This Market Business News information article provides detailed information on the Chrysler Group LLC.
Chrysler focuses on producing automobiles, commercial vehicles, and automotive parts.
Walter P Chrysler formed The Chrysler Corporation in 1925 using assets of the Maxwell Motor Company (which started making cars in 1904).
The first Chrysler car was the “Chrysler Six”, which launched in 1924, followed by the “Chrysler Four” in 1925.
Chrysler formed a partnership with the German-based Daimler-Benz AG, to create the combined entity known as DaimlerChrysler AG.
Soon after the partnership was announced, Daimler acquired Chrysler. Daimler sold Chrysler to the private equity firm Cerberus Capital Management, L.P. in 2007.
However, the company soon went bankrupt (in 2009) and was bailed out by the US government – receiving billions of dollars in loans.
Fiat bought the Chrysler shares held by the United States Treasury, making the company a subsidiary of the Italian multinational automaker Fiat S.p.A.
Other company information:
- Divisions: Chrysler, Dodge, Jeep, Ram, Mopar, SRT
- Chairman and CEO: Sergio Marchionne
- Headquarters: Auburn Hills, Michigan, USA
- Employees: 65,535
The latest Chrysler financial results
Chrysler Group Reports Full Year 2013
- Revenue (2013): 72 billion USD
- Net income (2013): 2.8 billion USD
- Operating profit (2013): 3.2 billion USD
- Total assets (2012): 40.97 billion USD
- Worldwide vehicle shipments (2013): 2.6 million units
- Worldwide vehicle sales (2012): 2.4 million units
Chrysler Group LLC Chairman and CEO Sergio Marchionne said the following about the 2013 financial report:
“The 2013 year-end financial results reflect the commitment Chrysler Group has made to rapidly refresh our product lineup with vehicles that achieve exacting performance standards.”
Read more about the 2013 full year financial report.
August 3, 2014: US sales rose by 20% in July compared to July 2013 to 167,667 units. It was the best July since 2005. Sales of the Jeep brand increased by 41% and the Fiat 500L by 49%. Fiat shareholders voted overwhelmingly in favor of the merger with Chrysler. The new company will be called Fiat Chrysler Automobiles NV and will be legally based in the Netherlands and fiscally based in the United Kingdom.