Word: chryslers
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...Last week the Treasury Department provided Chrysler $4.1 billion in debtor-in-possession financing to help it get through bankruptcy, bringing the total amount of federal 'loans' to Chrysler to more than $8.2 billion. GM, meanwhile, has received $15.4 billion from the Troubled Asset Relief Program and its total loan request could top $27 billion before the company completes its restructuring, a GM spokesman says. Even that figure assumes that GM's cash burn, which was running more than $3 billion per month in the first quarter, begins to slow later in the year. If the recession deepens, GM could...
...Maybe we should buy American, though. I summoned up the stats for the new Chrysler Town & Country - though not without trepidation. Back in the day, Chrysler invented the minivan and made a lot of money on them, but then they had a '70s flashback and let themselves get creamed by the Japanese...
...Apparently, they're back on track. According to the Edmunds.com review, the new model of Chrysler's top van is "a bona-fide contender for the Best-in-Class sash." Which sounds good - but would the sash count under "receivables" in bankruptcy court? The 4-liter T & C is virtually identical to the Odyssey in fuel efficiency and emissions, which means I could pick up $3,500 for buying one. (See the most important cars of all time...
...course, I'd still be paying a boatload for such a fine ride, but as a taxpayer, I'm writing regular checks to Chrysler anyway. What's one more...
...This deal seems to be yet another sign of how hard the global automotive industry has been hit by the recession. The news of the Porsche-VW merger follows the announcement earlier this week by Italian carmaker Fiat that it wants to acquire U.S. automaker Chrysler, which the U.S. government forced into bankruptcy protection last week, and GM Europe. Fiat wants to merge with Chrysler and GM's Opel to create one of the largest car companies in the world. (See Chrysler's top ten moments...