The new Dodge Dart is a very important model not only for the Dodge brand, but also for Fiat, which will get its final 5 percent share in Chrysler after the Dart will be certified by the EPA.
Fiat Chrysler CEO Sergio Marchionne said in an interview with Reuters that the car’s fuel efficiency will be certified at 40 mpg or more by the end of the month. Provided that the Dart is certified at 40 mpg by the end of this year, Fiat will automatically receive a further 5 percent share in Chrysler, as stated by the 2009 agreement with the U.S. government. This would bring the Italian automaker’s share of Chrysler Group to 58.5 percent, with the remainder of the company being owned by the UAW’s retiree health care trust.
According to Marchionne, Fiat’s ownership stake in Chrysler Group would increase “after the last dilution event, which will happen hopefully this month.” Under the 2009 agreement, Fiat will receive the final 5 percent of stock when it has certified a vehicle that will be built in the U.S. and that will achieve an unadjusted fuel economy rating of at least 40 mpg.
The 2013 Dart is the first of at least eight Chrysler Group models that will be built on Fiat’s CUSW platform, including the replacement for the Jeep Liberty. The Dart will be built at Chrysler’s Belvidere, Illinois plant and make its official debut at the 2012 Detroit auto show in January.