2010 Chrysler Town & Country Touring on 2040-cars

Auto blog

Chrysler IPO to be filed as early as this week

An initial public offering for the Chrysler Group could happen this week, following Sergio Marchionne's comments to Financial Times in London, according to a report from The Detroit News. Fiat, which owns 58.5 percent of Chrysler, has been in a battle with the UAW retiree healthcare trust over its minority stake in the company. While the automotive union recognizes its role as a temporary shareholder, the two couldn't come to an agreement on how the shares should be priced.
As Marchionne explained to FT, a Chrysler IPO allows the market, rather than the two competing sides, to determine the value of the shares. The public offering is a risky move, which could potentially hang one side out to dry - if the shares go high, it's bad news for Fiat, but if they go low, the UAW stands to lose. Regardless of where the stock prices go in an IPO, though, it's a move that's being supported by analysts, who are quick to cite Chrysler's near-constant growth and a product lineup that is getting healthier with each new introduction.

FCA CEO Manley says alliances are still possible but aren't necessary

DETROIT — Fiat Chrysler Automobiles Chief Executive has a message for Renault SA and other would-be partners: We are happy to talk, but we can go it alone. "Strategically, we have a solid future and clear plans that are being invested in and are underway now," Mike Manley said during a session with reporters the day after the company released better than expected second-quarter results. "That isn't to say if there is a better future through an alliance or partnership or merger we wouldnÂ’t be open and interested to it." Fiat Chrysler is open to re-starting merger negotiations with French automaker Renault, Manley said, but added the French car maker is not the only potential partner to gain scale or plug gaps in Fiat Chrysler's technology or vehicle lineup. "To say are they the only opportunity, the answer to that question would be a definitive ‘No,Â’" Manley said. Fiat Chrysler in June withdrew a $35 billion merger proposal with Renault after French government officials intervened in the talks and sought to delay a decision on the deal. The Wall Street Journal reported on Friday that Renault and Nissan are trying again to reshape their alliance and resolve disagreements that helped to derail the merger talks with Fiat Chrysler. Fiat Chrysler has a commercial vehicle partnership with French rival Peugeot SA, and the two companies discussed a broader combination before Fiat Chrysler made its offer to Renault, people familiar with the situation have said. Manley said automakers are not the only potential partners. "There are cooperations that can help in specific technologies. There are cooperations as we think about the consumer-car interface," he said. "You could see collaborations that never would be there in the past." Fiat Chrysler's North American business is strong thanks to Ram trucks and Jeep SUVs, but in other markets the automaker faces continued challenges. The company is overhauling its mass-market business in Europe, which is anchored by the Fiat brand. Fiat Chrysler's Europe, Middle East and Africa operations were marginally profitable in the second quarter and achieved 1.8% profit margin in 2018. Manley has set a goal of 3% operating margins, well short of the 10% margins the company forecast for North America.

Junkyard Gem: 1950 Chrysler Windsor Club Coupe

In 1950, shoppers in Chrysler showrooms had a choice between the low-end Royal, the midgrade Windsor, and the top-of-the-line New Yorker. This 1950 Windsor coupe managed to outlast nearly all of its contemporaries, finally coming to a halt in a wrecking yard just outside of Chicago. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. I stopped by this yard, Ashley's U-Pick-A-Part in Joliet, while I was working at the 24 Hours of Lemons Chicago race. When it comes to junkyard ambience, this one is nearly impossible to top (though Martin's Salvage in northeastern Colorado comes close), especially given its location: right across the street from the now-closed Joliet prison, best-known for its role in the opening sequence of " The Blues Brothers." Set on the grounds of an ancient, decaying factory, a large part of Ashley's inventory lives indoors in Rust Belt splendor. The star of the Chrysler section, this '50 Windsor has a place of honor and sits separate from your humdrum Avengers and Grand Cherokees. Because this is the Upper Midwest, the floors are more air than metal and big bites out of the rest of the car have been inflicted by the Rust Monster. Note the airbags inside the coil springs. The interior has long since been gutted, probably to live on in other, less rusty early-1950s Chrysler cars. The Windsor— and the body number makes it clear that this car did start life as a Windsor— came with a 251-cubic-inch Chrysler flathead six-cylinder engine. The New Yorker had a straight-eight flathead. V8s weren't available in Chryslers until the advent of the Hemi V8 the following year. This car may have had many engine swaps during its lifetime, but we have no way of knowing the details. Atop the rust and body filler, some lovingly applied stenciled-on flames. Someone felt proud of this car, even at the very end. Related Video: Featured Gallery Junked 1950 Chrysler Windsor in Illinois wrecking yard View 20 Photos Auto News Chrysler Automotive History Coupe 1950s