Chrysler Will Make an Operating Profit
Published Monday, 02 August, 2010 by Blog Admin. Categories: News.
Fiat and Chrysler CEO Sergio Marchionne said the automaker earned an "operating profit" in the second quarter, while Fiat reported it earned $146 million in the April through June quarter. Chrysler will release the official second-quarter results on Aug. 9.
During this past quarter, Fiat, which owns 20% of Chrysler, began distributing Chrysler, Jeep and Dodge vehicles in Italy, France, Germany, Sweden, Denmark, the Netherlands and Belgium.
In May, Fiat and Chrysler began integrating their Chrysler and Lancia sales networks in Europe. This will lead to a new network of more than 1,000 dealerships throughout Europe by 2014.
Fiat owns 20% of Chrysler and has the opportunity to raise that to 35%. Governments of the U.S. and Canada own about 12%, while the UAW's Voluntary Employee Beneficiary Association owns about 67%.
Fiat's board of directors approved a plan to separate the non-automotive businesses to a new entity to be call Fiat Industrial.
That will leave Fiat Group Automobiles, Ferrari, Maserati, Magneti Marelli, Teksid, Comau and FPT Powertrain Technologies to continue as an automotive-focused manufacturer.
Under the separation, which Fiat expects to complete by Jan. 1, 2011, shares of Fiat Industrial will be assigned to Fiat shareholders on a 1-to-1 ratio.
Check out all the Chrysler models and the upcoming Fiat American models today at Jensen Dealerships - 1258 LINCOLN St SW LeMars, IA 51031.
Source: http://www.google.com/hostednews/afp/article/ALeqM5j9dYMNNHGynLI6w0ceK9d7_LWquQ
During this past quarter, Fiat, which owns 20% of Chrysler, began distributing Chrysler, Jeep and Dodge vehicles in Italy, France, Germany, Sweden, Denmark, the Netherlands and Belgium.
In May, Fiat and Chrysler began integrating their Chrysler and Lancia sales networks in Europe. This will lead to a new network of more than 1,000 dealerships throughout Europe by 2014.
Fiat owns 20% of Chrysler and has the opportunity to raise that to 35%. Governments of the U.S. and Canada own about 12%, while the UAW's Voluntary Employee Beneficiary Association owns about 67%.
Fiat's board of directors approved a plan to separate the non-automotive businesses to a new entity to be call Fiat Industrial.
That will leave Fiat Group Automobiles, Ferrari, Maserati, Magneti Marelli, Teksid, Comau and FPT Powertrain Technologies to continue as an automotive-focused manufacturer.
Under the separation, which Fiat expects to complete by Jan. 1, 2011, shares of Fiat Industrial will be assigned to Fiat shareholders on a 1-to-1 ratio.
Check out all the Chrysler models and the upcoming Fiat American models today at Jensen Dealerships - 1258 LINCOLN St SW LeMars, IA 51031.
Source: http://www.google.com/hostednews/afp/article/ALeqM5j9dYMNNHGynLI6w0ceK9d7_LWquQ
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