Chrysler Last to Reach Deal with CAW

In keeping with recent announcements regarding Detroit automakers Ford F and General Motors GM, Chrysler FIATY has joined the ranks of its competitors that have reached final agreements with the Canadian Auto Workers (CAW) union. The four year agreement was reached on Wednesday, and consists of similarities to the agreements reached with the other automakers. Those similarities include the elimination of cost of living expenses in exchange for bonuses, a lowered starting wage and an extension of the time it takes for workers to reach the top pay range. Chrysler stood to lose the most from the labor strike as its best-selling minivan lineup (Chrysler Town & Country and Dodge Grand Caravan) is manufactured in Windsor. The vans were two of the company's top five sellers in 2011, while sales of the Chrysler 300 (manufactured in Brampton, Ontario) rose an astounding 158 percent in 2012 alone. CAW union President Ken Lewenza is pleased with the agreement, as he was with Ford and General Motors. Lewenza believes that Chrysler and Fiat CEO Sergio Marchionne has more to worry about with vehicle sales and production in Europe rather than in Canada. In other Chrysler news, the company's Ram division has unveiled plans to create a new campaign to attract fleet buyers and small businesses to its Heavy Duty lineup. President of the Ram truck Brand Fred Diaz wants to fill the commercial end of Chrysler's business by making its Ram products fit the needs of any and all commercial buyers. The Ram line is manufactured in Mexico and at the company's Warren Truck Assembly plant in Warren, Michigan. Shares of Chrysler/Fiat are down 5.1 percent premarket and up 21.57 percent year-to-date. Pending the troubles overseas, the company will still see a positive impact from happy workers in Canada, ensuring that production will not be an issue. Chrysler's Ram Truck has been named Motor Trend's Truck of the Year three times since the debut of its second generation in 1994, the most recent being in 2010.