In a 42-day turnaround in bankruptcy court, the Chrysler automaker is now owned by the Italian company, Fiat. A Treasury official stated that Chrysler is now poised to become a viable, competitive company. When you look at the marketplace Chrysler/Fiat will be operating in, it seems that it will be brutal.
789 dealerships have now been closed or are selling only used cars. The company will still build Chrysler, Dodge, and Jeep vehicles, at least for now. The first newly redesigned vehicle will be a new Jeep Grand Cherokee that will be a bit smaller and more fuel efficient. Fiat's technology will be one of the biggest benefits it will bring to Chrysler who is known for large vehicles.
Smaller, more fuel efficient compact and sub-compact cars will be introduced later. The Fiat 500 is expected to be sold by Chrysler dealers. Fiat expects to expand Chrysler's product line in North America and around the world.