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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.

GMC Granite concept (w/ Video)

The biggest surprise at the 2010 NAIAS was GMC's Granite concept - a design that expands (or rather contracts) the truck/crossover brand's 'professional grade' philosophy to a compact hatchback aimed at urban hipsters and early adopters. Conceived by Frank Saucedo's Advanced Design team in California and then built at GM's Design Center in Detroit, the Granite combines the basic proportions of the Nissan Cube and Scion xB with a military/industrial feel inspired by the current G-Star and Diesel fashion lines. Watch the videos to the left to see the young international design team present the rationale behind the new concept, and read our opinion of the Granite in our 2010 Detroit Auto Show Highlights.

Dacia 'to stay true to its budget roots'

The global marketing boss in charge of Dacia’s roll-out has promised that Renault’s budget brand won’t move upmarket. Many bargain car marques end up inching – or scrambling – upmarket, with slicker products, big price hikes and a desertion of their value promise. But Dacia promises it won't follow the likes of Skoda, Hyundai and Kia by starting cheap 'n' cheerful and then raising prices.