Chrysler Group LLC, the U.S. carmaker forming an auto-financing venture with Banco Santander SA, said the unit wants to cut the almost four-hour industry average time it takes to approve a vehicle purchase.
The governors of Oklahoma and Colorado met with executives from General Motors Co., Ford Motor Co. and Fiat SpA’s Chrysler Group LLC, to ask for more cars and trucks with engines that run on compressed natural gas.
For Fiat SpA, Italy’s austerity efforts have meant falling sales, stubborn losses and layoffs for thousands of workers. One business, though, has benefited mightily: the division that makes vehicles fueled by natural gas and propane.
Chrysler Group LLC, the automaker that topped its full-year operating profit forecast in the first half today, said it won’t increase its guidance until after the third quarter. Fiat SpA, which runs Chrysler, fell on the news.
The unemployment rate in the U.S. unexpectedly fell to a two-year low of 8.8 percent in March as employers created more jobs than forecast, adding to evidence the labor-market recovery is gaining traction.
The pickup in U.S. employment was probably sustained in March, and factory assembly lines kept humming, showing that a jump in fuel costs has yet to choke the expansion, economists said before reports today.