TD Bank Buys Chrysler Financial From Cerberus

Toronto-based TD Bank will purchase Chrysler Financial for $6.3 billion. Despite being named Chrysler Financial, the company is no longer owned by the automaker, but held by former owner and destroyer of worlds — Cerberus. If you do the math, Cerberus paid $7.4 billion for 80% of Chrysler, then easily shed it in the… » 12/21/10 9:30am 12/21/10 9:30am

GM-Chrysler Merger Rumor Roundup: Deal To Be Done By Halloween,…

The WSJ » 10/17/08 9:20am 10/17/08 9:20am reports today (via Automotive News) Cerberus and GM are moving full-steam-ahead in their efforts to get a GM-Chrysler deal done by the end of October. Today also brings news Renault may have their hand in the cookie jar too, negotiating for one or more parts of Chrysler and leading to speculation the Auburn…

GMAC Now Officially Requires 700-Plus FICO Score For New Car Loan

The Financiapocalypse » 10/13/08 6:20pm 10/13/08 6:20pm continues. We just received a copy of an e-mail that went out at GMAC, the lending arm jointly owned by GM and Cerberus, from Barbara Stokel, GMAC's EVP of North American Operations. Here's the most salient detail: you'll now need a minimum 700 to get a car loan at dealer invoice or below from…

Daimler Wants To Wash Hands Of Chrysler, Sell Remaining 19.9% To…

Daimler was obviously unimpressed by Chrysler's electrically » 9/24/08 2:20pm 9/24/08 2:20pm yesterday, as word comes today the German automaker is in talks to sell Cerberus its remaining 19.9% stake in Chrysler. If terms are agreed upon, the sale would mark the end of Daimler's involvement in the Auburn Hills automaker a mere ten years after…

WSJ: Chrysler And Nissan Discussing Mid-Size Car Collaboration

While we've previously reported on the Chrysler/Nissan small-car/pickup-truck mind meld, the Wall Street Journal now says the two companies are discussing collaboration on a mid-size vehicle platform. The report states that the agreement currently under consideration would have Nissan building mid-size sedans that… » 8/07/08 4:00pm 8/07/08 4:00pm

Being Bob Nardelli: One Year At The Top Of Chrysler

The Detroit News reports today on the marriage of Chrysler and Cerberus Capital Management, which took place one year ago this week. Robert Nardelli, former head of Home Depot, beat out Tom LaSorda and Wolfgang Bernhard for the top job at the new Chrysler, joining an already troubled automaker just at the edge of what… » 8/05/08 2:00pm 8/05/08 2:00pm

Report: Fewer Web Shoppers Researching Chrysler Products

Chrysler July sales dropped below the 100,000 unit mark as consumers began to show signs that they've lost confidence in the company, reports Automotive News. While Chrysler's announcement that it would suspend leasing August 1 caused a last-minute flurry of shoppers, more ominous was a report by Complete.com that… » 8/04/08 1:00pm 8/04/08 1:00pm

Jeep Compass, Patriot To Get Upgraded Interior For 2009

The Jeep Compass (the Jeep MK platform for the ladies) and Patriot (the Jeep MK platform for the boys) will be getting revised interiors with softer lines for 2009, according to a first look at some Mopar dealer catalogs scanned by the Chrysler forum fan-boys at Allpar. Gone are most of the hard-edged "plastic box"… » 8/04/08 9:20am 8/04/08 9:20am

Chrysler In Talks To Sell Jeeps In India, Fiats In North America

According to Automotive News, Cerberus is engaged in behind-the-scenes talks with both Tata Motors and Fiat regarding sales and manufacturing linkups. Chrysler wants to use Tata to gain a foothold for its Jeep Wrangler in Indian and Asian markets. More intriguingly, the company is reportedly talking to Fiat about the… » 7/31/08 10:40am 7/31/08 10:40am

New Chrysler Minivans Selling So Well They're Closing The Factory

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." » 7/01/08 11:00am 7/01/08 11:00am

Merrill Lynch "Car Wars" Report Claims Cerberus Readying Chrysler For…

The new Dodge Challenger is hitting showrooms. The 2009 Dodge Ram launch is scheduled for fall. But it's the sounds of silence after that when it comes to product. What's going on? One influential industry study, the Merrill Lynch "Car Wars" report (yes, that's it's real name), states Chrysler's lack of new product… » 6/30/08 10:00am 6/30/08 10:00am

Iacocca Arrives At Chrysler As Bankruptcy Rumors Swirl; Time Travel…

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,"… » 6/27/08 10:30am 6/27/08 10:30am

Careful With That Axe, Nardelli: Chrysler June Sales Plummet

As further evidence that Cerberus bit off far more than it expected with its purchase of Chrysler last fall, an internal memo revealed to the Free Press shows that the last few months have been even worse than Chrysler expected. In fact, June numbers are showing an industry-wide disaster looming, with total U.S.… » 6/18/08 1:20pm 6/18/08 1:20pm