Chrysler Officially Became A Fiat Group Subsidiary
|   Tuesday, January 28, 2014
Fiat has purchased the Chrysler Group, the company that owns the Dodge, Jeep, Ram and Chrysler brands. We are now talking about the approval and completion of the transaction; the Italians' plan was announced a long time ago.

Five years ago, Fiat and Chrysler signed an alliance to increase sales globally. Fiat has acquired the remaining 41.4616 percent of the shares of the American company for the amount of 2.65 billion euros. These shares were purchased from the UAW (United Automobile Workers), the largest union in the American auto industry.
Besides, Chrysler is committed to pay to the Americans from VEBA, the UAW wing which covers the health insurance costs of retired American union, 700 million dollars (510 million euros) in four annual installments.

"The unified ownership structure will now allow us to fully execute our vision of creating a global auto maker. If you were to look at this objectively and you were trying to make a choice that reflected access to capital markets and the ability to finance operations and so on, then by definition the United States would appear to have a large claim in terms of its right to at least the financial markets to house the combined Fiat/Chrysler," Chrysler's and Fiat's CEO, Sergio Marchionne said.

Together, Fiat and Chrysler are the seventh largest car manufacturer in the world, estimated Marchionne. Last year, the two companies together have sold about 4.4 million vehicles, less than half of annual deliveries by Volkswagen AG, General Motors and Toyota Motor Corp.
PHOTO GALLERY
Comments:
Name required * Email required Email not valid *
Comment required *

Latest news
Sunday, August 19, 2018 10:30:31 Nissan is present at the Detroit Auto Show with a compact concept SUV called...
Saturday, August 18, 2018 10:25:17 Another Hyundai premiere at the Detroit Auto Show is the new Veloster N,...
Friday, August 17, 2018 10:20:24 The South Koreans from Kia presented at the Auto Show in Detroit the new...
Thursday, August 16, 2018 10:15:59 After a massive promotion campaign, the US subdivision of Hyundai has officially...
Wednesday, August 15, 2018 10:05:55 Acura boasted that the new RDX is 100% made in the United States and is...
Tuesday, August 14, 2018 09:54:10 At the core of the new VW Jetta is the MQB platform, which is already used...
Tuesday, August 14, 2018 09:50:38 General Motors held the world premiere for the new generation Chevrolet...
Monday, August 13, 2018 09:45:39 The Ram Trucks brand, currently belonging to Fiat Chrysler Automobiles,...
Sunday, August 12, 2018 09:39:52 Ford brought the new generation mid-size Ranger pick-up at the Detroit Auto...
Saturday, August 11, 2018 09:34:13 At the Auto Show in Detroit, American car manufacturer Ford celebrates the...