Fiat SpA News

There is a "better than 50 percent chance" that Italian automaker Fiat SpA will increase its stake in Chrysler Group LLC in July, Chief Executive Sergio Marchionne said on Thursday.

Mazda Motor Corp. and Fiat SpA are working together on developing and manufacturing a roadster, or two-seater convertible, although the automakers will come up with different, distinctly styled models.

The price of oil is holding near seven-month lows following warnings of a "severe recession" in Europe and easing tensions over Iran's nuclear program.

Mazda Motor Corp is in talks with Fiat SpA to form a business tie-up, a source said, as the loss-making Japanese automaker seeks a revival path after losing its strategic partnership with Ford Motor Co.

Reports from Italy say Chrysler Group LLC's parent company, Fiat SpA , plans to lay off approximately 5,000 white-collar workers at its Mirafiori complex in Turin for three days in June and three days in July because of a dramatic decline in automobile sales in the country.

Chrysler Group LLC, the automaker controlled by Fiat SpA, said its U.S. sales rose 20 percent in April as the company begins seeing tougher comparisons to sales results that started accelerating this time last year.

Chrysler Group LLC made strong commitments to downtown Detroit on Monday, as CEO Sergio Marchionne confirmed that he and up to 70 workers will set up a downtown office in a building that will be renamed the Chrysler House.

A 2013 Dodge Dart sits on display during a press conference at the Chrysler Group LLC assembly plant in Belvidere, Illinois.