Linda Young – AHN News Writer Washington, D.C., United States (AHN) – US Treasury officials confirmed plans to sell its remaining 6 percent share of US automaker Chrysler Group LLC to Italian automaker Fiat for $500 million, which represents about 98,461 shares of stock. The sale will give Fiat a majority 52 percent share of [...]
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US Treasury announces Fiat will buy its remaining shares of Chrysler for $500m
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Comments OffVolkswagen inaugurates new plant in Chattanooga/U.S.
admin Press Release – Chattanooga, TN, United States (AHN PR) – Prof. Dr. Martin Winterkorn, Chairman of the Board of Management of Volkswagen Aktiengesellschaft, and the U.S. Secretary of Transportation Ray La Hood have today inaugurated the new Volkswagen Group plant in the United States in the presence of prominent representatives from politics, business and the [...]
Posted in Best Autos Tags: automobile, automobile plant, automobile plants, body shop paint, Chairman, chattanooga tennessee, german ambassador, group, inauguration ceremony, jonathan browning, lamar alexander, Management, martin winterkorn, percent, phone, plant, press, production, robert corker, shop, Today, use, volkswagen group Comments OffChrysler repays bail-out loans after strong sales, turnaround
admin Matthew Borghese – AHN News Contributor Detroit, MI, United States (AHN) – Chrysler Group LLC has repaid the American and Canadian loans it received after filing for Chapter 11 bankruptcy in April 2009. After being purchased by Italian carmaker Fiat and turning around lagging sales, on Tuesday Chrysler repaid $1.7 billion to Canada and $5.9 [...]
Posted in Best Autos Tags: american auto industry, american taxpayers, Bush, canadian loans, Chapter, chapter 11 bankruptcy, chrysler group, communities and families, countless communities, former, group, Industry, Investment, italian carmaker, milestone, news, percent, president, president george w bush, progress, risky investment, u s treasury, year Comments OffChrysler to repay $7.5 billion bailout loans
admin Vittorio Hernandez – AHN News Detroit, MI, United States (AHN) – Chrysler Group has apparently recovered from the slump that hit the auto industry in 2008. With the carmaker’s start of recovery, the company will repay on May 24 the $7.5 billion it borrowed from the U.S. and Canadian governments to further improve its bottom [...]
Posted in Best Autos Tags: american car, auto industry, bailout, canadian governments, car, car industry, carmaker, chrysler group, Detroit, economy business, General, government loans, group, Hernandez, interest, line, manufacturing, manufacturing firm, news, percent, restructuring, richard palmer, stake Comments OffChrysler prices debt; to repay loans on May 24 (Reuters)
admin Reuters – Chrysler Group LLC detailed terms of a bond offering and term loan on Thursday that will be used to repay high-cost government loans and put the U.S. automaker on firmer financial ground. View full post on All Stories
Chrysler Said to Prepare to Pay Back Government Loans Next Week
admin May 18 (Bloomberg) — Chrysler Group LLC plans to repay U.S. and Canadian government loans on May 24, clearing the way for Fiat SpA to increase its ownership in the U.S. automaker, two people … View full post on All Stories
Volkswagen Group sees world auto sales increase by 13.9 percent
admin Linda Young – AHN News Writer Wolfsburg, Germany (AHN) – Germany’s largest automaker, the Volkswagen Group, on Friday reported it delivered 2.66 million vehicles worldwide from January through April of this year. That marked an increase of 13.9 percent over the first four months of 2010. That meant VW outperformed the world vehicle market by [...]
Posted in Best Autos Tags: board, booming market, car, chinese manufacturer, christian klingler, economy business, group, group board, January, Linda, linda young, million vehicles, news, pacific regions, percent, result, Sales, vehicle, volkswagen, volkswagen ag, volkswagen group, world auto, year Comments OffFiat can push Chrysler stake to more than 70 percent (Reuters)
admin Reuters – Italian automaker Fiat SpA can boost its stake in Chrysler Group LLC to more than 70 percent using an array of options, including buying the U.S. Treasury’s stake. View full post on All Stories
Fiat could own 70 pct of Chrysler within the year
admin Italian automaker Fiat SpA could own more than 70 percent of Chrysler Group within a year once it repays its government loans and exercises other options, Chrysler said Monday in a filing with the U.S. Securities and Exchange Commission. View full post on All Stories
Posted in Best Autos Tags: Chrysler, chrysler group, Commission, exchange, exercises, Fiat, fiat spa, filing, government loans, group, italian automaker, Monday, pct, percent, post, securities and exchange, securities and exchange commission, SpA, Stories, View Comments OffFormer MG Rover managers barred
admin Four former senior managers of the Midlands carmaker who extracted £40m from the group before its collapse have been disqualified as company directors for up to six years View full post on All Stories
