2008 Chrysler Crossfire Limited Coupe 2-door 3.2l on 2040-cars

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Auto bailout cost the US goverment $9.26B

Depending on your outlook, the US Treasury's bailout of General Motors, Chrysler (now FCA) and their financing divisions under the Troubled Asset Relief Program was either a complete boondoggle or a savvy move to secure the future of some major employers. Regardless of where you fall, the auto industry bailout has officially ended, and the numbers have been tallied. Of the $79.69 billion that the Feds invested to keep the automakers afloat, it recouped $70.43 billion – a net loss of $9.26 billion. The final nail in the coffin for the auto bailout came in December 2014 when the Feds sold its shares in Ally Financial, formerly GMAC. The deal turned out pretty good for the government too because the investment turned a 2.4 billion profit. The actual automakers have long been out of the Treasury's hands, though. The current FCA paid back its loans six years early in 2011, the Treasury sold of the last shares of GM in late 2013. According to The Detroit News, the government's books actually show an official loss on the auto bailouts of $16.56 billion. The difference is because the larger figure does not include the interest or dividends paid by the borrowers on the amount lent. While it's easy to see fault in any red ink on the Feds' massive investment, the number is less than some earlier estimates. At one time, deficits around $44 billion were thought possible, and another put things at a $20.3 billion loss. Outside of just the government losing money, the bailouts might have helped the overall economy. A study from the Center for Automotive Research last year estimated that the program saved 2.6 million jobs and about $284.4 billion in personal wealth. It also indicated that the Feds' reduction in income tax revenue alone from Chrysler and GM going under could have been around $100 billion for just 2009 and 2010, significantly more than any loss in the bailout.

Marchionne says the Chrysler 200 and Dodge Dart were terrible investments for FCA

In a press conference during the Detroit Auto Show, Sergio Marchionne was quite candid about why the Chrysler 200 and Dodge Dart were discontinued altogether without replacement. He essentially said they weren't worth the trouble. "I can tell you right now that both the Chrysler 200 and the Dodge Dart, as great products as they were, were the least financially rewarding enterprises that we've carried out inside FCA in the last eight years," Marchionne said. "I don't know one investment that was as bad as these two were." Marchionne was responding to a question about whether he felt the company's shift toward trucks and SUVs and sacrifice in sedan development was shortsighted. Marchionne said he felt that the market would likely continue to be strong for trucks and SUVs, and that the sedan market requires enormous investment that might not pay off. He used the 200 and Dart as examples. When we tried out the 200 and the Dart, we had mixed feelings. We enjoyed the 200's potent V6, pleasant interior, and solid handling. However, it was lacking in space (especially in the rear seat area), and doesn't drive any better than the top vehicles in the midsize sedan class. As for the Dart, it was fairly roomy, and had great infotainment thanks to Uconnect, but lackluster handling and a surprising amount of weight left it only average. With that in mind, it's probably not a bad idea to get rid of the 200 and Dart. The sedan segment is shrinking, and FCA can only afford to invest in areas where it can be a class-leader. Related Video:

Chrysler Pacifica Hybrid recalled over fire risks

WASHINGTON — Chrysler parent Stellantis is recalling 19,808 plug-in hybrid minivans and urged owners to stop recharging them, after reports of 12 fires in parked vehicles. The automaker said the recall covers 2017-2018 Chrysler Pacifica Hybrid vehicles. All were parked and turned off, while eight were connected to chargers. Stellantis said it was unaware of any related injuries or accidents. Stellantis is advising owners to refrain from recharging the vehicles and to park them away from structures and other vehicles. The automaker said it is working to confirm the cause of the fires. Owners can keep operating the vehicles using the internal combustion engine. The National Highway Traffic Safety Administration declined to comment. The recall comprises 16,741 vehicles in the United States, 2,317 in Canada and another 750 outside North America. Other automakers have faced fire issues with plug-in hybrid or full electric vehicles. General Motors halted production of its Chevrolet Bolt electric vehicle in August and has extended that halt through the end of this month. The largest U.S. automaker in August widened its recall of the Bolt to more than 140,000 vehicles to replace battery modules after a series of fires. GM has also indefinitely halted retail sales of new Bolt vehicles. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.