By on March 13, 2008

1956368-lg.jpgThe autopblogosphere is abuzz with Chrysler CEO Bob Nardelli's memo to his employees, ordering the entire company to take a two-week vacation on July 7. Nardelli said he was putting 19k white collar and 52,500 hourly workers on simultaneous furlough to "create better alignment and efficiency across organizational lines and boost productivity." Huh? While most analysts take Nardelli at his word, and a company-wide summer break is an industry norm, rumors are circulating that Chrysler is going to file for bankruptcy while its workforce is off-site. Chrysler's market share losses and cash conflagration has continued (if not escalated) unabated since Cerberus bought the ailing automaker from [what was then] DaimlerChrysler. Chrysler workers' summer "vacation" could well be permanent.

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33 Comments on “Wild Ass Rumor of the Day: Chrysler Files for Bankruptcy on July 9th...”


  • avatar
    Jerome10

    Wait. Can they really file chapter 11? This is part of Cerberus, so wouldn’t Cerberus have to file?

    I don’t know how the laws work… but if Chrysler isn’t really an independent company, can that “arm” of Cerberus file C11 alone?

    I had this at a job once. Mandatory 10 days vacation in a certain quarter. It was done because the company can write down the liability of having to pay vacation time to those who quit/are laid off, etc. If you can bank, say, 300 hours of saved up vacation time, they force you to use up 2 weeks of it and then they no longer have your 2 weeks of salary as a liability.

    So it wouldn’t surprise me if maybe Chrysler employees generally are given 2 weeks a year vacation plus holidays, and instead of letting them choose when they want to take their two weeks, they’re making them take it all at once in July. Then when it comes time for them to sell the place to Nissan, they can up the asking price cause they don’t have millions of paid vacation liability on the books. So maybe there is merit to this….

    This is really sad stuff. I’ve got more personal connections to Chrysler employees than anywhere else (though never owned a single chrylser product). I’d like to think they’ll pull through (I think GM and Ford will make it…), but even I gotta admit. Chrysler’s done. Just 10 years ago they were flyin high. Now this. Very sad stuff.

  • avatar

    Jerome10 :

    Wait. Can they really file chapter 11? This is part of Cerberus, so wouldn’t Cerberus have to file?

    Chrysler is an LLC. They can file without taking Cerberus down with them.

  • avatar
    mel23

    Don’t think for a minute that corporations didn’t write the BR laws to meet their needs/wants. Congress has a role like that of a stenographer. When Delphi filed, it was the US portion only. A day or so ago Carlyle Capital collapsed due to margin calls, yet the main entity rolls on. No doubt Cerberus covered themselves when getting involved with GMAC as well as Chrysler.

  • avatar
    menno

    The one remaining question is this;

    will it be a Chapter 11 (reorganization) – or –

    will it be a Chapter 7 (dead, la morte, kaput, deceased, no more)

    So much for your “lifetime warrantee” you lucky Chrysler LLC car buyers, if it’s Ch. 7

    My last Chrysler product was a Neon. Any questions on why I gave up on them?! (Hint: head gaskets! KABOOM!)

  • avatar
    RayH

    I changed my bet from Ford to Chrysler on who would file chapter 11 first when they started offering the lifetime powertrain warranty.
    It should almost certainly be chapter 11, unless there’s some great profit/tax advantage to Cer. to file 7… if there is, that might have been their intention all along.
    At the very least, it gives Ford and GM a better excuse to file now, “we can’t compete with the advantage Chrysler has with bankruptcy.”

  • avatar
    Captain Tungsten

    GM plants shut down for the first two weeks of July, and most salaried employees in manufacturing take one or two of those weeks as mandatory vacation. It’s been that way for the past 10 years. I believe Ford does the same. Sounds like Chrysler is just joining in on the fun.

    Kinda points out how much the “autoblogosphere” actually knows about the industry.

  • avatar
    kjc117

    Either way I feel sorry for Chrysler. Raped by Eaton and his boys then by the Germans. In addition, their whole line is appeals only to one demographic.

    Chryslers answer to against top sellers, Camry and Accord is the Sebring! Of course Chrysler spends years developing the Challenger!

    Their ansewer to the new Tundra is a 1995 Ram. In fact, all of Chrysler’s line up is about 10 years behind the competition.
    Which is about the same time Diamler took them over. Hmmm…take notice SAAB lovers!!

