GM in talks to buy Chrysler

[SiggyZ]

Report: GM in talks to buy Chrysler
Trade publication cites sources in Germany, U.S.

MSNBC News Services
Updated: 6:26 p.m. CT Feb 16, 2007

DETROIT - General Motors Corp. is in talks to buy the Chrysler Group in its entirety, Automotive News reported Friday, citing unnamed sources in Germany and the United States.

The automotive trade publication reported on its Web site that high-level talks were talking place between GM and Chrysler Group parent DaimlerChrysler AG.

The potential deal between the two automakers could go beyond cooperation on joint development of a large sport utility vehicle, the magazine said.

A General Motors Corp. spokesman said the company routinely has discussions with other automakers but declined to comment on the Automotive News report.

"We often have discussions with automakers routinely. We don't comment on speculation regarding discussions," GM spokesman Tony Cervone said.

Meanwhile, various newspapers reported earlier Friday that Chrysler and GM have held discussions for about six months about a possible alliance related to large sport utility vehicles.

The Wall Street Journal, citing people familiar with the matter that it didn’t name, said the automakers had preliminary discussions to jointly develop a large SUV such as the Chevrolet Suburban, which Chrysler doesn’t have in its lineup.

The New York Times, citing people with direct knowledge of the talks that it didn’t name, said the companies are holding discussions about a project that would provide Chrysler with a version of the Chevrolet Tahoe large SUV.

GM and Chrysler also are looking at sharing small cars developed by GM Daewoo Auto & Technology, a unit of GM in South Korea that builds the Chevrolet Aveo compact car for GM, the Journal reported.

The automakers declined to comment on reports of these talks.

Chrysler already has alliances with GM, including one to develop gasoline-electric hybrid engine technology.

Last year, GM was in talks with Nissan Motor Co. and Renault SA on creating an automaking alliance, but those were called off in October. Those talks have nothing to do with the Chrysler talks, the Times reported.

DaimlerChrysler said Wednesday in announcing Chrysler’s restructuring that it was exploring all options for Chrysler, including strategic partners. DaimlerChrysler Chairman Dieter Zetsche would not rule out selling the troubled U.S. operation.

On Thursday, Chrysler Chief Executive Tom LaSorda told the Journal in an interview that he hopes uncertainty about whether Chrysler will remain part of the German automaker is resolved “sooner rather than later.”

As part of the restructuring, Chrysler plans to eliminate 13,000 positions, including 11,000 production jobs and 2,000 white-collar posts, as it seeks to cut costs and return to profitability in 2008.

The Associated Press and Reuters contributed to this report.

http://www.msnbc.msn.com/id/17186447/

What could this mean for Ford?

[FORD RECOVERY EXPERT]

can we imagine if they owned the vette and the viper??? all hell would break loose!!!

[z28punk]

it would only be chrysler...not dodge

[SiggyZ]

Chrysler no longer owns Dodge?

http://www.dodge.com

Take notice of the very bottom of the page.

it would only be chrysler...not dodge

[z28punk]

chrysler doesnt own anyone. its an automotive group like GM owns caddy, hummer, saab, chevy...ect.

DaimlerChrysler is the name of the group.

so they would be selling ONLY chrysler. idk what they would do about the name of the group tho.

[SiggyZ]

I realize that. Sorry I misworded it by saying owns.

"DETROIT - General Motors Corp. is in talks to buy the Chrysler Group in its entirety, Automotive News reported Friday, citing unnamed sources in Germany and the United States."

In it's entirety means everything associated with that automotive group (which includes Dodge).

If the deal is finalized, it looks like that would mean that the production makes of Chrysler, Dodge, Jeep and Mopar parts would be owned by General Motors.

[my5thNewUsernameHere]

I realize that. Sorry I misworded it by saying owns.

"DETROIT - General Motors Corp. is in talks to buy the Chrysler Group in its entirety, Automotive News reported Friday, citing unnamed sources in Germany and the United States."

In it's entirety means everything associated with that automotive group (which includes Dodge).

If the deal is finalized, it looks like that would mean that the production makes of Chrysler, Dodge, Jeep and Mopar parts would be owned by General Motors.

In a nutshell, I think that this means GM would be taking everything but the Daimler. I could be wrong, but I believe that only Mercedes Benz is covered by the Daimler name.

[SiggyZ]

Correct, Mercedes (owned by the Daimler division) would split from Chrysler as indicated by the comment below.

"DaimlerChrysler said Wednesday in announcing Chrysler’s restructuring that it was exploring all options for Chrysler, including strategic partners. DaimlerChrysler Chairman Dieter Zetsche (Dr. Z) would not rule out selling the troubled U.S. operation."

In a nutshell, I think that this means GM would be taking everything but the Daimler. I could be wrong, but I believe that only Mercedes Benz is covered by the Daimler name.

[z28punk]

well then that would be sweet if gm owned everything. it would be wierd but really cool.
camaro challenger, and GTO all in the same group
corvette and viper (they use the same transmission already)
the viper could use a weight reduction to make it faster anyways.

[my5thNewUsernameHere]

well then that would be sweet if gm owned everything. it would be wierd but really cool.

With Ford's recent performance, maybe they're next in line.

[ss~zoso~ss]

this will never happen, like making a camaro GT

[ss~zoso~ss]

or an SS Corvette, wait .... they better not

[ibanez7]

this news has been floating around for awhile, along with the chevy meets ford.

[SiggyZ]

Don't be too sure. Toyota is putting a hurting on both GM, Chrysler and Ford to date. It would not surprise me if they become the next dominant (and largest) auto maker in the world.

this will never happen, like making a camaro GT

[SiggyZ]

Where there's smoke, there's fire. Sometimes smoke that sticks around for a while means something is in the oven and is a cookin'.

this news has been floating around for awhile, along with the chevy meets ford.

[my5thNewUsernameHere]

If not for antitrust laws, I think everything under the sun would eventually be owned by Walmart or ExxonMobil.

[ss~zoso~ss]

idk, i guess it'd be neat to have the 3 major American car manufactuers as one group, but i just kills a lot of tradition

[SiggyZ]

I think, right now, for all three of them, survival is more important than tradition.

idk, i guess it'd be neat to have the 3 major American car manufactuers as one group, but i just kills a lot of tradition

[ss~zoso~ss]

^true

[ss~zoso~ss]

Chrystlergmford