2007 Chrysler Nassau concept
Friday, April 27th, 20072007 Chrysler Nassau concept. Charles V. Tines / The Detroit News
Filed under: Car Buying, Trends, Crossovers/CUVs, Hatchbacks, Chrysler, LLC.
Here's an interesting way to clear some unwanted inventory: offer a crazy-sounding deal on two new cars, like buy one car and get the second for just $1. That's the pitch at a suburban Chicago Chrysler dealership that promises a 2008 Chrysler PT Cruiser demo car for just $1 if you happen to purchase one of their five remaining 2008 Chrysler Pacificas. That's practically a 2-for-1 deal and would give buyers two options for family hauling duty. The lame-duck Pacificas in stock range in price from $37,000 to $40,000 and can carry six passengers and their stuff in floaty luxury. The PT, on the other hand, offers a more frugal option for up to five passengers. Dealer Frank Mancari started the deal on Saturday at his Oak Lawn dealership to increase showroom traffic. Once all of the vehicles are sold, however, that's it. We bet more than one person will walk in and tell the dealer he can keep his PT Cruiser, they'll take the Pacifica with a $15,000 discount instead. Who are we kidding, Chrysler doesn't even want these cars anymore. Thanks for the tip, Dave![Source: Chicago Breaking News]
Buy a Pacifica, get a PT Cruiser for a buck! originally appeared on Autoblog on Tue, 18 Nov 2008 18:58:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Government/Legal, Chrysler, LLC., Ford, GM, Earnings/Financials
So here's a breakdown of what's going on in Congress concerning federal aid for U.S. automakers. A Senate bill expected to be voted on this Thursday would expedite funds for Ford, GM and Chrysler so that they could actually get the cash they need within 22 days after the bill becomes law -- should the bill become law. The $25 billion loan, paid back at an initial rate of 5-percent, would come out of the $700 billion bailout fund for financial institutions. The Senate's stipulations would be that the government receives "stock warrants or senior debt instruments to the government," similar to actions taken with banks that accessed the $700 billion. As well, top executives get no big payouts and stockholders get no dividends.The rumblings on the track indicate that unless the folks in favor can change a lot of minds before Thursday, the Senate bill has little hope of passing. That makes it even more unlikely that a House version of the bill would pass, since it has even stricter requirements. The House bill would also get money for the automakers quickly, but would establish a Financial Stability Oversight Board that would have veto power over any auto company action that would cost more than $25 million. Who would be on that board and how would they be chosen? Who knows.
Latest word is also that the White House doesn't want to take money from the $700 billion bank bailout and use it for the auto industry. It would rather speed up disbursement of the $25 billion in low interest loans that was already approved for research into more fuel efficient vehicles and let the automakers use that for their current cash needs. The White House also wants, and the Senate bill requests, that Ford, GM and Chrysler give the Treasury "a detailed plan on how the government funds requested will be utilized to ensure the long-term financial posture of the company." Cue the dramatic music, some maniacal laughter and the late Vincent Price intoning: the plot thickens.
[Source: Automotive News - sub. req'd]
The Skinny: Automaker aid from the Feds originally appeared on Autoblog on Tue, 18 Nov 2008 14:31:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Government/Legal, Chrysler, LLC., Ford, GM, Earnings/Financials
"Thick and fast." That's the phrase that describes the opinions, pleas, advice, denunciations, and WTF? going on around the U.S. auto industry right now. Enter Congress, which is trying to figure out how to give Detroit automakers the $25 billion they were promised a few months ago. Congressmen are sounding off almost daily on what kinds of stipulations they want to attach to the loan/bailout/whatever you want to call it -- and that's just the ones who would vote for it at all. Next up is Senator Bill Nelson, a Florida democrat, who wants U.S. automakers to achieve a fleet average of 50 mpg by 2020. Right now, the CAFE target is 35 mpg by 2020 -- a goal agreed upon only after a huge amount of jockeying in and out of Congress. Nelson asked, "Why should we be pouring taxpayer money into an automobile industry that has continued to resist higher miles per gallon, which has led us in part to the problems we're in?"
While that might sound like a great idea to some, it would cost a terrific sum of money to achieve. The Detroit Three need the money they're asking for just to get to Q2 of 2009, not to create a range of cars that would represent magnificent advances -- based on where we are right now -- in 11 years. There's a good chance nothing will be decided until the president-elect takes office, and by then, who knows what other requests Congress will have.
[Source: Automotive News - Sub. Req.]
Senator calls for 50-mpg mandate for Detroit to receive aid originally appeared on Autoblog on Mon, 17 Nov 2008 19:29:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Plants/Manufacturing, Chrysler, LLC.
