Sales figures for new vehicles at the big three U.S. automakers (I, II, III) topped year-ago levels and were near their best levels since before the financial crisis, but General Motors (GM -4.6%) lagged Edmunds.com estimates, posting 12% sales growth in March vs. 21% predicted. Ford (F +0.2%) and Chrysler (FIATY.PK -2%) were in-line.
The UAW-Chrysler (FIATY.PK) deal includes an initial signing bonus of $1,750 per worker, matched again if the carmaker meets profit targets. The pay scale for entry-level workers lines up with rates previously negotiated by Ford (F +3.4%) and General Motors (GM +3.8%), while no cap exists for entry-level hires until 2015. Shares of parent Fiat are up 9.7%.
Fiat S.p.A. Torino is the holding company of the Fiat Group. Through its subsidiaries, Co. is engaged principally in the manufacture and sale of automobiles, commercial vehicles and agricultural and construction equipment. Co. is organized into operating sectors, divided in the two major...More