Word: chryslers
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Dates: during 2000-2009
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...Detroit may still collapse. This will be determined by the federal government. The government can keep the industry on life support even if GM (GM) and Chrysler do not get cooperation from the UAW and creditors. If the two firms are thrown into bankruptcy, the number of people then out of work would conservatively be measured in hundreds of thousands. (See pictures of Detroit...
...both American and European carmakers face plummeting sales and an industry in flux, the storied Turin automaker is set to return to Detroit for a new, though less fixed, marriage. Fiat and Chrysler announced a nonbinding deal Tuesday to create a partnership that will give the Italian automaker a 35% stake in the smallest of the badly strapped American Big Three. The joint announcement stipulated that Fiat's commitment to its struggling partner would be solely an equity interest and that "the alliance does not contemplate that Fiat would make a cash investment in Chrysler or commit to funding Chrysler...
Still, both companies see short- and long-term upsides to joining forces. Chrysler is in dire straits, considered the closest to collapse of the Big Three. The $4 billion in federal loans it received last month to help keep it afloat, and the additional $3 billion it hopes to obtain in March, carries the stipulation that the company move quickly to find ways to produce smaller, more fuel-efficient models, which have long been Fiat's bread and butter. "A Chrysler-Fiat partnership is a great fit," said Chrysler chairman Bob Nardelli in the joint communiqué. "It creates...
...Fiat is hardly a magic pill for Chrysler, which is burdened by inefficient factories that need major overhauls to allow for production of smaller, smarter automobiles, says Giuseppe Berta, a Milan-based car-industry expert. "At this point, Chrysler can say it tried to get out of a corner, that it found a European company that makes more marketable cars," says Berta. "But if you want to actually use Chrysler facilities to construct a Cinquecento or Alfa MiTo, you're talking about a major cost." (See the 50 worst cars of all time...
...present its own green models. While Toyota showed off its 2010 hybrid Prius and Honda made a splash with its 2010 hybrid Insight--both will hit showrooms this spring--many of Detroit's models were concept cars not intended for production anytime soon. Still, the prototypes from General Motors, Chrysler and Ford emphasized the carmakers' simple message--"We get it"--and were a sign that buyers may soon have more choices when it comes to fuel-efficient vehicles...