AvtoVAZ, Russia’s Largest Car Maker May File for Bankruptcy

Russia’s largest car producer, AvtoVAZ, has announced it may have to file for bankruptcy due to losses and spiraling debts, but that production will not be halted. Executive vice-president Oleg Lobanov told reporters: “In such an event, we...

Chrysler And Fiat Announce Alliance to Form New Company

Chrysler has announced an agreement in principle to establish a global strategic alliance with Fiat SpA to form a new company.

Fiat to Receive 35% Stake in Chrysler

Fiat, Chrysler and Cerberus Capital Management L.P., the private investment majority owner of Chrysler LLC, have announced they have signed a non-binding term sheet to establish a global strategic alliance.