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Fiat buys remaining stake in Chrysler (2014)

By Damion Smy Motor Industry 03 January 2014 13:30 Fiat has purchased the remaining stake in Chrysler to become the sole owner of the US car firm. In a deal worth £2.2billion, the Italian company bought the remaining 41.46% of Chrysler from the VEBA Trust (Voluntary Employee Beneficiary Association) made up of current and former Chrysler employees. Fiat Chief Executive Sergio Marchionne says: ‘In the life of every major organisation and its people, there are defining moments that go down in the history books.

Honda looks ahead with new SUV

HONDA has unveiled a brand-new crossover SUV at the Tokyo Motor Show, scheduled to reach the UK in 2015. The compact-sized Vezel offers four-wheel drive and in Japan will come in petrol and hybrid models, although the 1.6-litre diesel is likely to feature in European specification. Combining the stance and driving position of an SUV but the design features of a coupe, the Vezel aims to compete with the increasing number of crossover vehicles that are winning sales from conventional hatchbacks.

Volkswagen to buy 42 percent of Porsche, full merger planned

Volkswagen will buy 42 percent of Porsche's sports-car business en route to a full merger by the end of 2011, the companies announced Thursday. VW will pay $4.7 billion for its initial stake in Porsche. It positions the new company to have 10 brands and global sales of 6.4 million, and Volkswagen CEO Martin Winterkorn is likely to lead the entity.