© 2025 MICHIGAN PUBLIC
91.7 Ann Arbor/Detroit 104.1 Grand Rapids 91.3 Port Huron 89.7 Lansing 91.1 Flint
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
Flint listeners: WFUM 91.1 FM continues to undergo maintenance and will be at low power throughout the week. We expect there to be periodic outages. We apologize for the inconvenience and appreciate your patience. Click here to find other ways to listen.

U.S. government ends Chrysler investment; Fiat takes over

chrysler logo
Ricardo Giaviti
/
Flickr / http://j.mp/1SPGCl0
The U.S. government is no longer invested in Chrysler.

WASHINGTON (AP) - The Treasury Department says it has ended its investment in Chrysler LLC after Italian automaker Fiat SpA purchased the U.S. government's remaining holdings in the auto company.

Fiat paid $560 million to the Treasury Department for the government's 98,000 shares. Fiat has run the company since it emerged from bankruptcy protection in June 2009.

Treasury provided a total of $12.5 billion to Chrysler and its financing arm after the recession hampered auto sales and sent Chrysler and General Motors to the brink of collapse. The funds came from the government's $700 billion bank bailout fund.

Since then, $11.2 billion of the assistance has been repaid, Treasury says. Chrysler repaid $5.1 billion in loans from the government in May. Treasury said it likely won't recover the remaining $1.3 billion.

The Associated Press is an independent global news organization dedicated to factual reporting.
Related Content