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post #1 of 11 (permalink) Old 03-30-2009, 03:01 PM Thread Starter
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Chrysler Solidifies Deal With Fiat…That Was Quick


Hours after President Barak Obama gave Chrysler a deadline of 30 days in which to solidify a partnership with Fiat, a deal has indeed been made.

"We are pleased that Chrysler, Fiat and Cerberus have reached agreement on a framework of a global alliance, supported by the U.S. Treasury," said Chrysler Chairman and CEO Bob Nardelli in a press release issued by Chrysler. "Chrysler has consistently said that the alliance with Fiat enhances its business model that expands its global competitiveness. We appreciate the willingness of the Task Force, along with industry and financial experts, to consult closely with us in order to achieve this significant step."

The new partnership will see Fiat provide Chrysler with technology, products and several vehicle platforms for global distribution.

"Fiat strengthens Chrysler's ability to create and preserve U.S. jobs; gives U.S. consumers more choices for environmentally advanced vehicles; gives its dealers more of the products they need to be successful; helps stabilize the supplier base; and allows Chrysler to pay back government loans sooner," continued Nardelli.

"I want to personally assure all of our customers, dealers, suppliers and employees that Chrysler will operate 'business as usual' over the next 30 days. While we recognize that we still have substantial hurdles to resolve, Chrysler is committed to working closely with Fiat, the Administration, U.S. Treasury and the Task Force to secure the support of necessary stakeholders."

The final details of the Chrysler and Fiat partnership (whether it be a merger or ownership) must still be worked out over the next 30 days, after which Chrysler is still seeking $6 billion to get the new Chrysler on its feet.

More: Chrysler Solidifies Deal With Fiat…That Was Quick on AutoGuide.com
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post #2 of 11 (permalink) Old 03-30-2009, 03:33 PM
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post #3 of 11 (permalink) Old 03-30-2009, 03:44 PM
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Chrysler and Fiat have already released what the new version of the Commander, this is what it will look like. BARF! Lets just hope that they barrow technology and NOT style from Fiat.

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post #4 of 11 (permalink) Old 03-30-2009, 05:01 PM
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post #5 of 11 (permalink) Old 03-30-2009, 05:04 PM
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post #6 of 11 (permalink) Old 03-30-2009, 05:19 PM
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Gee, another marriage of two badly run companies into one large one. That gives me so much more confidence in the viability and future of Chrysler! Bleah!

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post #7 of 11 (permalink) Old 03-30-2009, 09:49 PM
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Well, actually Fiat is a rather well run outfit in Italy and throughout most of the world.
They failed miserably here, and that memory remains strong throughout U.S.A.

Although I will watch this with a bit of skepticism I do feel better with another auto company involved.
I have never felt comfortable for Chrysler with a management company involved.

We'll see,
Rob
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post #8 of 11 (permalink) Old 03-30-2009, 09:56 PM
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FIAT does extremely well for themselves. They own a ton of stuff, a lot of it right here in the US, expecially in the agriculture field. CaseIH and New Holland are two examples. Personaly, when it comes to tractors I bleed green, but both are very well known for their quality and engineering. If anybody can turn around Chrysler its these guys.
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post #9 of 11 (permalink) Old 03-30-2009, 10:10 PM
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for the best part I think it can do us no harm and may turn out to be good thing for our economy and the American worker!!!
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post #10 of 11 (permalink) Old 03-31-2009, 08:01 AM
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Fiat??

Good/bad experience with Fiat in the 70s. Bought a 1966 Fiat 1500 in 1970, loved the car, but, at that time, parts were nearly impossible to get (no Internet...). And dealers, even then, were "scarce as hen's teeth".
On our trips to Europe over the past 10 years, there were always lots of Fiats observed, so somebody still likes them.
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