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Fiat stock rockets up after word of Chrysler deal

Now that Fiat has finalized a deal to purchase the outstanding shares of Chrysler owned by the United Auto Workers' VEBA retiree heathcare fund without having to file for an IPO, you can count the Italian automaker's stockholders among the happy. The Detroit News reports that Fiat stock closed Thursday with a 12-percent gain for the day on the Borsa Italiana, having been up by as much as 15.8 percent during the day's trading, at prices not seen since mid-2011. One trader reasoned the run was because Fiat "paid less than the market had expected and there will be no capital increase to fund this."
But there are some who worry, including bank analysts and unions. The final price of the stake will be $4.35 billion - $1.9 billion in cash from Chrysler, $1.75 billion from Fiat and extraordinary dividends in the amount of $700 million paid over three years. Adding that sum to its ledger will raise Fiat's debt level to roughly 10 billion euros ($13.8 billion), which Citibank says will make it the most indebted OEM in Europe.
Italian unions are also concerned about what the deal means for the future. Fiat CEO Sergio Marchionne has had an at-times contentious relationship with both unions and the Italian government over the future of Italian manufacturing, a fact that makes headlines because Fiat is Italy's largest private employer. At least two left-leaning unions have publicly called on Fiat to give guarantees and to explain what the deal means for its Italian operations, while a centrist union argues this is "good news for Fiat workers, for the auto industry and for our country."

2020 Chrysler 300 gets new colors, a new package, and new prices

Although the Chrysler 300 is doing a pretty good impression of a listless, drifting ghost ship, there are product planners at the helm, and they have giveth and taken away for the 2020 model year. As with the last time we got news about the 300, some of this comes from Mopar Insiders instead of Fiat Chrysler, and it appears the Chrysler build site hasn't caught up to everything yet. Perhaps most important to prospective buyers, which is reflected on the build page, prices have risen anywhere from $50 to $370 across the lineup. The 2020 prices and the changes compared to 2019 are: Touring RWD, $29,590 (+$120) Touring AWD, $32,340 (+$370) Touring L RWD, $33,115 (Unchanged) Touring L AWD, $35,865 (+$250) S RWD, $36,695 (+$50) Limited RWD, $38,595 (+$100) S AWD, $39,445 (+$300) Limited AWD, $41,345 (+$350) C RWD, $41,995 (+$50) The Sport Appearance Package on the Touring trim needs a little more money, too, going from $1,295 to $1,495. The package puts on a 300S grille with a black chrome surround, gloss black window surrounds, black headlight bezels, black LED taillights, bright chrome wing badges with black inserts, and 20-inch Black Noise wheels on the RWD model, 19-inchers on the AWD. From last year's palette of eight colors, two are no more: Maximum Steel and Ceramic Grey. Frostbite, a popular white offered on the Dodge Challenger and Charger, has been added to the 300's choices. New hues Amethyst and Canyon Sunset will be added but are late availability. Inside, Black/Linen and Mocha interior colors increase the choice. The $475 Interior Appearance Group that brought features like bright pedals and premium floor mats has been done away with, too. The build site doesn't show the Red S Appearance Package for the 300S trim, but it's a thing. The option includes Black Noise exterior badging with red inserts on the wing badge, a red "S" badge on the decklid, and 20-inch Black Noise wheels on the RWD model. It can be paired with a new Radar Red interior which is also nowhere to be found on the configurator. The Red S Appearance Package can be paired with any exterior color except Frostbite, and costs $295.

Stellantis — seriously? Exploring the pros and cons of Chrysler’s new name

I took Wednesday off. I came in Thursday and Chrysler was renamed Stellantis. Aside from lighting Twitter on fire and drawing a lot of snarky responses from car journalists, the name is actually decent. Let’s look at it from a few angles. For starters, Chrysler, the 95-year-old automaker founded in Detroit by Walter P. Chrysler (his name still adorns everything from a major freeway in Michigan to an iconic art deco skyscraper in New York), isnÂ’t actually Chrysler. ItÂ’s FCA, which stands for Fiat Chrysler Automobiles. The name change actually happened in 2014, which you might have easily missed. The American unit, formerly Chrysler, is known as FCA US in some legal matters, but does not operate independently.   The Stellantis name takes effect in 2021. HereÂ’s why itÂ’s needed: Fiat Chrysler is merging with Group PSA. (Peugeot and Citroen) to form a transatlantic alliance that will be larger than even Ford. Stellantis sounds a lot better than FCA-PSA. Or PSA-FCA. You might poke fun at it, but it beats the alternatives. Or at least it could be worse. Stellantis is the name for the corporate entity that will house Chrysler, Fiat, Peugeot, Citroen, and oh by the way, Opel and Vauxhall, which PSA bought in 2017 when GM unloaded its European arm.  Your Jeep will not say Stellantis on the fender. Your Hemi Hellcat wonÂ’t say “powered by Stellantis” under the hood. Your Fiat 500 or Alfa Romeo Giulia will not have a script “Stellantis" crest. Speaking of that, roll call: HereÂ’s all of the brands that will be housed under the Stellantis umbrella: Chrysler, Dodge, Jeep, Fiat, Fiat Professional, Mopar, Alfa Romeo, Maserati, Abarth, Ram, Lancia, Peugeot, Citroen, DS, Opel and Vauxhall. ThereÂ’s also a couple of lesser-known subsidiaries, Comau and Teksid, that sell parts. ThatÂ’s 18 brands. They have origins in Detroit, Paris, Turin, Chalton (England), Russelsheim (Germany) and several other places. All of these carmakers have deep histories. No one was going to agree on using someone elseÂ’s name. You might notice Chrysler is still in there. Chrysler as the brandname for the 300 sedan and Pacifica minivan lives on. Stellantis replaces FCA, which replaced Chrysler, as the name of the parent company. Yes, it's a little confusing. HereÂ’s more perspective. Chrysler was once owned by Cerberus, a three-headed dog that guards the gates of hell, according to mythology.