    As for Ford, I knew they would not go under. Ford unlike Chrysler has products that appeals to the general public.
    Ford Edge/Mazda 6 is a legit competition to the Camry and Accord. Ford even uses Toyota’s Series I hybrid system for their Escape. Ford has modern technology though someone else’s to offer. Ford….”If you can’t be them join them”

  • avatar
    frontline

    Very few consumers would make their second largest purchase in life with a chapter 11 car company. That plan can’t work.

  • avatar
    DearS

    It sounds Sad and Interesting. I like the drama, and sorta do not. Its Pretty sad to be in such a painful crossroads for an employee. Still things happen for a reason. I’d feel my pain and look forward to good times in the future. Life is a journey, enjoy what we have while it lasts, that how things work. Work on worthwhile strategies to help it last longer or move in a better direction. Humans usually follow the path of least resistance, that does not work well forever. I have faith and compassion for myself though. Any hard work ahead will be worth the effort, I continue to move forward (no pun intended).

  • avatar
    mel23

    As bad off as GM, Ford and Chrysler are the suppliers are worse. They seem to have no control over their situation. Delphi is having trouble exiting bankruptcy and there’s a story today about one of its major investors shorting the bonds after getting confidential info from Delphi. Not encouraging.

    But GM spokesmen are in their usual form forecasting a recovery in the auto sector as early as June. From the WSJ: ‘During a conference call last week, GM Chief Sales Analyst Mike DiGiovanni said “we think there’s going to be a lot of stimulus in the economy in the second half of the year, and we’re banking on that.”‘

    Time to grab some GM stock.

  • avatar
    Lichtronamo

    KJC 117:

    Chrysler has been on this downward spiral for 30 years leaping from one near death experience to the next. Eaton pretty much saw the writing on the wall and sold out to Daimler before the next downturn. The Germans got stuck holding the ball and dumped the shop to Cerberus at what everyone assumed was the bottom and then the Sebring arrived.

    How much lower can they go???

  • avatar
    BKW

    You’re forgetting one very important point inre to FoMoCo…that huge multi-billion dollar loan they took out to get working capital and stave off bankruptcy. They put up the entire company assets to get that loan, and with Ford losing millions of dollars a week, offsetting any profits from off shore operations…where oh where will the money come from to pay off that loan?

    The money won’t come from Flex sales (I’ll be amazed if anyone buys one-it’s FUGLY to the MAX!).

    With pickup sales hitting the toilet, the 2009 F150 won’t be of much help, either.

    JMO: The loan will not be paid off…FoMoCo will go bankrupt, and some Asian company will pick up what’s left for a song.

  • avatar
    Kwanzaa

    Interesting times indeed!!

    To all those individuals who have been royally sodomized by the Big 3, you will soon be able to take your revenge:

    The market pressures which are now FORCING them to build competitive vehicles (I say that “tongue in cheek”…at least you can hopefully get 100K miles from one of their pieces of trash)….you will soon be able to buy one for a song!!!

    That’s right…the day is soon at hand where you will be able to buy a GM , Ford or a Chrysler product which is of semi-quality..for peanuts.

    Drive the POS till it drops and you will be ahead!

    …for just this ONCE :)

    …and it won’t do a DAMN THING to help their bottom line~!!!!

    Cheerio, Big 3!! HAHAHA

  • avatar
    Rday

    With all of the big 3’s problems, they forget how they got there. And it wasn’t by building good and reliable products for the American consumer. No, they are deserving of the hard times that they are in. And many of us ex-Detroit customers can sit back and say ‘we told them so many years ago’. Too bad that they were so impressed by themselves that they didn’t have time to listen to us. I wonder if they are even starting to listen today? Let’s hope that there will be at least one American manufacturer around a few years from now.

  • avatar
    Christopher

    I’m dismayed at the amount of cheerleading for the demise of the American Automobile Industry by the commentators on this post. Obviously you don’t live in the Metro Detroit area otherwise you’d be singing a different tune. It saddens me that some of you can be so callous. I realize that this is “just business” and they’re ultimately getting what they deserve, but do you have to cheer for it? You won’t see me shaking my pom-pom’s in your direction if your house is foreclosed on.

    I totally respect Robert and his writers because they’re not cheerleaders for the demise. Everything they talk about here is ultimately beneficial to Detroit. I think those of you who think Robert is cheerleading and what to join in are misunderstanding him.

