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Fiat talking with banks about buying rest of Chrysler

All that stands in the way of Fiat's total ownership of Chrysler is a 41.5-percent stake currently held by the United Auto Workers healthcare trust, but according to SFGate.com, Sergio Marchionne is currently trying to raise the capital to complete the acquisition. The article says that a deal could be completed in as soon as 12 months, and the estimate for the remaining stake could cost Fiat SpA around $2.98 billion.
With a goal of completing the deal by the end of 2014, Marchionne is said to be in talks with various banks to help finance some of the deal. According to the report, the banks have indicated a need for a stronger balance sheet, controlled debt and reserve cash.
Two things that don't seem to be on the table to get the deal completed include issuing new shares to raise the capital or selling a stake in Ferrari. Fiat started with a 20 percent share of Chrysler in June 2009, and it raised its stake up to 58.5 percent in January 2012.

Takata adds millions to recall expansion in US [UPDATE]

UPDATE: Ford spokesperson Kelli Felker has advised Autoblog that of the 1,509,535 total vehicles worldwide that the company is recalling, 966,504 of them are new additions for this expanded safety campaign. Last week, the National Highway Traffic Safety Administration announced that the Takata airbag inflator recalls would expand to an estimated 33.8 million vehicles in the US. However at the time, automakers weren't sure specifically which of their models might be affected under this enlarged campaign. Now, the numbers for BMW, FCA, Ford, and Mitsubishi are being released by the agency. Additionally, Honda is outlining the broadening of its own campaign. BMW's recall amounts to 420,661 vehicles in the US, an increase from 140,696 previously. All of the following models need their front, driver's side airbag replaced: 2002-2005 BMW 325i/325xi/330i/330xi Sedan 2002-2005 BMW 325xi/325i Sportswagon 2002-2006 BMW 330Ci/325Ci/M3 Convertible 2002-2006 BMW 325i/330i/M3 Coupe 2002-2003 BMW M5/540i/525i/530i Sedan 2002-2003 BMW 540i/525i Sportswagon 2003-2004 BMW X5 3.0i/4.4i BMW has received no reports of any injures or deaths from this problem in its vehicles. FCA has 5,224,845 vehicles globally in need of inflator replacements, according to its statement. However, the company is only aware of one injury related to the issue, which occurred in a 2006 Dodge Charger in southern Florida. There are 4,747,202 vehicles worldwide from the company that are affected on the front, driver's side. Among these, 4,066,732 are in the US, 374,508 are in Canada, and the rest are in other countries. The models are: 2005-2009 Dodge Ram 2500 Pickup 2004-2008 Dodge Ram 1500 Pickup 2006-2009 Dodge Ram 3500 Pickup 2007-2009 Dodge Ram 3500 Cab Chassis 2008-2010 Dodge Ram 4500/5500 Cab Chassis 2008-2009 Sterling 4500/5500 Cab Chassis 2004-2008 Dodge Durango 2007-2008 Chrysler Aspen 2005-2010 Chrysler 300/300C/SRT8 2005-2010 Dodge Charger/Magnum 2005-2011 Dodge Dakota 2006-2010 Mitsubishi Raider Also, there are 438,156 vehicles in the US, according to the NHTSA documents, that need their front passenger's side inflators replaced in the expansion of an earlier regional recall: 2003 Dodge Ram 1500 2003 Dodge Ram 2500 2003 Dodge Ram 3500 The total number of vehicles from Ford now covered under these campaigns stands at 1,509,535 worldwide. Of this total, there are 1,380,604 in the United States, 93,207 in Canada and 16,953 in Mexico.

‘American Auto’ fires on most cylinders

If you like cars or you enjoyed “Superstore” then “American Auto” is worth your time. NBC previewed the punchy sitcom last night ahead of the series premiere Jan. 4, and it offers a humorous take on the U.S. auto industry as seen through the team at fictional Payne Motors. Overseen by Justin Spitzer, the creator of “Superstore” and a producer on “The Office,” the two episodes that dropped Monday show Payne executives trying to navigate the challenges of the modern auto business.  “Saturday Night Live” alum Ana Gasteyer stars as a pharmaceutical exec turned Payne CEO. The cast also includes Harriet Dyer as stressed-out PR boss, Sadie; Tye White as Jack, a factory worker who gets promoted to the C-suite; and former “Superstore” cast member Jon Barinholtz as the company scion, Wesley, who has no job responsibilities and is employed because of his name. The cast also includes X Mayo, Michael Benjamin Washington and Humphrey Ker as executives. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Autoblog -- thatÂ’s us -- gets name-checked early in the second episode (2:37 into the show) for "our" critical take on GasteyerÂ’s introduction of the Payne Ponderosa, a car the company scrambled to build in time for its auto show reveal.  GasteyerÂ’s CEO character walks in on a meeting between Sadie and Jack -- their budding romance appears to be part of the story arc -- and blurts out “Autoblog says hasty HastingsÂ’ premature launch,” apparently a reference to a headline that pans the Ponderosa. Looking at the cartoonish wagon-like thing, itÂ’s well-earned criticism. Perhaps the writers know of us -- weÂ’ve been around for nearly 18 years and are read by millions each month -- or thought ‘AutoblogÂ’ sounded like a good name for a car website. Either way. The pilot is centered on the Ponderosa and its troubled development (the first version of the car ran over people). Episode 2 features a Ponderosa Magellan van being used by a serial killer in a police chase. Titled “White Van,” the episode is obviously reminiscent of O.J. SimpsonÂ’s 1994 chase in a white Ford Bronco. ThereÂ’s also some Michigan references, which help to set the scene. One character has a Wayne State degree on the wall and the Magellan flees on Interstate 94, which runs through the state.