Chrysler Group LLC is a U.S. automobile manufacturer in Auburn Hills, Michigan. It is a consolidated subsidiary of Italian multinational manufacturer Fiat. Chrysler is one of the “Big Three” American automakers. Vehicles sold worldwide under its flagship brand of Chrysler and Dodge brands, Jeep and RAM, but also makes vehicles under the Fiat brand sold in North America. Other important areas are Mopar Chrysler auto parts and accessories division and SRT performance car division. In 2011, Chrysler Group was the twelfth largest automobile manufacturer in the world by production.
The Chrysler Corporation was founded by Walter Chrysler in 1925, from what remained of the Maxwell Motor Company. Chrysler expanded considerably in 1928, when the company Fargo truck and the Dodge Brothers Company acquired and began selling vehicles under the brands, the same year he founded the Plymouth and DeSoto cars. In the 1970s, a number of factors, such as the oil crisis of 1973 affected sales of Chrysler, and Chrysler until the end of 1970 was on the verge of bankruptcy. Lee Iacocca was hired as general manager and is credited with returning the company to profitability in 1980. In 1987, Chrysler American Motors Corporation, which brought the profitable Jeep Chrysler bought under the roof.
In 1998, Chrysler with German automaker Daimler-Benz merged with Daimler -Chrysler AG, the merger proved controversial with investors and renamed Chrysler to Cerberus Capital Management and Chrysler LLC sold in 2007. Like the other big three automakers Chrysler has been hit hard by the crisis in the automotive industry with General Motors 2008-2010 and billions of dollars in loans received from the U.S. government in the fall of 2008 and early 2009, the two companies off to prevent. Chrysler filed Chapter 11 bankruptcy proceedings on 30 April 2009 start. The 10th Chrysler emerged from bankruptcy in June 2009 with the Pension Fund of the United Auto Workers, Fiat and the governments of the United States and Canada as major owners. In the coming years, Fiat acquisition of shares of the other parties to a majority stake in the company.
The sale of substantially all assets of Chrysler ” New Chrysler ” as Chrysler Group LLC was organized on 10 Completed in June 2009. The Federal Government supports the agreement with the United States $ 6.6 million euros in funding, which was ” Old Chrysler ” paid, and a new company called Old Carco LLC took over the remaining assets and liabilities which remained in Chapter 11 bankruptcy. This transfer excluded eight production, most of the real estate, equipment sales and rentals. Also excluded contracts with 789 retailers in the United States. The 24th May 2011, Chrysler repaid $ 7.6 billion loan to the United States and Canada.
The 21 July 2011, Fiat acquired Chrysler shares held by the U.S. Treasury. With the purchase, Chrysler ownership by foreigners, was obtained this time Italian car manufacturer Fiat a majority stake and control of Chrysler. The government of the United States involvement in the Chrysler bankruptcy costs $ 1.3 billion EUR.