Fiat Chrysler Debuts On NYSE

(RTTNews) - Fiat Chrysler Automobiles NV (FCAU) Monday made a debut on the New York Stock Exchange, with its shares opening $9 and soon gained 55 cents, only to pull back later. The stock traded at $8.96 midday.

Fiat Chrysler Automobiles NV was created with the merger of Chrysler Group and Fiat S.p.A. on October 12. Fiat Chrysler stock today moved to the NYSE today from the Milan Stock Exchange.

The combination of Auburn Hills-based Chrysler Group LLC with Turin, Italy-based Fiat S.p.A forms the seventh-largest global automaker.

The new Fiat Chrysler will be legally registered in the Netherlands with a London headquarters.

The company, which aims to ramp up vehicle sales by 60 percent, offers iconic sports cars by Ferrari and Maserati, Fiats, minivans, Ram pickups and Jeep sport-utility vehicle. The company expects to be a strong rival to General Motors and Ford Motors.