Word: fiat
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While much has been made of Prime Minister Silvio Berlusconi's grip on Italian television - he owns three of the biggest commercial stations and in his role as Premier has influence over state broadcaster RAI - the country's printed press has its own conflicts of interest. The Fiat holding group has controlling stakes in Milan daily Corriere della Sera and Turin-based La Stampa. Daily La Repubblica is owned by Carlo De Benedetti, a business rival of Berlusconi's with interests in energy, automobiles and health care. Il Sole 24 Ore, the country's financial paper, is owned by Italy...
Sales results from August are raising doubts about Chrysler Group LLC's post-bankruptcy comeback and indicate that the ailing automaker is in for an agonizing wait of several months before aid from its new Italian partner, Fiat, can finally make a difference...
...supply of vehicles on dealer lots, the lowest figure in decades. Beahm also notes that Chrysler's truck, van and Jeep sales have been relatively stable. Of course, that's a far cry from what's needed most right now - sales growth. And new products designed with help from Fiat won't arrive until...
...heavy-duty pickup truck that will debut in October. After that, the automaker's next big introduction comes in the first quarter of 2010, when the new Jeep Grand Cherokee debuts. Overall, however, Chrysler's new-product pipeline is thin, suggesting that the automaker will struggle until help from Fiat materializes, says Rebecca Lindland, an analyst with IHS Global Insight. Ron Bloom, President Obama's point man on the automotive task force, acknowledged as much in a recent interview when he said that Chrysler, unlike GM, would not be ready for an initial public offering of stock next year...
...blame Volkswagen CEO Martin Winterkorn for smiling this past week. VW has just turned the tables on would-be raider Porsche, placing Europe's biggest carmaker in the driver's seat for a planned merger with the much smaller and sportier firm. And while colleagues at rivals like Daimler, Fiat, General Motors and Peugeot are busy trying to survive the current economic storm, Winterkorn seems poised to throw VW into high gear...