Just minutes ago, Cerberus Capital Management officially took over 80.1 percent of the Chrysler group from DaimlerChrysler. The effects of the transaction on DaimlerChrysler will be explained on Aug. 29, according to DaimlerChrysler officials.
Dieter Zetsche, Chairman of the Board at DaimlerChrysler and head of the Mercedes group, said: “Today marks a new chapter in the history of our company.”
DaimlerChrysler will retain 19.9 percent of Chrysler Holding LLC, as the group is now officially known. The basic details of the transaction did not change since the agreement was signed on May 14.
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08/03, 11:37 AM
posted by:
Piablo
Time to start making money…
08/03, 11:50 AM
posted by:
AMGoff
Thank xxxxing God… no more of this Diamler bullxxxx. Hopefully the new owners will give the Stuttgart a big American “xxxx you” when Diamler tries to force Chrysler into using overpriced, underperforming Mercedes components.
This is a good day indeed.
08/03, 12:09 PM
posted by:
tppp
^agreed
08/03, 12:15 PM
posted by:
Driven
In Greek mythology Cerberus was a multi headed hellhound that guarded the gate to Hades and ensured that spirits of the dead could enter but none could exit.
Somehow its fitting Cerberus bought Chrysler. Anyone else foresee them eventually breaking up Chrysler and selling off the physical pieces & nameplates? Certainly Jeep & Dodge can command a good price separately to competitors & Chrysler could be sold to one of the Chinese manufacturers. The autos would live on just under more profitable companies that can do more with the brands.
08/03, 12:37 PM
posted by:
autonut
Driven, very thoughtful observation on future of the brand. Future of employees I suspect is less promising, especially if brand owned by China or India.
08/03, 12:45 PM
posted by:
GL1
getting diamler out of it is a REAL GOOD thing for Chrysler.. However I wonder if the new owners bought them just to conduct a fire sale later and dump it off… I hope not….
08/03, 12:45 PM
posted by:
Htay5500
speaking of chrysler, I hope the new van is a whole improvemnt!
08/03, 12:52 PM
posted by:
jackjimturkey
AMGoff: The finger — Not index, pinky, ring or thumb — shoukd go to Wall Street. as a private company, Chrysler can pursue a turnaround without having to worry about 10-Ks and 10-Qs
08/03, 12:54 PM
posted by:
jackjimturkey
Driven: you had a good point.
htay: chrysler minivans are the best, but even their lifetime warranty doesn’t make me want one. i’m planning to escape!
08/03, 1:02 PM
posted by:
Piablo
I’m sure they could make a buck by dividing and selling off the pieces. But that’s soooooo 80’s. Today, the goal is to make 2 bucks. I think we all agree that Chyrsler has little room to go but up. There is a ton of cash to be made in Chrysler and from everything I have read about Cerberus, they seem like the group that will do it. If anything, I would expect Cerberus to ADD to Chrysler Holding either a high performance brand or luxury.
08/03, 1:49 PM
posted by:
Stuart
As a Daimler supporter i would always have prefered to drop the lot of chrysler including the 20%, even for free if need be. Plus I would also block any part sharing with Chrysler and make it clear to the world that Mercedes has nothing to do with Chrysler in anyway. Then seriosly consider sharing part with only BMW with the prospect of sharing platforms for small cars and the 3 series/C-class to maximize profits.
As for chrysler, it looks like BMW/Rover scenario all over again. Either way Chrysler is in the deep end and if it doesn’t learn to swim then it will drown fast.
08/03, 2:26 PM
posted by:
sunshine1810
What is Cerberus waiting for? They should have shocked the public with an over engineered car that looks incredible. I guess their going to continue making Calibers and Sebrings.
08/03, 2:34 PM
posted by:
musclemustang94
I dont think chryslers turn around is going to be that diffucult for cerberus to pull off. They do, after all, make more money per car than any other car company in the world.
08/03, 2:36 PM
posted by:
Piablo
Sunshine – And they’re just going to pull an over-engineered design out of a hat?? Product design is hardly their biggest problem anyway.
08/03, 4:22 PM
posted by:
Commodore
I am glad Chrysler is back under American ownership. Nothing would have been worse than if China or India got a hold of it and used its dealer network to sell their POS cars here.
08/03, 5:55 PM
posted by:
1c3d0g
Great news. Now let’s kick ass!
08/03, 7:03 PM
posted by:
Blakkarr
Good luck, Chrysler. You’re gonna need it.
08/03, 8:27 PM
posted by:
Stuart
musclemustang94 – Let alone Chrysler I don’t think any american manufacturer makes any money at all.
08/03, 8:28 PM
posted by:
Rompn4x
Never trust Germans =P
08/03, 8:51 PM
posted by:
Driven
Commodore, no worries about China cars being sold in the US anytime soon. They cant even pass a basic crash test in Europe. They would never pass the strict US standards.
08/03, 9:45 PM
posted by:
AMGoff
Amazing how Stuart must always comment on every single Chrysler stories even when he has no interest and nothing but disdain for the company… maybe I should start commenting more Mercedes stories… oh wait! I don’t give a flying xxxx about Mercedes… no xxxx, I always wondered why I don’t comment on them that much…. but noooo… we don’t like Chrysler so we ALWAYS have to comment on them. Quite frankly I don’t want Mercedes parts in Chrysler at all, but for completely different reasons. Only a company like that from Stuttgart would force their “partner” to use inferior, overpriced parts just to add to that other division’s bottom line. Why the xxxx do you think they held onto 20%? To make more money! They know Chrysler will come back like they have always done. So now, after marching straight up Chrysler’s ass as if it were Poland, they figure once Chrysler is back on their feet they can come back and rape some more…. I wish they had sold their entire stake, so we could be done with those German bastards once and for all.
08/03, 9:52 PM
posted by:
Deanster
Just hope they fix the xxxxing Jeep Wrangler quality issues and drop a diesel in it. I’m itching to get one, but I’m xxxxing apprehensive the way it is at this moment.
08/03, 11:09 PM
posted by:
jdasch1
Cerberus will end up selling off Jeep someday soon and then selling Chysler Credit. Leaving them with a small little car company to sell to the highest bidder….then Chysler/Dodge will be back! Just a prediction…
08/04, 9:21 AM
posted by:
Driven
Wouldnt it be interesting if Jeep is sold and the new owners of Land Rover pick it up? SUVs are a slumping section of the market but that company would own most of it. It would be great to see what highly capable truck would come of a Jeep/LR partnership.
08/04, 4:44 PM
posted by:
buytheredcar
Why is everyone so down on Daimler?
Chrysler has done what they’ve always done. Pick one theme and just alter it.
Big big versions of it, small version of it, alternative front ends/rear ends while calling it a new model, etc…
Sells really well when the initial theme comes out then it levels off drastically.
More cut backs, fire employees, etc…
Chrysler has done gimmicky cars way before Daimler.
Look at the new Sebring. Id take a Honda Accord anyday.
Chryslers new parents need to analyze what the Koreans are doing.
No gimmicks, just constant steady improvement.
08/05, 12:53 AM
posted by:
autonutt
I saw a comment in another forum that seemed interesting.. what if Cerebrus picks up Jaguar and Land Rover from Ford? Then they will have access to the Jaguar-owned “Daimler” marque name.. and the company can be renamed DaimlerChrysler once again!
08/05, 11:39 AM
posted by:
jackjimturkey
Rompn4x, AMGoff, my wife is German
Driven: an analyst i talked to months ago pretty much made the same call you just speculated on. he said jeep was DCX’s most valuable brand
red car: the only place i’d “take” an accord would be to ANY other dealer to trade that POS in!
Who killed the Prowler?
08/05, 11:44 AM
posted by:
Stuart
AMGoff – How stupid are you? Seroiusly do you ever actally read what other people say before you start barking? Where have I written that i don’t like Chrysler? Just point out just one time I have said this.
As for Chrysler, Merc unfortunately was tied with chrysler for nine years and so I hoped they should have suceeded together. Now they are actually broken I am 100% sure mercedes will do well but in a way still hope chrysler. Besides any one person is not restricted to only commentting on one manufacturer so think is that next time you open your racist mouth.
You accused daimler of this and that but where is your proof ??? Unless you can get someone high enough in the company that actually witnessed what you said (like Mr Lasorda or Dr Zetche)to prove this, then what ever accusations you made is gossip and not worth listening to. Plus one of the main people to run Chrysler then will still run it now and he happens to be GERMAN.
Besides mercedes dumped chrysler and not the other way round. They were willing to pay for someone to take Chrysler. That just shows they wanted out so why would they want the 20%? It might be because Cerberus (rather then Daimler) wanted Daimler to stay as part of the condition to buy Chrysler. I bet you daimler is probably plotting a way to dump the shares right now. The sooner the better I say.
08/10, 12:37 PM
posted by:
BLISS
I HOPE CHRYSLER IS IN GOOD GOOD HANDS.
08/10, 12:41 PM
posted by:
BLISS
WELL ITS TIME FOR MERCEDES-BENZ TO GO BACK TO MERCEDES-BENZ……A VERY VERY VERY PROMISING FUTURE AHEAD….THE WORLD WILL BE GREATLY SUPRISED WITH FUTURE PRODUCTS….TRUST ME BECAUSE I KNOW.