One door closes, another one opens. Just as Chrysler is working to extricate itself from its deal with Getrag, the Pentastar people are about to announce a deal with ZF Friedrichshafen AG. Chrysler is erecting a plant in Marysville, Michigan that will build axles and employ 900 workers, but word is that the deal will involve ZF signing a long-term commitment to operate the plant. As far back as September, the UAW said that Chrysler and ZF were getting together. The Detroit News reported on the talks at the time, but they were described as a "non-binding discussion" and "a possibility." The Marysville factory, planned to open in 2010, would replace the Detroit Axle plant that currently employs 1,430 workers. Letting ZF run the Marysville location would allow Chrysler to put more focus on getting its survival in order. The announcement will be made at 9 AM EST tomorrow.
[Source: Automotive News, sub req'd]
Chrysler, ZF partnering on axle plant in Michigan originally appeared on Autoblog on Mon, 17 Nov 2008 17:32:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Plants/Manufacturing, Chrysler, LLC.
The roundabout that was the Chrysler, LLC-Getrag partnership recently came to an end with Chrysler pulling out the deal, citing untenable financing terms. Now Getrag Transmission Manufacturing, the U.S. company that was going to build the dual-clutch transmissions for Chrysler, has filed for Chapter 11. Getrag has done so in order to streamline its handling of claims and creditors.
Of course, it's not over: Getrag is suing Chrysler for pulling out, Chrysler is suing Getrag for not getting the $300 million financing that Getrag was supposed to bring to the table. Other than the lawsuits and bad blood, all that's left are the partial remains of the factory that was to build the transmissions, and Chrysler's need to find a source of dual-clutch transmissions. Just another monument to the turmoil the auto industry is currently mired in.
[Source: Automotive News, sub req'd]
Getrag's U.S. transmission plant files for CH11 after Chrysler pull-out originally appeared on Autoblog on Mon, 17 Nov 2008 15:33:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Economy, China, Plants/Manufacturing, Hatchbacks, Chrysler, LLC., Chery
It may be time to stop holding your breath. The planned deal between Chrysler LLC and the Chery Automobile Company to bring a Chrysler-badged Chery to our shores seems to be completely over... no, really this time. While there was nothing inherently wrong with the concept of importing the small fuel-efficient cars to North America (even if there were near insurmountable obstacles to overcome in the area of safety and emission standards), both companies have been crushed by the economy. According to a former Chery executive, "I wouldn't place much hope on it... both companies have their own problems to deal with, and both have run out of money." As neither company ever offered a public timetable for the arrival of the cars after the initial announcement early last year, the news is unlikely to come as a surprise.
[Source: Automotive News - Sub. Req.]
Chrysler's deal with Chery on hold originally appeared on Autoblog on Mon, 17 Nov 2008 14:33:00 EST. Please see our terms for use of feeds.
Permalink | Email this | CommentsFiled under: Government/Legal, Chrysler, LLC., Ford, GM
Today's lame-duck Congressional meeting is going to be an important one for Detroit automakers, with House Democrats working on a $25 billion bailout proposal. Passion is high on both sides of the bailout argument, and Democrats are looking to toughen up a bill to help gain crucial votes needed for passage. Among the items being discussed is a taxpayer stake in any assisted automaker, additional restructuring and stiff restrictions on executive pay.
House Republican Richard Shelby is one of many leaders likely to vote against the bill no matter what stipulations are added. The Alabama Republican called Detroit Automakers "dinosaurs" that need to start over. He also called for management to go, but he stated that he wouldn't support a bill even if they did. Michigan Democrat Senator Carl Levin suggested that if GM CEO Rick Wagoner had to step down to guarantee aid, he should consider it. GM is pleading for a bridge loan both in Washington and on YouTube, where the automaker released a four-minute video explaining the importance of its industry.
President-Elect Barak Obama also chimed in on the automaker bailout situation on 60 Minutes Sunday, stating that the loss of Detroit Automakers would be a disaster for the country. Obama also insisted that any loan can't be a "blank check," and that industry leaders, labor, suppliers, lenders, and stakeholders needed to agree on a long term solution that shows that loans aren't merely delaying the domestic industry's demise.
[Source: Automotive News - Sub. Req.]
Continue reading Congressional Democrats looking to toughen up bailout proposal
Congressional Democrats looking to toughen up bailout proposal originally appeared on Autoblog on Mon, 17 Nov 2008 08:27:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Government/Legal, Videos, Chrysler, LLC.
Now that the domestic industry is in dire need of cash, the American taxpayer is being bombarded with facts and figures purporting to show just how vital the industry is for the health of the overall economy. Hundreds of thousands of jobs at the automakers, millions more from suppliers and dealers -- the numbers seem to change each time, but they're always substantial. Problem is, it seems only GM and Ford ever get quoted, so Chrysler went ahead and whipped up its own little video. Hit the jump to view Chrysler's 2:42 docudrama filled with still more numbers touting the industry's importance. For example, active Ford, GM, and Chrysler employees make $22 billion per year in salaries, and the three companies pay $21 billion in retirement and health care costs. Chrysler also states that the amount of people whose wages depend on autos either directly or indirectly are equal to the population of South Carolina.
