The New Chrysler-Fiat Group
Original article posted in MotorTrend.com
To prevent liquidation, Chrysler is anticipating a pending alliance with Fiat, which would relinquish ownership by 35 percent (with no money down), propelling the alliance to the sixth-largest automaker in the world, just behind Ford Motor Company.
Chrysler “revealed” that three models would be added to its scrapheap - the Dodge Durango and Chryslers Aspen and PT Cruiser.
The Fiat 500 likely will be added to the line-up as a showroom traffic-builder for Chrysler/Dodge/Jeep dealers. Additionally, Fiat and Alfa Romeo are planned for Chrysler’s North American plants.
Chrysler also plans to:
- Cut 13 shifts, total (up one from December 2)
- Cut 3000 additional jobs
- Seek an additional $2 billion in loan guarantees, totaling $9 billion
Like it or not, the Cadillac CTS coupe, 2011 Jeep Grand Cherokee, and Chrysler 300 have made their way into the reorganization plan of the U.S. Treasury.
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