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Fiat today exercised an option to raise its stake in Chrysler by 3.3 percent.

The move is part of CEO Sergio Marchionne’s step-by-step purchases intended to lead to full control of Chrysler and the creation of a merged company that would be able to compete better with industry leaders Toyota, General Motors and Volkswagen.

Fiat has been exercising options since mid-2012 to buy holdings of about 3.3 percent from the VEBA, a medical-benefits trust for the U.S. carmaker’s retirees.

Including today’s purchase, Fiat has exercised three of its six-monthly options, increasing its stake to 68.49 percent.

Fiat has said it wants full control of Chrysler, which would give it access to some of Chrysler’s cash flow for investments in new models.

Chrysler has become Fiat’s most reliable profit generator as the Italian company struggles to end losses in Europe that totaled 704 million euros ($903 [...]

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MTC Auto Sales. Welcome to MTC AUTO SALES, serving the Ottawa/Gatineau area since 2006. We've been in your community building a long-time customer base that is loyal and thoroughly satisfied. Whether you are new to MTC AUTO SALES or already part of the family, we are committed to making your experience the best you've ever had. We have a lot of different body styles and all vehicles are sold certified & e-tested with car proof history, we finance good, bad, and no credit! Extended warranty is available on all vehicles. Things we do that have nothing to do with Safety Standards such as: - Oil change- Air filters- Fuel filters- Pollen/cabin filter- Transmission fluid flushes- Squeaks and rattles- Heating/cooling systems- Tire balancing- Wheel alignment WHY CHOOSE US? LATEST AUTOMOTIVE NEWS