After just more than nine years of ownership German automaker Daimler sells off Chrysler to Cerberus Capital Management at a loss of $650 million on this day in 2007. The deal is actually etched so that CCM purchases the brand for $7.4 billion, but due to the ongoing loss suffered by Daimler since acquiring the Chrysler brand they never turned a profit on the transaction. Chrysler Corporation included Jeep and Dodge at the time of sale(formerly included Plymouth and currently includes RAM). The transaction left Chrysler as an independent automaker. However on Jan 21, 2014 Fiat purchased Chrysler in a deal worth about $3.65 billion.
Pictured is a 2007 Chrysler 300.
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