There is only one Government Motors. As of today the federal government has sold its last remaining shares in Chrysler Corp. to Italian automaker Fiat for $500 million. This gives Fiat complete control of the iconic American auto giant and closes the last official chapter of the Chrysler bankruptcy. The government still owns 20-plus percent of GM, which the company hopes it will be able to sell soon.
Analysts have estimated the government lost $1.3 billion on the $12.5 billion it invested in Chrysler and its finance arm Chrysler credit. Fiat now owns 53.3 percent of the company after buying the Canadian government’s shares as well last month.
All that’s left to be written of Chrysler’s Carpocalypse is the epilogue: the final liquidation of Old CarCo, the remaining assets of the bankrupt former Chrysler. And we’ll stay tuned for the government’s final spinoff of its stake in GM.
—Eric Evarts












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