A U.S. Supreme Court judge has delayed the sale of Chrysler to a new Fiat-run company. The move by Justice Ruth Bader Ginsburg came just before a 4 p.m. deadline set by a New York appeals court would have seen the sale completed. The statement by Justice Ginsburg was just one sentence and gave no...
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Those 789 Chrysler, Dodge and Jeep dealers that were cut loose by Chrysler as a part of its bankruptcy and restructuring plan have until June 9th (next Tuesday) to part with their remaining inventory. Because of the dealership contract that they signed, dealers aren’t allowed to sell off the cars once the contract expires. And...
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According to the latest bankruptcy court filings by Chrysler, the company plans to cut 789 dealerships (one quarter of the current dealer network) in an effort to emerge as a financially viable company. The company sent out overnight letters to the dealerships that will be eliminated. As expected in bankruptcy, Chrysler will not buy-back the...
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Resale values on Chrysler products like this Dodge Challenger SRT8 went up in smoke after the company filed for bankruptcy. According to Automotive Leasing Guide, the resale value of a Chrysler vehicle dropped six percent in the week following the company’s Chapter 11 bankruptcy filing. In just seven days the uncertainty about Chrysler’s future crept...
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From start to finish, Chrysler’s bankruptcy proceedings could take as long as two years, according to a Bloomberg report. The article cites an administration official, and says that the initial period of 30 to 60 days for the “quick and surgical” process only refers to the period required to sell the major assets to a...
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The Fiat Panda is just one of several cars that will be sold in the U.S. under the Chrysler/Fiat alliance. It will most likely be badged as a Jeep. There has been plenty of speculation as to which Fiat vehicles will make it on to North American roads as a result of the merger with...
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Our team over at GMInsideNews is reporting that the judge overseeing the Chrysler bankruptcy proceedings has thrown out the arguments made by the hold-out bondholders. By removing the only objection to the process, the bankruptcy proceedings can now be fast-tracked and the Fiat merger can go ahead. During President Obama’s press conference last week, when...
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Before Chrysler filed for Chapter 11 late last week the automaker explored every option, including selling the company to the Chinese and forging partnerships with any other manufacturer that expressed even a remote amount of interest. In public bankruptcy filings, made at the U.S. Bankruptcy Court in New York, Chrysler’s co-president and vice-Chairman Tom LaSorda...
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Starting Monday, Chrysler will idle most of its plants as the company restructures under a Chapter 11 bankruptcy filing. This will include 8 U.S. assembly plants, as well as facilities in Canada and Mexico. Other pre-assembly facilities will also face temporary closure including five North American engine plants, six stamping plants and seven transmission plants....
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At a mid-day press conference President Barak Obama made the official announcement that Chrysler will in fact file for Chapter 11 bankruptcy protection. Included in the announcement was the news that Chrysler has also reached an agreement with Fiat. “I can report that the necessary steps have been taken to give one of America’s most...
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President Obama is expected to announce tomorrow that Chrysler will in fact file for bankruptcy; according to a report by Bloomberg. The Wall Street Journal, however, says that Obama currently has two speeches drafted for tomorrow’s press conference: one if the struggling automaker files for Chapter 11, and one if it doesn’t. The Chapter 11...
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Less than a day after the UAW, Chrysler and Fiat agreed upon the terms of a contract that would keep the struggling U.S. automaker afloat, details of the agreement have surfaced in which the union will take a controlling share in Chrysler. At first it seemed almost too good to be true that all...
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The Canadian Auto Workers union, after burning the letter written by Chrysler CEO Bob Nardelli and joint-president Tom Lasorda, has now responded with its own statement. CAW president Ken Lewenza denies that a $19 labor gap exists between Canadian and U.S. workers and refuses to re-negotiate a contract that has already been re-neogotiated. Lewenza calls the...
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Fiat is about ready to walk away from a potential partnership with Chrysler says CEO Sergio Marchionne unless the U.S. automaker can significantly cut labor costs. While the United Auto Workers union has made it known that it is willing to work with Fiat and Chrysler management, the Canadian Auto Workers union isn’t. “From what...
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Jeep chose the New York Auto Show to unveil the all-new 2011 Grand Cherokee, the latest version of the what Jeep calls, “the original premium SUV.” With a pleasant and masculine exterior, the real big difference is inside where the cabin gets a significant update. In fact, the leather on the model shown at the...
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*** UPDATE *** Moments after Chrysler released an announcement that a partnership with Fiat was a done-deal, the American auto manufacturer released another statement with slightly revised wording stating that it had just a “framework” of a deal in place. *** UPDATE *** Hours after President Barak Obama gave Chrysler a deadline of 30 days...
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Just ahead of the Obama Administration’s press conference today, some of the most important details are already out. General Motors is to be given 60 more days to complete its restructuring plan, while Chrysler is being given just 30 days to finalize a partnership with Fiat. This news comes as both fumbling U.S. automakers are...
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To help boost sales Jeep has just launched the new Rocky Mountain Edition versions of the Patriot, Liberty and Grand Cherokee. This new trim level delivers $2,300 in options for an add-on price of just $1,595 over the base MSRP. The Jeep Patriot Rocky Mountain Edition gets 17-inch wheels, a sunroof, a leather steering wheel...
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UPDATE: Since posting this article Chrysler has announced that the three vehicles slated for elimination are the Chrysler PT Cruiser, Chrysler Aspen and Dodge Durango – all three of which the company had already announced were doomed. Feel free to read our exercise in creative writing/wishful thinking anyway. ————————————————————————————————————————— When Chrysler announced yesterday in its...
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Jeep used the Paris Motor Show to display two concept versions of its popular compact SUVs, the Patriot and Compass. The Jeep Patriot Back Country is a rugged vehicle designed for a more active lifestyle. Looking familiar from the outside, the inside receives a significant update with earthy colors and textures. The SUV also features...
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Welcome to the AutoGuide.com News Blog, your comprehensive source for breaking automotive news. Our staff of writers and contributors will keep you updated on all aspects of the auto industry, from vehicle unveilings, to concept cars, to news from auto shows, the aftermarket and the world of motorsports. The AutoGuide.com News Blog complements...
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