Chrysler CEO Has Five-Year Plan

FRANKFURT -- Chrysler Group LLC Chief Executive Sergio Marchionne said Wednesday he has designed a five-year plan for the auto maker and plans to share some of the details in November.

Mr. Marchionne, who is also CEO of Fiat SpA, said Fiat expects Chrysler's restructuring to initially progress slowly but significantly improve next year. He said Fiat is scheduled to present the plan for Chrysler by the end of November and that Chrysler will start reporting quarterly results by the end of the year.

"We are going to become a normal reporter in the U.S. hopefully by the end of 2009," Mr. Marchionne said at the Frankfurt auto show. "You will see numbers like you see for everyone else. I think we need to lift the shroud of secrecy from around the house. We have nothing to hide."

Mr. Marchionne said he had a "whole pile of surprises" when Fiat took control of the bankrupt Chrysler in June.......More

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Magna executive says EU won't block Opel deal

Frankfurt -- The co-chief executive of Magna International Inc. said Tuesday that he doesn't believe the European Union will block his company's acquisition of a majority stake in Opel....
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Marchionne Managing Chrysler Means 5 Mobile Devices in Backpack

Sept. 14 (Bloomberg) -- To save Chrysler Group LLC, Chief Executive Officer Sergio Marchionne has to create a mid-size sedan that can compete with the world’s best. It’s a three- to five-year job, and he may have two years to do it.

Chrysler, which got a $15 billion government bailout, may be out of cash in 24 months if he doesn’t return the Auburn Hills, Michigan-based company to profitability. Developing a car to rival perennial top sellers Toyota Camry and Honda Accord would normally take at least three years, analysts say.

Marchionne, 57, the CEO of Fiat SpA who brought that company back from near ruin, stepped into the toughest challenge of his career by taking control of Chrysler. Failure may mean not only the demise of the third-largest U.S. automaker and tens of thousands of jobs, it may prevent Marchionne from turning Turin, Italy-based Fiat into a global player.

“He’s going to have a much harder time than at Fiat,” said Maryann Keller, president of consulting firm Maryann Keller & Associates in Stamford, Connecticut. She’s covered the industry since 1972 and said the question is “whether they have time to fix the product problem before they run out of money.” ...More

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GM rescinds 27,000 pay cuts for white-collar workers

General Motors Co. restored salaries for white-collar workers and some executives Friday in a bid to retain employees critical to the automakers revival.--More

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GM offers 60-day, cash-back guarantee

Board chairman to pitch four brands in major ad campaign
Robert Snell / The Detroit News
General Motors Co., trying to woo consumers after a trip through bankruptcy, will launch a new advertising campaign Monday touting a 60-day money-back guarantee featuring GM Chairman Ed Whitacre.

The move is a bid to boost slumping sales and market share at a crucial time for the automaker, and for GM executives under government pressure to improve the company's fortunes.

GM, which received $50 billion in federal aid, is pouring millions into the "May the Best Car Win" campaign. The promotion will urge consumers to try 2009 and 2010 models from one of the automaker's four core brands -- Chevrolet, Cadillac, Buick and GMC. Anyone who is unhappy with their purchase can return the vehicle within 60 days....More

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GM sells Opel to Magna, Sberbank

General Motors Co. will enter into the latest of a series of alliances in key overseas markets after agreeing to sell control of its German carmaker Adam Opel GmbH.--...More

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Chrysler buys out engine plant in Dundee

Chrysler Group LLC, the automaker run by Fiat SpA since exiting bankruptcy in June, said Thursday it bought out Mitsubishi Motors Corp. and Hyundai Motor Co. stakes in a Michigan engine factory.--...More

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GM rolls past 1 million miles in fuel cell demo

Buffalo, N.Y. -- General Motors Co. is now 1 million miles into its fuel cell experiment and company officials say having everyday people drive a test fleet of pollution-free cars has convinced them they are on the right track.---
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President Obama to make first auto plant visit

Washington -- President Barack Obama plans to make a speech at General Motors Co.'s assembly plant in Lordstown, Ohio, next week, his first visit to a U.S. auto plant as president.--...More

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GM to lay off about 1,000

General Motors Co. needs to lay off about 1,000 white-collar workers this month because only 1,900 accepted early retirement and buyout offers, the automaker said Wednesday.--...More

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Gov to shift its stakes in GM and Chrysler to independent trust

By Silla Brush - 09/09/09 The federal government should consider shifting its massive stakes in General Motors and Chrysler into an independent trust to provide better oversight and transparency, a government watchdog panel will report on Wednesday.

The government has supported the U.S. auto industry with more than $70 billion in bailout aid and has taken large stakes in both companies as they try to dramatically revamp their operations.---...More

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Chrysler: Dodge Ram No. 1 in vehicle accessories

The Dodge Ram full-size pickup boasts the most accessories of any vehicle in Chrysler Group LLC's lineup, the automaker said Tuesday.

The Jeep Wrangler is a close second, followed by the Chrysler Town & Country and Dodge Grand Caravan minivans, the automaker said.

Chrysler, which is partnered with Fiat SpA, wants to bump up awareness of the Mopar brand of accessories. Under new Chief Executive Officer Sergio Marchionne, who is also CEO of Fiat, Chrysler has restructured its management team to support four brands: Chrysler, Dodge, Jeep and Mopar.

Ram owners spend an average of $389 on Mopar accessories, with more than 70 items to choose from, the automaker said. ..More

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