Chrysler gets a USD 4 billion loan from the government
US based automaker Chrysler has now received USD 4 billion in loans from the US government.
This comes after the US government provided a similar financial assistance to GM.
Chrysler Chief Executive Bob Nardelli said in a statement: “This initial loan will allow the company to continue [...]
Kirk Kerkorian sells off Ford stake at a massive loss
Billionaire investor Kirk Kerkorian has sold all of his Ford stock in the market.
He sold the stock at a major loss as automakers in the US market continues to struggle.
Kerkorian’s investment firm, Tracinda Corp confirmed this deal in a statement.
Ford has not yet commented on [...]
Canada providing financial help to automakers
Canada has announced that similar to US they are also providing financial aid to automakers in the country.
The Canadian government is providing C$4 billion in loans to Canadian arms of American automakers to help them during these tough times.
The US government itself has just announced a $17.4 billion package [...]
Chrysler to shut down production for a month
US based automaker Chrysler has said that they are shutting down production at their plants for a period of at least a month.
They would stop production at all of its manufacturing operations from December 19.
The company is struggling in their domestic market due to falling sales. [...]
Chrysler seeks $7 billion in aid from US government
US based automaker Chrysler has asked for $7-billion in loans from the US government.
The company said that they need this money to survive the slowdown in the country’s economy.
The slowing down sales of their cars have eaten into their cash reserves and they might not survive if [...]
Chrysler to cut 25% of salaries jobs
US based automaker Chrysler has announced that they are now going to cut as many as 25% of their salaries job positions.
This job cut would begin starting next month. The company is also likely to announce more such restructuring programs in the coming months.
The company added that they are [...]
GM said to be in talks with Chrysler
Market reports are now talking about rumors of possible talks between GM and Chrysler for a possible merger.
GM and Chrysler are the 1st and 3rd largest American automakers and both are struggling in these hard times to stay competitive in their home market.
A possible merger between the two [...]
Chrysler has big plans for the year 2010
US based automaker Chrysler has announced that they are planning to launch as many as seven major vehicle models in 2010.
The company added that they are also working on launching their electric cars not long after that year.
Chrysler added that they have been working hard on developing the [...]
Chrysler in talks with Nissan
US based automaker Chrysler is said to be in talks with Japanese company Nissan to develop midsized cars.
The two companies could form a joint venture to manufacture these cars.
These two automakers are already working on several projects. Nissan is building a small car for Chrysler while the latter is developing [...]
Chrysler sales down 25 percent
Ford, GM and now Chrysler has reported a massive drop in sales in the month of May this year.
Chrysler has reported that their car sales were down 25 percent last month compared to the same period last year.
They too are suffering from lack of demand for large pickup trucks and sport [...]
