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This forgotten Chrysler was its bid for Humvee contract

Today, the Humvee might be as associated with the dead automotive brand from General Motors as it is with the hard-working truck that has long served as one of the backbone vehicles of America's military. But Autoline host John McElroy is showing off a practically unknown part of the model's story by digging out some old photos from his personal archive.
The High Mobility Multipurpose Wheeled Vehicle project, better known today as the Humvee, can be traced back to a US Department of Defense request for bids to build a new military truck. According to McElroy, he was invited to the Chrysler proving grounds in 1981 to check out the bid from the brand's defense division. The company's concept was that it might be able to build an inexpensive, capable vehicle by using off-the-shelf parts.
The angular body panels gave the truck a look almost like a modern, stealth vehicle. However, the flat look was actually just to make the tooling as cheap as possible to produce. Still, this Chrysler looked surprisingly futuristic for the early '80s. It's actually not too far away from the famous Lamborghini LM002, itself intended as a possible military-spec machine.

1963 Chrysler Turbine Car is for sale, and it's the coolest car you can buy

If you have a lot of money, there are a lot of really wild and exciting cars to choose from. But I feel confident in saying that none of them, none of them, can come close to being as brilliantly badass as this 1963 Chrysler Turbine Car, first spotted by Barn Finds, which, yes, is actually something you can buy and own. And even drive! Here's a quick recap of the Turbine Car in case you're unfamiliar. Back in the 1960s, Chrysler was researching turbine engines for vehicle propulsion, and to get an idea for how well they would work in the real world, they built 5 prototype cars followed by 50 production models. Those latter models did a tour to just over 200 families, each of which spent 90 days driving the cars. According to Motor Trend, the engine produced 130 horsepower and 425 pound-feet of torque, and it was paired with a three-speed automatic. Afterward, the cars were returned to Chrysler, which eventually decided that turbine engines weren't the way of the future. According to Hyman Ltd., the company selling this example, only nine Turbine Cars were spared the crusher, and six were sent to museums. This was one of the cars Chrysler held onto, and it was occasionally loaned to executives and such. It was then sold to William Harrah for his collection and museum near Reno. It later was sold to the founder of Domino's Pizza, and then to the latest owner, Frank Kleptz. Kleptz then worked with GE Engine Services to rebuild the engine and make the car run again. As it sits, the car features its original paint, trim and interior. It comes with spare parts and various documents. And of course it oozes cool, from the whistling engine under the hood to the jet-inspired, Ghia-built body and sleek interior. Plus, you can be sure you won't see another one on the road, unless you happen to be cruising by Jay Leno's garage in Burbank, Calif. It really doesn't get cooler than this. Hyman hasn't listed a price for it, but we're sure it will sell for a massive amount, and it would probably be money well spent. Correction: A previous version of this story incorrectly stated that Bill Harrah's car collection was in Las Vegas, it was actually near Reno. The text has been updated to reflect this. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.    

Fiat To Pay $3.65 Billion For Remaining Chrysler Shares

Italian automaker Fiat SpA announced Wednesday that it reached an agreement to acquire the remaining shares of Chrysler for $3.65 billion in payments to a union-controlled trust fund. Fiat already owns 58.5 percent of Chrysler's shares, with the remaining 41.5 percent held by a United Auto Workers union trust fund that pays health care bills for retirees. Under the deal, Fiat will make an initial payment of $1.9 billion to the fund, plus an additional $1.75 billion upon closing the deal. Chrysler will also make additional payments totaling $700 million to the fund as part of an agreement with the UAW. The deal is expected to close on or before Jan. 20, according to a statement from Chrysler. Sergio Marchionne, CEO of both Fiat and Chrysler, has long sought to acquire the union's shares in order to combine the two companies. "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," Marchionne said in a statement issued by Turin, Italy-based Fiat. The deal eliminates the need for an initial public offering of the union fund's stake, which analysts had previously valued at $5.6 billion. Fiat went to court last year seeking a judgment on the price, but the trial date was set for next September. Marchionne can't spend Chrysler's cash on Fiat's operations unless the companies merge. In recent months he made it clear that he preferred to settle the dispute without an IPO, but filed the paperwork for the offering in September at the trust's request. Chrysler's profits have helped prop up Fiat on the balance sheet as the Italian automaker struggles in a down European market. The Auburn Hills, Mich., automaker earned $464 million in the third quarter on U.S. sales of the Ram pickup and Jeep Grand Cherokee, its ninth-straight profitable quarter. The results boosted Fiat, which earned $260 million in the quarter. Without Chrysler's contribution, Fiat would have lost $340 million. UAW/Unions Chrysler Fiat