[Source: YouTube]
Continue reading VIDEO: Chrysler breaks out the Handycam, makes case for federal aid
VIDEO: Chrysler breaks out the Handycam, makes case for federal aid originally appeared on Autoblog on Sat, 15 Nov 2008 12:25:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Hirings/Firings/Layoffs, Chrysler, LLC., Earnings/Financials
Executive bonuses are a hot-button issue in these difficult economic times, and for good reason. As companies in every industry teeter on the brink of bankruptcy, paying out millions in bonuses to execs is a breach of trust to those white- and blue-collar workers in the cheap seats who are being asked to sacrifice benefits, retirement security and even their jobs to keep a company solvent. The Detroit Free Press recently discovered that Chrysler LLC has an executive bonus plan in place that will cost the automaker about $30 million at the same time it's asking Congress for federal aid money to keep the lights on. Chrysler's executive vice president for human resources, Nancy Rae, who herself is on the receiving end of $1.6 million in bonus money, tells the Freep these bonuses were designed to keep executives in place after the automaker was sold by Daimler to private equity firm Cerberus. She goes on to say the bonus plan was established by Daimler, not Chrysler, to ease a potential buyer's fear that execs would flee after the sale. Be that as it may, considering how far Chrysler is from profitability at the moment, perhaps retaining these executives is the last thing it needs. Cutting loose the suits who are partially responsible for this mess and saving millions in the process seems like a more responsible move to us than begging Uncle Sam for bailout money.
[Source: The Detroit Free Press]
Chrysler paying big bonuses to execs who stay originally appeared on Autoblog on Fri, 14 Nov 2008 08:28:00 EST. Please see our terms for use of feeds.
Permalink | Email this | CommentsFiled under: Etc., Government/Legal, Chrysler, LLC., Ford, GM, UAW/Unions
When Congress wants to hand out money, it apparently wants to include everybody. Barney Frank, Chairman of the House Financial Services Committee, is likely to propose a measure that lets automakers tap into the $700 billion vein of rescue dollars that's ostensibly intended for financial institutions, yet is being hungrily eyed by everyone.CEOs from Ford, General Motors, and Chrysler will make the trek to Washington, DC, as will UAW chief Ron Gettelfinger. All will be pleading their collective case for an estimated $100 billion-plus vitamin pill. Many, not the least of whom is Treasury Secretary Henry Paulson, think that automakers should not be allowed to snag some of the cash that's intended for financial institutions. Things look bleak for all three of the brands, but can Congress be moved to offer up some money and prolong the jobs of so many Americans? Even if the automakers get the $100 billion they're seeking, when nobody's buying, it will merely turn into taxpayers funding an increasing glut of product nobody can afford to buy. Even those consumers with money and good credit are holding back as the economy delves into recession, emotional purchases are way down, and most vehicle purchases are driven by wants versus needs. Things will undoubtedly sort themselves out, but not before more pain for Detroit.
[Source: Automotive News - Sub. Req.]
Detroit CEOs and UAW chief summoned to Washington originally appeared on Autoblog on Thu, 13 Nov 2008 13:32:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Etc., Chrysler, LLC., Ford, GM, Volkswagen
In 2001, General Motors needed a revival and Bob Lutz was anointed The One. It was widely accepted that if anyone could breathe life into a struggling car company, it was him.Fast-forward seven years, and GM is in the midst of a possible government bailout while its stock price sinks faster than a HUMMER's gas gauge on the freeway. It would seem that Maximum Bob's legendary straight-talking reputation for taking no prisoners and slicing through corporate red tape hasn't produced the results his supporters expected.
So if Bob Lutz can't save Detroit, who can? Steve Jobs, that's who. At least that's what Pulitzer Prize-winning Thomas Friedman says in his New York Times column. While some might be averse to the company, its products and/or its leader, Apple has made a ton of money while re-defining the computer, music and mobile phone industries. Isn't innovation what Detroit needs most?
What Friedman proposes is asking Steve Jobs to perform a "national service" for his country by taking reigns of one of Detroit's automakers for a year. The columnist has so much faith in the visionary talents of Jobs, he believes we'll all be lined up for a chance to buy a shiny new Chevrolet iCar. Or a JeepPro. Or a Mercury Lisa.
But we've heard in the past that Apple's CEO has been working for the other teams, so maybe Steve Wozniak could find some time in his schedule.
[Source: The New York Times via MacDailyNews]
NYT columnist calls on Steve Jobs to fix Detroit originally appeared on Autoblog on Wed, 12 Nov 2008 17:01:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Car Buying, Minivans/MPVs, Marketing/Advertising, Chrysler, LLC., Humor
Click image to see the dealer ad
"Truth-enhanced" car dealer advertising is nothing new. After all, how many times have you seen a newspaper ad for a special on, say, a base model, when the accompanying image shows a fully-optioned, range-topping version of the car instead? It's your job to read the fine print and stay informed so that you're not disappointed by the crank-window special the salesman presents when you get there.
