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Chrysler going out of business sale

ObiWan
Anyone keeping tabs on the buyout of Chrysler? Seems the private corp has had trouble getting financing to buy it out...

They issued notices to 173 dealers saying move more vehicles or you are no longer a Chrysler dealer.

450 dealers are no longer allowed to go to used car auctions as they aren't moving enough new vehicles.

AND they came out with the new Lifetime Warranty on Chrysler powertrains...that'll kill 'em for sure.

Who thinks Chrysler will pull thru? I don't think they have a chance. Poor product with the most recalls of any automotive maker in the last year. Gas guzzlers.
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Comments

15 comments

Date Votes
  • Mossbergboogie
    Better question who thinks any american automotive industry has a snowballs chance in hell in 10 years.
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  • heliman
    Since they lost Daimler, they are in deep pooh. They do make a good truck, but can't survive on that alone. [xx(]
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  • Captplaid
    I was shocked the Cerberus thought they could come up with the funds.

    Just how big are these private equity scavengers?

    Maybe they will join forces with someone like KKR.
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  • dheffley
    Sharks smell blood in the water. Ford and GM will go after Chryslers market and hurt them even more. It will be an uphill battle, but we need to remember, the government has pulled Chrysler out of failure twice before, and most likely will do it again if need be. Personally, I think three strikes and you're out.
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  • v35
    China might be smart to buy the name. They're up and coming and once they have a foothold here there's going to be hell to pay in the domestic industry.
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  • Captplaid
    Many consider Ford is in a worse position.

    Union negotiations have been gone. GM and Ford have started. I haven't heard what the UAW is doing with Chrysler. I suspect the UAW is sandbagging and hoping Chrysler will take whatever they negotiate with GM/Ford
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  • SCorvers
    Yup. Chizzler was in trouble back in the late 70's early 80's. Lido borrowed a few mill from the feds and lo and behold, he paid it back.....with interest. Imagine that.
    Chizzler warranty claims are Wwwwaaayyyyy down. The mechanics at the dealerships feel like the Maytag repair man.
    Ford is on a slippery slope to hell. GM can't make a car more interesting and affordable than a turd.
    Somebody somewhere is gonna get their head out of there backside and start building cars one day.
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  • KSUmarksman
    quote:Originally posted by chrishiher
    Better question who thinks any american automotive industry has a snowballs chance in hell in 10 years.


    I for one can't imagine driving a TOYota versus the Pontiacs currently in my family.
    Some of us have to drive a long time on the highway, most Jap cars just ain't comfortable enough for that.
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  • dlrjj
    I believe Chrysler was still making the Abram tank the last time the government bailed them out, and they have sold that division since then. There is not as much incentive for the government to get involved this time around.
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  • v35
    They need to reverse engineer a few of the biggest Toyota and Honda sellers down to metals, bearings, electrical components, fits and tolerances and the smallest detail and do what they have to do to sell them competitively.
    It's clear American engineering and manufacturing standards suck.
    Good enough isn't.
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  • slipgate
    I think their goal is to bankrupt chrysler and shed a lot of debt and maybe some union contracts as well in the process. If they did that, they could come out a profitable company.
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  • ljwrench
    I read where Chrysler is going start importing a Chinese car (I think it's the Cheri) in the next year or so. Maybe that will save them. Selling sub-compact junk.

    Ford just reported a 750 million profit for the last quarter.
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  • toolsforfools
    Gas prices will be the killer of many brands.Not many can pay 100.00 a week too drive and support a home and family.They killed themselves.Gas hoggs are not the wave of the future.
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  • beneteau
    They ain't out, yet. As previously mentioned, you're gonna see Chrysler coming from China. Next will be Ford. You can't continue to "live" on borrowed money and that's what Ford is doing. They've hocked everything.

    Chrysler link
    here
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  • andersk
    I won't be buying a car "made in China" any time soon! I've seen enough of Chinese tools to convince me that if it were not for bad quality there would be no quality at all. How can they make a car without any tools!?

    Remember the Ugo or however they spelled that. In terms of technology, it was like buying a new car with 15 year old Fiat technology! Dumb!
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