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PHH Corp. increased revenue from its PHH Arval fleet management division by 1.14 percent in 2013 and is considering splitting off the fleet division as a separate company.
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The Board of Directors of Fiat S.p.A. has approved a corporate reorganization following its merger with Chrysler Group that includes the formation of corporate parent Fiat Chrysler Automobiles.
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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.
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Fiat North America has bought out the UAW trust's stake in the Chrysler Group, positioning it as a global automaker with the resources to take on General Motors.
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Controlling interest in Avis, Inc., the nation's second largest car rental firm, has been bought by Lazard Freres and Co., New York investment bankers.
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