Fiat Finalizes Chrysler Acquisition
Fiat finalized its acquisition of Chrysler Group from the UAW's trust today, as it moves to create a global automaker to compete with General Motors and Ford, the company announced.
Fiat North America finalized its acquisition of the Chrysler Group from the UAW's trust today, as it moves to create a global automaker to compete with General Motors and Ford, the company announced.
The deal closed Tuesday with Chrysler paying out a special distribution of $1.9 billion to the VEBA Trust and paying out $1.75 billion from Chrysler cash-on-hand. The two parties also entered into an agreement in which Chrysler will make four additional payments equaling $700 million per year. The first of those payments, of $175 million, came as part of the finalized deal, a Fiat spokesman told Automotive Fleet.
Fiat and Chrysler announced the deal on Jan. 2 with Sergio Marchionne, Fiat's CEO and Chrysler's chairman and CEO, saying it would help him "fully execute our vision of creating a global automaker."
More Operations
Top 50 Executive Fleets
It is that time of year again! Time for the 2026 list of the Top 50 Executive Fleets, presented by Automotive Fleet and Volvo as part of its annual Fleet 500. Download now to see this year's list of companies!
Read More →
Gary Van Orden Retires After Nearly Four Decades in Commercial Fleet
From answering customer calls at Ford Motor Company to leading fleet sales across multiple OEMs and a fleet management company, Gary Van Orden's career reflects nearly four decades of leadership in commercial fleet.
Read More →
How Stellantis Plans to Get Ahead of Fleet Downtime
Vehicle acquisition may grab the headlines, but fleet uptime increasingly determines operating success. Darren Bradshaw of Mopar North America gives the details.
Read More →
Hyundai Releases 2027 Commercial Program Incentives
The 2027 Model Year "Fleet Street Incentives" are available to commercial and government fleets.
Read More →
It's All Downhill from Here! Fleet Industry Raises $22,000 for Skilled Trades Scholarships
Work Truck’s Lauren Fletcher and Automotive Fleet’s Chris Brown turned a friendly racing rivalry into $22,000 for automotive technology and skilled trades scholarships.
Read More →
The Top 300 Commercial Fleets
The Top 300 Commercial Fleets: See the List
Read More →
Your Local Dealer Knows More Than You Think
Your local dealer can provide an information advantage that extends well beyond courtesy deliveries.
Read More →
Fleet Meets: Austin Schutte
Here are some industry insights, personal touches, and words of advice from the CEO and Founder of Anew Solutions.
Read More →
Soap Box Derby Challenge: What’s Powering Team Brown
The car is coming together, the students are solving real build problems, and the fleet industry is helping push Team Brown toward the starting line.
Read More →