Chrysler

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June 2009
- Jeep Wrangler Is Star of Reborn Chrysler
  
  Toledo Blade | Jun 11, 09 12:02 PM CDT
  
  (Newser) - With the Fiat-Chrysler alliance finalized, workers must get hopping to churn out more Jeep Wranglers, the military-vehicle-turned-adventure-ride that’s one of just three American cars whose sales are up this year. It’s “probably one of the main reasons why Chrysler is still here,” an auto analyst tells the Toledo Blade . And Chrysler has only a 30-day supply remaining. More »
- GM-Owning Feds Buy Rival Fords
  
  New York Times | Jun 11, 09 5:30 AM CDT
  
  (Newser) - The federal government isn't letting its stake in General Motors and Chrysler stop it from doing business with rivals, the New York Times reports. Ford, the only one of the Big Three not to receive bailout funds, won the biggest order in the General Services Administration's recent stimulus-funded $287 million purchase of fuel-efficient cars for the federal fleet. More »
- Done Deal: Fiat Buys Chrysler Assets
  
  New York Times | Jun 10, 09 10:31 AM CDT
  
  (Newser) - Chrysler finalized its sale of assets to Fiat with a government wire transfer this morning that gave Chrysler $6.6 billion in funds to exit bankruptcy, the New York Times reports. The sale is good news for the Obama administration, which sought an “efficient” restructuring for Chrysler. It may also provide a glimpse into the future of General Motors, also navigating bankruptcy. More »
- Supreme Court Won't Block Chrysler Sale
  
  Associated Press | Jun 9, 09 6:48 PM CDT
  
  (AP) - The Supreme Court has cleared the way for Chrysler's sale to Fiat, turning down a last-ditch bid by opponents of the deal. The court late today rejected a plea to block the sale of most of Chrysler's assets to the Italian automaker. With the court's move, the deal can now close as early as tomorrow morning. More »
- Ginsburg Delays Chrysler-Fiat Deal
  
  SCOTUSblog | Jun 8, 09 3:39 PM CDT
  
  (Newser) - Supreme Court Justice Ruth Bader Ginsburg today put a temporary stay on the sale of Chrysler to Italian automaker Fiat, SCOTUSBlog reports. Ginsburg’s motion allows the justices to further consider the matter, and either postpone the sale or let it go forward. A full postponement of the sale would require five judges to agree. Ginsburg’s decision said the sale was “stayed pending further order.” More »
- As Dealers Dwindle, Car Prices Set to Balloon
  
  Boston Globe | Jun 8, 09 2:05 PM CDT
  
  (Newser) - The shake-up of America's auto industry will mean fewer auto dealers but the streamlining won't be making the cars any cheaper, experts tell the Boston Globe . Chrysler and General Motors are likely to turn to the Japanese model of fewer brands and fewer dealers when they emerge from bankruptcy, and the lack of competition among dealers is expected to add as much as several thousand dollars to the price of a new car. More »
- Foes Ask Supreme Court to Block Chrysler-Fiat Deal
  
  Associated Press | Jun 6, 09 11:49 PM CDT
  
  (AP) - Opponents of Chrysler's sale to Fiat are asking the Supreme Court to block the deal. Three Indiana state pension and construction funds filed emergency papers at the high court early today to put the sale on hold so they can pursue an appeal. The emergency request goes first to Justice Ruth Bader Ginsburg, who handles such matters from New York. She can act on her own or refer it to the entire court. More »
- Treasury Pushed Reluctant Chrysler Into Fiat Deal
  
  Wall Street Journal | Jun 6, 09 9:21 AM CDT
  
  (Newser) - The Obama administration foisted the Fiat alliance on Chrysler, brushing aside its concerns about Fiat’s financial health and unwillingness to share technology, the Wall Street Journal reports . E-mails filed during Chrysler’s bankruptcy proceedings show Fiat ignoring requests for documents, reluctant to ante up funds, and attempting to change contract terms late in the talks. Chrysler officials worried that they, and the government, might find themselves “in bed with a shady partner.” More »
- Court OKs Chrysler Sale to Fiat, Starting Monday
  
  Wall Street Journal | Jun 5, 09 5:10 PM CDT
  
  (Newser) - A federal appeals court today approved the sale of Chrysler to Italian automaker Fiat over objections from debt holders in Indiana, the Wall Street Journal reports. The court put the sale on hold until Monday afternoon, or until the Supreme Court issues a stay—which Indiana investors say they will need to file their appeal. “We need to get the Supreme Court to give us more time,” a lawyer for the group said. More »
- Indiana Makes Final Attempt to Block Chrysler Sale
  
  Washington Post | Jun 5, 09 5:49 AM CDT
  
  (Newser) - Indiana's attempt to block Chrysler's sale to Fiat moves to a federal appeals court today, the Washington Post reports. The state's treasurer, who oversees three state pension and construction funds that hold $42 million of Chrysler's debt, is arguing that the deal to bring the company out of bankruptcy violates bankruptcy law by favoring junior, unsecured creditors over senior ones. More »
- US Automakers See Sales Increase in May
  
