DETROIT (Bloomberg) — Fiat S.p.A. has options to increase its stake in Chrysler Group LLC to more than 70 percent as the U.S. government seeks to exit its investments in the auto industry.
Fiat has an option for 12 months to buy the U.S. Treasury’s remaining stake after it repays debts to the government, Chrysler said today in a filing with the U.S. Securities and Exchange Commission. Chrysler said in April it would issue new debt to repay the government loans, allowing Fiat to exercise an option to increase its stake to 46 percent from 30 percent.
The Treasury holds an 8.6 percent stake in Chrysler, the company said April 12. That amount would be reduced when Chrysler meets the final of three performance milestones that each give Turin, Italy-based Fiat an additional 5 percent stake. The final goal, to build a vehicle that gets 40 mpg in the U.S., should be met this year, Sergio Marchionne, CEO of both automakers, has said.
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If you’re looking for a used car like the 2009 Pontiac G8 GT pictured above and were hoping for a deal, you might be in for an unpleasant surprise. Used car prices hit a record high in April, as inventories are tight in the new car market and wholesale used-vehicle prices keep increasing. The domestic auto business is doing very well as evidenced by good news from auto retailers like AutoNation, so prices are going up all across the board.
Jaguar announced that it produce the C-X75 hybrid supercar as a halo car. This is great news for any auto enthusiast out there!
From AutoNews.com:
Jaguar today said it will build the C-X75 hybrid supercar as a halo car for the brand.
The British sports car maker will make 250 examples of the C-X75, which stole the spotlight at the 2010 Paris auto show.
The car will be priced between 700,000 pounds ($1.2 million) and 900,000 pounds ($1.5 million) depending on the local market and taxes.
Jaguar said the C-X75 will use advanced technology to deliver low CO2 emissions of less than 99 grams per kilometer while being able to achieve in excess of 200 mph (322 kph).
“The C-X75 received an incredible reception as a concept car. We’ve been building on that momentum and there is a clear business case for this exclusive halo model,” Adrian Hallmark, Jaguar brand director, said in a statement.
First Look: Scion FR-S Concept, from InsideLine.com:
Whether it’s on land or sea, summer is the season to cruise around on a vehicle with the wind blowing in your face; when windows and roofs are optional. In the summer, vehicles aren’t always for getting from point A to point B, but rather for speed and thrills. So, here are the top six summer vehicles to do both, and more.
1. Convertibles
Convertibles let drivers put the top down on their cars and let the sun shine in and wind blow through. A variety of car models have convertible editions, from sporty Corvettes to classic Cadillacs. Drivers can speed down the freeway or take a casual trip in the countryside with nothing but the sky above.
2. Jet Skis
Jet skis are one of the fastest and most exciting vehicles on the water. On a jet ski you have the ability to get airborne off a boat’s wake or take sharp turns on a dime. Their power provides swift acceleration to take off in an instant. Jet skis are suitable for any body of water and are small enough to easily transport. Although they are safe, you’ll be cruising among larger ships so remember to get watercraft insurance.
3. Motorcycles
Summer is riding season for motorcyclists–the roads are clear, as are the skies. On a motorcycle you are exposed to the elements, from the sun to the wind, for a true summer experience. Some motorcycles are built for speed, reaching upwards to 200 mph, while others are made for power.
4. Jeeps
Jeeps are some of the most versatile summer vehicles available. Most models come with removable tops like a convertible. Their greatest feature, however, is the four-wheel drive–perfect for off-roading. Thus, Jeeps can cover all terrains from rocky mountain trails to sand dunes. Unlike other summer vehicles, Jeeps have plenty of room to bring your friends.
5. ATVs
If your conception of summer is spending time with nature, then an all-terrain vehicle is for you. ATVs are designed to handle rough as well as wet landscapes. Their compact size and maneuverability make them excellent vehicles for driving through wooded areas or wide-open plains. And if you encounter a river in your path, you just might be able to go right through it.
6. Segway
The Segway is the ideal summer vehicle for urban transportation as they are faster than walking but still safe for sidewalks. Best of all, these two-wheeled vehicles require little effort to operate. They move forward and backward upon the direction the rider is leaning. Segways are easy to get on and get off of so they make for the best summer vehicle to explore a city as you make frequent stops to check out the attractions.
The top summer vehicles in this list will take you across the black top or the blue sea, and at high or low speeds. What vehicle are you going to be riding during the summer?
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