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Fiat CEO Sergio Marchionne declared "the worst has passed" Wednesday after the Italian automaker reported an unexpected, small third-quarter profit on Wednesday.
A person briefed on the agenda says the new Chrysler Group LLC board will discuss plans for a number of new models, some based on cars sold by Italy's Fiat Group SpA.
Chrysler Group LLC on Sunday announced the remaining members of its new board of directors, a group that includes a former CEO of Northwest Airlines, investment bankers and top officials of the Italian automaker Fiat Group SpA.
Chrysler may have sealed its alliance with Italy’s Fiat, but the automaker still faces the serious challenges, according to analysts. The automaker must integrate operations with its new owner and bridge a product gap until a new line of small cars is available late next year.
If the sale of Chrysler LLC's assets to Fiat Group SpA is cleared by the Supreme Court, the Italian automaker will shake up Chrysler management and change the company's culture, according to a senior Obama administration official.
Italy's Fiat is the new owner of most of Chrysler's assets, closing a deal Wednesday that saves the troubled U.S. automaker from liquidation and places a new company in the hands of Fiat's CEO.
The sale of Chrysler LLC to Italian automaker Fiat Group SpA is fair, has the backing of a majority of Chrysler's creditors and should proceed quickly, Chrysler and other supporters of the sale said in court briefs filed Thursday.
A parade of Chrysler dealers slated to lose their franchises took the stand Thursday in the automaker's bankruptcy protection case, one choking back tears, as they touted their sales and service records and questioned how they were chosen for termination.
A bankruptcy judge on Wednesday denied a motion from a pair of Indiana state pension funds and a state construction fund to delay the proposed sale of most of Chrysler's assets, saying the funds' plan to challenge the legality of the sale in another court wasn't enough of a reason to push back the proceedings.
The group of dissident Chrysler bond holders challenging Chrysler LLC's government-backed restructuring plans, said Friday that it is dropping its court fight.
A Fiat tie-up with General Motors Corp.'s Opel unit would allow "immense" cost savings, the Italian auto maker's boss was quoted Tuesday as saying, arguing the two companies would be a good fit.
Fiat Group SpA will be on the path to becoming a global automotive powerhouse if Chief Executive Sergio Marchionne has his way.
Talks between Chrysler LLC's lenders and the Treasury Department to reduce the automaker's $6.9 billion in secured debt and keep it out of bankruptcy protection have disintegrated, a person familiar with the talks said early Thursday.
It looks like scrappy little Chrysler LLC might yet escape the auctioneer's gavel.
Chrysler's first hearing in a New York courtroom Friday morning may offer the first clue as to whether a quick, "surgical" bankruptcy is possible. The nation's third-largest automaker filed for Chapter 11 bankruptcy protection Thursday with an ambitious plan to emerge in as little as 30 days as a leaner, more nimble company.
If Chrysler LLC and Fiat Group SpA can work out an alliance in the next two weeks or so, Chrysler would be run by a new board appointed by the U.S. government and Fiat, Chrysler's top executive said in a message to employees.
Chrysler says that if its proposed alliance with automaker Fiat SpA goes through, the Italian automaker would be responsible for 35 percent of Chrysler's debt to the U.S. government.
The Obama administration's auto industry task force was meeting Friday to review the status of General Motors Corp. and Chrysler LLC, which are surviving on $17.4 billion in loans.
The Italian automaker Fiat Group SpA's layoff plans are now hitting white-collar workers.
Fiat Group SpA has for the first time shut down most of its Italian plants for a month, laying off nearly 50,000 workers for an extended holiday as it copes with the precipitous drop in demand for new cars.
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