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Fiat buying rest of Chrysler in $4.35 billion deal, IPO avoided

Chrysler will now become a wholly owned member of the Fiat family, as it's been announced that the 41.46-percent stake in the Auburn Hills, MI-based manufacturer owned by the United Auto Workers' VEBA trust fund will be sold to the Italian company. Concluding the agreement will mark the closure of a piecemeal purchase process that could have resulted in an initial public offering.
The total cost of the sale will see the VEBA healthcare trust receive $4.35 billion, $3.65 billion of which will come from Fiat. $1.75 billion of that will be cash, while an additional $1.9 billion will be part of a "special distribution." An additional $700 million will be paid over four separate installments according to reports from Automotive News Europe and USA Today, although the shares will belong to Fiat following the first payment. The deal was reportedly initially struck on Sunday (though it is just being announced today), and is being portrayed as particularly good news for Fiat and Chrysler, which have now prevented the remaining shares going to the stock market in a UAW-forced IPO.
"The unified ownership structure will now allow us to fully execute our vision of creating a global automaker that is truly unique in terms of mix of experience, perspective and know-how, a solid and open organization that will ensure all employees a challenging and rewarding environment," Fiat CEO Sergio Marchionne said in a statement.

Chrysler Voyager minivan goes fleet-only for 2022

Private motorists will not be able to buy a new Chrysler Voyager in the 2022 model year; the minivan is now a fleet-only model. The cheaper alternative to the Pacifica loses most of its trim levels, but it gains a longer list of standard features during the transition. Fleet buyers take on many shapes and forms, but in minivan-speak the term usually denotes rental car companies. Chrysler simplified buying by paring down the lineup from three to one trim. Called LX, it gains a 7.0-inch touchscreen that runs the Uconnect 5 infotainment system, second-row Stow 'n Go seats, power-operated sliding doors, heated front seats, and a heated steering wheel; that's not bad for something you're picking up at the airport to spend a weekend in. There's also a new air filtration system shared with the Pacifica.   Related: Least expensive vehicles to insure in America   The list of options now includes a package called Safety and Premium Group that bundles a blind-spot monitoring system, rear parking sensors, rear cross-path detection, full-speed forward collision warning, automatic emergency braking, and a 10.1-inch touchscreen with navigation. However, upmarket features like leather upholstery and a 19-speaker Harman-Kardon surround-sound system are not offered. Chrysler is not making mechanical changes, so power for the Voyager comes from a 3.6-liter Pentastar V6 rated at 287 horsepower and 262 pound-feet of torque. It spins the front wheels via a nine-speed automatic transmission. All-wheel drive is not available; only the Pacifica can get its power sent to four wheels. Similarly, there are no visual changes to report. The Voyager still looks like a pre-facelift Pacifica. Pricing information for the 2022 Voyager will be announced closer to its on-sale date. At launch, buyers will have five colors called Silver Mist, Brilliant Black, Bright White, Granite Crystal, and Velvet Red, respectively. The former (shown in the gallery) is new for 2022. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. How to use the Stow 'N Go seats on the 2021 Chrysler Pacifica

New Barracuda, Grand Cherokee Trackhawk coming soon

As we write this, Fiat Chrysler Automobiles is conducting a major dealership event in sunny Las Vegas. New vehicles are being announced, redesigned offerings are being teased, and promises are being made to the sprawling company's dealer body. And, as all these announcements are meant to be tip-top secret, they're leaking out left, right, and center. Naturally. FCA is telling its dealers all of the vehicles shown at the Vegas gala will be in showrooms within 12 to 24 months, and that the product offensive will include at least 30 new or significantly refreshed models. Some of those we've known about since FCA boss Sergio Marchionne unveiled his highly ambitious five-year plan in May 2014, while we're hearing about others for the very first time. We've reached out to our sources within FCA, and will update this post as we learn more. It should be noted that while we've tried to rely on concrete sources or corroborations from multiple sources, some of the news here comes from people claiming to have been in attendance and posting in forums like Allpar and Jalopnik's Opposite Lock. Unless corroborated by a mainstream source or confirmed by our own sources within FCA, we're listing each item that comes from a forum. Have those grains of salt at the ready. Chrysler Dodge Durango-sized SUV with stow-and-go was shown. A poster on Allpar Forums claims it had a Durango's interior. New Aspen? Town and Country PHEV confirmed (again). A plug-in minivan was originally announced as part of five-year plan. No news on 200 or 300. Dodge The redesigned Charger will use the Alfa Romeo Giulia's rear-drive platform and, according Automotive News, draw inspiration from 1999's Charger concept car. We're wagering the 24-month time frame specified to dealers will move the new sedan's arrival up from 2018 to mid-2017. Jalopnik's Opposite Lock claims two new Challenger models are coming. Challenger ADR (American Drag Racer) and T/A. ADR should appeal to bracket racers and is more powerful than the SRT Hellcat, while T/A is for track rats, just like Viper T/A. Automotive News claims the legendary Barracuda nameplate will be revived as a Dodge. The Barracuda will be smaller than Challenger, offered as both a coupe and a convertible. Allpar claims it will feature modern styling. A Dodge Durango SRT was announced with 6.4-liter Hemi V8 and rear-drive. Sources within FCA confirmed its arrival with Autoblog. Apparently, dealers were shown an example in B5 Blue.