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to reporters at the Frankfurt Motor Show, the Fiat C.E.O. explains how surprised Fiat was at how little has been done at Chrysler. Well, other than the new Sebring hood. (Hat tip to Chuckie_A) [CNN] More »
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After clearing a few legal hurdles, Chrysler and Fiat have now signed an alliance bringing together the two companies. Fiat will own 20% of the new Chrysler Group with Fiat head Sergio Marchionne as CEO. More »
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Chrysler LLC announced today C. Robert Kidder, former Chairman of Borden Chemical Inc. and Duracell (yes, the battery maker) will become Chairman of Chrysler Group LLC after completing its acquisition of the operating assets of Chrysler LLC and completing a global alliance with Fiat, succeeding Bob "The Builder" Nardelli. Boring. More »
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People say "Detroit" deserves to fail. Maybe, but as you can tell by the map below of every manufacturing facility from the domestic automakers, they'll take pretty much the entire Midwest with 'em. More »
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Michigan Senator Carl Levin remarked during a local debate Monday that the federal government might be agreeable to greasing the squeaky wheel in any GM takeover of Chrysler, reports the Detroit News. "No other country in the world would stand by and watch major corporations go under this way without trying to do something about it," said the senator, acknowledging that a merger could result in job losses, but an outright failure of one or both of the automakers would produce far more devastating results to the state economy. So what kind of aid might be on the way? More »
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Chrysler LLC is reporting September sales declines of 32.8% over the same period a year earlier, with results battered by the same economic forces other automakers are up against. Chrysler Finance also discontinued leasing at the end of July, marking September as another month Chrysler dealers had to find alternative sources of lease financing; Chrysler has tried to provide interest rates and loan terms that provide payments similar to lease payments consumers have been used to. More »
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Concerns about Chrysler's lack of upcoming product are unfounded, reports the Detroit Free Press. Chrysler President and Vice Chairman Jim Press has promised at least seven new models for 2010, with as many as nine possible during a period he called Chrysler's upcoming "product renaissance." So how come Chrysler's new lineup has been kept such a secret? "We don't have enough money for a PR stunt. All we have is enough money to build a car that we can sell," Press said during a San Francisco speech. We're going to assume he meant "enough money to build nine cars that we can sell." A look at what's coming after the jump. More »
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Following the suspension of leasing by Chrysler Financial, Chrysler LLC has announced a new strategy to lower vehicle purchase payments to about the same price point that consumers were accustomed to with leasing. In addition to a model year-end promotion called "Shop 'Til You Drive," Chrysler will be expanding the vehicles eligible for 72-month loans, expanding cash incentives, in some cases to as much as $2,000, and providing additional cash incentives to customers coming off-lease. Automotive News reports that some Ram trucks will be getting discounts of as much as 40% off sticker price in an effort to clear inventory, and that Chrysler dealers will be encouraged to "think in terms of the kinds of clearance sales that department stores have." Full release below the jump. More »
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Chrysler LLC revealed a $515 million first-quarter 2008 loss, despite the fact that the privately held firm isn't required to discuss earnings. So what gives? Ex-lover Daimler spilled the beans Thursday, stating that its 20% stake in Chrysler lost about $105 million in value. The Detroit News did some quick math, multiplying Daimler's loss by five, and a Chrysler spokesperson eventually confirmed that the number was in the half-a-billon dollar neighborhood. More »
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Come Halloween, Chrysler will idle its St. Louis South minivan plant indefinitely. And, just so the 1,500 employees at St. Louis South are clear about the meaning of "idle indefinitely," co-president Tom LaSorda said, "We see no intent to rerun this plant. We're idling it and it will likely be fully closed." More »
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Former chairman Lee Iacocca gave a closed pep rally to Chrysler employees yesterday in Auburn Hills, once again sharing the stage with a K-car, a minivan...and rumors of Chrysler's imminent bankruptcy. While current CEO Bob Nardelli was praising Iacocca as "Chrysler's most dynamic leader" and "a great American," Chrysler spokesman David Elshoff was telling reporters that rumblings about a forthcoming bankruptcy filing by the automaker were "without merit." Presumably addressing the present state of the industry, Iacocca said, "We'll live through it. Don't panic. Things are going to be OK." To fix the current management problems, Iacocca suggested outfitting Nardelli with wire wheel covers and a vinyl landau roof, then sending him back into the boardroom and hoping everyone would think he was a totally new CEO. More »
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Chrysler announced earlier in the year their intention to offer in-vehicle WiFi capability, and we'll be damned if they didn't actually go and do it. Beginning in August, customers will be able to get in-vehicle wireless Internet connectivity across nearly the entire Chrysler product line — even if it's not an Avis rental car. The technology will be bundled under the UConnect name, and is intended to compete with the Ford/Microsoft Sync system. Before you cancel your DSL, note that the router module will cost $449, plus another $50 for installation (which should really be free if you're offering to take a Sebring off their hands), and then add $29 per month for Web access. Add a coffeemaker and the office just got one step closer to irrelevance. More »
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Cerberus Capital Management is not second-guessing its 2007 purchase of Chrysler from Daimler, and the the business is "on track," Chrysler LLC CEO Robert Nardelli said Tuesday at a Wall Street Journal press conference. Nardelli has been facing speculation that Cerberus got in over its head with the Chrysler purchase, particularly in light of U.S. sales that are down 25.4 percent in May and 19.3 percent for the year to-date compared with the same period a year ago. We suspect Cerberus is speculating that Nardelli got in over his head when he took the top spot. More »
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Who knew Chrysler would drop so far in the mid-size market that new CEO Bob Nardelli would find it necessary to create a "skunk works" team comprising every piece of the vehicle development process in order to come up with the company's next-generation mid-size vehicles. Apparently the Sebring wasn't quite the bee's knees. Who knew? More »
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Jason Vines, Chrysler's Vice President of Communications, a.k.a. Chysler's Press Guru, a.k.a. the man tasked with yelling back at Maximum Lutz, has stepped down today, according to the company. What this all means isn't immediately certain, as we haven't seen the press release from another manufacturer stating that they've just hired Jason Vines. But we're happy to reuse this picture from our coverage of the Dodge-Peta fiasco Vines was tasked to handle. Look for conspiracy theories later in the day. In the meantime, sort of meaningless corporate speak below the jump: More »
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