DaimlerChrysler news stories on Newser

US Choice: Put Money in Startups or Big Three

Kristina Loew — Sat, 17 Jan 2009 13:42:01 CST

Small upstart Tesla wants to build on the success of its bold electric sports car—the pricey Roadster—by building a tamer sedan for the masses. But to do so, it needs a big infusion of cash from the Obama administration, which is looking to boost clean energy. The situation,...

Chrysler Execs to Get $30M in Retention Bonuses

Kevin Spak — Fri, 14 Nov 2008 10:11:41 CST

Even as nearly bankrupt Detroit automakers beg Congress for a bailout, Chrysler is preparing to pay its top executives $30 million in retention bonuses, the Detroit Free Press reports. Chrysler says the deals were necessary measures to keep top talent in place when they were conceived last year during Daimler's...

Chrysler Loss Deepened After Daimler Split

Jim O'Neill — Thu, 28 Feb 2008 12:56:00 CST

Chrysler lost nearly $2.9 billion in a 2-month period last fall, after its split from Daimler, a filing by the German company shows. The filing by Daimler, which retains 19.9% of the automaker, offers a rare look at how costly the company's reorganization effort has been since it...

Life Without Chrysler Suits Daimler Fine

Zach Samalin — Thu, 30 Aug 2007 16:31:22 CDT

Rid of the Chrysler albatross since its May sale, German automaker DaimlerChrysler says its profits are taking off, Business Week reports. CEO Dieter Zetsche said yesterday the company—which aims to strip "Chrysler" from its name this fall—is likely to beat his estimates of 7% profit this year, and...

Japanese Foes Thump Big 3 in June Sales

M. Morris — Tue, 03 Jul 2007 17:57:15 CDT

GM's sales in June were down 24% from a year earlier, leading an all-American slump that saw Ford and Chrysler report downturns as Toyota, Honda, and Nissan rang up increases in figures released today. Discounts on the Tundra pickup helped Toyota jump into second place in the American market in...

Smart Car Makes a Little Noise

Sam Gale Rosen — Wed, 16 May 2007 13:12:07 CDT

Smart USA will venture into the American auto market early next year, but not in a big way: The Smart Fortwo is very, very small. LA Times auto columnist Dan Neil takes it for a spin and reports that it's a chick magnet and a lot of fun to drive,...

Chrysler Sale Suggests New Deal for Detroit

Peter Fearon — Tue, 15 May 2007 07:41:20 CDT

The sale of Chrysler to private-equity firm Cerberus Capital Management could be a watershed for the entire industry, the Wall Street Journal predicts. Cerberus thinks it can make the embattled carmaker profitable by restructuring its debilitating $18-billion health care and pension liability. If it succeeds without resorting to bankruptcy—which...

"Vulture Fund" Behind Chrysler Deal

Greg Atwan — Mon, 14 May 2007 22:49:08 CDT

Der Spiegel vivisects Cerberus, the private equity group that won Chrysler for a relative bargain today from German auto giant Daimler. Financier Stephen Feinberg's 15-year-old firm has $60 billion in assets, and specializes in companies on the brink of bankruptcy. The group avoids the spotlight, recruits former CEOs and politicians,...

Daimler to Unload Chrysler in $7.4B Deal

Greg Atwan — Mon, 14 May 2007 07:34:04 CDT

DaimlerChrysler has sold a majority stake in the Chrysler Group to the American private-equity firm Cerberus for $7.4 billion, the auto giant announced today. The deal unhooks the money-losing American arm of the international conglomerate from its German partner, which will retain a 19.9% stake in Chrysler and...