Fiat SpA isn’t closer to reaching an agreement with a United Auto Workers retiree health-care trust over the Italian carmaker’s Chrysler Group LLC unit in the U.S., Chief Executive Officer Sergio Marchionne said today.
Business is booming at Beau Boeckmann’s Ford showroom in southern California, with buyers snapping up Fusion sedans they compare to Aston Martins. Just don’t ask how the government shutdown might influence sales.
Tofas fell the most in more than two weeks after a report that Turkey ruled out tax incentives for citizens to trade-in old vehicles, quashing optimism that the carmaker could benefit from a “cash for clunkers” program.
Fiat SpA, the majority owner of Chrysler Group LLC, threatened to pull back from future commitments to the American carmaker if a health-care trust succeeds in selling its stake in an initial public offering.
Ron Bloom is back in Detroit two years after helping run President Barack Obama’s auto-industry team. This time, he took one role defending the city’s workers and another that puts him at odds with carmaker employees.