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Weekly Recap: Chrysler forges ahead with new name, same mission

Chrysler is history. Sort of. The 89-year-old automaker was absorbed into the Fiat Chrysler Automobiles conglomerate that officially launched this fall, and now the local operations will no longer use the Chrysler Group name. Instead, it's FCA US LLC. Catchy, eh? Here's what it means: The sign outside Chrysler's Auburn Hills, MI, headquarters says FCA (which it already did) and obviously, all official documents use the new name, rather than Chrysler. That's about it. The executives, brands and location of the headquarters aren't changing. You'll still be able to buy a Chrysler 200. It's just made by FCA US LLC. This reinforces that FCA is one company going forward – the seventh largest automaker in the world – not a Fiat-Chrysler dual kingdom. While the move is symbolic, it is a conflicting moment for Detroiters, though nothing is really changing. Chrysler has been owned by someone else (Daimler, Cerberus) for the better part of two decades, but it still seemed like it was Chrysler in the traditional sense: A Big 3 automaker in Detroit. Now, it's clearly the US division of a multinational industrial empire; that's good thing for its future stability, but bittersweet nonetheless. Undoubtedly, it's an emotion that's also being felt at Fiat's Turin, Italy, headquarters as the company will no longer officially be called Fiat there. Digest that for a moment. What began in 1899 as the Societa Anonima Fabbrica Italiana di Automobili Torino – or FIAT – is now FCA Italy SpA. In a statement, FCA said the move "is intended to emphasize the fact that all group companies worldwide are part of a single organization." The new names are the latest changes orchestrated by CEO Sergio Marchionne, who continues to makeover FCA as an international automaker that has ties to its heritage – but isn't tied down by it. Everything from the planned spinoff of Ferrari, a new FCA headquarters in London and the pending demise of the Dodge Grand Caravan in 2016 has shown that the company is willing to move quickly, even if it's controversial. While renaming the United States and Italian divisions were the moves most likely to spur controversy, FCA said other regions across the globe will undergo similar name changes this year. Despite the mixed emotions, it's worth noting: The name of the merged company that oversees all of these far-flung units is Fiat Chrysler Automobiles. Obviously the Chrysler corporate name isn't completely history.

Junkyard Gem: 2006 Chrysler 300C

During my wrecking-yard travels, I tend to focus on old, rare, and/or strangely badge-engineered vehicles when I decide what is worth documenting. Sometimes, though, a fairly mainstream vehicle from our current century catches my eye, and this 2006 Chrysler 300C in a Charlotte, North Carolina, junkyard is such a car. The current Chrysler Hemi engine family first appeared in 2003 Dodge trucks, and so the revival of the legendary Hemi name was still pretty new when the 300C went on sale. This car had 340 horsepower when new, which almost certainly meant more power at the wheels than the 426 Hemi cars of the late 1960s and early 1970s (the differences between gross and net horsepower ratings tend to result in inflated power numbers for cars of a half-century back). At considerably more than 2 tons, however, the 300C wasn't likely to humiliate a '70 Hemi 'Cuda in a drag race. This car appears to be in reasonably solid condition, so we can assume that something very expensive went wrong with the engine and/or transmission. That won't stop some eager junkyard shopper from grabbing the Hemi, though. The same junkyard had a 2001 Audi S8 when I stopped by, with 360 horsepower, but nobody will want that engine for their work truck. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. There's a lot of stuff in this ad that could be interpreted much differently in 2018, compared to 2006, starting with the Aung San Suu Kyi reference. Featured Gallery Junked 2006 Chrysler 300C Hemi View 15 Photos Auto News Chrysler Automotive History

Fiat seeking $10B in financing to buy Chrysler

As Fiat looks to become the full owner of Chrysler, all it has standing in its way is the retiree trust of the United Auto Workers, which currently holds the remaining 41.5 percent of the company as the result of the Pentastar's bankruptcy deal. The Detroit News is reporting that that Fiat is currently talking to numerous banks in an attempt to raise around $10 billion to fund the purchase of Chrysler's remaining stake with enough left over to refinance the debt of both companies. We've known that Fiat has been working to obtain the capital to buy out Chrysler for some time now, but this is the first time we've seen Fiat tip its hand about how much cash it thinks it will need to close the deal.
The first order of business is a legal dispute over the value of the UAW's stake in Chrysler, which the report indicates could cost Fiat around $3.5 billion. The acquisition of remaining shares could happen by this summer, but it sounds like CEO Sergio Marchionne (above) might not be ready for a full merger until next year.