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Flooding in Detroit leaves one dead, delays Chrysler production

Flooding in Detroit leaves one dead, delays Chrysler production

DETROIT, Aug. 12 (UPI) --One woman is dead, thousands of cars have been abandoned and Chrysler is operating on a delayed schedule after Detroit was hit with over five inches of rain.
Matt Bradwell
Chicago Auto Show, Tesla's cross country trek

Chicago Auto Show, Tesla's cross country trek

The Chicago Auto Show is known as a "consumers" show, and this year it's good to be in the market for a new vehicle.
AL SWANSON, UPI Auto Writer
U.S. vehicle recalls highest in nine years

U.S. vehicle recalls highest in nine years

WASHINGTON, Feb. 4 (UPI) -- More cars and trucks were recalled in the U.S. this year than in the past nine, led by Toyota, which issued recalls covering more than 5 million vehicles.
Gabrielle Levy
Ford hourly workers get profit-sharing, Honda exports

Ford hourly workers get profit-sharing, Honda exports

Hourly workers at Ford Motor Co. are sharing in the company's success with nice bonus checks as company profits soar.
AL SWANSON, UPI Auto Writer
Ford pushes driverless car tech, minicar crash tests

Ford pushes driverless car tech, minicar crash tests

Ford is joining forces with Stanford University and MIT to improve the technologies of autonomous vehicles that "see" around objects and detect other cars and people.
AL SWANSON, UPI Auto Writer

Biden, Duggan share a meal and discuss ways to help Detroit

DETROIT, Jan. 16 (UPI) -- U.S. Vice President Joe Biden said he met with Mayor Mike Duggan in Detroit to discuss strategies to save the motor city.
Auto sales slow in December of a very good year

Auto sales slow in December of a very good year

DETROIT, Jan. 3 (UPI) -- Growth in U.S. auto sales slowed in December, automakers said, with General Motors reporting a drop in sales compared to the same month a year earlier.
Fiat's $4.35B Chrysler deal creates 'global automaker'

Fiat's $4.35B Chrysler deal creates 'global automaker'

AUBURN HILLS, Mich., Jan. 2 (UPI) -- Fiat SpA's $4.35 billion deal to buy the rest of Chrysler Group LLC will let the combined U.S.-Italian company become a "global automaker," Fiat's chief said.
U.S. auto exports at record level, could top 2 million

U.S. auto exports at record level, could top 2 million

DETROIT, Dec. 26 (UPI) -- The number of U.S.-built cars and trucks exported from the United States is at record levels and could reach 2 million in 2013, automakers said.
GM sheds 'Government Motors' moniker, Ford Mustang at 50

GM sheds 'Government Motors' moniker, Ford Mustang at 50

It was an historic week for General Motors. First the federal government completed its sale of shares in the Detroit icon and second a woman was named to lead the resurgent U.S. automaker.
AL SWANSON, UPI Auto Writer
Saab gets back in the game, U.S. auto sales soar

Saab gets back in the game, U.S. auto sales soar

You can't keep a good $40,000 car down. Sweden's Saab is making cars again.
AL SWANSON, UPI Auto Writer
Chrysler, Ford, post sales gains for November

Chrysler, Ford, post sales gains for November

DETROIT, Dec. 3 (UPI) -- U.S. automakers Ford Motor Company and Chrysler Group said sales of trucks and SUVs boosted overall sales in November.

Chrysler will not launch as public firm this year

MILAN, Italy, Nov. 25 (UPI) -- Italian auto company Fiat said Monday it would not launch Chrysler Group as a public company until the first quarter of 2014.

Treasury Department says bailouts made a profit -- but not off GM

WASHINGTON, Nov. 21 (UPI) -- The U.S. Treasury Department said it would close out its bailout of General Motors at a loss, although the total rescue effort is expected to make a profit.
Chrysler plans to go public in IPO

Chrysler plans to go public in IPO

CHICAGO, Sept. 29 (UPI) -- Four years ago a betting man would have risked even money that Chrysler would disappear, but four years later Chrysler Group is planning to go public.
AL SWANSON, UPI Auto Writer
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Photos
Chrysler Group
Chrysler Group Executive President- Manufacturing Frank Ewasyshyn speaks at a press conference announcing that Chrysler will spend up to $1 billion in its St. Louis North and South assembly plants in Fenton, Mo on December 12, 2005. The automaker will modernize and re-tool the plants which now make the Dodge Ram 1500 and 2500 Standard and Quad cab pickups and the Town and Country, Dodge Caravan and Grand Caravan minivans. (UPI Photo/Bill Greenblatt)
Wiki

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 its current name. 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.

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Chrysler Group."
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