Chrysler

Chrysler, one of the big three US auto manufactures, reported first quarter earnings four times the level of last year as US retail sales increased 40%. Net income was $473 million in the first quarter of 2012 compared to $116 million a year earlier, the Auburn Hills, Michigan-based company...

Perhaps one day they will make a movie about it. The Big 3 of Chrysler, Ford (NYSE: F) and General Motors (NYSE: GM) has now become an all-too-comfortable metaphor for the three companies' hometown of Detroit. Staring the end of the line in the face, insolvency a very real threat and bankruptcy...

The recent struggles of A123 Systems (NASDAQ: AONE) has investors and market participants asking a very important, and very valid question – Can the company survive? Analysts and accountants at Benzinga have done a thorough, in depth analysis of the company's balance sheet and past performance,...

Chrysler Group LLC and the UAW have reached a tentative agreement on a new national labor contract, covering approximately 26,000 represented employees. The agreement is subject to UAW member ratification.

Whisper it. Do not jinx it. But it appears as if the long-suffering residents of Detroit and, in fact, Michigan, have reason to be hopeful for a far, far brighter future. There still plenty of problems in the D, despite the oft-misguided efforts of well meaning Governor Rick Snyder. But over the...

Moody's (NYSE: MCO) said all the political posturing in Washington could lead to the rating agency downgrading U.S. debt if no progress is made on increasing the debt limit. The Securities and Exchange Commission is investigating some accounting firms over their audits of Chinese companies....

There's a new trend for Detroit businesses: IPOs. It began last November when Reuters reported that the beleaguered automotive corporation General Motors (NYSE: GM) had the largest IPO on record, raising over $20 billion. According to The Detroit News, Delphi intends to follow suit, as the...

Chrysler Group LLC today reported U.S. sales of 115,363, a 10 percent increase compared with sales in May 2010 (104,819 units), and the best May sales since 2008.

Fiat wants to own the majority of Chrysler by the end of the year, as it has announced it wants to buy the 1.7% stake that the Canadian government owns in the automaker. Fiat CEO Sergio Marchionne stated he had conversations with Canadian Finance Minister Jim Flaherty about potentially...

Fiat notified the U.S. Treasury of its intent on Friday to buy the government's stake in Chrysler, making it a majority shareholder of the automaker. A deal with Treasury would translate to Fiat holding a 52% ownership stake in Chrysler. A deal is expected to be negotiated within 10 business days...

It's not often that a company can turn a negative into a positive, but that is exactly what Chrysler did this week. Wednesday, the world-class carmaker announced it had paid back the U.S. and Canadian governments the balance of their loans a full six years ahead of schedule. The loans, which had...

As analysts weigh in on Ford's (NYSE: F) impressive earnings and subsequent rise, the Center For Automotive Research is providing a few comments of its own. “We are very much impressed,” Bernard Swiecki, Senior Project Manager at CAR, told Benzinga this afternoon. “They've come a long way very...

Cummins (NYSE: CMI) is scheduled to report first-quarter 2011 results before Tuesday's opening bell. Analysts are looking for the Indiana-based maker of engines and power generators to post earnings of $1.44 per share. That is a jump from per-share earnings of $0.75 in the same period of last year...

Italian automobile manufacturer Fiat confirmed on Tuesday that it had upped its stake in Chrysler to 30%, a move that saw another 5% of Chrysler's shares going to Fiat. Fiat S.p.A., an acronym for Fabbrica Italiana Automobili Torino, has bought into Chrysler after its bankruptcy. Both companies...