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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.

Bentley SUV will be the Bentley Falcon

It looks like Bentley has come up with a name for its SUV – Bentley Falcon - and, as expected, it will get a complete redesign before it arrives. But it now seems that VW has bitten the bullet on the Bentley SUV and signed it off for production, when it will apparently come complete with a new Bentley name – Bentley Falcon. The news of a name for Bentley’s luxury off-roader comes from Georg Kacher writing in Automobile Magazine and, although it perhaps doesn’t resonate particularly in the UK, it will probably have more impact on the target market for the SUV – the Middle East – where the Falcon is a big deal.

U.S. auto sales continue to plunge in February

February sales for each of the top six U.S. automakers plunged more than 37 percent in February--the worst month since December 1981. "We are in an automotive depression amid 'The Great Recession,' " Standard and Poor's analyst Efraim Levy said in a report.