  • avatar
    GS650G

    A lot of struggling companies pull this. take your vacation at this time with everyone else, if you don’t have an time left, you don’t get paid.

    The solution is to look for another job, something people today forget is always an option to them. Might not be easy or pretty but this is America and there are opportunities here.

  • avatar
    windswords

    All righty folks, look at the title: Wild Ass R U M O R of the day. This is normal for automakers to shutdown for summer vacation. By not having a plant half full of workers they save a TON of money on energy costs. They don’t have to run the lights or AC. Most times mandatory vacation is done on a plant by plant basis as they prepare for model changeovers. In this case it’s all the plants at the same time and the salaried workers. If they wanted to file BR they would just do it. When my company filed chp 11 they paid us early. They didn’t want to miss a payday because of filing. They didn’t wait till right after payday. They just did it as soon as they had the paperwork ready to go.

    kjc117 :
    March 13th, 2008 at 8:51 pm

    “Their ansewer to the new Tundra is a 1995 Ram. In fact, all of Chrysler’s line up is about 10 years behind the competition.”

    The 1st gen Ram came out 94 not 95. the now 2nd gen Ram came out in 2000 or 01. The 3rd gen Ram will be here this Fall (as an 09). As for the Tundra, well it was a nice try for ToMoCo but the THIRD time was not the charm for them yet.

    “As for Ford, I knew they would not go under. Ford unlike Chrysler has products that appeals to the general public.”

    I’d like to have what you’re smoking. Ford is losing market share at a faster rate than ChryCo. And they have EVERYTHING mortgaged. How they gonna pay that loan? I’ve said it before, they will be the first to go down. It’s simple, GM is too big to go down – and the “gubment” will probably help them. Chrysler is small enough to be sold in pieces or in whole to another company. Ford is stuck in the middle of no man’s land. They are too big for someone else to buy and not big enough to get a lot help from congress.

    Lichtronamo :
    March 13th, 2008 at 11:08 pm
    “…Eaton pretty much saw the writing on the wall and sold out to Daimler before the next downturn.”

    Chrysler was the most profitable auto company in the 90’s. Eaton sold them out for almost $100 million in personal profit. Eaton should never have been running a lemonade stand let alone a company.

    “The Germans got stuck holding the ball…”

    The Germans got stuck with $10 billion in cash from Chrylser and after they got that they dumped them. If Chrysler had not been sold down the river, that money would have paid all the losses up till the time Daimler gave them up for dead AND funded new vehicle development. And without Daimler cheaponing everthing, you wouldn’t have the Sebring, etc.

    Christopher :
    March 14th, 2008 at 8:55 am

    “I’m dismayed at the amount of cheerleading for the demise of the American Automobile Industry by the commentators on this post…
    I realize that this is “just business” and they’re ultimately getting what they deserve, but do you have to cheer for it? You won’t see me shaking my pom-pom’s in your direction if your house is foreclosed on.”

    Well put, Chris.

  • avatar
    geeber

    Windswords: Chrysler is propping up its market share with fleet sales to rental car companies. The last figure I saw had over 70 percent of Dodge Avengers going to fleet customers!

    Ford has made more progress in reducing these sales. So I don’t put much stock in the idea that Chrysler is better positioned than Ford for survival because it losing sales or market share at a lower rate.

    Dumping cars, minivans and SUVs on to Avis, Hertz and Alamo to artificially prop up market share hardly constitutes a sign of sales strength.

    (As an aside, my wife and I visited Disneyworld in Florida this January. It seemed as though Chrysler had about 35 percent of the market – until I realized that those were all rental vehicles. We had a Chrysler PT Cruiser.)

  • avatar
    windswords

    geeber, your making an assumption that everyone one of those fleet sales is at a loss. I can assure you it is not. We all know what the problem is from fleet sales. But losing money on the deal is not one of them. Hyundai is also happy to pick up those feet sales from GM and Ford. So if Ford is losing out on (slim) profits by foregoing fleet sales then that’s just another nail in thier coffin.

  • avatar

    Its very simple Christopher, those of you who live in Detroit or who work for the former big three are use to seeing things from your perspective. To you the world revolves around you, your city, your employers GM, Ford Chrysler etc.

    Now consider the fact that your customers and to be more precise your former customers are simply not obligated in any way shape or form to see things from your perspective. A car is major purchase. When customers make that kind of purchase and consistently and repeatedly feel they have been ripped off by a sub par product or that they made the wrong choice by choosing a certain brand, the result is simple. Most people afterward feel like they have been treated like shit.

