FCA CEO Sergio Marchionne finally had some good news to share with the public and his investors, the company has penned a deal that will give it access to $2.8 billion that are currently held in its North American-based operations known as FCA US, formerly known as Chrysler Group LLC.
Restrictions had been placed on these funds back in May 2011. Marchionne had promised to pay off the debt of FCA US as quickly as possible when Fiat bought Chrysler, "for the benefit of the rest of the rest of the FCA Group."
A FCA company statement states:
“The Amendments represent the final step toward allowing the free flow of capital among members of the FCA Group, as previously announced, and enabling access to the second 2.5 billion-euro tranche of FCA’s 5 billion-euro syndicated revolving credit facility.”
The newly available funds can now be utilized to fuel FCA's aggressive business plan that runs through to 2018.
That plan includes significant expansion of FCA brands Jeep, Maserati, and Alfa Romeo.
With regards to Maserati and the Alfieri, it appears that Maserati will indeed benefit from the influx of capital, but it has not altered the brand's decision to delay or cancel the Alfieri.
Maserati CEO Harald Wester told Motoring at the Geneva Motor Show
that he had "no comment" on the Alfieri and its status beyond what had already been said. He added:
“the next one will be substitution of GranTursimo, GranCabrio by successors."
A slowdown in China has caused FCA to refocus its model plans towards products that will appeal more to North American and European customers. This precipitated the delay of the Alfieri, as well as an even greater focus on Jeep SUVs, Ram trucks, the Maserati Levante and the Alfa Romeo CUV range.
Wester also decreased the sales goal for Maserati, adjusting it to 50,000 by the end of the decade, instead of 75,000.