To that end, we'd like to offer a helping hand to potential customers of Lynnfield, MA's Kelly Jeep. If you visit their website and click on "New Vehicle Specials" (under New Vehicles), you'll find a listing for an '08 Chrysler Town & Country. Okay, fine -- but the image that's paired with the listing is the one above. It's the Photoshop love child of the Euro-spec 300C Touring and a Town & Country. In fact, it doesn't look half bad with the 300's front end, big wheels, and flared fenders. One might even be tempted to ask, "Damn, that thing got a Hemi?" Whatever the case, it's more appealing than the blandtacular actual Chrysler Town & Country, which is what the nice man at the dealership will be happy to show you. We understand that the car in the photo above is hidden away in a barn where the owner also keeps a stable of unicorns. Thanks to Koko for the tip (and the laugh).
Gallery: Dealer ad with photochopped 300C/Town & Country Mashup
[Source: Kelly Jeep]
Dealer Advertising Fun: Chrysler 300C/Town & Country mashup originally appeared on Autoblog on Tue, 11 Nov 2008 19:29:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Car Buying, Chrysler, LLC., Dodge
Joining Denny's, Dunkin' Donuts and Dairy Queen, Dodge has rolled out its version of a discount for the geriatric among us. While the aforementioned restaurants will cut prices for anyone generally over the age of 50, Dodge is seeking card-carrying AARP members (it's $12.50 per year, in case you need to join). Presenting a valid AARP card at the time of sale will get you "Employee Pricing" (or better) on all 2008 and 2009 Dodge vehicles except the Sprinter, Challenger, and Viper SRT 10 ACR models. According to the fine print, the program isn't compatible with other national incentives and it expires (the incentive program, not Chrysler LLC) on January 2, 2009. There's also a $200 fee just to be eligible for the offer, which our penny-pinching parents aren't going to like one bit. Thanks for the tip, MarkWeb!
[Source: Dodge, Photo by taberandrew | CC2.0]
Senior Discount! Dodge offers employee pricing to AARP members originally appeared on Autoblog on Tue, 11 Nov 2008 17:28:00 EST. Please see our terms for use of feeds.
Permalink | Email this | CommentsFiled under: Chrysler, LLC., Hyundai, Earnings/Financials
Despite Reuters reports of Hyundai's interest in Chrysler and specifically the Jeep brand, Hyundai has gone on record denying it. We've grown accustomed to automakers giving the arbitrary "no comment" response when the rumormill swirls with corporate takeover talk, but Hyundai has flat-out denied any interest at all. Almost in the same sentence, though, officials from the Korean automaker state that the company is interested in constructing new plants overseas, so we wonder if there's any fire behind the smokescreen, possibly outside the United States. Perhaps not.
There still remains the chance that Chrysler's automotive operations will be parted out and sold to the highest bidder, regardless of who that party may be. At the very least, Cerberus could decide to sell manufacturing plants to various automakers like Hyundai or the Nissan/Renault alliance, whose offer for 20% of the ailing American automaker may not seem so bad after all.
[Source: Trading Markets]
Hyundai officially denies interest in Chrysler LLC originally appeared on Autoblog on Tue, 11 Nov 2008 09:00:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Sedans/Saloons, Marketing/Advertising, Chrysler, LLC., Dodge, UK
Click above for high-res gallery of the 2008 Dodge Avenger R/T
The Dodge Avenger wasn't exactly selling like hotcakes here in the US, even before the auto market took a nosedive. We can't imagine the Avenger ever sold well overseas as an export to the UK, and the under-developed Dodge's newest incentive supports our assertion. Car-buyers in the Kingdom can pick up a nicely equipped Avenger SXT 2.4 saloon at the MSRP of £18,255. As a reward for taking the Avenger off the dealer's hands, they'll get a second Avenger free of charge. Broadspeed.com is offering the buy one, get one sale with the aim of easing the massive amounts of stock dealers are carrying right now. The problem isn't exclusive to the Avenger, though, as many dealers are sitting on six month inventories due to slow sales on the island. Given the massive problems selling cars in the UK, the deals on the Avenger still stand out as incredible. Maybe Dodge dealers here in the US will take note, though we're sure there are plenty of people that think the only thing worse than owning an Avenger would be having two. Thanks for the tip, everyone!
Gallery: 2008 Dodge Avenger R/T
[Source: AutoCar]
UK site offering two Dodge Avengers for price of one originally appeared on Autoblog on Mon, 10 Nov 2008 08:28:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Chrysler, LLC., Daimler, Earnings/Financials
So, just what is a 19.9% stake in America's third largest automaker worth? Um, nothing. So says Daimler, which owns exactly that amount. The German company claims that, for accounting purposes at least, there is absolutely no value in its part-ownership of Chrysler. Just about a year ago, Daimler estimated that its share of Chrysler was worth some $1.17 billion. The remaining 80.1% was sold to Cerberus Capital Management last August for $7.4 billion.According to Chrysler, Daimler's idea of its stake in the company is a totally different animal than its own. The two companies use different accounting techniques to arrive at earnings figures and net worth, and the privately-held American automaker doesn't release its internal figures. As we've covered, Daimler is currently in talks with Cerberus to rid itself of any attachment to its former partner by selling its remaining shares of Chrysler to the American company, which it would need if it were to make any sort of deal with General Motors, Renault or any other automaker for that matter. So, just how much is Chrysler worth as a whole? We could soon find out.
