Fiat will gain 35% stake in Chrysler without a cash investment through a new global strategic alliance deal. The alliance gives Chrysler access to Fiat's small vehicle technology and platforms to build in its own facilities and the two will share distribution networks and other resources to reduce costs.
Fleets subject to driver hours-of-service compliance could previously deny GPS data records to FMCSA enforcement officials. That policy has now been changed so that the data could be used to prove violations.
Chrysler President Tom LaSorda denied news reports that the company was in talks to sell off Jeep or other brands. He couldn't rule out sale of the entire group by Cerberus. LaSorda insists that Chrysler will survive despite needing $4B in federal loans and seeking $3B more.
The Hyundai Genesis and Ford F-150 were named North American Car and Truck of the Year, respectively. The Genesis beat the Ford Flex and VW Jetta while the F-150 topped the Dodge Ram and Mercedes-Benz ML 320 Bluetec. Journalists from the U.S. and Canada voted on the honors, which were announced at the Detroit auto show.
Deep losses in used wholesale pickup and SUV prices on record fuel prices rebounded in Dec over Nov as fuel prices dropped and consumer confidence improved. Sedan values actually dropped without fuel price pressures while crossovers and vans held steady.