I was reading an article online about Fait and Chrysler?
It was talking about Obama and Romney. How are they connected to Fiat bailout with Chrysler? Does Fiat own Chrysler? Is it Obama or Romney the reason Fiat owns most of Chrysler and wants to move 'some' of Jeep's manufacturer to China? Is that true to. Is Chrysler going downhill with it's American roots? I'm so lost since Chrysler got that bailout!!!
- 8 years agoFavorite Answer
Chrysler Group LLC has repaid $7.6 billion in outstanding U.S. and Canadian government loans. The original loans were repaid in full, more than six years ahead of schedule, along with the payment of accrued interest and additional consideration.
The Company borrowed $5.1 billion from the United States Treasury (UST) and $1.6 billion from the Canadian governments in June 2009. In total, Chrysler Group has paid the UST $6.5 billion and the Canadian governments $2.0 billion, including $1.8 billion in interest and additional consideration.
Chrysler Group LLC, formed in 2009 from a global strategic alliance with Fiat S.p.A., produces Chrysler, Jeep, Dodge, Ram, Mopar and Fiat vehicles and products. With the resources, technology and worldwide distribution network required to compete on a global scale, the alliance builds on Chrysler Group's culture of innovation, first established by Walter P. Chrysler in 1925, and Fiat's complementary technology that dates back to its founding in 1899.
Chrysler going downhill - Chrysler Group LLC reported September 2012 U.S. sales of 142,041 units, a 12 percent increase compared with sales in September 2011 (127,336 units), and the company’s best September sales since 2007. Thanks to the support provided by President Obama.
Romney's comment about US jobs going to China - To set the record straight: Jeep has no intention of shifting production of its Jeep models out of North America to China. It’s simply reviewing the opportunities to return Jeep output to China for the world’s largest auto market. U.S. Jeep assembly lines will continue to stay in operation.
Chrysler Group LLC announced on January 5, 2012 that Fiat S.p.A.'s ownership interest in the Company has increased to 58.5 percent, from 53.5 percent (fully diluted), upon the Company's achievement of the final of three performance-related milestones.
Chrysler Group LLC
- 8 years ago
Fiat owns about 35% of Chrysler, I think that is the correct percentage, quite frankly I haven't been keeping up with what's happening there. Fiat bought into the company to help pay off the loan Chrysler received from the US government, Chrysler had a good bit of cash prior to that but it was siphoned off by Daimler, after selling Chrysler to Cerberus, Daimler walked away.
ROMNEY IS TELLING MORE UNTRUTHS . . . Jeep is not moving to China, they are adding 1100 jobs at the current plant. Chrysler owns a minority controlling interest in BJC, Beijing-Jeep Corporation, which they acquired when Chrysler purchased AMC in the late '80's, AMC created BJC with the Chinese to build Jeeps to be sold locally, Mercedes switched from Chinese built and sold in-country Jeeps to Chinese built and sold in-country Mercedes, Chrysler is switching back to building Jeeps in China to be sold in China and probably the surrounding countries to those that can afford them.
Do a bit of research on Romney, he does not sound good for our country.Source(s): Fifty years of shadetree engineering, racing, and home auto repair, all Mopars mostly Dodges.