MILAN (Reuters) -- Fiat S.p.A. expects to raise its stake in Chrysler Group to 58.5 percent by the end of this year after it achieves a preset performance target, the company said. Fiat currently owns 53.5 percent of the U.S. carmaker.
The final test is the development of a Fiat-based car that can get 40 miles per gallon.
The group, which reiterated its critical mass target of around 6 million vehicles by 2014, confirmed its 2011 group guidance which includes revenues in excess of 58 billion euros ($79.5 billion) and liquidity of around 18 billion euros.
On Monday, Sergio Marchionne, who is CEO of both Fiat and Chrysler, said the group had enough liquidity to help it weather the financial crisis.
Like other industrial heavyweights, Fiat has been hit by worries that a global economic slowdown would hurt its revenues.
Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20110920/COPY01/309209917/1400#ixzz1Yo0Y5a8X
Friday, September 23, 2011
Friday, September 9, 2011
Video: CNN test drives the Fiat 500 at the Consumer Reports’ test track
Consumer Reports just published a road test of the tiny, retro-styled Fiat 500--the first vehicle from Fiat to be sold in America for decades. CNN’s Ali Velshi recently visited our Auto Test Center to take the 500 for a spin around our 327-acre facility and discuss our findings with Senior Director David Champion.
Besides its eye-catching looks, fun-to-drive handling and compact car fuel economy, the 500 loses some of its appeal with a choppy ride, noisy cabin, and tight rear seats. Even with these compromises, the 500 won many drivers over with its playful personality.
Champion goes into more detail on the ride and our review on the 500 with Velshi. Check out the CNN video clip below. For the full take, see our complete Fiat 500 road test and video.
Read More: http://news.consumerreports.org/cars/2011/09/video-cnn-test-drives-the-fiat-500-at-the-consumer-reports-test-track.html
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