Cerberus, Chrysler’s majority owner, is giving 35% of Chrysler to Fiat and will not receive any cash in this deal. Instead, Fiat is set to provide Chrysler with its small car platforms, powertrain and other systems in order for Chrysler to produce competitive small cars. Full press release after the jump:
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Newly-independent Chrysler announced major job and product cuts in order to turn the company around. Here’s the quick overview of major announcements:
Overall these moves were anticipated as they are the most logical: Chrysler needed to fire people, and remove products that weren’t selling well. Hopefully this means better financial future for the company.
Tags: Chrysler
Posted by: Aram on 
Aug 5th, 2007 | 
Filed under: Chrysler
Cerberus Management Group is wasting no time in trying to make Chrysler attractive again… after unveiling lifetime powertrain warranty on new vehicles, Chrysler is now going back to the old pentagram logo. Newly rechristined Chrysler LLC is hoping to revitalize itself in the ever so competitive market. A new name and a new logo are great, but they haven’t unveiled what they really need: a compelling vehicle that’s ahead of the competition.
