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A Bloomberg report accuses Fiat Chrysler of creating a ‘sales bank’ of up to 40,000 new vehicles, reviving an old practice that could stoke tension among dealers and investors.
Fiat Chrysler and PSA Group have agreed to join forces to create the world’s No. 4 automaker in a $48 billion deal designed to save the factories billions in research and development costs.
Bloomberg reports Fiat Chrysler and PSA Group, which includes the Peugeot, Opel, and Citroen brands, could announce a merger as soon as this week, a deal that would form a General Motors-sized factory.
General Motors is said to be set to sell its stake in Ally Financial, which is majority owned by U.S. taxpayers, Bloomberg reports.
Chrysler Group LLC amended its initial public offering to more clearly detail its value to its majority owner, Fiat, Bloomberg reports.
Wells Fargo officials told Bloomberg that it would like to expand its relationship with General Motors. A bank official also said the company is interested in expanding its offerings to other automakers.
The executive responsible for dropping Facebook from the automaker’s ad budget departs after two years as head of GM’s marketing team.