Just recently Sergio Marchionne, who is the CEO of both Fiat and Chrysler, announced the final acquisition of the remainder of Chrysler. Fiat already owned 58.5% of Chrysler and an agreement was recently reached to purchase the remainder for $4.35 billion. What does this mean for both Fiat and Chrysler?
What this means is Chrysler is on the rise and fast. In the fourth quarter alone, Chrysler recorded an increase in profits of $659 million without the tax break they were granted which is valued at $962 million brining their actual quarterly profits to $1.62 billion, an increase in more than $1 billion in profits. Couple this with the manufacturing advancements Fiat has put in place and Chrysler is going to own the market and fast. [Read more...]