Fiat will increase stake in Chrysler to 58.5% by end of this year

Posted: Sep 20, 2011
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Fiat SpA said that it expects to increase its stake in Chrysler to 58.5 percent by the end of 2011 as it achieves a preset performance target.Fiat currently owns 53.5 percent of the Chrysler Group LLC. The final test will be the production of a Fiat-based compact car that can achieve 40 mpg.

Fiat and Chrysler CEO Sergio Marchionne reiterated his taget of selling 6 million vehicles by 2014.

Marchionne said that the group had enough liquidity to help it weather the financial crisis.

- By: Omar Rana

Source: Automotive news


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