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Chrysler files for IPO

Chrysler has had a lot of owners over the past few years alone, from Daimler to Cerberus to Fiat and the federal government. But it could be poised to gain some more before long. Like, a lot more.
The automaker has just announced that it has filed with the US Securities and Exchange Commission to issue an Initial Public Offering of common stocks. Chrysler hasn't revealed how many shares will be offered and at what price, however the shares in question will not come out of Fiat's approximate 60% majority shareholding but instead out of the 40% minority stock held by the UAW's VEBA retiree healthcare trust. Reports suggest that the IPO, which is being handled by JP Morgan, could encompass approximately 16% of Chrysler stock, initially valued at approximately $100 million.
Lest you think this is all part of Sergio Marchionne's grand plan to consolidate Chrysler and Fiat, the two auto groups over which he presides, think again. The filing, which still needs to be approved by the SEC, comes at the insistence of the UAW. Negotiations between Marchionne's management team and the union over Fiat's acquisition of the VEBA shares have stalled. If they manage to come to an agreement, however, the IPO would likely be taken off the table. So don't go calling your broker just yet, but you can analyze the official announcement below.

2022 Chrysler Pacifica Hybrid loses base Touring trim, starts at $48,255

The Chrysler Voyager is going fleet-only for 2022 while the standard 2022 Pacifica picked up some price hikes and some gains and losses in the equipment department. Time to dish on the 2022 Pacifica Hybrid, which, unsurprisingly, follows the majority of the non-hybrid Pacifica template. Mopar Insiders got info on pricing for the revisions Chrysler made to the lineup. The most important change to the overall Pacifica range, according to MI, is that model and option rationalization leaves just 53 combinations instead of the previous 3,550. That's way more than the Honda Odyssey at just seven permutations, but well behind the Toyota Sienna that has 206. The 3.6-liter Pentastar V6 and its eFlite variable transmission don't change, nor does the inability to spec all-wheel drive. What does get added are the new rear-seat reminder and Clean Air Filtration system that Stellantis is sprinkling throughout all its models. That filtration unit captures 95% of particulates in the air including bacteria, allergens, and pollen. The color palette goes the same way as on the non-hybrid Pacifica, dropping from 10 free colors to seven with just three free. Only Bright White, Brilliant Black, and Ceramic Grey will be no charge. Granite Crystal and the new Silver Mist, which replaces Billet Silver, will cost $95. Fathom Blue and Velvet Red will cost $395.   Product planners pulled the AWD option on the non-hybrid Pacifica Touring. For the hybrid, the Touring trim gets pulled completely, and in fact, it's already happened for the end of 2021. That makes the Touring L the new base model, and it makes this year's optional $995 Safety Sphere Group standard equipment for next year. That installs features like ParkSense for front, parallel, and perpendicular parking, and a 360-degree surround view camera. Conversely, the roof rack and side sunshades won't come as standard equipment anymore. MI says next year's MSRP will be $48,255 after the $1,495 destination charge. Comparing that price to the MSRP on Chrysler's 2021 configurator, next year's van will bring a $1,840 increase over 2021.  Next year's Limited trim will add the $1,895 Premium and Safety Sphere Group as standard equipment. The package adds the parking aids from above as well as a 19-speaker Harman Kardon audio system with a 760-watt amplifier. There's a change up top, though, this trim giving up its three-pane sunroof for a dual-pane sunroof, as well as shedding the side sunshades.

Jay Leno parades around in '52 Chrysler Imperial

Jay Leno is not known as a quiet man. He's a comic, after all. So how do you think it'll go when he's given an enormous, Chrysler Imperial parade car, complete with two meaty public-address speakers on the front bumper? Exactly. In an amusing start to the latest episode of Jay Leno's Garage, we see the eponymous star of the web series addressing the citizens of Burbank, CA from the big, comfy seat of a 1952 Chrysler Imperial Dual-Cowl Phaeton. One of just three produced by Chrysler at a price of about $33,000 a pop – a whopping $296,000 in today's dollars – this particular example is owned and still used by the city of Los Angeles. Its most famous passengers include President Dwight D. Eisenhower and then-Vice President Richard Nixon. Underhood, there's a 331-cubic-inch Hemi V8 that's been mated to a two-speed PowerFlite automatic. As for the exterior, while it may look like a 1956 Imperial, it did originally roll out of the factory in 1952. According to the LA city officials that accompanied the car, Chrysler called the three sedans back in 1955 and refitted them to fit in with the latest Imperial models. At 21.5 feet long, even in today's world of big pickups and SUVs, this particular example occupies a big space on the road. Surprisingly, it's still driven regularly, taking part in parades and celebrations across the City of Angels. You can check it out both in Jay's garage and on the streets of Los Angeles in the video above.