By Angela Chen
Auto maker Chrysler Group LLC has changed its company name to
FCA US LLC, marking the end for one of the more iconic corporate
automobile names in the U.S.
The move, effective immediately, follows the naming convention
of parent company Fiat Chrysler Automobiles NV, which made its
debut on the New York Stock Exchange in October. The company's
Italian operation, formerly Fiat Group Automobiles SpA, has
similarly changed its name to FCA Italy SpA.
Chrysler, one of the "Big Three" American car companies along
with General Motors Co. and Ford Co., was founded in 1925. It
merged with German car maker Daimler-Benz AG in 1998 to become
DaimlerChrysler, but reverted to Chrysler LLC after the two
companies split nine years later. Fiat became Chrysler's majority
shareholder in 2011 and in January gained full control of the
company in a $4.35 billion deal.
Fiat Chief Executive Sergio Marchionne had long expressed
interest in reorganizing his company to create Fiat Chrysler
Automobiles, a new company with a tax residency in the U.K., legal
headquarters in Amsterdam and primary stock market listing in New
York.
Fiat Chrysler's October debut on the NYSE came at a critical
time for the U.S.-Italian company, the seventh-largest auto maker
in the world, which is battling losses in Europe and a sales
slowdown in South America.
Although Chrysler has been doing well recently--with profit in
the most recently ended quarter climbing 32%--it has been dodged by
troubles from a recall of Takata air bags, linked to malfunctions
in other cars, that were also used in some of its models.
The name change won't affect management, and the company will
continue to be based in Auburn Hills, Mich.
Write to Angela Chen at angela.chen@dowjones.com
Access Investor Kit for Daimler AG
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=DE0007100000
Access Investor Kit for Daimler AG
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US2338251083
Access Investor Kit for General Motors Co.
Visit
http://www.companyspotlight.com/partner?cp_code=P479&isin=US37045V1008
Subscribe to WSJ: http://online.wsj.com?mod=djnwires