Ally Financial Tapped to Finance Fiat Vehicles

By: AP
By: AP

AUBURN HILLS, Mich. (AP) -- Chrysler says Ally Financial will be the lender of choice when it begins selling Fiat vehicles in the U.S. later this year.

Chrysler will begin naming its Fiat dealers in October and hopes eventually to launch 165 Fiat dealerships in the U.S.

Ally Financial Inc., formerly called GMAC, is already main lender for Chrysler dealers and customers. Chrysler dealerships who get Fiat franchises will be asked to set up separate showrooms and will start by selling the Fiat 500 minicar in December. Larger models from Italy's Lancia brand may come later.

Chrysler Group LLC has been run by Fiat CEO Sergio Marchionne since it emerged from bankruptcy protection last year.

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