US auto sales for August

The nation's top automakers reported disappointing sales Wednesday, resulting in the worst August for industry wide auto sales in 27 years, according to some math made by CNNMoney.com While Cash for Clunkers skewed the year-over-year comparison, Jesse Toprak, vice president of industry trends for TrueCar.com, raised ...
Ford Interceptor Police Utility vehicle

Ford today revealed its newest pursuit-rated vehicle - Ford's first-ever specially designed Police Interceptor utility built for the rigors of police work. • Ford's new Police Interceptor utility is designed to complement the sedan introduced earlier this year and give law enforcement agencies a comprehensive choice for ...
Stig fired by BBC !

BBC dumped Ben Collins after being unmasked as Top Gear’s The Stig according to the Mirror newspaper. This comes after tensions mounted over Collin’s autobiography which, if published, would reveal his identity as The Stig. Collins’ autobiography is set to come out in September this year. Details ...
The New Citroen DS4

Just minutes ago, French automaker Citroen unveiled the new DS4 hatch – a car that keeps the DS High Rider concept seen at Geneva this year. From the first pictures let me tell you that, at least, the front of the car, looks in some way ...
2012 Volkswagen Touareg R?

According to recent rumors that appeared in the French media, after Scirocco and Golf, the 2011 Touareg may have its own R version. The propulsion system will be an electric V8 hybrid that will produce around 550 HP! The difference between the electric unit found on ...

GM will not buy Chrysler

November 7, 2008

Filed Under: Industry, News, Sticky news

General Motors via CEO Rick Wagoner, announced minutes ago that they will not buy Chrysler from Cerberus Capital Management LP.
“We have recently explored the possibility of such an acquisition based on the analysis that it would strengthen our industry position in the long term,” Wagoner said.
“We’ve concluded at this particular time that we are better off to put 100 percent of our efforts on the liquidity side. We’ve set aside such (acquisition) actions as a near term priority.”

For the moment there is no Chrysler official announcement, but inside sources have said that they would continue to work on returning Chrysler to profitability.

“As an independent company we will continue to explore multiple strategic alliances or partnerships as we investigate growth opportunities around the world that would aid our return to profitability.”

Sphere: Related Content

Visited 567 times, 1 so far today