The name “Chrysler Group LLC” is now nothing but a memory. This came after Fiat Chrysler Automobiles disclosed that it Chrysler Group is now legally known as FCA US LLC. Fiat Chrysler also disclosed that Fiat Group Automobiles SpA is now known as FCA Italy SpA. The new name effectively removes the name of founder Walter P. Chrysler from the company.
Fiat Chrysler said in a statement that the name change does not affect Chrysler Group’s base location in Auburn Hills, Michigan, its holdings, management team, board or brands. The company added that FCA US LLC “remains proud of its joint heritage” and that the company continues to “build upon the solid foundations” set by Walter P. Chrysler in 1925 and a “rich Fiat heritage that dates from 1899.”
The name change also does not affect the names of its US brands -- Chrysler, Dodge, Jeep, Ram, Fiat and Alfa Romeo – as well as their marketing efforts. Ed Garsten, FCA US’s head of digital media, explained in the company’s Web site that the name change is part of the changes underway since Fiat Chrysler Automobiles was created in October.
He noted that despite the change, FCA US’s commitment to quality, style, performance and service hasn’t changed. He added that the new name reflects FCA US’s in the new company.
However, it is not only Chrysler that is losing its name, but also Fiat, which stands for “Fabbrica Italiana Automobili Torino” or “Italian Auto Factory Turin."
The company said the change was made to emphasize the fact that all Group companies globally are part of a single organization. Other Group companies in other operating regions will also have their names changed.
Before becoming FCA US LLC, the company started off as Chrysler Corporation in 1925. This name continued for more than seven decades until 1998. In 1998, Daimler-Benz and Chrysler Corp. formed a merged partnership with a 50-50 ownership. By then, Chrysler Corp. then was renamed as DaimlerChrysler AG. Chrysler began doing business as Chrysler Group. DaimlerChrysler was initially declared to be a merger of equals, but when Chrysler Chairman and Chief Executive Office Bob Eaton retired, Daimler took majority control.
In May 2007, DaimlerChrysler AG announced that it would sell 80.1 percent of its stake in the Chrysler Group to Cerberus Capital Management for US$7.4 billion. Chrysler Group became Chrysler Holding LLC, which was renamed Chrysler LLC once the sale was completed. DaimlerChrysler AG changed its name to Daimler AG.
Then in April 2009, Chrysler LLC filed for Chapter 11 bankruptcy. In June that year, Chrysler LLC sold most of its assets to “New Chrysler", formally known as Chrysler Group LLC. Fiat initially owned 20 percent of Chrysler Group.