Chrysler Group Changes Name to Mirror Parent Fiat -- Update

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 [e-mail]

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