[Source: The Detroit News]
What's Chrysler worth to Daimler? Zip, Zero, Nada, Donut originally appeared on Autoblog on Fri, 24 Oct 2008 16:59:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Car Buying, Economy, Euro, Green, Daimler, SMART, Lifestyle
Click above for high-res shots of Daimler's car2go service
Cars represent freedom, right? Sure, but shouldn't that same freedom be available to those who can't justify purchasing their own car? Daimler thinks so, and has created a new pilot program called car2go that allows subscribers to rent a smart fortwo for just 19-cents a minute or less, depending on how long you need the car. The initial roll-out is taking place in Ulm, Germany and begins October 24. The cars can be reserved at a moment's notice from the internet, a mobile phone or in passing using an electronic chip that's given to the user upon the account's creation. There are no limits as to how far the car car be driven, and it can be parked and relocked wherever the driver's trip ends as long as it's within the city limits.
At the outset, there will be 50 smart fortwo's in use by car2go. For a trial period, only Daimler employees will be able to use the service, but the automaker hopes to expand to all Ulm citizens in the spring of 2009. We imagine the car2go service will expand into other locations based on how successful this pilot program proves to be, but don't hold your breath for smart rentals in the U.S. anytime soon.
Gallery: Daimler car2go
[Source: Daimler]
Continue reading Daimler's car2go: Rent a Smart anywhere, anytime
Daimler's car2go: Rent a Smart anywhere, anytime originally appeared on Autoblog on Tue, 21 Oct 2008 16:59:00 EST. Please see our terms for use of feeds.
Permalink | Email this | CommentsFiled under: Hirings/Firings/Layoffs, Daimler
The automotive industry is reeling under serious financial woes, plant closings and job cuts, so news that Daimler AG will be adding 1,000 new people to its payroll next year comes as a bit of a shock. The new jobs will be added globally, with 500 positions going to Daimler's headquarters in Stuttgart, and the rest being distributed around the world. These new positions will reportedly train the automaker's next generation of workers, which are entering the industry at a time when expertise in complex developing technologies are essential for survival. Even with the added jobs, Daimler can't cut any positions until 2012 because of an agreement already in place with its employees. Just like every other automaker, it's hoping to weather the rough time in between by focusing on efficiencies and flexibility wherever possible. So that's one piece of good automotive news, now let's get to work on those stock prices.
[Source: CNN Money]
What recession? Daimler adding 1,000 to payroll next year originally appeared on Autoblog on Sun, 12 Oct 2008 19:29:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Chrysler, LLC., Daimler, Earnings/Financials
Both Cerberus and Daimler have announced plans for the German automaker to sell the remaining 19.9-percent stake in Chrysler to the private equity firm. According to reports coming out of Germany, that relatively small stake in the American automaker is still weighing down Daimler's stock price. Perhaps the Germans aren't so sure that Chrysler's new electric vehicles will ever see the light of day? In any case, both sides suggest that all the rest of the two company's relationships would continue, so technology sharing and diesel engines could still be made available to Chrysler from its former German parents.
Note that the first 80-percent of Chrysler was sold to Cerberus for $7.4 billion. We wonder what the other 20-percent is worth.
[Source: Detroit Free Press]
Daimler may sell remaining Chrysler stake to Cerberus originally appeared on Autoblog on Wed, 24 Sep 2008 16:31:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Sedans/Saloons, Daimler, Tata
It's lonely at the top. If you've got a big budget to buy a big luxury sedan, you're typically looking at a Bentley Arnage or a Rolls-Royce Phantom (Mercedes tried to make a go of it with Maybach, but never really managed to establish itself outside the Persian Gulf and hip-hop videos). Now Jaguar's new owners at Tata want to take on the establishment with a storied name of its own: Daimler.
Not to be confused with the Mercedes parent company, Daimler has the same roots as the British subsidiary of Gottlieb Daimler's operation. Between 1896 and 1960, Daimler made a range of elegant limousines. After being acquired by Jaguar, the brand was relegated to becoming the top trim level of Jaguar XJ saloons. When Tata bought Jaguar, it also acquired the rights to the Daimler name (which the German company shares under license). Tata is now considering reviving the Daimler brand with a new luxury range, but it'll have quite a job on its hands distinguishing itself in name from the Mercedes parent company and in essence from the known quantities of Rolls-Royce and Bentley.
