2008 Chrysler Pacifica Lx Automatic 4-door Wagon on 2040-cars

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Fiat ups Chrysler stake by 3.3%, inches closer to full control

Fiat is one step closer to completing a merger with Chrysler after exercising an option to acquire an additional 3.3 percent of the Auburn Hills-based automaker today. Automotive News reports that Fiat now controls 68.49-percent of Chrysler, which is up almost 10 percent since we last heard news of this deal back in February when Fiat talking to various banks to raise more capital in order to complete the acquisition.
The article says that Fiat is still able to increase its stake in Chrysler up to 75 percent over the next 12 months, but it sounds like CEO Sergio Marchinonne would rather purchase the remaining shares from VEBA - the retiree benefits trust - sooner rather than later. Unfortunately, the two sides still seem far from an agreement on a fair price for the rest of Chrysler, as Fiat has them valued at $4.2 billion compared to the $10.3 billion estimate from the unions that currently own the remaining stake in Chrysler.

Marchionne says no offers are on the table for Fiat Chrysler

MONZA, Italy (Reuters) - Fiat Chrysler (FCA) has not received any offer for the company nor is the world's seventh-largest carmaker working on any "big deal", Chief Executive Sergio Marchionne said on Saturday. Speaking on the sidelines of the Italian Formula One Grand Prix, Marchionne said the focus remained on executing the company's business plan to 2018. Asked whether FCA had been approached by someone or whether there was an offer on the table, he simply said: "No." The company's share price jumped to record highs last month after reports of interest for the group or some of its brands from China. China's Great Wall Motor Co Ltd openly said it was interested in FCA, but had not held talks or signed a deal with executives at the Italian-American automaker. The stock move was also helped by expectations that the company might separate from some of its units. Marchionne reiterated on Saturday that FCA was working on a plan to "purify" its portfolio and that units, such as the components businesses, would be separated from the group. He hopes to complete that process by the end of 2018. "There are activities within the group that do not belong to a car manufacturer, for example the components businesses. The group needs to be cleared of those things," he told journalists. Asked whether an announcement could come this year, Marchionne said it was up to the board to decide and that it would next meet at the end of September. He said the time was not right for a spin-off of luxury brand Maserati and premium Alfa Romeo and the two brands needed to become self-sustainable entities first and "have the muscle to stand on their feet, make sufficient cash". "The way we see it now, it's almost impossible, if not impossible, to see a spin-off of Alfa Romeo/Maserati, these are two entities that are immature and in a development phase," he said. "It's the wrong moment, we are not in a condition to do it." He said the concept of separating the two brands from FCA's mass market business made sense and did not rule out this happening in future, but not under his tenure, which lasts until April 2019. "If there is an opportunity in future, it would certainly happen after I'm gone. It won't happen while Marchionne is around," he said.

Dodge offering novel 1-year lease on '14 Challenger and Charger models

Dodge is just days away from unveiling refreshed versions of the Charger and Challenger at the 2014 New York Auto Show, models promising updated styling and new powertrain options. Depending on how you look at it, the company is either so confident in its forthcoming 2015 models that it's offering an interesting Double-Up lease deal on the current vehicles, or it's so eager to clear out existing stock that it's resorting to novel lease deals. In any case, what they present is an interesting scenario, one which allows buyers to get the existing model right now, and then trade up to the facelifted 2015 models in one year.
Starting April 17, when the refreshed cars debut through the end of August, buyers can lease a 2014 Charger or Challenger for one year and exchange it for a three-year lease on a 2015 model next year, with no additional money down and the same monthly payment. Customers can even switch vehicles when the new lease starts. If drivers want to buy the '15, they get $1,000 off the purchase price. To be eligible, both leases must use the same dealership and be financed through Chrysler Capital. The Double-Up deal excludes the SRT versions of both cars and Charger SE models.
To offset the flood of one-year-old models coming back to dealerships, Dodge has struck a deal with rental car agency Enterprise, which has agreed to buy them all. "One-year leases are highly unusual in the industry," said company spokesperson Ralph Kisiel, and the fleet sale deal is what makes it possible.