    The fact is that Rday is correct. The Detroit 3 companies are where they are because frankly they deserve to be. Just as the Detroit 3 held their customers in contempt with their screw em there’s plenty of fish in the sea mentality, so too do your former customers hold the Detroit 3 companies in similar contempt. Don’t ever forget the people posting here are not just some jerks posting about GM, Ford or Chrysler, but the vast majority are your former customers. We actually put down our hard earned coin on your products and were rewarded with sub par products. How much sympathy did we get from those companies or their employees for our troubles? If you have ever felt that you were treated like shit by someone then you are simply not going to have any sympathy, and yes many will see it as well deserved if the former big companies with the arrogant “screw em” attitude suffer.

  • avatar
    techrancher

    I pick up my first Jeep tomorrow, a 2008 Wrangler w/ “Lifetime Powertrain Warranty”. Even if Chrysler is sold, won’t the new folks be on the hook for the warranty? Forgive my naivety, I’ve been an avid reader for some time and this is my first post. We bought an 07 Expedition Eddie Bauer and for what we got we couldn’t get into a comprabably equipped Toyota for less than $12,000 more money.

    J.H.

  • avatar
    toxicroach

    The 2 week layoff thing is standard for factory employees. Usual practice keeps the white collar guys around.

    Chrysler is putting damn near everyone on forced vacation this year. Which is why this is remarkable.

    Reminds me of how a company I used to work just went out of business Friday evening and didn’t bother to tell any of the employees; they had to figure it out when nobody opened the door on Monday.

  • avatar
    d996

    windswords- Way to go, there is too much negativity towards Detroit. People get too emotional about autos and let their personal experiences color facts. I am no fan of Detroit execs but their task sometimes is almost impossible. Auto production fuels tremendous growth and unlike the US, govts acros the globe support their own domestic industry.

  • avatar
    Christopher

    Sherman – I understand your frustration. The point I am trying to make and I certainly think that Robert understands this and is thusly so passionate about spreading the word is that Detroit is more than just an industry. Just like your point that a car is more than just a purchase. Detroit/South Eastern Michigan is an entire region our country. It is an entire population of folks whose livelihood depends on the continued existence the automotive companies.

    I certainly am capable of seeing things from the outside perspective. I’m young and have only been in the industry a comparatively short period of time. However, my family is here. My roots are here. My life is here. I don’t want to leave. The grand majority of us don’t want to leave. A lot of people here are fighting to keep things going.

    Say what you want and feel what you want, but it hurts to see people cheering for you to lose.

  • avatar
    geeber

    windswords: geeber, your making an assumption that everyone one of those fleet sales is at a loss. I can assure you it is not. We all know what the problem is from fleet sales. But losing money on the deal is not one of them. Hyundai is also happy to pick up those feet sales from GM and Ford. So if Ford is losing out on (slim) profits by foregoing fleet sales then that’s just another nail in thier coffin.

    Ford is cutting fleet sales to rental car companies. It is maintaining fleet sales to government and corporate customers, which are also profitable, and don’t ruin brand image and resale values.

    Taxi cab companies and municipal police departments aren’t dumping used Crown Victorias on the market after 1-2 years. Same with F-series trucks sold to utilities and contractors.

    There may be a slight hit to Ford’s bottom line because of lower sales to rental car companies, but over the long haul, resale values and brand reputation will improve. (And doesn’t the fact that Chrysler has to dump well over half of Sebring and Avenger production into rental fleets tell you how little appeal these cars hold for retail buyers?)

    This is EXACTLY the sort of long-term thinking that has been sorely absent from Detroit for far too long. I say give credit where credit is due.

    I’m not happy when any company declares bankruptcy, although I do think that some individual brands will be jettisoned before the market recovers (Pontiac and Mercury, for example). But I just can’t accept that Chrysler has a better chance for survival than Ford…to me, Chrysler is the one most likely to go under. Its best hope is to be bought by another company that wants easy entry into the U.S. market (Peugeot-Citroen, or a Chinese company).

