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Fiat will buy the rest of Chrysler for $4.35 billion

Fiat has announced that it will purchase the rest of Chrysler in a deal totaling $4.35 billion. Currently, the outstanding 41.6 percent stake in the company is owned by the UAW's voluntary employee beneficiary association, or VEBA, trust. Under the terms of the deal, Fiat won't shell out all $4.35 billion.

Jeep Grand Cherokee's 2013 model year will be short

The Jeep Grand Cherokee will have a shortened 2013 model year so that in January the Chrysler Group can introduce a diesel engine and eight-speed automatic transmission for the 2014 model, internal Chrysler sources say. Dealer orders for 2013 Grand Cherokees began this month. The 2013 model, which will begin production in August, will continue with the five-speed automatic that the Grand Cherokee has had since mid-2010.

Pagani Huayra in Purple with Tricolour Calipers (video)

We have video of what looks like a new build Pagani Huayra, still plastic wrapped, in purple with Italian Tricolour brake calipers. That’s because the Pagani Huayra has not, as far as we can tell, managed to get a European Certificate of Conformity or managed to be Federalised for the US, so sales are impossible. But Pagani are still producing a few cars – although they’ve probably built more Zondas in the last two years than Huayras – but it looks like this Huayra – caught on video outside Pagaini’s premises in Modena – is a new build.