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Fiat buys remaining stake in Chrysler (2014)
Fri, 03 Jan 2014By Damion Smy Motor Industry 03 January 2014 13:30 Fiat has purchased the remaining stake in Chrysler to become the sole owner of the US car firm. In a deal worth £2.2billion, the Italian company bought the remaining 41.46% of Chrysler from the VEBA Trust (Voluntary Employee Beneficiary Association) made up of current and former Chrysler employees. Fiat Chief Executive Sergio Marchionne says: ‘In the life of every major organisation and its people, there are defining moments that go down in the history books.
GM recall shows NHTSA failings too
Wed, 12 Mar 2014Ever since General Motors recalled 1.6 million of its cars globally over a decade-old defect that could cut off engines and deactivate airbags in a crash, the automaker has been pointedly contrite. After all, its slow response may have cost some people their lives. So why have U.S.
European car sales crash
Fri, 16 Mar 2012Renault saw its sales fall 23.7 per cent in February Car sales across Europe have fallen nearly 10 per cent in the economic gloom, with Renault, Peugeot Citroen, Fiat and Opel the big losers. There’s been a big decline in new car sales across Europe in February, with monthly sales down almost ten per cent compared to 2011, and it’s the mainstream car makers who are suffering the most. Sales for Renault are down by a massive 23.7 per cent to 86,402, Peugeot Citroen did almost as badly with a drop of 16.5 per cent to 118,381 and Fiat suffered the same percentage drop with sales of 66,249 (Alfa Romeo sales actually fell by 28.5 per cent).