  • avatar

    Let me be clear about this… 1. The implosion of The Big 2.8 by their own hand is the single largest automotive story of our time. The Truth About Cars provides regular (if not incessant) coverage on this topic because we recognize the central role these companies play in our national, indeed global life. 2. We recognize and regret the impact of this sad tale on the people who are blameless in its unfolding. This includes literally millions of people; from factory workers, to suppliers, to ad people, to dealers, and many, many more. 3. At the same time, we recognize and understand that this decline has left millions of dissatisfied customers in its wake. People who have a legitimate beef with The Big 2.8, and suffer from anger, frustration and resentment towards the companies that abused their trust and squandered their hard-earned money. 4. TTAC will allow these people to vent their frustration in the comments section. BUT we will not allow “gloating.” Obviously, that’s an extremely subjective term. Frank Williams and I will interpret it as we see fit, trying to maintain sensitivity towards the victims of corporate arrogance, ignorance and stupidity mentioned above. 5. If you feel that a comment is offensive, as always, I ask that you send me an email ([email protected]). Copy and paste the post’s link and the comment and I will investigate, warn, delete and ban (if necessary); and respond to your email. Please do NOT engage in direct confrontation with people who you consider out of line. Thank you for your understanding in this matter. Our coverage continues.

  • avatar
    menno

    Christopher, Sherman said it right. Sorry, but even though I live in an auto producing state in the rust belt, Detroit has done this to themselves through the biggest 3 biggest cardinal sins of any business, by not following the 3 biggest rules needed to succeed.

    1. Put the customer’s needs first.

    2. Making the best product you can and improving it non-stop.

    3. Having decent customer service after the sale(i.e. warrantee work)

    1. Convincing the American public through the “usual” B-S marketing junque, that SUVs (built on the cheap, based on utility trucks, and making $10,000 profit per) were the “safest” and best family vehicles to haul around mom & 1.5 kids was an absurdity which will be studied for centuries in college, and probably will continue to make the once great American culture a laughing stock for that long or longer.

    2. Toyota, Honda, Hyundai, Subaru.

    3. Ask any ex-Detroit auto maker customer now moved on (see #2 above) the reasons they won’t look back. You’d better wear a flak jacket. But I can guarantee that you’ll hear answers like “they wouldn’t fix the D*#@ thing!” From me, you’ll hear “they handed me a bill on a warrantee repair before the warrantee was over and insisted it was not covered. I gave them a choice – future customer, or the money. They chose the money.” It wasn’t the money, which was under $100, it was the principal.

    Also, my friend, you must look at the aspect that some people call “karma” or “kizmet”.

    Detroit “Inc” certainly didn’t cry when they ground worthy competitors into dust, such as several hundred companies before 1921, or Reo, Case, Hupmobile, Graham, Crosley, Kaiser, Studebaker, Packard, Pierce-Arrow, Franklin, Marmon, TUCKER.

    Detroit “Inc” also doesn’t care how it grinds its own (lifeblood) suppliers into the dust.

    What goes around comes around.

  • avatar
    Christopher

    I certainly realize that, the larger point I am trying to imply is that if and when the chips start falling no one will be safe (Not that they’re not already tumbling a bit, but I mean crash-bang-boom!)

    If Detroit goes down, all of us in this country go down. How far down? We’ll see.

  • avatar
    geeber

    menno: 1. Convincing the American public through the “usual” B-S marketing junque, that SUVs (built on the cheap, based on utility trucks, and making $10,000 profit per) were the “safest” and best family vehicles to haul around mom & 1.5 kids was an absurdity which will be studied for centuries in college, and probably will continue to make the once great American culture a laughing stock for that long or longer.

    Sorry, I can’t buy that. Detroit stumbled on to the SUV market by accident.

    Jeep discovered it with the downsized 1984 Jeep Cherokee, but it still took Ford seven years to stretch the Bronco II into the Explorer.

    The Explorer was a huge success, which encouraged everyone – including Honda and Toyota – to jump into the fray, although one problem GM had was that it was too SLOW in joining the mid-sized and small SUV parade. Customers drove the growth of that segment – if anything, Detroit was slow to pick up on where the market was heading.

    And Americans using very large vehicles to haul around one or two people is nothing new, and did not start with the SUV boom. In the 1960s, they did it with vehicles named Chevrolet Impala, Pontiac Bonneville, Ford Galaxie and Plymouth Fury.

    Three decades later, only the names of the vehicles – and their ride height – had changed…along with the fact that the foreign automakers were doing it, too (unlike the 1960s).

  • avatar
    menno

    Yes, geeber, we did drive huge cars in the 1960s and 1970s, and these morphed into SUVs.

