Despite the relatively low price Fiat managed to score in its buyout of Chrysler Group LLC, analysts said the ballooning debt of Fiat should be something to worry about.
Automotive
Mobileye incorporates Collision avoidance system with Accel's VOYAGER connected car smartphone
Privately-held developer of Advanced Driver Assistance Systems Mobileye partnered with Israel-based Accel Telecom Ltd for the integration of its Collision avoidance system with Accel's VOYAGER connected car smartphone.
Private equity firm Catalyst Capital gets go ahead for Advantage Rent A Car takeover
A Mississippi bankruptcy judge on Friday approved the sale of bankrupt car rental company Advantage Rent A Car to Canadian private equity firm Catalyst Capital Group.
US auto makers rebound as sales hit 15.5M vehicles
2013 had been the best sales year for the auto industry as US consumers bought 15.5 million vehicles. Ford Motor Co., Honda Motor Co. and Chrysler Group posted single-digit percentage gains, while General Motors Co. and Toyota Motor Corp. sales declined.
Activist investor Carl Icahn buys as much as 40M shares in Hertz
Activist investor Carl Icahn reportedly bought 30 to 40 million shares in car rental company Hertz Global Holdings Inc. Sources said that Icahn is the target of the poison pill adopted by Hertz on Monday.
Latest News
Italian automaker Fiat SpA has agreed to buy the remaining stake of Chrysler Group held by the United Auto Workers retiree healthcare trust, paving the way for both carmakers to finally merge.
The officials of Caddo Parish's Industrial Development Board closed the deal on Friday afternoon to acquire the former General Motors (GM) facility from RACER Trust for $7.5 million.
Hyundai Motor Co. on Friday named sales chief David Zuchowski as the new chief of its US arm. Zuchowski will replace incumbent US chief John Krafcik, whose contract expires at the end of the year.
Volkswagen AG's Audi division said today in a statement that it is aiming to challenge major automobile players in terms of global sales by pouring in €22 billion or $30.3 billion in auto model and technology development through 2018.
India-based integrated components manufacturer Amtek Auto agreed to acquire significant business interests in Germany-based integrated machine manufacturer Kuepper group in a deal reportedly valued at €200 million.
Cessna aircrafts and Bell helicopters maker Textron Inc said it had approved the purchase of Beechcraft Corp in a deal worth $1.4 billion, Bloomberg reported.
The Irish Aviation Authority has spent €20 million to buy a 6% stake in Virginia, US-based air traffic surveillance firm Aireon LLC, as part of an agreement with Italy and Denmark to invest in the new service.
Turin, Italy-based car maker Fiat SpA restarted negotiations to purchase the remaining shares of US-based auto manufacturer Chrysler Group LLC, according to sources familiar with the matter.
Tokyo-based trading firm Mitsui sold its new shares in Indonesia-based motorcycle financier Bussan Auto Finance (BAF) to Ciptadana Capital and Yamaha Motor Group in a deal valued at IDR350 billion ($28.7 million).
