According to the Detroit News, Chrysler’s board met today to decide the fate of some of their slower selling models. The word is that we’ll be seing an end to the PT Cruiser, Pacifica, and the Dodge Magnum. Ever since Chrysler’s new CEO Bob Nardelli took on his role at the company, there have been rumors that slow selling models, and overlapping models will be trimmed from the manufacturer’s portfolio. The three models who go the death sentence seem to foot this bill pretty well. The PT Cruiser has been a slow seller since its initial hype wore thin, the Pacifica crossover will overlap with a new vehicle to be released by Dodge, and the Magnum failed to live up to its promise of power, utility, and styling. All three models have seen sales drop an average of 30% this year alone.
Further rumblings from Chrysler headquarters in Auburn Hills suggest that more vehicles will be snuffed out too, specifically the Chrysler Sebring, Dodge Avenger, Jeep Commander, and Dodge Dakota.
We just hope that as Chrysler embarks on a new era of its life, we’ll start to see some progressive thinking from them, and a renewed hope that the once proud automaker can regain its footing on the sales floor and in the hearts of the American people.
What are your thoughts on these developments?
[Source: The Detroit News]
Seven years ago, one of the largest mergers in automotive history took place as Daimler and Chrysler unified. Originally viewed as a brilliant growth strategy, Daimler dropped $38 billion dollars on the deal, only to come out of it bruised in 2007. Oh well, you live, you learn right? Well, today Daimler execs have finally closed that chapter in the company’s book as they officially revealed their new corporate names. Ready for it? Daimler shareholders voted on the new name ‘Daimler AG’, but in the interest of keeping ties with co-founder Carl Friedrich Benz, the Mercedes Car Group has been renamed “Mercedes-Benz Cars.”
For clarification purposes, let me explain that Daimler is responsible for the Mercedes-Benz luxury division as well as the trucking and van businesses, while Mercedes is in charge of the luxury car unit, the Smart Car brand, and the uber-luxury brand, Maybach. Diamler AG also holds majority interests in a banking group that’s now called Mercedes-Benz Bank. Savy?
[Source: Autoblog]
The luxury vehicle concept from Chrysler that closely resembles the Rolly Royce Phantom appears to be heading for production lines. According to the Toronto Star, Chrysler execs have approved the production of the Imperial which will be built in the Brampton Ontario plant from which the 300, Dodge Charger and Challenger are also produced.
There is no official word on how closely the production vehicle will resemble the concept, nor has Chrysler released any details regarding official pricing. A Chrysler insider has stated that, while the company has pushed the corporate image upmarket with the 300, they are not ready for a $50,000 vehicle, and some market analysts have suggested that pricing for the Imperial could likely range from $5,000 - $7,000 above the 300.
One thing is for sure. With the release of the Imperial, Chrysler will soon challenge Lincoln and Cadillac as a new player in the American premium segment.
Video of the 2006 Chrysler Imperial concept after the jump.
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We’re sure that nearly everyone has heard the rumors that Diamler was looking to drop its ailing Chrysler group. There were a number of companies said to be bidding, including Kirk Kerkorian, who bid $4.5 Billion, and Canada’s Magna International, who were looking for partners to place a bid. It appears that Cerberus Capital Management came out on top, with a bid for an estimated $7.4 Billion. Diamler sold 80.1% of its stake in the Chrysler Group to Cereberus in a deal that works out to significantly less than the $38 Billion dollars Diamler paid for Chrysler in 1998. With sales in Chrysler and its subsidiaries slumping more and more, Diamler appeared to be eager to cut their losses.
We’re interested in seeing how this will affect the Chrysler group which will now be known as Chrysler Holding LLC. DaimlerChrysler AG will likely change its name to Daimler AG when shareholder approve in the coming months.
We’re curious to see what you think of this news! Please leave a comment!