  New York Times | Jun 2, 09 4:46 PM CDT
  
  (Newser) - Some actual good news for the auto industry: All three US automakers saw sales of new cars jump from April to May, reports the New York Times . Granted, sales are still way down compared to last year, but the month-to-month leap offers a glimmer of hope among the bankruptcy headlines. Ford did best, with sales up 20% from April and down 24% from the previous May, the smallest yearly decline among all major automakers since October. More »
- Judge Blesses Chrysler Deal; Bankruptcy Could End Today
  
  Wall Street Journal | Jun 1, 09 7:50 AM CDT
  
  (Newser) - Chrysler could shed its bankruptcy protection as soon as today, the Wall Street Journal reports, after Judge Arthur Gonzalez greenlighted the sale of the automaker's assets. Some Chrysler dealers and a group of Indiana pension funds had opposed the deal, which will split Chrysler between Fiat, the UAW, and US and Canadian taxpayers, but the judge waved them off, saying the Fiat partnership was the only viable course for the company. More »
May 2009
- Big Three See Bumpy Road With 20-Somethings
  
  BusinessWeek | May 29, 09 2:23 PM CDT
  
  (Newser) - Detroit automakers face a hard road when it comes to Generation Y—consumers aged 22-32 whose business is crucial to securing the firms' futures, BusinessWeek reports. Their boomer parents broke from tradition by shifting to Japanese cars, and Gen Y is following in those footsteps. Detroit “simply must do much better with Gen Y than they did with their parents, or the comeback we keep hearing about may not happen,” says an analyst. More »
- Fire Sale Sweeps Chrysler Dealerships
  
  ABC News | May 26, 09 6:12 AM CDT
  
  (Newser) - Those well-worn "Rock-Bottom Price!" and "Must Go!" stickers are more than sales pitches at nearly 800 dealerships cut loose by Chrysler, which have to sell by June 9 or lose vehicles to auction. The bankrupt automaker refused to buy back some 44,000 cars, reports ABC News, so prices have bottomed out as the clock winds down. More »
- Ford Courts GM, Chrysler Customers
  
  Detroit News | May 22, 09 12:25 PM CDT
  
  (Newser) - With General Motors and Chrysler struggling, Ford is moving to pick off some of its rivals’ customers, the Detroit News reports. The firm is passing cash to its dealers to ease Chrysler owners’ loan payments—so they can pick up Fords. Ford may soon do the same for GM owners. “We’re going to be aggressive, but we’re not going to be predatory,” said an exec. More »
- Auto Newcomer Will Head Chrysler-Fiat
  
  Detroit News | May 20, 09 4:42 PM CDT
  
  (Newser) - Post-bankruptcy, Chrysler head Robert Nardelli will cede his position to former Duracell chief C. Robert Kidder. Kidder will run the new Chrysler-Fiat alliance being hashed out in court, the Detroit News reports. Kidder is currently lead director on the board of Morgan Stanley—one of Chrysler’s creditors—and his auto-industry experience is limited to a one-time consultancy. More »
- Shock, Anger Settle In for Car Dealers
  
  CBS News | May 17, 09 6:20 PM CDT
  
  (Newser) - Hundreds of Chrysler dealers are reeling from notices that give them less than a month to close up shop, CBS News reports. "This was a sucker punch for my brother and I," said Rob Engel, who has been selling Chrysler vehicles in New Jersey since the Reagan presidency. "I'm making the transition from shock to anger." With 100 cars on the lot—too many to sell in a few weeks—he may, like Chrysler, have to go bankrupt. More »
- Chrysler Woos Current Owners With $1K Coupons
  
  Wall Street Journal | May 15, 09 10:04 AM CDT
  
  (Newser) - In an effort to boost sales, bankrupt Chrysler is planning to send $1,000 coupons to all its current customers, the Wall Street Journal reports. The certificates, good toward the purchase of any new Chrysler vehicle, will be mailed in the next month or so with a letter from CEO Robert Nardelli. The company will distribute more than 9 million certificates. More »
- Minority Car Dealers Stand to Lose Big in Closures
  
  Wall Street Journal | May 14, 09 4:30 PM CDT
  
  (Newser) - African-American and Latino car dealers will likely take a big hit in the dealership closures announced by Chrysler and planned at GM, the Wall Street Journal reports. The minority dealerships, located mainly in urban areas, have faced stiff competition as business has moved increasingly to suburbia. “We're more vulnerable,” said the president of a minority dealer group. “We were the last ones to come to the table.” More »
- Chrysler Junks 789 Dealers —25% of US Salesforce
  
  New York Times | May 14, 09 11:09 AM CDT
  
  (Newser) - Chrysler plans to eliminate 25% of its US dealers by next month, the New York Times reports. The embattled automaker notified 789 today, citing the need to keep remaining franchises profitable. Chrysler filed a list of those dealerships in bankruptcy court, and a judge could decide to rescue them. General Motors is expected to follow suit with 1,000 of its dealers tomorrow. More »