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Chrysler purchases remaining shares from VEBA Trust, announces funding plan

It's official: The Detroit Three is now The Detroit Two and The Fiat Subsidiary, Chrysler. Both the Italian carmaker and The Pentastar announced the completion of cash payments and a Memorandum of Understanding (MOU) on future payments necessary to make the Chrysler Group a wholly-owned subsidiary of Fiat. As previously detailed, Chrysler made a cash payment of $1.9 billion and Fiat North America made a cash payment of $1.75 billion to the Voluntary Employment Benefit Association (VEBA) run by the United Auto Workers union.
On top of that, Chrysler Group signed an MOU that agrees to payments of $700 million to the VEBA in four installments, the first of which was made concurrently with the other cash payments. And for you trivia mavens, the full name of the UAW is the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America. So go impress your loved ones with that nugget after you check out the press release below.

Fiat 500 Cattiva and Abarth Tenebra concepts showcase design to enhance personality

Fiat brought out two new design concepts at the Detroit Auto Show, both intended to expand the appeal of its 500 Turbo and 500 Abarth models with upgraded and unique appointments inside and out.
First up is the Fiat 500 "Cattiva," based on the 500 Turbo, painted with a vibrant Rame (Copper) exterior with contrasting Nero (Black) accents. The turbocharged 500 features gloss Nero headlamp buckets, parking lamp bezels, tail lamps and a roof-mounted spoiler. Special 16-inch alloys, painted satin dark gray, hint at the sport-tuned suspension inside each fender. The appointments are continued inside its cabin with leather sport seating, Matte Nero instrument panel and other trim upgrades. Lastly, the sound package is the segment-exclusive Beats Audio system.
The Fiat 500 "Tenebra," based on the 500 Abarth, is painted in Matte Grigio (Gray) with Nero accents, just like its sibling. In addition to gloss Nero headlamp buckets, parking and tail lamps, it is fitted with 16-inch alloys with a Nero chrome finish. Setting itself apart, the signature Abarth bodyside stripes (and mirror cap) are Grigio in color and there is a large Abarth "Scorpion" logo on the roof. Inside the cabin, the Tenebra features performance seats with leather upholstery, a flat-bottom steering wheel and other cosmetic upgrades. Like the Cattiva, the Beats Audio system is standard.

Italian government to lean on Fiat's Marchionne to commit to country

With the recent chatter that Fiat is looking to move its global headquarters to the US following a complete merger with Chrysler, the Italian government is voicing its opinion on the matter. Facing the potential job loss from the automaker leaving the country, Italy's industry minister is meeting with Fiat CEO Sergio Marchionne in what will likely be a plea to keep the company based in Turin rather than moving to Auburn Hills, MI - if indeed it is able to acquire the additional 41.5 percent of Chrysler currently owned by the United Auto Workers.
According to Bloomberg, Fiat is Italy's biggest private employer and unemployment is already nearing a 20-year high. The non-car side of Fiat, Fiat Industrial, is already planning a move to the UK, so it goes without saying that Fiat moving would be a pretty big blow for the Italian economy. In the article, Fiat says that the headquarters issue is "not on its agenda now," but that statement is far from a denial.