Chrysler Files for Chapter 11 Bankruptcy

[maverick7321]

Chrysler LLC filed for bankruptcy protection Thursday and will form an alliance with the Italian carmaker Fiat Group SpA in an effort to revive the nation's ailing third-largest automaker.

Full Story: http://abcnews.go.com/Business/Economy/wireStory?id=7468123

 

[hyde]

"This is not a sign of weakness," he said. "I have every confidence that Chrysler will emerge from this process stronger and more competitive."

Under bankruptcy, Chrysler would still sell cars and the government would back its auto warranties.

uh-uhhh...

 

[LibertyOrDeath]

Imagine a Dodge Charger Gallardo SRT10 or Dodge Challenger Murciélago SRT12.

Would be weird that the parent company of Lamborghini would own Chrysler after Chrysler owned Lamborghini.

 

[desertkj]

It honestly sounds like the best option for Chrysler. They are not going into liquidation so they are not "going under." It is much like the airlines a few years back that filed Chapter 11. Personally, I'm optimistic to see what Fiat can bring to the table for the U.S. market.

 

[KJ zGal]

And supposedly Fiat is giving Chrysler access to some of their technologies for improving fuel economies and stuff. Next thing you know there'll be electric KKs with top speeds of 25 mph =P

 

[hyde]

Factories came to a halt, does that mean dealers will want to hang onto their stock and try to profit from it since they may not be getting new wheels anytime soon, or will they want to get rid of them at nice prices?

 

[Marlon_JB2]

Factories came to a halt, does that mean dealers will want to hang onto their stock and try to profit from it since they may not be getting new wheels anytime soon, or will they want to get rid of them at nice prices?

Why get rid of them? They're gonna try to hang on to them because getting new stuff is gonna be kinda hard until Chrysler comes out of Chapter 11. So whatever they have... right now is whatever they have. This should be interesting, looks like they might profit more from it. (Higher dollar sales!!!) And from what I hear, since the Obama speech, Chrysler sales are up. Go figure, eh?

 

[Dave]

Why get rid of them? They're gonna try to hang on to them because getting new stuff is gonna be kinda hard until Chrysler comes out of Chapter 11. So whatever they have... right now is whatever they have. This should be interesting, looks like they might profit more from it. (Higher dollar sales!!!) And from what I hear, since the Obama speech, Chrysler sales are up. Go figure, eh?

Yeah, and I hope they can reorganize and emerge stronger.

Dave

 

[2003renegade]

believe me. there are plenty of new vechicles still on the chrysler plants lots.

 

[2003renegade]

we are off for 30-60 days. there is a new patriot hybrid coming to our plant in illinois.