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The minivan, reinvented | 2017 Chrysler Pacifica Hybrid First Drive

In the 1980s, minivans succeeded station wagons as the vehicle of choice to move families. The Chrysler Town & Country, Dodge Caravan, and Plymouth Voyager broke that ground, and Chrysler has owned the segment for most of its existence. Though still popular with practical types, minivans have been ceding ground to crossovers for a while, and after 30 years, minivan evolution has slowed, with only the occasional noteworthy feature like a built-in vacuum making headlines. The 2017 Chrysler Pacifica Hybrid is the next big idea in the segment. In fact, we think its plug-in hybrid powertrain is the biggest minivan idea since the original. Yes, we're excited about a hybrid people mover. For 2017, Chrysler has reworked, refocused, and renamed its minivan effort, ditching the Town & Country moniker in lieu of the Pacifica nameplate. The odd recycled name aside, it's not only far superior to Chrysler's outgoing minivan, but, with most of the competition several years old, the new Pacifica is easily the current class leader. But while the minivan's practicality is undeniable, they're not always the most efficient. It's a wonder, then, that no competitor has packaged a hybrid system into a minivan before – especially Toyota, given its dominance in hybrid everything else. Toyota does offer a hybrid minivan in its home market, but the Sienna's only calling card is that it's now the sole American van to offer all-wheel drive, something Chrysler gave up when it started hiding the seats in the floor years ago. Owing in part to its newness, the non-hybrid Pacifica was already one of the most fuel-efficient minivans on the market, with ratings of 28 miles per gallon highway, 18 city, and 22 combined. Add in the hybrid equipment, with its 16-kWh battery pack providing 30 miles of electric-only range, and the new Pacifica Hybrid achieves an astounding 84 MPGe, trouncing everything else in the segment (because, again, it's the only hybrid van). When working as a hybrid and not in EV mode, the Pacifica Hybrid nets a combined rating of 32 mpg. On a full tank and a full charge, it has a range of 566 miles. The hybridized version weighs 650 pounds more than a standard Pacifica. That's after some of the added weight from batteries and motors has been offset by a hood, sliding doors, and liftgate made from aluminum instead of steel. The suspension has been adjusted well enough that you don't really notice the added mass driving down the road.

Marchionne's pay as Fiat CEO falls to $5M

Sergio Marchionne will be buying fewer of his iconic sweaters, as his 2013 pay from Fiat took a dip from $6.24 million to an even $5 million. Marchionne, who was also CEO of Chrysler, made $307,989 thanks to some stocks and benefits from the American company, although he didn't take a salary. Of that $5 million paid by Fiat, $3.19 million came from Marchionne's fixed salary while the remaining $1.8 million was paid for hitting unspecified performance targets.
The news comes from Fiat's compensation reports, which also showed that the 61-year-old, who already owned three million shares in Fiat at the end of 2013, was able to receive an additional 2.3 million shares through a stock incentive program. According to Automotive News Europe, the additional shares would be worth about $25 million at today's prices, although so far, Marchionne has declined to claim the extra shares.
According to ANE, Fiat reported a 2013 trading profit of $4.7 billion.

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.