Gallery: Daimler Super 8
[Source: Auto Motor & Sport (Sweden) via The Truth About Cars]
Tata to enter uber-lux segment with Daimler revival originally appeared on Autoblog on Wed, 30 Jul 2008 07:57:00 EST. Please see our terms for use of feeds.
Permalink | Email this | CommentsFiled under: Euro, Chrysler, LLC., Daimler, Earnings/Financials
Normally the privately owned Chrysler LLC is under no obligation to reveal its financial performance to Wall Street, but yesterday the Cerberus-owned automaker was forced to show a few pages from its accounting books thanks to one of its largest stakeholders and former owner, Daimler AG. The German automaker revealed that in the last six months, its 19.9% stake in Chrysler has cost it $585 million. To clarify Daimler's numbers, Chrysler also revealed yesterday that the loss being attributed to it, all of which was incurred in Daimler's first fiscal quarter of the year, is around 65 million euro, or $103 million, using American accounting standards. Perhaps realizing that all analysts had to do was multiply Daimler's loss by five to arrive at Chrysler's total loss for the last quarter, the automaker just came right out and said it lost about $515 million. While a mere pittance to the $8.7 billion worth of red ink Ford spilled during Q2, it was enough to drag down Daimler's numbers halfway around the world.
[Source: The Detroit News, Photo: Fire Monkey Fish | Licensed under Creative Commons 2.0]
Daimler forces Chrysler to give up goods on $515M Q2 loss originally appeared on Autoblog on Fri, 25 Jul 2008 10:59:00 EST. Please see our terms for use of feeds.
Permalink | Email this | CommentsFiled under: Green, Daimler, Mercedes-Benz, SMART
When it comes to increasing fuel economy, turbochargers are the replacement for displacement. The combination of highly efficient snails and smaller engines provides the power people expect, while reducing the overall weight of the vehicle. Like other automakers that have realized that forced induction is a suitable stop-gap for improving fuel economy, Mercedes-Benz is in the process of developing turbo'd engines that will proliferate throughout its lineup in the next two and a half years.
Thomas Weber, a Daimler board member in charge of research and development told Automotive News, "All our vehicles will have turbocharged engines in series production by the end of 2010 at the latest."
Mercedes is joining BMW and Audi by investing heavily into forced induction, primarily to cope with new fuel economy standards in the U.S. and Europe. But turbos are only going to take them so far. Mercedes plans to introduce hybrids into its lineup towards the close of the decade, beginning with the S-class sedan in 2009. According to Weber, zero-emission vehicles are the automaker's long-term goal and Daimler intends to push heavily towards fuel-cells and electric-powered vehicle in the future, including an electric smart fortwo which will go into production sometime in 2010.
[Source: Automotive News - Sub. Req.]
Mercedes-Benz to introduce fully turbocharged lineup by 2010 originally appeared on Autoblog on Thu, 17 Jul 2008 13:16:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Car Buying, Sedans/Saloons, Daimler, Mercedes-Benz, Earnings/Financials
With sales of the Mercedes-Benz S-Class down 23 percent in the United States, and off nearly 12 percent worldwide, Daimler officials are showing concern. The luxurious S-Class is the most profitable model in the lineup, contributing up to an estimated 25 percent of Daimler's pre-tax profits, the drop is getting painful. With the exception of the new C-Class (up 38 percent), overall sales for the German automaker have fallen in the first six months of the year. In response, Daimler is diverting shipments of vehicles to China and Russia as those emerging markets have yet to see a slowdown.
[Source: Automotive News, subs. req'd]
The wealthy concerned about gas prices? Merc S-class sales fall originally appeared on Autoblog on Mon, 14 Jul 2008 14:32:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Concept Cars, Coupes, Sports/GTs, Euro, Supercars, Daimler, Maybach
Click above for a high-res gallery of the Maybach Exelero
Big-bucks enthusiasts annoyed that they're not the only ones at the club with a Veyron can now ensure that they arrive in total exclusivity. That's because the one-off Maybach Exelero, commissioned by Fulda to act as a high-profile demonstrator for its tire line of the same name, is now for sale. The Exelero isn't some delicate flower of a show car. Based on the Maybach 57 and powered by a 700-horsepower version of that car's turbocharged V12, the Exelero reached 218 mph at Nardo. In many ways, Exelero represents what Maybach could have and should have been -- a place where daring styling and incredible performance could merge with extreme luxury to compete with Rolls-Royce and Bentley. Instead, while the marque's sedans clearly get the luxury part of the equation right, in terms of styling, they basically work in anonymity, looking like peculiar old S-Class sedans. There's nothing anonymous about the Exelero, though, and for €5,000,000 (around $7.8 million USD), you can drive the sybaritic supercar that Daimler should have given Maybach all along.
