Chrysler
Automotive Company
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Inside Detroit autos: Ford improves in value survey...Calif., shattering the previous lap record by more than 1.1 seconds. Coming up: Chrysler's partner Fiat may close some factories in Italy, CEO Sergio Marchionne said. Fiat has already said it will end car production at its Termini Imerese... In this article: GM, Fiat, Sergio Marchionne, Chrysler, California, Electric car, Chevrolet Cruze, and Chevrolet |
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Detroit News | 5 days ago
The inside story of the GM, Chrysler bailouts
...of Chrysler plants and employees. But GM's interest -- on the heels of merger talks last summer -- came too late as the Obama administration backed a deal to turn control of Chrysler to Italy's Fiat SpA. Some in the Obama administration...
In this article: GM, Bankruptcy, Fiat, United Auto Workers, and Henry Paulson
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FT.com - Companies | 6 days ago
Fitch warns of drawn-out car sales recovery
...governments, and a United Auto Workers union healthcare trust. A group of bondholders has a minor equity stake in GM, while Italy's Fiat now owns 20 per cent of Chrysler. Fritz Henderson, GM's chief executive, raised the prospect of an...
In this article: General Motors, Fitch, US, Detroit, Cash flow, Bankruptcy, United Auto Workers, and Fiat
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Forbes.com Business News | November 17, 2009
More U.S. Taxpayer Help For Fiat
...Chrysler for an engine factory. DETROIT -- The federal government already paved the way for Italy's Fiat to take control of Chrysler back in June, when it orchestrated the carmaker's exit from bankruptcy. Now the state of Michigan is...
In this article: Fiat, Michigan, U.S., Tax, Bankruptcy, UAW, and Fiat 500
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Autoblog | November 19, 2009
Government reportedly encouraged by Fiat's plan for Chrysler, sees huge sense of urgency
...products coming from Auburn Hills via Italy. Government reportedly encouraged by Fiat's plan for Chrysler, sees "huge sense of urgency" originally appeared on Autoblog on Thu, 19 Nov 2009 08:58:00 EST. Please see our terms for use of feeds.
In this article: Fiat, Sergio Marchionne, Auburn Hills, MI, Filed, United Auto Workers, John McCain, and Barack Obama
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Detroit News | November 20, 2009
Ex-czar gives Chrysler take
...not a huge ingredient, a huge determinant of success." Advertisement The government turned over 20 percent of Chrysler and control of the company to Italy's Fiat SpA. Fiat CEO Sergio Marchionne also holds the top job at Chrysler Group...
In this article: GM, Steven Rattner, Carlos Ghosn, Fiat, Renault-Nissan, Balance sheet, and Robert Nardelli
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Description from Wikipedia:
Chrysler Group, LLC is an American automobile manufacturer headquartered in the Detroit suburb of Auburn Hills, Michigan. Chrysler was first organized as the Chrysler Corporation in 1925. From 1998 to 2007, Chrysler and its subsidiaries were part of the German based DaimlerChrysler AG (now Daimler AG). Prior to 1998, Chrysler Corporation traded under the "C" symbol on the New York Stock Exchange. Under DaimlerChrysler, the company was named "DaimlerChrysler Motors Company LLC", with its U.S. operations generally referred to as the "Chrysler Group". On May 14, 2007, DaimlerChrysler announced the sale of 80.1% of Chrysler Group to American private equity firm Cerberus Capital Management, L.P., although Daimler continued to hold a 19.9% stake. This was when the company took on the name, Chrysler LLC.. The deal was finalized on August 3, 2007. On April 27, 2009, Daimler AG signed a binding agreement to give up its 19.9% remaining stake in Chrysler LLC to Cerberus Capital Management and pay as much as $600 million into the automaker's pension fund.
On April 30, 2009 Chrysler LLC filed for Chapter 11 bankruptcy protection and announced a plan for a partnership with Italian automaker Fiat.
On June 1, Chrysler LLC stated they were selling some assets and operations to the newly formed company Chrysler Group LLC. Fiat will hold a 20% stake in the new company, with an option to increase this to 35%, and eventually to 51%.
On June 10, 2009, the sale of most of Chrysler assets to "New Chrysler", formally known as Chrysler Group LLC was completed. The federal government financed the deal with US$6.6 billion in financing, paid to the "Old Chrysler", formally called Old Carco LLC. The transfer does not include eight manufacturing locations, nor many parcels of real estate, nor equipment leases. Contracts with 789 U.S. auto dealerships, who are being dropped, were not transferred.
- Name:
- Chrysler Group, LLC
- Type:
- Private, limited liability company
- Location City:
- Auburn Hills, Michigan
- Location Country:
- USA
- Region:
- International
- Founder:
- Walter Chrysler
- Founded:
- June 6, 1925
- Owned by:
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- Fiat S.p.A. (20%)
- UAW VEBA (67.69%)
- United States (9.85%)
- Canada (2.46%)
- Industry:
- Automotive
- Key People:
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- Sergio Marchionne
- C. Robert Kidder
- Jim Press,
- Products:
- automobiles, light trucks and vans
- No. of Employees:
- 58,000 (2008)
- Subsidiaries:
- Chrysler Canada, Chrysler Australia, GEM
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