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.
Prince Skyline. By I, 天然ガス, CC BY-SA 3.0 When it comes to JDM cars, one…
1947 Packard Super Custom (Not the actual 1,000,000th Packard. By Rex Gray- fvr2, CC BY…
Since its inception, the Mercedes-Benz SLK-Class (R170) has epitomized the essence of a compact luxury…
The C4 Chevrolet Corvette, which debuted nationally on this day in 1983, marked a significant…
By Alexander-93 - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=132180377 On April 16, 2014, the vibrant…
On this day in 1964, two days before the official Ford Mustang on-sale date, one…