News - Fiat/GM Agreement Conclusion

[Steven]

Well, it looks like Fiat have won the day in the disagreement over the 'put' option. GM are to pay Fiat 1.55 billion euros to get out of the deal! Powertrain will be wound up although GM will continue to buy Fiats diesel engines.

Check Italiaspeed for the latest details and I'll post Fiats official press release when it arrives.

 

[Dr_Pepper]

Thanks Steve, interesting news indeed.

 

[smurfhead]

Good news then. Lets hope FIAT reinvest this in themselves very wisely.

 

[Steven]

It's on the BBC News site;

http://news.bbc.co.uk/1/hi/business/4263125.stm

 

[jasper]

Fantastic news...lots of cash and complete independance is exactly what Fiat needs IMO. I'm sure that with the new management structure and new talent that they have put in charge, the money will not go to waste.

Long live Fiat...woo hoo!! (not to mention Alfa/Maser/Lancia et al)

 

[Nuova500]

Read that last night, fantastic news, we should be partying now!!!

 

[Steven]

It is great news. I reckon GM held Fiat back. Hopefully we'll see Fiat moving on with projects like the X1/99 and the Trepiuno. Luca De Montezola (sp) knows how to build superb cars, lets hope he does the job.

 

[smurfhead]

I think the sucess of the new Punto, the X1/99 and the Trepulino is going to be pivotal for FIAT. I believe it is going to be a reoccurance of those days in the early 90's where FIAT were make bns of profit and had a very respected well balanced range with the first Puntos, Cinqs and the Coupé. LEts hope it doesn't land on its arse and FIAT market their products successfully and after sales service improves as I believe not just this decision, but still thenext few years for them are so important. There is the potential for success, they just need to utilise it.