Fiat Completes Purchase of Chrysler from U.S. and Canadian Governments, US Taxpayers Lose $1.3 Billion

The Fiat Group today purchased the remaining Chrysler LLC shares held by the U.S. and Canadian governments. The Italian company acquired a 1.5% fully diluted stake in Chrysler Group LLC from Canada for US$125 million, and a 6% stake from the United States Department of the Treasury for a price of US$ 500 million.
After acquiring the shares in the two separate deals, the Fiat Group now controls a 53.5% fully diluted equity interest in Chrysler LLC.
Upon the completion of the deal, U.S. Assistant Secretary for Financial Stability Tim Massad released this statement:
“With today's closing, the US government has exited its investment in Chrysler at least six years earlier than expected. This is a major accomplishment and further evidence of the success of the Administration’s actions to assist the US auto industry, which helped save a million jobs during the worst economic crisis since the Great Depression.”
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Double Standards, or how (Not) to Sell Cars to Women

In the 1950s, products for women were no doubt designed and marketed by men. Take for example the 1955 Dodge Le Femme, a truly absurd car (by today’s standards) that came with a matching purse, raincoat and umbrella as well as a bright pint interior with rose-patterned trim.
It’s the equivalent of offering a car today with a…tampon dispenser in the glovebox.
Across the pond there was the Daimler 104 Ladies’ Model with electric windows, a simplified gear change (no, I did not make that up), an umbrella and a vanity case under the dashboard.
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D'oh! Ferrari 458 Italia Driver Starts Drag Race with Dodge Viper in…Reverse!

Before you watch the following video, take a minute to ponder this: You are sitting behind the steering wheel of an exotic, brand new Italian supercar, getting ready to drag race a V10-powered Dodge Viper on the quarter mile strip in front of a crowd of 100, or perhaps even more people. But when the race begins you start rolling backwards…
Oh yes, that’s right; the owner of the Ferrari 458 Italia that you’re about to see in the clip and who was pitted against a Dodge Viper at the ICAR motorsports complex situated just outside of Montreal in Canada, paddle shifted his car’s dual clutch auto transmission into reverse!
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Chrysler Announces Prices on New 2012 SRT8 Models Including the 300, Charger, Grand Cherokee and Challenger

The Chrysler Group’s newly formed Street and Racing Technology (SRT) brand has released pricing on its latest crop of models, which include the 2012 Chrysler 300 SRT8, the 2012 Dodge Charger SRT8, the 2012 Dodge Challenger SRT8 392 and the 2012 Jeep Grand Cherokee SRT8.
Prices together with an $825 destination fee start at $47,995 for the Chrysler 300 SRT8, $46,660 for the Dodge Charger SRT8, $44,077 for the Challenger SRT8 and $55,295 for the Jeep Grand Cherokee SRT8.
All four SRT8 models are powered by the Chrysler Group’s new 6.4-liter HEMI V8 with Fuel Saver Technology that cranks out 470 horsepower (351kW) and 470 lb-ft (637Nm) of peak torque (465 lb.-ft. / 630 Nm in the Grand Cherokee SRT8).
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Report: New Alfa Romeo-Derived / U.S. Made Dodge Compact Sedan to Debut at 2012 Detroit Show

A new U.S. market compact sedan to be developed by Fiat and built by Chrysler is set to make its debut appearance at the 2012 North American International Auto Show in Detroit in the beginning of next year, according to a report from the Wall Street Journal.
The as-of-yet unnamed model will be badged as Dodge and powered by a Fiat-derived 1.4-liter turbocharged gasoline engine. It’ll also do 40 mpg combined, or at least it will if Fiat wants to net itself a further 5% of Chrysler from Mr. Monopoly Uncle Sam.
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Ford and Dodge Flop, Lexus and Honda Top JD Power’s 2011 U.S. Initial Quality Study

The results are in for JD Power’s latest 2011 U.S. Initial Quality study that looks at the first 90 days of ownership and the news is not good for Ford Motor Company. The Dearborn-based company tumbled from fifth place and highest-ranking non-luxury automaker last year to 23rd in 2011 with 116 problems per 100 vehicles. Analysts claim that Ford’s freefall is due to complaints related to the company’s onboard MyFord Touch infotainment systems.
Even worse, Dodge was placed last in the list with 137 problems per 100 cars. Scion, MINI, Volkswagen, Mitsubishi and Suzuki didn’t fare well either occupying the last places in the study.
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Multiple 2011MY Chrysler, Dodge and Jeep Vehicles Recalled to Fix Steering Columns

A dozen vehicles from the three core Chrysler brands covering more than half of the company’s 2011 models are being recalled in the United States to fix a potential problem with the steering column.
The recall covers 11,351 vehicles and affects certain 2011 model year Dodge Journey crossovers, Jeep Wranglers, Chrysler 200s, Chrysler 200 Convertibles, Dodge Avengers, Dodge Nitros, Jeep Liberty SUVs, Dodge Calibers, Jeep Compass crossovers, Jeep Patriots, Dodge Grand Caravans and Chrysler Town & Country minivans.
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