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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.

New 2019 Fiat 500X bows with standard AWD, 1.3-liter turbo four

Fiat is unveiling the U.S. version of the new 2019 500X all-wheel-drive subcompact crossover this week in Los Angeles, and it deviates slightly from the European refresh version we previewed in August and its U.S. predecessor, with a new engine and standard all-wheel drive. Instead of the three gasoline engines on offer across the pond or the two stateside, U.S. consumers will get a standard 1.3-liter, direct-injection turbocharged engine that produces 177 horsepower and a best-in-class 210 pound-feet of torque. Those are higher output figures than either the comparable European 1.3-liter or the 1.4-liter, and they compare with the 180 hp and 175 lb-ft offered by the outgoing 2.4-liter Tigershark engine. The new four-cylinder is fitted with stop-start technology and the third generation of FCA's MultiAir valve-actuation technology, which controls intake-valve timing and opening to recycle exhaust gas to offer improved power and fuel efficiency. Also reflecting American trends — and don't let the gear shifter knob fool you — there's no manual transmission on offer, with power instead mated to a nine-speed fully electronic automatic transmission. Three driving modes are on offer: a baseline Auto, performance-oriented Sport, and Traction +, which maximizes low-speed traction. Looks-wise, the basics are the same, with sharper creases, new LED head- and taillights, and redesigned front and rear fascias. The U.S. version continues the plastic body cladding defining the grille surround, a shape echoed at the rear. There are three wheel options — 17-inch silver aluminum for the Trekking model, 17-inch matte black machined wheels for the Treeking Plus, and 18-inch matte anthracite machined aluminum for Trekking and Trekking Plus (Pop is the entry-level trim). There are also three new exterior colors: Italia blue, green and ivory. Fiat designers refreshed the cockpit with new seat fabrics, a new instrument cluster and a new steering wheel with mounted radio controls. It comes with standard Connect 4 with a 7-inch touchscreen radio with Apple CarPlay and Android Auto and Bluetooth features. Safety features include blind-spot monitoring, rear cross path detection and a rear backup camera with dynamic grid lines. Adaptive cruise control is offered as an option. The 500X will start at $25,785 including destination when it goes on sale next spring. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences.

Fiat Chrysler, GM are trying 7-year 0% loans, online buying to lift plunging sales

With auto showrooms shut during the coronavirus pandemic, Fiat Chrysler and General Motors moved to reboot demand with seven-year, no-interest loans and programs allowing customers to buy vehicles online. Fiat Chrysler Automobiles' new "Drive Forward" marketing program includes online shopping tools that will for the first time allow U.S. customers to complete the purchase of a vehicle through an FCA dealer without setting foot in a dealership, a company spokesman said. The move toward online sales and home delivery breaks with a long U.S. auto sector tradition of manufacturers giving franchised dealers control of sales to consumers. Dealers have fought Tesla 's efforts to sell vehicles directly to consumers through its website. GM and Fiat Chrysler's promotions of extended, no-interest loans — made less costly by the Federal Reserve's recent interest rate cuts — echo the "Keep America Rolling" sales push GM launched to jump start a paralyzed consumer market after the Sept. 11, 2001, attacks. But the pandemic has been pulling auto retailing into the digital age, with dealerships shuttered across the country and sales likely to take a further beating in April as social distancing guidelines remain in place.   Related: Auto sales drop in March as coronavirus hits demand, output   FCA shares were down 4.9% to $6.84 in afternoon trading in New York after the company posted a 10% drop in first-quarter U.S. auto sales, as the pandemic hurt demand and halted production from mid-March. The company, however, did not break out sales by month. General Motors reported its first-quarter sales fell 7% because of significant declines in March, and said customers can use its existing "Shop.Click.Drive." program to find, purchase and arrange for home delivery of a vehicle. A GM spokeswoman said across the Chevrolet, Buick, GMC and Cadillac brands the automaker has seen two to four times greater online site visits and sales leads than before the pandemic. Hyundai said earlier that its U.S. sales fell 43% in March due to the pandemic. "It goes without saying that the entire world is facing a tremendous challenge that is having a significant impact on business and our normal way of life," Randy Parker, vice president for sales at Hyundai Motor America, said in a statement. Toyota said its sales were down nearly 37% in March and 8.8% for the quarter. Nissan reported a 27% drop in first-quarter sales.