Chrysler Group LLC, the auto maker of Chrysler Cars | Car Showroom - Chrysler Group LLC is a global company of automobile manufacturer and headquartered in the Detroit suburb of Auburn Hills, Michigan. Chrysler has been organized by the Chrysler Corporation in 1925. 10. June 2009, the Chrysler Group LLC was born from Chapter 11 reorganization and was sold to Italian Fiat car. 3. June 2011, Fiat acquired the remaining interest of $ 500,000,000 U.S. Treasury, and Chrysler car model to increase its stake to 52%.
The company was founded by Walter Chrysler (1875-1940) June 6, 1925, when the Maxwell Motor Company (founded in 1904) has been reorganized into the Chrysler Corporation.
Walter Chrysler was the company in crisis Maxwell-Chalmers in the 1920's. He was hired to review the operations of the company in trouble (after the rescue work similar to the Willys company). In late 1923 the Chalmers automobile production had ended.
In January 1924, Walter Chrysler launched the well-received Chrysler automobile. The Chrysler was a 6-cylinder car, designed to provide customers with an advanced vehicle, well designed, but at a price more affordable than you might expect. (The elements of this car have their origins in a prototype being developed during the term of Willys Chrysler). The original 1924 Chrysler included a carburetor air filter high compression engine, pressure lubrication and oil filter, characteristics absent from most of the cars at the time. Among the innovations in their early years were the series of the first practical four-wheel hydraulic brakes, a system almost entirely designed by Chrysler with patents assigned to Lockheed, and rubber engine mounts to reduce vibration. Chrysler has also developed a wheel with fluted edge, designed to maintain a flat tire to fly off the wheel. This conference was adopted by the global automotive industry.
After the introduction of the Chrysler, Maxwell was abandoned after the 1925 years of the implementation of the model, even if the truth of a new line of Chrysler 4-cylinder at low prices using 1926 years ago were virtually Maxwells model that was redesigned and rebranded. It 'was during this period of early 1920 that Walter Chrysler assumed the President of Maxwell, where the company finally been included in the name Chrysler.
In 1998, Chrysler and its subsidiaries entered into an association called "merger of equals" with Germany-based Daimler-Benz AG, the creation of the combined company DaimlerChrysler AG's Chrysler. Daimler acquired subsequently to surprise many shareholders, after the retirement of CEO Bob Eaton of Chrysler. At DaimlerChrysler, the company was named DaimlerChrysler Motors Company LLC, with its U.S. operations generally known as the Chrysler Group. " On May 14, 2007, DaimlerChrysler announced the sale of 80.1% of Chrysler Group to American private equity firm Cerberus Capital Management LP, therefore, known as Chrysler LLC, even though Daimler (now Daimler AG) continued maintaining a 19, 9%. The agreement was finalized August 3, 2007. On April 27, 2009, Daimler AG signed a binding agreement to give up their 19.9% stake in Chrysler LLC to Cerberus Capital Management and pay as much as 600 million U.S. pension fund dollars from the manufacturer.
On June 10, 2009, sale of most assets Chrysler to New Chrysler ", officially known as the Chrysler Group LLC has been completed. The federal government has funded the transaction with $ 6.6 billion in funding, given Chrysler's "old, a new company called Old Care LLC was created to take over the remaining assets and liabilities, which remained in Chapter 11 bankruptcy. The transfer does not include eight manufacturing plants, or many parcels of real estate and equipment leasing. The contracts of 789 automotive dealerships in the United States, which are removed have not been transferred. On May 24, 2011, Chrysler paid its $ 7.6 billion in loans to U.S. government and Canada.
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