Gallery: Maybach Exelero
[Anamera via eGMCarTech]
The Maybach Exelero can be yours... for $7.8 million originally appeared on Autoblog on Sun, 06 Jul 2008 13:03:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Hybrids/Alternative, Green, Daimler
A few months back, Tesla Motors revealed that its upcoming WhiteStar sedan would be available in two variants, a pure battery electric like the Roadster and a range-extended electric more like the Chevy Volt. We still don't have many details on the car, although we do know that lessons learned while working on the drivetrain for the heavier sedan have been fed back into the Roadster for its updated 2.0 drivetrain.
As a small start-up with limited resources, developing a new engine for the WhiteStar would obviously be problematic. Tesla Chairman Elon Musk let slip in an interview with Fox Business News that the company has reached a technology deal with German giant Daimler (formerly of DaimlerChrysler infamy). Without any official comment from Tesla yet (we'll update you when we here something), one possible scenario for the deal is that Daimler will provide engines for the range extended WhiteStar. Daimler has always struggled to make money from Smart and the micro-car builder has a 1.0L three cylinder engine that might make a good range extender. If Daimler supplied 10,000 or so of those engines to Tesla, it could help drive down Daimler's costs. The other possibility is that Tesla might be licensing battery management technology to Daimler, but that scenario seems less likely.
Update: Tesla VP Darryl Siry declined comment on the matter.
[Source: Just-Auto - sub. req'd]
Is Tesla Motors working with Daimler? originally appeared on Autoblog on Thu, 12 Jun 2008 12:01:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Plants/Manufacturing, Daimler, Jaguar, Land Rover, Mercedes-Benz, Tata
The sale of Jaguar and Land Rover to Tata means that the two British marques will have to look elsewhere for the parts normally supplied by Ford. Following the news that Daimler could be a supplier to both automakers comes word from Dr. Z himself that a deal is a distinct possibility.
Daimler holds a seven-percent stake in Tata Motors, which could make an easy case for Mercedes to supply Jag and L.R. with the necessary components to wean them off of Ford. Dieter Zetsche told Auto Motor und Sport that, "If Ratan Tata approaches us regarding the supply of components, we would be open to talks." AMG-powered XF, anyone?
[Source: Auto Motor und Sport via Automotive News - Sub. Req.]
Jaguar and Land Rover could strike a deal with Daimler originally appeared on Autoblog on Mon, 05 May 2008 13:32:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Chrysler, LLC., Daimler, Mercedes-Benz, Earnings/Financials
Daimler may have divested 80.1% of its ownership in Chrysler, but the German automaker is still feeling pain from the Pentastar. The value of Daimler's portion of Chrysler has dropped from $2.18 billion to $852 million not even a year after the two parted ways. The loss of nearly $1.4 billion in value is a fair chunk of change, even for the mighty Daimler, but the news is not all bad for company shareholders. If Daimler hadn't sold Chrysler to the private equity firm Cerberus as fast as it did, the automaker's stock would likely be in much worse shape.
Since the privately owned Chrysler, LLC doesn't have to report earnings, it claims that its fiscal standing is all peaches and cream. According to Chrysler, the company has had positive earnings since it was bought out by Cerberus last year. The official line that explains the discrepancy with Daimler's reporting is that U.S. accounting rules are much more favorable than those overseas. Damn accountants.
[Source: Automotive News - subs. req'd]
Daimler reduces book value of Chrysler stake by two-thirds originally appeared on Autoblog on Thu, 01 May 2008 11:34:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Daimler, Maybach, Earnings/Financials
Daimler will take the next two years to decide whether to invest more in its failing Maybach flagship marque or else shut it down. This comes from the mouth of Daimler and Mercedes chief Dr. Dieter Zetsche, who inherited the problem-child brand from his predecessor, ex-CEO Juergen Schrempp.
After ditching Chrysler, another deal that was orchestrated by Schrempp, Dr. Z may be inclined to shut down Maybach, too. By all accounts the ultra-premium brand has not been a sales success, barely reaching ten percent of its original sales forecast. In speaking with TheCarConnection.com, however, Zetsche insisted that Maybach's profitability "does not matter" in the face of demonstrating Mercedes' capability of competing with archrival BMW's pinnacle Rolls-Royce (and Volkswagen's Bentley), but that may prove to be all talk if Maybach doesn't present a solid business case. Zetsche confirmed that there are currently no plans on the table for new Maybach products - cutting short speculation over a new baby Maybach positioned between the current 57 and the Mercedes S-Class - and that even the outrageously-priced 62 Landaulet was unlikely to make much headway in turning the brand's fortunes around. We guess P.Diddy and his crew will have to find another ride.
[Source: The Car Connection]
Daimler considers shutting down Maybach originally appeared on Autoblog on Mon, 17 Mar 2008 13:01:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Hatchbacks, Daimler, Mercedes-Benz, SMART
According to the latest reports, Mercedes has finally realized why its A-Class and B-Class compacts haven't been doing so well: they're boring, overpriced and underpowered... and that's a losing combination. So for the next generation of the two model lines that's expected around 2011, Mercedes is reportedly preparing to turn up the volume.
