I don't think it's dire news. Fiat brought some passion to the product, without the (IMO) condescention that the Daimler Chrysler brought. So far, so good... and it could be worse.
I still feel good about our Patriot being made in Belvedere, Il, and my JK was loving hand crafted about an hour and a half away from the house.
So far, Fait has seemingly done good things for the brand... ...and I think they are wise enough to capitalize on the American uniqueness of the marque, while positioning it globally to compete in markets worldwide.
2011 JK Sport: 6speed, ragtop, 3.73 with the lasers and the disco ball.
I agree that this is not a bad thing at all. Fiat's direction has improved the quality and design of Chrysler vehicles. It's just too bad that American management couldn't do that. Both Ford and GM changed their management and made the changes needed. Chrysler sold out.
2013 Gecko JK Rubicon, LoD bumper, Warn VR8000-S, Ace Rock Sliders, Goodyear SilentArmors, Drake grill inserts, Prolink, Smart Doors, AntennaX, Welcome grabs, Mopar Slush mats front, QT mats rear and cargo, Midland CB, Mopar locking gas cap, RR fuel door, wallet on life support.
If you don't know where you're going, you'll get there.
Forget the magnum. A Ferrari V-12 should fit. Fernando and Kimi driving wranglers, hmmmmmmmmmm.
Moab with 33" Goodyear SAs, Warn Zeon. AEV bumpers, skid plate, suspension, tire carrier, hood, pintler wheels, water tanks, procal and mud flaps/cargo mat. Grill guard and KC Apollo Pro lights. Done for now.
I don't see how this is good news. The Italians have always made sh*t vehicles, where quality is concerned. Fiat's quality is even worse than Chrysler's, as unbelievable as that may seem. There is a very good reason Fiat couldn't sell 1000 cars a year in the US and had to completely abandon the market for 30 years.
2013 JK Rubi/6-speed - Rugged Brown NRA Endowment Member - Molon Labe!
Gun Owners of America Member
Fiat just bought the rest of Chrysler for 100% stake
MILAN/DETROIT (Reuters) - Italian carmaker Fiat SpA struck a $4.35 billion deal to gain full control of Chrysler Group LLC, ending more than a year of tense talks that have obstructed Chief Executive Sergio Marchionne's efforts to combine the two automakers' resources.
The agreement, announced on Wednesday, cements Marchionne's reputation as the industry's consummate dealmaker about a decade after he took the helm of Fiat as a car business newcomer, analysts and bankers said.
But it remains to be seen whether a merger will be enough to cut Fiat's losses in Europe. Marchionne's plan to shore up Fiat depends on the ability to share technology, cash and dealer networks with Chrysler, the No. 3 U.S. automaker.
"This is an increasingly American company now, because in Europe, and especially in Italy, the business conditions remain difficult," said Andrea Giuricin, transport analyst at Milan's Bicocca University. "Fiat has already lost many of its market positions in Europe and it won't be easy to recover that."
Fiat will acquire the 41.46 percent stake in Chrysler it did not already own from a retiree healthcare trust affiliated with the United Auto Workers union. The trust, known as a voluntary employee beneficiary association or VEBA, will receive $3.65 billion in cash for the stake, $1.9 billion of which will come from Chrysler and $1.75 billion from Fiat. After the deal closes, Chrysler has committed to giving the UAW trust another $700 million over three years.
The deal is expected to close on or before Jan 20. Fiat said that because of how the deal is structured it will not need to make any capital increase through a rights issue.
The VEBA's payout is less rich than some analysts expected. The sale of the UAW trust's stake values the No. 3 U.S. automaker at less than $9 billion. When factoring in the additional $700 million, Chrysler is worth $10.5 billion.
"We thought they were going to have to pay a lot more than that," a London-based analyst at a major investment bank said. "The market's going to love this - Marchionne's done it again. He's brought in a deal that looks like a cracking one on the face of it and he doesn't need to do a capital increase."
Marchionne, who has run both automakers since Chrysler's 2009 U.S. government-funded bankruptcy restructuring, aims to merge Fiat and Chrysler into the world's seventh-largest auto group.
But he has been at odds over the U.S. automaker's worth with the trust, which was pushing for a payout of more than $5 billion. In September, the trust exercised an option enshrined in bankruptcy documents to force Chrysler to file for an initial public offering.
Wednesday's deal will allow Chrysler to avoid an IPO.
In a statement, Marchionne called the buyout a defining moment for the two companies.
"The unified ownership structure will now allow us to fully execute our vision of creating a global automaker," he said.
The Chrysler buyout talks have been closely watched by debt and equity investors as Fiat's long-term plan to cut losses in Europe depends on its ability to deepen ties with Chrysler.
Chrysler is now a profit center for Fiat, but the two companies currently are forced to manage their finances separately. A full merger will make it easier - but not automatic - to combine the cash pools of the two companies, giving Fiat more funds to expand its product lineup.
The UAW trust was created in 2007 as a way for General Motors Co, Ford Motor Co and Chrysler to offload their obligations to pay retiree healthcare benefits.
Medical benefits for GM, Ford and Chrysler retirees are handled in separate accounts and each account was initially to be funded with cash. But during the 2009 financial crisis, the VEBA agreed to accept stakes in GM and Chrysler in lieu of cash.
It's amusing how people look at change. Some fear it based on nothing other than their personal opinion. Yet Others look at change as an opportunity for growth, improvement as well as personal and financial gain.
__________________ The Wolf is not concerned with the opinion of sheep.
Fiat has alread had a majority stake since 2009. Relax. The company's overall problems are more with Fiat than with Chrysler. Jeep is the golden goose and they won't mess with it. Dodge is doing better recently. It's Fiat and Europe sales that are lagging most.