Report: Chrysler in talks with Nissan-Renault, Magna

[BeatleBoot]

Source: The Detroit Free Press

Citing anonymous sources, Reuters news service late today reported that Chrysler LLC is in talks to sell “key assets” to Nissan-Renault and Canadian auto supplier Magna International Inc.

Chrysler, based in Auburn Hills, had asked the federal government for $7 billion in loans because of falling sales in the United States, where the economy has been ravaged by crises in the housing and credit markets.

But the federal government gave the automaker just $4 billion, leading to speculation that the automaker might be forced to file for bankruptcy or liquidate, among other options.

Magna recently hired former Chrysler chief operating officer and automotive veteran Wolfgang Bernhard as a consultant, the Free Press confirmed today.



Read more: http://www.freep.com/article/20090113/BUSINESS01/90113119/Report++Chrysler+in+talks+to+sell++key+assets+

[madrchsod]

1. Daimler rebuilt the belvedere illinois plant that makes jeep brands and the caliber

Daimler spent around 750 million to rebuild the plant and other on site facilities making the plant the most efficient production of any auto plant in america. since jeep is a world brand and sell well around the world it would be a wise decision to buy chrysler for at least this production facility. the van production plant maybe worth saving because dodge vans still sell to tradesmen and fleets.

Chrysler`s auto divisions products suck. ugly design,crappy interiors,and poor reliability. unless they have the cash for retooling the production lines it`s going to be the end of chrysler.

[blue_onyx]

2. A sale of Chrysler is probably the best option

I'll be ok with anything other than the company going under. It will be interesting to see what happens...it will be very different company and auto industry by the end of the decade.

[BeatleBoot]

4. They are owned by a hedge fund

called Cerberus, as you probably already know.

Chrysler will be lucky to still be "a company" by the 4th of July (IMHO).

I'll bet that Cerberus is going to chunk it off into pieces and lick what's left of the bones.

That's what they do. They're good at it.

[blue_onyx]

10. yes, that's my worry

Nobody should be surprised if Chrysler is sold in pieces. I knew Cerberus had no intention of fixing Chrysler...they wanted to get as much money out of Chrysler as they could. The article said it may sell the PT Cruiser assets to a Chinese company. I could see Nissan-Renault buying Jeep and the rest just going away. I'll hold out hope that the company remains whole and is sold to Nissan-Renault or Magna but this is unlikely.

[quidam56]

3. Bush Legacy ?

I doubt Chrysler will be with us much longer. Another example of the Bush Error http://www.wisecountyissues.com

[oldnslo]

5. I thought everyone knew Chrysler is as good as dead.....

None of their products, including Jeep, is worth a damn and their sales bear it out. They suck.

[mbperrin]

8. The 2007 Town and Country we bought 27,000 miles ago has yet

to need any maintenance other than oil and filter changes. Gets 17 mpg around town, 35+ on the highway, extremely comfortable to drive, much more so than several Lincolns, Regencies, 98s, F150, or Silverado through the years.

Local dealer extremely helpful. Test drove, applied for loan, approved over lunch, drove home 3 hours after coming on to the lot. Comfort items superior and placement of controls couldn't be better. Roomy, plenty for us, 3 grandkids, and two Boston Terriers.

Sales? Who had an increase in the last year? Nobody. By your logic, they all suck. IMHO, the economy sucks, robbed blind by the fuckers in office now. Problem's not the vehicles, problem is the income and security.

Just my 2 cents.

[muriel_volestrangler]

6. It seems to be Jeep that Renault-Nissan is interested in

The present round of talks with Renault-Nissan gathered momentum in recent weeks and has included discussions about a deal to sell Chrysler's iconic Jeep brand, according to three people with knowledge of the talks.

Renault-Nissan, an alliance headed by Carlos Ghosn, has been looking to clarify whether a deal to acquire assets from Chrysler would jeopardize the company's access to U.S. government funding, one of those familiar with the talks said.

http://uk.reuters.com/article/euPrivateEquityNews/idUKTRE50D0Y620090114?sp=true

That's certainly the brand with worldwide recognition. I think the rest of Chrysler is more or less only of interest in the North American market.

[dipsydoodle]

7. Jeep - brand with worldwide recognition

Best known 4WD brand on the planet I'd say. Helps explain why I've got a Jeep Patriot 2.0CRD albeit that's a kinda VW in disguise. IMHO Jeeps have always been excellent reliable products - I've previously had Wrangler, Cherokee and Grand Cherokee models.

[Flagg]

9. Nissan-Renault ?

It's Renault-Nissan.
Renault owns Nissan, not the other around.
Is is that tough for Americans to admit that the effete and inferior cheese eating surrender monkeys can have a successful auto-industry ?