Before a longer analysis by The Deal's Lou Whiteman, a senior writer covering autos and aviation, here's a quick hit on Fiat SpA closing its acquisition of the good assets of Chrysler LLC.
Sergio Marchionne (pictured), who was named CEO of Chrysler Group LLC on Wednesday, said in a statement:
"From the very beginning, we have been adamant that this alliance must be a constructive and important step towards solving the problems impacting our industry." Marchionne continued, "Those Chrysler operations assumed by the new company that were idled during this process will soon be back up and running, and work is already underway on developing new environmentally friendly, fuel-efficient, high-quality vehicles that we intend to become Chrysler's hallmark going forward."
Here's the
press release issued by Italy's Fiat.
And on a broader subject of government bailouts, Corporate Dealmaker editor Kenneth Klee dives in to the many
perils of mixing gov't and business. -
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And the winners are...
This news and accompanying uncertainty send a loud and clear message: buyer beware of Chrysler cars. Who is to say they will be around long enough to honor service guarantees.
While the incentives sound inciting, you can still get a good deal from other car companies and maintain your peace of mind.
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