Discussion in 'Fiat Global News' started by kedarbendre, Jan 11, 2011.
http://www.caranddriver.com/features/09 ... er-feature
Have a look.
Good to see FIAT finally reaching America. I was quite stumped by their absence in such a big market.
Maybe they need to simultaneously start getting busy in fixing their Indian arm. What's the logic in fixing and concentrating on a recessionary market while ignoring a booming one?!
FIAT has finally bought the majority stake in Chrysler and its now officialy under the FIAT group.
Among others, it now has ownership of the iconic Jeep Wrangler,
A two door 2.4 Multijet Jeep Wrangler, anyone?
Even I was very fond of Jeep Wrangler and I have seen it's immense performance in the desert sand. Now it comes under the FIAT group woow:steering ..Would love to have a Multijet Jeep Wrangler in India
This is the link from The Hindu http://www.hindu.com/2011/06/05/stories/2011060559942000.htm
NEW YORK: Iconic American carmaker Chrysler officially came under the Italian flag on Friday when Fiat announced it had obtained a majority share after buying out the U.S. government's stake.
The takeover comes two years after Fiat took a 20 per cent stake in exchange for sharing its technology and providing trusted leadership as Chrysler emerged from a government-backed bankruptcy.
President Barack Obama celebrated the news with a visit to a Chrysler plant in Toledo, Ohio, where he told workers that the government's unpopular decision to bailout Chrysler, General Motors and their suppliers had paid off. Just two years ago, Toledo and other cities across the country came perilously close to learning what life would be like if Chrysler's plants shut down.
The deepest recession in decades had already cost the U.S. auto industry 400,000 jobs and millions more jobs could have been lost if Chrysler and GM had failed. “Today, all three American automakers are turning a profit. That hasn't happened since 2004,'' Mr. Obama said.
"Today, all three American automakers are gaining market share. That hasn't happened since 1995.'' The Detroit Three are also expanding production, which has helped the auto industry recover 113,000 jobs in the past two years, according to the President.
“And today, I'm proud to announce the government has been completely repaid for the investments we made under my watch by Chrysler because of the outstanding work that you guys did,'' he told the plant workers.
But while Chrysler may have repaid the loans extended after Mr. Obama took office in January 2009 six years earlier than planned, U.S. taxpayers still took a hit.
The U.S. Treasury estimates that it will not recover $1.3 billion of the $12.5 billion of taxpayer funds injected into the struggling automaker beginning in December 2008 under then-president George W. Bush.
Chrysler, which got back in the black in the first quarter of this year for the first time since emerging from bankruptcy, has completely revamped its product offerings and was one of the only big carmakers to post a sales gain last month. — AFP
Anyone has any idea how'z FIAT doing in US?
hatts off to FIAT ::T::T::T
Totaly agree amit i think Fiat is still confused about its India operations by seeing the performance of Fiat India.
Sergio Marchionne - Person of the Year 2011
Sergio Marchionne - Person of the Year 2011 - TIME
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