GM is Out...But Hyundai Might be the Next Chrysler Suitor
Last week it was reported that GM had suspended all talks with Chrysler about an apparent merger after the U.S. treasury denied GM's request for aid to buy Chrysler. Now it're being reported that Hyundai may be interested.
According to Reuters, Hyundai and Chrysler's owners, Cerberus Capital Management, have been in talks about Hyundai acquiring the Jeep brand. Both automakers have not released an official statement about the discussions.
Fiat to Kill Most of Chrysler's Current Models
Chrysler is expected to unveil its 5-year plan next week on November 4th, but the Wall Street Journal has revealed many of the details we can expect to hear next week.
The plan is calling for the end of many of the Chrysler models that are currently in US showrooms. Many of the models will be replaced by vehicles from Fiat and Alfa Romeo.
Expect more details next week, but for now here's a list of what models we can expect to see either die or survive...
Chrysler Files for Chapter 11, but Comes to an Agreement with Fiat
President Obama has officially announced that Chrysler will enter into Chapter 11 bankruptcy proceedings and on a more positive note the automaker has finally reached an agreement with Fiat and will enter into a partnership. The Chrysler and Fiat partnership will provide each automaker with access to additional markets. Additionally Fiat powertrains and technology will be produced at Chrysler plants.
"This partnership transforms Chrysler into a vibrant new company with a wealth of strategic advantages," said Bob Nardelli, Chairman and CEO of Chrysler. "It enables us to better serve our customers and dealers with a broader and more competitive line-up of environmentally friendly, fuel-efficient high-quality vehicles. Benefits to the new company include access to exciting products that complement our current portfolio, technology cooperation and stronger global distribution."
The restructuring plan is expected to last 30-60 days. Also part of the announcement is that Chrysler CEO, Nardelli is going to step down once the restructuring process is complete. Nardelli claims that leaving is his choice and that he was not asked to leave.
"Now is an appropriate time to let others take the lead in the transformation of Chrysler with Fiat," said Nardelli. "I will work closely with all of our stakeholders to see that this new company swiftly emerges with a successful closing of the alliance."
Part of the restructuring process states that most manufacturing processes will be temporarily idled starting on May 4, 2009. Production will not restart until the restructuring is complete.
Also part of the plan states that Fiat can not become a majority owner until all the government loans are repaid.Chrysler Unveils the Dodge EV, Jeep EV and Chrysler EV...Chrysler Takes on the Volt
Chrysler has officially unveiled the Chrysler EV, Dodge EV and Jeep EV today, which are Chrysler's answer to the Chevy Volt that was unveiled last week.
Chrysler Guarantees Gas at $2.99 a Gallon for the Next Three Years!
Gas prices are out of control and are forcing many buyers to rethink their current vehicles. This has killed sales of large trucks and SUVs. Chrysler has just announced a promotion to hopefully win more buyers that still want an SUV or truck, but can't imagine paying over $4 bucks to fill it up.
Kelly Blue Book Has Released its List of the Top Ten Coolest Vehicles Under $18K
Kelley Blue Book has released its list of the top ten coolest vehicles under $18,000 for 2008. Most of us can think of a list of cars that we would "label" as cool, but most of these cars probably don't list for under $18,000.
Chrysler is Going to Shutdown for 2 Weeks in July
Chrysler has just announced that the automaker will shutdown most of its operations in July for 2 weeks.
Chrysler Cuts Jobs and Officially Kills Four Models
There has been speculation that Chrysler is going to start killing off its slower selling models.
What are the Most Wanted Cars in the U.S. for 2007?
Edmunds.com has posted a list of the most wanted cars in 2007 based on reader feedback. Out of the 32 categories you may be surprised which automaker took home the most awards....