Although the next-gen baby Benzes will reportedly stick with front-wheel-drive, they'll sit lower to the ground - and save production costs - by ditching the expensive current models' sandwich platform. Whereas the 193-hp 2-liter turbo is currently the most powerful engine offered between the two related models, sources indicate that the top engine could offer as much as 230 hp, possibly sourced from BMW off all companies whose 1-Series Mercedes hopes to target with the sportier new A and B-Classes. Meanwhile, reports also suggest that competition from the up!coming Volkswagen models could compel parent company Daimler to bring back the previously slow-selling and subsequently discontinued Smart ForFour.
[Source: Auto Motor und Sport via Motor Authority]
Mercedes to pump some extra octane into next A- and B-Class originally appeared on Autoblog on Tue, 19 Feb 2008 11:01:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsFiled under: Government/Legal, Green, Daimler
The automaker formerly known as DaimlerChrysler isn't finished making headlines yet. The NHTSA, which levies fines for manufacturers not meeting CAFE standards, has issued its largest penalty to any automaker, ever, by giving DaimlerChrysler a bill for $30,357.635.50.
The fine is for the carmaker's entire fleet, which includes Mercedes models produced here and overseas. According to the NHTSA, "The penalty for failing to meet CAFE standards recently increased from $5.00 to $5.50 per tenth of a mile per gallon for each tenth under the target value times the total volume of those vehicles manufactured for a given model year."
To be fair, it's only the biggest by a (relatively) small margin, seeing that BMW paid $27,985,925.00 in 2001 -- especially if you consider the drop in the dollar in that time. If you're wondering where part of that European car premium goes -- after it goes into the treasury -- CAFE fines seem to be something Europeans specialize in. Of the more than half a billion dollars in civil CAFE fines, not a cent has been contributed by domestic or Asian automakers. Yet.
[Source: NHTSA via The Truth About Cars]
NHTSA releases '06 CAFE fines, Daimler(Chrysler) takes cake originally appeared on Autoblog on Mon, 31 Dec 2007 08:33:00 EST. Please see our terms for use of feeds.
Read | Permalink | Email this | CommentsArchive for the 'CHRYSLER' Category
Chrysler Pacifica
Monday, March 27th, 2006
Details info:
Alternative names:
Sales Company:
Available version:
3.5 V6 24v 4wd AutoStick
Previous version:
Variation:
Startech (Germany) Chrysler tuning
Donors:
Chrysler Crossfire
Monday, March 27th, 2006
Details info: Alternative names:
Crossfire (Chrysler Europe - Germany)
Chrysler Crossfire Roadster 2d
Sales Company:
Chrysler Europe (Germany)
Available version:
3.2 V6 18v 160kW
3.2 V6 18v aut. 160kW
SRT-6 - 3.2 V6 18v 246kW Supercharged
SRT-6 - 3.2 V6 18v 246 kW Supercharged aut.
Previous version:
Assembly Plans:
Karmann (Germany)
Info:
Chrysler Crossfire was developed after a concept version of the car was revealed at the 2001 North American International Auto Show in Detroit. A production version was unveiled one year later at the 2002 Los Angeles Auto Show. Manufactured by Karmann in Germany this new sporting coupe is a symbol of the possibilites of the DaimlerChrysler Group. Powertrain and axle components are shared from Mercedes-Benz cars.
11000 cars are scheduled to be produced in 2003.
Donors:
Chrysler Crossfire Coupé 3d
Sunday, March 26th, 2006
Details info: Alternative names:
Chrysler Crossfire Coupé 3d
Sales Company:
Chrysler Europe (Germany)
Available version:
3.2 V6 18v 160kW
3.2 V6 18v aut. 160kW
SRT-6 - 3.2 V6 18v 246kW Supercharged
SRT-6 - 3.2 V6 18v 246kW Supercharged
Previous version:
Variation:
Startech (Germany) Chrysler tuning
Startech (Germany) Coupé
Info:
Chrysler Crossfire was developed after a concept version of the car was revealed at the 2001 North American International Auto Show in Detroit. A production version was unveiled one year later at the 2002 Los Angeles Auto Show. Manufactured by Karmann in Germany this new sporting coupe is a symbol of the possibilites of the DaimlerChrysler Group. Powertrain and axle components are shared from Mercedes-Benz cars.
11000 cars are scheduled to be produced in 2003.
Assembly Plants:
Karmann (Germany)
Donors:
Chrysler 300C
Sunday, March 26th, 2006
Details info: Alternative names:
300C (Chrysler Europe - Germany)
Chrysler 300C Limousine 4d
Sales Company:
Chrysler Europe (Germany)
Available version:
2.7 V6 24v aut.
3.5 V6 24v aut.
5.7 V8 Autostick
SRT-8 - 6.1 V8 AutoStick
Previous version:
Variation:
Limousine 4d (2004 - )
Estate 5d (Touring) (2004 - )
Assembly Plants:
Info: New offering from Chrysler with retro styling and HEMI engine.
Donors: