Cerberus could sell Jeep to Renault
The latest rumors regarding Cerberus-owned Chrysler and its possible sale point to the breakup of Chrysler's assets, and in particular its brands. General Motors may be interested in bits and pieces of its cross-town rival, but perhaps not the entire automaker. Jeep is considered Chrysler's most valuable asset and was purchased by the automaker from Renault in the '80s, around the same time that AMC ceased to exist. A similar scenario may put Jeep back in the hands of Renault. This purchase could allow the French automaker an easier entry back into the U.S. market with dealerships and excess production capacity leftover from Chrysler. General Motors main interests are rumored to be the minivan line along with some production sites, including the plant in Mexico that assembles Dodge Ram trucks. In exchange for the pieces of Chrysler that GM is interested in, the automaker could fork over its remaining 49-percent stake in GMAC to Cerberus. It's clear that all companies involved are still in negotiations, and it's completely possible that nothing changes hands at all. Round 'n round we go...
[Source: Reuters]
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Reader Comments (Page 1 of 2)
gforce 7:19PM (10/17/2008)
Uh, Renault has already completely denied this.
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geo.stewart 7:41PM (10/17/2008)
so, this is what, the 3rd post today about the same set of rumors? this is bordering on mustang-level fetish 8^>
Duncan 7:47PM (10/17/2008)
Which means...what, exactly?
It might be true, or it might not. Blogs are custom-built for speculation and wild assertions - welcome!
Justin 7:21PM (10/17/2008)
Awww....HELL no
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Torrent 7:25PM (10/17/2008)
HELL TO THE NAW
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aaron 7:30PM (10/17/2008)
Jeep to the French? HELL F@#%*!# NO!
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Duncan 7:45PM (10/17/2008)
Way to overreact. Was one of your fists clenched when you typed that?
As long as Jeeps are still built in America and the brand survives, I could give two tenths of a crap who owns the rights. Too bad that the story makes no mention of Chrysler or Dodge, other than to imply that their real estate might be used for future Renault outlets.
Of course, we should recall how well Renault's last go-round in the American market went - Fuego, anyone? Or perhaps you'd be happier with "Le Car" instead.
I'm just sad to see the once-mighty Mopar juggernaut reduced to little more than a bargaining chip among dueling gamblers.
Snark 11:46PM (10/17/2008)
Clearly, this one is unaware that the Jeep Cherokee and other jeeps of the early 80's were designed with strong input and assistance from Renault...when the French owned AMC, of which Jeep was a part at the time.
Hamud 7:38PM (10/17/2008)
Please, tell me it isn't true.
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A&W 7:43PM (10/17/2008)
If they are going to sell the company brand by brand and line by line, then wouldn't Nissan be the most likely to buy the truck line since they already have a deal to share the platform?
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knifetramp 7:12AM (10/18/2008)
That makes a great deal of sense... certainly more sense than GM wanting the RAM pickups.
I am praying that GM can stay in existence and avoid acting as executioner on Cerberus' behalf. Please Daimler - do not sell your 19.9%.
Say What? 7:47PM (10/17/2008)
How ironic. Chrysler bought Jeep from Renault a generation ago, and now Renault may be in the mix to buy it back.
In this case the old saying is true, "Life is a circle. What goes around comes around."
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lithdoc 7:49PM (10/17/2008)
No matter what your feelings are towards Chrysler, it is a great shame to see a great American icon being shred to pieces like this...
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J. D. Billiford 7:55PM (10/17/2008)
>>> Sadly, I couldn't agree with you more.
Matt 4:10AM (10/18/2008)
Having owned Chryslers, I couldn't agree with you less.
Also having owned Nissans -- Renault's partner -- I don't think this would be much of an improvement. I say let GM take Chrysler behind the shed, and put it out of its misery. The question is, does Wagoner have the balls to do it?
knifetramp 7:18AM (10/18/2008)
Matt, I think the question is "does Wagoner have the money to do this". I'm betting the answer is "no", so it will be very difficult for GM to cut Chrysler dealers and Chrysler products. All this takes $$ that GM clearly does not have.
LK 7:58PM (10/17/2008)
What wrong with Reanult buying Jeep if they owned it in the first place?
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fixitfixitstop 8:20PM (10/17/2008)
Renault didn't own Jeep in the first place. Renault bought what was left of AMC and sold it to Chrysler. In the late 70's, a lot of AMC dealers were also Renault dealers (at least in NJ). I used to go there as a kid and drool at the Fuego (which should have been a sign to my parents that I needed therapy).
BoxerFanatic 8:29PM (10/17/2008)
If Jeep goes to Nissan/Renault, which I don't think is a fantastic idea, I see a magical reversal of fortune for GM's Hummer, as people change up to the remaining american off-road brand. I didn't like the prospect of Hummer going to a foreign brand, either.
Other than that, this does not look good from any angle.
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Duncan 8:36PM (10/17/2008)
Nah, I disagree. Hummer started out as a trendy brand (just ask the Governator) and hasn't really shed that image. Yes, the vehicles are capable, but the associated "Hummer mystique" seems to wearing a little thin these days.
And for all the hand-wringing about foreign ownership, it seems to me that Jeeps sold just as well under the DCX combine as they ever did under AMC-Renault (the first time) or Chrysler. If a vehicle offers what people want and is priced right, it will sell no matter whose name is on the tin.