Canadian supplier Magna International and an unnamed private equity group have placed a bid for the Chrysler Group, according to KeyBanc Capital Markets analyst Brett Hoselton. The bid for Chrysler is worth approximately $4.7 billion. Given most analysts stating that Chrysler is worth anywhere from nothing to around $13 billion, the offer may not be […]

Cerberus Capital Management, one of the two leading contenders to buy the Chrysler Group, has hired former Chrysler COO Wolfgang Bernhard as a consultant. Cerberus and private equity firm Blackstone Group have emerged as front runners in the bids for Chrysler.
As a former executive at Chrysler, Bernhard was one of the primary architects of Chrysler’s […]

DaimlerChrysler has said that all of its future vehicles will be available with an optional hybrid powertrain. DaimlerChrysler CEO Dieter Zetsche told German automotive magazine Auto Motor und Sport that hybrids are “very important” due to new European and U.S. regulations on CO2 emissions.
DaimlerChrysler’s first hybrid will be a hybrid version of the Dodge Durango, […]

In the saga that is the potential sale of the Chrysler Group, another automaker is said that it is not interested in acquiring the troubled American arm of DaimlerChrysler. Last week, China’s SAIC said it does not have any current plans for any overseas acquisitions. This announcement came in response to a Hong Kong newspaper […]

DaimlerChrysler is considering holding on to the Chrysler Group’s Jeep brand in the possible sale of the American arm of the Anglo-German company, according to German newspaper Handelsblatt. According to inside sources, DaimlerChrysler is considering splitting the Jeep brand out Chrysler and keeping it independent. Experts believe that Jeep fits well with the Mercedes brand, […]

The Chrysler Group and the UAW have agreed to two special buyout programs that will provide early retirement and separation incentives to union represented employees as the automaker tries to reduce its hourly work force by 11,000 people. Earlier this month Chrysler announced that it is cutting 11,000 hourly jobs and 2,000 salaried jobs to […]

The DaimlerChrysler Supervisory Board today finally signed off on the limited partnership between the Chrysler Group and Chery to develop small vehicles. Under the agreement, Chery would build vehicles to be distributed under the Chrysler brands, primarily in North America and Western Europe. While DaimlerChrysler’s press release says “the Chrysler brands,” we assume it is […]

Volkswagen, Europe’s largest automaker, has become the latest to say it is not interested in acquiring DaimlerChrysler’s Chrysler Group.
“There are no such considerations at the moment,” said a Volkswagen spokesman when asked whether the company was looking at acquiring Chrysler.
Since DaimlerChrysler announced that it was considering all options for the Chrysler Group, Nissan-Renault, Fiat and […]

Despite exploring an alliance with General Motors last year, Nissan-Renault is not interested in acquiring DaimlerChrysler’s Chrysler division, said a Nissan official. While Nissan-Renault is open to new partnerships, it is not looking at a new partnership right now because it is focused on its own financial woes, said a Nissan spokeswoman.
Carlos Ghosn, CEO of […]