Complaints made to Congress from GM and Chrysler dealerships has led to a House approved $1.1 trillion spending bill. This bill will give dealerships a chance to dispute their closure depending on their past success. G.M. and Chrysler proposed their own review processes last week in an effort to keep Congress from getting involved, but their proposal was rejected.<\/p>\n
Today, Chrysler came back challenging the decision, calling it ‘unconstitutional legislation’. Sergio Marchionne (CEO of the Fiat and Chrysler Group LLC and Chairman of the European Automobile Manufacturers Association) said that restoring large numbers of dealerships could cause havoc within Chrysler. \u201cWe are in a completely different position than G.M.\u201d he said. G.M. has about $42 billion in cash in September, paying back $6.7 is easier than it would be for us.\u201d Mr.. Marchionne also said G.M. was more focused on repaying the loans because the government owns 60% as opposed to 10% of Chrysler. Chrysler\u2019s majority shareholder is the United Automobile Workers union\u2019s retiree health care trust. <\/p>\n
Chrysler is planning to make investments that would provide jobs and other economic benefits. Building a fuel-efficient engine with Fiat technology in the United States is one of three goals that each allow Fiat to gain an additional 5 percent of Chrysler<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Complaints made to Congress from GM and Chrysler dealerships has led to a House approved $1.1 trillion spending bill. This bill will give dealerships a chance to dispute the closure of their dealership depending on the past success of the dealership. G.M. and Chrysler proposed their own review processes last week in an effort to keep Congress from getting involved, but their proposal was rejected. Continue reading