    Then November 1973 hit, and suddenly the world turned upside down. But, we forgot, and went back to our old ways.

    So 1979 was another helpful reminder. But once again, we Americans forgot. And went back to our old ways.

    Then 1990 hit. We moved to small or more efficient vehicles a little bit this time, but not as much as 1973 or 1979. And once again, we forgot.

    So I’m certainly not only blaming Detroit Inc for our current situation. Plenty of blame to go around.

    But then again, how much of this “forgetting” over these three crises was helped by marketing of larger high profit vehicles by Detroit Inc?

    Be honest. You know it was some factor in it. After all, Detroit Inc NEVER has learned how to build small cars and sell them for a profit. For that matter, have they ever learned how to build a decent small car?

    Corvair? Falcon? Pinto? Vega? Chevette? Gremlin? GM X-cars like Citation?

    How about Saturn? Hasn’t made a penny for GM in its entire existance.

    I’d say, case closed.

  • avatar
    windswords

    d996, Credit should go to Christopher too.

    Geeber,

    Of course when I said fleet sales as you did I was talking specifically about rentals. Chrysler also has plenty of fleet sales to cabs, police departments, etc. (just saw a T&C taxi the other day).

    As for the Avenger and Sebring, since they are not (deservedly so) going to get a lot of retail sales it makes sense to sell them to rentals. Everyone says “well just develope another one!” yea, if was only that easy. The cost is around 2 billion over 4 years. Before Daimler got their claws in them, they copuld develope an all new car in 39 – 42 months. and I mean all-new car. Not what Toyondassan does – put new sheet metal and interior and keep the basic platform intact and call all new. don’t believe me? Put two gens together of a Camcordima and pop the hood. The giveaway is the shock towers, among other things. Now of course they eventually come out with something all new. The new Accord and current gen Camry are definatley all new. But notice they are that well recieived? It’s risky to change EVERYTHING every 4 years. So the Japanese are very conservative. Now back to what i was saying, before Daimler they could come out with something quicker than almost anyone else, now there back to where they were in the 80’s/early 90’s. It will take 5 years to replace the Avenger/Sebring. Sad.

  • avatar
    geeber

    menno,

    You are talking about two different things.

    When you say that Detroit never really made a profit on smaller cars, and therefore the domestic companies never had their heart in addressing that market segment – I agree with you.

    But that is very different from saying that Detroit manipulated people into buying SUVs that they didn’t really want. That is what I can’t accept. Detroit just isn’t that smart…

    I was a kid in the 1970s, and I remember my parents distinctly refusing to trade their 1967 Oldsmobile Delmont 88 hardtop sedan on anything smaller than a 1976 Delta 88 Royale hardtop sedan. They just didn’t want a smaller car, gas crisis or no gas crisis. They weren’t even interested in a Cutlass Supreme. They didn’t like the way it looked or drove. They didn’t downsize until GM forced the issue by downsizing the full-size Oldsmobiles (and its other full-size cars).

    Probably the best entry from Detroit in the small car sweepstakes was the Ford Escort, which, by the late 1990s, had a very good reputation (Ford was smart enough to use Mazda platforms and expertise for the second-generation Escort). Ford then replaced it with the Focus, which was marred by quality glitches, although the basic car was quite good. By the time that Ford figured out how to put the Focus together properly, the car’s reputation was seriously damaged and the bloom was off the rose.

    But the 1990s Escort was a very good small car, and once Ford had fixed the Focus’s quality glitches, it was, too…until Ford let it become stale.

    windswords: From what I’ve read, Ford leads in the domestics in sales to corporate and government customers, and is far ahead of Chrysler in this regard. If I recall correctly, Ford has the lowest percentage of sales to rental car companies among the domestics, when those sales are broken out as a percentage of total fleet sales.

    I realize how hard it is for Chrysler to design a completely new car…but do they really have even 2-3 years to take the Toyota/Honda route and come up with a heavily revamped Sebring/Avenger? Today’s market is brutal, and it’s only going to get worse in the coming years.

  • avatar
    toxicroach

    Why do people actually believe that the big 3 are the beating heart of the countries economy?

    Maybe that was true once upon a time. But GM and co. have been shedding weight for ages. And most of the “foreign cars” are built in the States or Canada, so its not really like the US is losing manufacturing capacity or automotive jobs.

    The only people at risk here are UAW workers. Not America.

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