Chrysler

Filed under: Euro, Chrysler, LLC., Daimler, Earnings/Financials Normally the privately owned Chrysler LLC is under no obligation to reveal its financial performance to Wall Street, but yesterday the Cerberus-owned automaker was forced to show a few pages from its accounting books thanks to one of its largest stakeholders and former owner, Daimler AG. The German automaker revealed that in the last six months, its 19.9% stake in Chrysler has cost it $585 million. To clarify Daimler’s numbers... Read Full Story

The automakers have reported their sales data for April 2008. Chrysler reports that their fuel-efficient compact vehicles set a new sales record for April. Fuel efficient cars are doing very well, we seem to be buying them like crazy. The fuel-efficient Dodge Caliber, Jeep(R) Compass and Jeep Patriot set new compact vehicle April sales record. The Chrysler Sebring Convertible sales took off as spring the ‘top-down’ driving season has begun. The all-new Dodge Journey has launched a new ad... Read Full Story

They figured out what the rest of us already knew. By Chris Haak 12.26.2007 There has been a lot of ink spilled over the past week about how things may be worse at Chrysler than Cerberus expected when they bought 80.1% of the company from DaimlerChrysler AG (now Daimler AG). Today's credit markets are not friendly to the types of financial needs that Chrysler would have in order to turn around their lineup with all world-class vehicles, and many of their recent products have been met with... Read Full Story

By Brendan Moore 01.11.2008 The rumors started in late December, went dormant for awhile, and then, ramped up like crazy yesterday. Now we have word that Nikkei of Japan is reporting today that Nissan has stated that it may indeed supply Chrysler with 30,000 Nissan Versa (known as the Tiida in Japan) compacts a year which Chrysler will re-brand as Chrysler or Dodge cars. Nissan Motor Co., Japan’s third-largest auto manufacturer, would start supplying the cars to Chrysler as early as 2008... Read Full Story

By Brendan Moore 11.30.2007 Business students in St. Mary’s University in Nova Scotia learned a bit about what Wall Street and the automotive press wants to know about Chrysler LLC from Steven Landry of Chrysler; that is, that the company may cut up to another four nameplates soon, and that they’re forecast to spend more than a billion dollars more than they will bring in this year. Steven Landry, EVP of North American Sales for Chrysler, was at the school to donate $100,000 from Chrysler... Read Full Story

By Brendan Moore 10.31.2007 Just days before the November 1 legal separation of Chrysler from Daimler in the UK, the head of Chrysler UK, Peter Lambert, has suddenly left the company. Chrysler UK Ltd., the new legal entity in the UK, is silent on the reasons for Lambert’s departure a few days ago, as well as whether he went to a competitor, saying only that “Peter Lambert will not be part of the company going forward.” Lambert had previous stints at Ford and Toyota before being named... Read Full Story

UAW locals rebel against the national organization By Brendan Moore 10.21.2007 Final totals from the Chrysler-UAW voting won’t be known until next week, but the size of the locals voting down the agreement so far portends a very rocky road to approval for the labor agreement national UAW officials reached with Chrysler LLC. Not only are large locals like Local 110 in Fenton, Mo., one of Chrysler’s largest, with 2,781 hourly workers at the South Assembly Plant, voting down the agreement... Read Full Story