New car sales in Germany, Europe’s largest economy, resumed declining in May as buyers shied away from big-ticket purchases and fleet operators cut spending amid a lingering sovereign-debt crisis in the region.
Fiat SpA is in talks for as much as $10 billion in financing from a pool of banks to buy the Chrysler Group LLC stake it doesn’t own and refinance the two automakers’ debt, people familiar with the matter said.
Fiat SpA Chief Executive Officer Sergio Marchionne , rejecting overtures from Volkswagen AG, says Alfa Romeo isn’t for sale. That means at least two more years of depressed profit for the Italian company’s shareholders.
Fiat SpA will develop a successor to the iconic Alfa Romeo Duetto Spider with Mazda Motor Corp. as part of a plan to return the brand to the U.S after almost 20 years, a person familiar with the matter said.