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Fiat Chrysler seeks $6.8 billion state-backed loan in Italy

MILAN — Italian Prime Minister Giuseppe Conte said on Saturday that Fiat Chrysler was entitled to apply for Italy's state-backed loans because the automaker employs thousands of people in the country, even though its legal base is located abroad. The Italian-American group confirmed on Saturday its Italian unit was working with Rome to obtain state guarantees on a 6.3-billion-euro ($6.8 billion) loan facility designed to help Italy's automotive industry, comprised of approximately 10,000 small and medium-size businesses. The coronavirus outbreak, which has hit Italy especially hard, slammed the brakes on demand for new vehicles and forced automakers to halt most production, burning cash. Fiat Chrysler Automobiles said in a statement that talks were ongoing with lender Intesa Sanpaolo for a three-year credit facility exclusively dedicated to the group's activities in Italy. Asked whether FCA, which has its legal headquarters in the Netherlands, could get a loan guaranteed by the Italian government, Conte said the group qualified. "We're not talking about the parent company, we're talking about the group's companies in Italy, which employ thousands of people," the prime minister said. FCA runs several plants and research and development centers in Italy, directly employing around 55,000 people. In addition, over 200,000 people work in Italy's 5,500 parts suppliers and 120,000 people in car dealers and service companies, with the automotive industry accounting for 6.2% of Italy's domestic product, FCA said. News that FCA was asking the Italian government for liquidity support had raised criticism. The ruling party PD's deputy president, Andrea Orlando, earlier on Saturday said on Twitter that if a company asked the Italian government for sizable financing, it had to bring back its legal base to Italy. The scheme is part of emergency measures the Italian government is making available to the country's businesses. It offers more than 400 billion euros' worth of liquidity and bank loans to companies hit by the pandemic. FCA said the state-backed credit facility it is seeking will have "the sole purpose of providing operational support for payments to Italian suppliers to support their liquidity and, at the same, supporting the restart of production and investment at Italian plants." The group has gradually restarted operations in Italy since the end of April. Related Video: Earnings/Financials Government/Legal Chrysler Fiat coronavirus

2017 Chrysler Pacifica Hybrid Quick Spin | Dad tested, kid approved

The Chrysler Pacifica Hybrid is a compelling minivan, which feels less weird to say the more we say it (and the more we drive it). Adding a plug-in powertrain to an already solid family hauler makes it more interesting, and leaves the world just a little less greenhouse-gassy for those children you'll be carrying around in it. So, when we had the chance to actually take one home with us, we strapped in the car seat and put it through some real-world usage. For reference, the non-hybrid Pacifica comes with the standard Pentastar 3.6-liter V6, connected to a nine-speed automatic transmission. It provides 287 horsepower and offers 19 miles per gallon city, 28 highway, and 22 combined. The Pacifica Hybrid adds two electric motors and a variable transmission to its more efficient, less powerful Atkinson cycle V6, providing a total of 260 horsepower. The Hybrid also has a 16-kWh battery pack to power its electric driving. It's rated at a combined 84 miles-per-gallon equivalent. Our test kid, Wolfgang, loved the Pacifica Hybrid. He repeatedly asked for rides, which is not unusual, but seemed to prefer the Chrysler to his other options. He even got upset the one time we put him in Mama's Mercedes GLK while the Pacifica was in the driveway. Wolfgang especially loved the buttons to open and close the automatic doors. After heading indoors, he'd occasionally point out the window toward the minivan saying, "Button." He also thought the horn was hilarious. He's heard his fair share of car horns so far in his young life, but none have ever gotten the same belly laughs that the horn in the Pacifica evoked. We have no idea why. It sounds like a normal car horn to us. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Getting the car seat in and out of the Pacifica Hybrid was super easy. The captain's chairs make it even easier. The LATCH anchors were prominent, and easy to find by feel when reaching over the seat. It also helps that you can access the inside anchor by hopping to the other side of the vehicle, and the openness of the second row provides more room to work with. Once in the car, the huge door openings made it easy to get the little guy in and out of the rear-facing seat. While driving, the quietness of the cabin helps facilitate the sort of rudimentary conversation a toddler can hold.

Big Black Friday discounts key to Chrysler 200 sales success

A lot of people go shopping for deals on TVs or computers around the holiday season, but it looks like some folks are finding some fantastic deals on cars too. Take the Chrysler 200 for example. The new sedan had a great November in terms of sales, and by Chrysler's numbers, it delivered 14,317 of them for the month, a 155 percent increase from the same month last year. It even beat the November 2013 sales of the old 200 and Dodge Avenger combined. However, a report from Daily Kanban based on TrueCar data suggests that the good month came at least in part from steep incentives. Based on 20,156 sales of the 200 from TrueCar's database, average transaction prices were about $2,500 to $4,000 under MSRP for all but the base LX front-wheel drive model. That one actually went for about $68 above the typical base price. Going by these numbers, most people could have bought nearly any trim cheaper than the listed price of the one above it. For example, the top C AWD averaged $27,423, less money than the stated MSRP of the lower-spec S AWD. TrueCar's website also shows 200 pricing dipping in the latter part of November and into early December. There's no doubt that the 200 had a stellar month for November. But these figures suggest that it might have come partially because buyers found stacks of money on 200 hoods, while out doing some holiday shopping. Related Video: