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Fiat Gains Full Control of Chrysler in $4.35 Billion Deal – Bloomberg

Related Did Marchionne Get What He Wanted With Fiat Deal? Fiat’s Hotter, Flirtier 500 Abarth Arrives in U.S. Here’s Why Fiat Wins Big in $4.35B Chrysler Deal Fiat SpA (F) secured full ownership of Chrysler Group LLC in a $4.35 billion agreement that will conserve the Italian company’s cash while creating a global carmaker with better scale to take on General Motors Co. (GM) Fiat rose the most in almost…

Posted: Thursday, January 02, 2014

Forget headlights! Audi Sport Quattro Laserlight Concept to light up CES with … – New York Daily News

Headlights are so 2013! German car company Audi is prepared to debut its latest concept car, the Sport Quattro Laserlight, the upcoming International Consumer Electronics Show in Las Vegas. RELATED: AUDI SPORT QUATTRO CONCEPT SIGNALS THE RETURN OF A LEGEND As such, it will be the second year running that Audi has chosen the International CES, rather than a traditional auto show, to showcase its latest technological breakthrough. In 2013,…

Posted: Thursday, January 02, 2014

An Auto Maker’s New Tack in India: Starting from Scratch – New Yorker (blog)

“We have banned internally de-contenting,” Marc Nassif, the chief executive of Renault India, told me. “It’s not about reducing value but about putting value where it’s needed.” The factory will produce a new range of cheap, entry-level cars targeted at first-time buyers in India and other emerging countries, who are graduating to automobiles from two-wheelers. The cars, which are being designed locally and will compete with low-cost models marketed by…

Posted: Thursday, January 02, 2014

Fiat shares jump on Chrysler merger deal – Reuters

MILAN (Reuters) – Fiat’s $4.35 billion deal to gain full control of Chrysler Group LLC sent its shares to a near 2-1/2-year high on Thursday, despite doubts over whether the Italian carmaker could use the merger to cut losses in Europe. Investors welcomed the deal struck by Chief Executive Sergio Marchionne, under which Fiat will buy the 41.46 percent of the No. 3 U.S. automaker it does not already own,…

Posted: Thursday, January 02, 2014

Carmakers add luxury features to low-priced cars in a bid to push sales – Economic Times

MUMBAI: The Indian customer today is spoilt for choice as carmakers keep raising the bar on convenience, luxury and safety as they seek to revive the flagging market. Features once found only in the luxury segment are making their way into the affordable end of the market without much of an increase in prices. Over the last three-to-five years, cars have become costlier by 5-10 per cent but the level…

Posted: Thursday, January 02, 2014

Fiat strikes $4.35 billion deal to buy rest of Chrysler – Reuters

MILAN (Reuters) – Fiat shares jumped on Thursday after it struck a $4.35 billion deal to gain full control of Chrysler Group LLC, but doubts remained over whether the Italian carmaker can use the merger to cut losses in Europe. Investors welcomed the deal struck by Chief Executive Sergio Marchionne under which Fiat will buy the 41.46 percent of the No. 3 U.S. automaker it does not already own, without…

Posted: Thursday, January 02, 2014

Fiat, in Deal With Union, Will Buy Rest of Chrysler – New York Times

Fiat said on Wednesday that it had reached an agreement to take full ownership of Chrysler in a $4.35 billion deal with the United Automobile Workers retiree health care fund. Fiat and the U.A.W. trust have shared ownership since Chrysler emerged from bankruptcy in 2009. The deal to buy out the trust’s 41 percent stake will make Fiat the world’s seventh-largest automaker. “The unified ownership structure will now allow us…

Posted: Thursday, January 02, 2014

9% Of Cars To Be Driverless Cars By 2035 – Forbes

So says the consultancy IHS IHS Automotive and I have to say that I think that’s a gross underestimate: or possibly a gross overestimate. Yes, I know, but I do think that it will either be a thoroughly commonplace product by then or we’ll still be struggling to make it work. Here’s what IHS Automotive says: Sales of vehicles able to drive themselves will account for 9pc of global auto…

Posted: Thursday, January 02, 2014

Fiat buys rest of Chrysler from UAW; no IPO – USA TODAY

Dodge Dart compact sedan is based on a Fiat Alfa-Romeo model. It has helped Dodge parent Chrysler Group attract more buyers.(Photo: Dodge) Story Highlights Fiat-UAW settle price on union’s Chrysler stake, avoiding IPO Fiat North America is paying the union’s retirement trust $4.35 billion for the remaining 41.46% of Chrysler Fiat/Chrysler CEO Marchionne now can merge Chrysler, Fiat Fiat, owner of Chrysler Group, has agreed to buy the United Auto…

Posted: Thursday, January 02, 2014

Fiat reaches deal with UAW trust to buy rest of Chrysler – Reuters

MILAN/DETROIT (Reuters) – Italian carmaker Fiat SpA said on Wednesday it has signed an agreement to buy the stake in U.S. automaker Chrysler Group LLC it does not already own, ending months of tense negotiations and allowing Chief Executive Sergio Marchionne to pursue his goal of creating the world’s seventh-largest auto group. Fiat will acquire the 41.46 percent stake in Chrysler from a retiree healthcare trust affiliated with the United…

Posted: Wednesday, January 01, 2014

Ford’s aluminum F-150 about to bow in Detroit – CNBC.com

While most major automakers have already dropped broad hints about what they’ll reveal at the Detroit auto show this month, Ford has been unusually quiet about its unveiling at the annual show. It is likely to be big: an all-new version of the maker’s best-selling truck, the F-150. The update is not just a restyled pickup with a few more features, either. The 2015 Ford F-Series should mark a dramatic…

Posted: Wednesday, January 01, 2014

Is General Motors thinking of buying Tesla? Financial analyst says ‘yes’ – Digital Trends

Questions have surrounded Tesla since it emerged. As an outsider in the world of established automakers, there has always been doubt about how long Tesla would last. Tesla has answered many of its critics questions with amazing products and a stellar track record. But now a new question has merged: Will GM purchase Tesla? Financial analyst Yra Harris of Praxis believes GM is on track to do purchase Tesla in…

Posted: Wednesday, January 01, 2014

The 2014 Chevrolet SS Really Drives Like A Four-Door Corvette, And Here’s Why – Forbes

An “SS” badge, short for “Super Sport,” has adorned high-performance versions of Chevys for decades. But with this new rear-wheel-drive sedan, SS is a standalone name. (Credit: Matthew de Paula) The 2014 Chevrolet SS has been a long time coming—nearly two decades, in fact. It is the first rear-wheel-drive sedan powered by a V8 engine that Chevy has offered since it discontinued the Impala in 1996, which was antiquated even…

Posted: Wednesday, January 01, 2014

San Diego International Auto Show kicks off today – 10News

SAN DIEGO – More than 400 new models will be on display when the San Diego International Auto Show opens Wednesday for a five-day run at the San Diego Convention Center. It is the first of what is expected to be a banner year of events for the convention center. Steven Johnson, who is with the center said for the 70 planned conventions, the predicted economic impact for 2014 is…

Posted: Wednesday, January 01, 2014

Is General Motors thinking of buying Tesla? Financial analyst says ‘yes’ – Digital Trends

Questions have surrounded Tesla since it emerged. As an outsider in the world of established automakers, there has always been doubt about how long Tesla would last. Tesla has answered many of its critics questions with amazing products and a stellar track record. But now a new question has merged: Will GM purchase Tesla? Financial analyst Yra Harris of Praxis believes GM is on track to do purchase Tesla in…

Posted: Wednesday, January 01, 2014

The 2014 Chevrolet SS Really Drives Like A Four-Door Corvette, And Here’s Why – Forbes

An “SS” badge, short for “Super Sport,” has adorned high-performance versions of Chevys for decades. But with this new rear-wheel-drive sedan, SS is a standalone name. (Credit: Matthew de Paula) The 2014 Chevrolet SS has been a long time coming—nearly two decades, in fact. It is the first rear-wheel-drive sedan powered by a V8 engine that Chevrolet has offered since it discontinued the Impala in 1996, which was antiquated even…

Posted: Wednesday, January 01, 2014

Ford’s aluminum F-150 about to bow in Detroit – CNBC.com

While most major automakers have already dropped broad hints about what they’ll reveal at the Detroit auto show this month, Ford has been unusually quiet about its unveiling at the annual show. It is likely to be big: an all-new version of the maker’s best-selling truck, the F-150. The update is not just a restyled pickup with a few more features, either. The 2015 Ford F-Series should mark a dramatic…

Posted: Wednesday, January 01, 2014

The Henry Ford Paradigm – National Review Online (blog)

Meeting with his board of directors on January 1, 1914, Henry Ford didn’t just ring in the New Year: He laid the economic foundation of the American century. Daring to more than double his workers’ wages to the then-unheard-of rate of $5 per eight-hour day, the underestimated engineer freed a bullish America from the bearish Malthusian theory that low wages for the masses were the natural order. No doubt, Ford…

Posted: Wednesday, January 01, 2014

Feds May Require Cars to Talk to Each Other to Avoid Crashes – ABC News

Federal officials will decided in the “coming weeks” whether to require new cars to include smart technology that would alert drivers of a coming crash, even in vehicles that are two or three cars away. The vehicle-to-vehicle — or V2V — technology has undergone testing in recent years and has already been installed in some cars that are on the road. A recent study by the Government Accountability Office determined…

Posted: Wednesday, January 01, 2014

The 2014 Chevrolet SS Really Drives Like A Four-Door Corvette, And Here’s Why – Forbes

An “SS” badge, short for “Super Sport,” has adorned high-performance versions of Chevys for decades. But with this new rear-wheel-drive sedan, SS is a standalone name. (Credit: Matthew de Paula) The 2014 Chevrolet SS has been a long time coming—nearly two decades, in fact. It is the first rear-wheel-drive sedan powered by a V8 engine that Chevrolet has offered since it discontinued the Impala in 1996, which was antiquated even…

Posted: Wednesday, January 01, 2014