining Fiat 13 years ago, Romiti, who was born and educated i...
FIAT GROUP, Italy's foremost industrial company and one of Europe's leading carmakers, is firing on all cylinders again. But don't give Giovanni Agnelli, Fiat's famous chairman and principal owner,...
A few years after cash-starved Fiat Group sold a $400-million stake to Libya, the company began to turn the corner (FORTUNE, November 12, 1984). Now Libya needs cash, so in September Fiat divorced ...
HEARD ABOUT the latest Italian fashion? It's called capitalism. Over the past 14 months share prices on the Milan Stock Exchange have charged ahead by more than 180% -- one of the world's biggest b...
FIAT GROUP, Italy's foremost industrial company and one of Europe's leading carmakers, is firing on all cylinders again. But don't give Giovanni Agnelli, Fiat's famous chairman and principal owner,...
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