Fiat to Axe Lancia Brand of Rebadged Chryslers
Fiat– Chrysler CEO Sergio Marchionne made a series of significant announcements in a teleconference earlier today, not the least of which is the termination of the Lancia brand.
With all the financial turmoil in Europe these days it’s not surprising Marchionne thinks Fiat-Chrysler will post a loss next year; it’s estimated at $900 million. He does not expect to turn a profit until 2015 at the earliest.
As for Lancia, it will live on for awhile at least, according to one Chrysler spokesman. It is unlikely significant amounts of money will be invested in it. Right now half of its lineup consists of rebadged Chryslers including versions of the Town & Country, 300 sedan and 200 convertible.
[Source: The Truth About Cars]
Born and raised in metro Detroit, Craig was steeped in mechanics from childhood. He feels as much at home with a wrench or welding gun in his hand as he does behind the wheel or in front of a camera. Putting his Bachelor's Degree in Journalism to good use, he's always pumping out videos, reviews, and features for AutoGuide.com. When the workday is over, he can be found out driving his fully restored 1936 Ford V8 sedan. Craig has covered the automotive industry full time for more than 10 years and is a member of the Automotive Press Association (APA) and Midwest Automotive Media Association (MAMA).
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