- Dec 26, 1999
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I just read this news from a Mopar site I regularly visit - basically says that Chrysler is going to be terminated:
<< Several news sources have reported that Daimler-Benz plans to restructure its brands. German magazine Capital, quoted by Reuters, said that Chrysler would lose control over its technical development, which would move to Stuttgart. The new DCX areas would be:
Luxury - Mercedes
Compact / small cars - Smart, Mitsubishi, and Chrysler (note: Chrysler would not actually build any compact cars, but would re-label Mitsubishis and Hyundais).
SUV - Jeep, Mercedes SUV, Mitsubishi SUVs
Commercial trucks
The Neon, as previously assumed and reported, would be replaced by a Hyundai. The high-end LX series in the works appear to be dropped from this lineup, along with specialty cars such as the Viper.
Other sources have already reported that while Mercedes dealers in Mexico will sell the Smart car, Chrysler dealers will rebadge more Hyundais under the Dodge label.
This is very important news. If true, Chrysler will basically end as an independent entity, not even qualifying as a division of Daimler-Benz. It will have the same status as Oldsmobile within General Motors, at best. Mitsubishi, likewise, will surrender its autonomy under this plan. Many Americans are likely to lose their jobs as Chrysler stops designing cars and trucks. Recent strides in quality and feel will be abandoned in favor of a Mitsubishi-and-Hyundai strategy.
In essence, this is the death knell of Chrysler, if (a) it is true and (b) it is approved.
If you are a stockholder, now is the time to protest and to call for Schrempp's ouster. If you are not a stockholder, write to DaimlerChrysler and to Federal authorities. For DaimlerChrysler, note that this does not make business sense; prior to September, few would question Chrysler's greater ability to survive. For Federal authorities, bring up that this is clearly not a merger, and that Daimler-Benz committed fraud when they posed a takeover as a merger. If you were a Chrysler stockholder, consider joining one of the class action suits. >>
<< Several news sources have reported that Daimler-Benz plans to restructure its brands. German magazine Capital, quoted by Reuters, said that Chrysler would lose control over its technical development, which would move to Stuttgart. The new DCX areas would be:
Luxury - Mercedes
Compact / small cars - Smart, Mitsubishi, and Chrysler (note: Chrysler would not actually build any compact cars, but would re-label Mitsubishis and Hyundais).
SUV - Jeep, Mercedes SUV, Mitsubishi SUVs
Commercial trucks
The Neon, as previously assumed and reported, would be replaced by a Hyundai. The high-end LX series in the works appear to be dropped from this lineup, along with specialty cars such as the Viper.
Other sources have already reported that while Mercedes dealers in Mexico will sell the Smart car, Chrysler dealers will rebadge more Hyundais under the Dodge label.
This is very important news. If true, Chrysler will basically end as an independent entity, not even qualifying as a division of Daimler-Benz. It will have the same status as Oldsmobile within General Motors, at best. Mitsubishi, likewise, will surrender its autonomy under this plan. Many Americans are likely to lose their jobs as Chrysler stops designing cars and trucks. Recent strides in quality and feel will be abandoned in favor of a Mitsubishi-and-Hyundai strategy.
In essence, this is the death knell of Chrysler, if (a) it is true and (b) it is approved.
If you are a stockholder, now is the time to protest and to call for Schrempp's ouster. If you are not a stockholder, write to DaimlerChrysler and to Federal authorities. For DaimlerChrysler, note that this does not make business sense; prior to September, few would question Chrysler's greater ability to survive. For Federal authorities, bring up that this is clearly not a merger, and that Daimler-Benz committed fraud when they posed a takeover as a merger. If you were a Chrysler stockholder, consider joining one of the class action suits. >>
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