Auto Industry, Treasury Department | featured news

The Treasury Department said on Thursday it reached an agreement to sell its remaining 6 percent equity stake in Chrysler to Italy's Fiat in a deal that will net Washington $560 million.

The Treasury Department has sweetened its offer to holders of Chrysler’s secured debt in a last-minute attempt to keep the iconic American automaker out of bankruptcy court, according to people briefed on the matter.

Chrysler’s unsecured creditors have reached a preliminary deal with the Treasury Department, two people briefed on the matter said on Tuesday.

The U.S. Treasury Department on Thursday pledged to provide up to $5 billion in financing support to auto suppliers to help them survive a massive downturn in car sales.