Documents reveal Chrysler tried to sell parts to Chinese, tie-up with almost every automaker
According to an affidavit filed in the New York U.S. Bankruptcy Court where Chrysler filed for Chapter 11, the automaker's Co-President and Vice Chairman Tom LaSorda is quoted as saying "Chrysler has attempted in recent weeks to sell product lines and other units to a number of Chinese companies, but these efforts ... have been unsuccessful." The now bankrupt automaker offered the Chinese firms – including the Beijing Automotive Industry Holding Co. and Chery – engines, transmissions, vehicle lines, intellectual property rights, distribution channels and its brands during a five-day summit in February. But nothing came to fruition.
Even more interesting/disturbing is the revelation that for the last two years, Chrysler has attempted to forge an alliance with nearly every automaker on the planet, including GAZ, Honda, Hyundai, Magna, Nissan and Tata, along with General Motors and even Toyota.
The document reveals:
- Chrysler and GM were in discussions in June and August of 2008, then later in November, with a last-ditch attempt in January which died shortly thereafter.
- A plan was proposed to Toyota, in which Chrysler would provide the Japanese automaker with its excess capacity or work with Toyota to develop new products, including (laughably) hybrids.
- Talks with Nissan failed in July, started again in September, then again in January and were eventually shot down.
- And finally, Honda received a proposal from Chrysler – then promptly rejected it the next day.
[Source: Detroit News | Image Source: Stan Honda/Getty]
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Reader Comments (Page 1 of 3)
jinsei888 7:37PM (5/01/2009)
lol, that's just sad...
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airswingman 11:07PM (5/01/2009)
not wronged at all Chrysler,serve *** right
keep belive in those marketing and financial games, and don;t forget to wearing suit with the crocodile tears when you move out
Randy 12:27AM (5/02/2009)
@airswingman
....................................... what?
Tool 6:49PM (5/02/2009)
If this doesn't prove that Chrysler should have been liquidated I don't know what does.
The U.S. Taxpayers are pumping $12 billion into this dead company. That money should have been spent to retrain and relocate the workers.
Anyone who thinks that the Fiat alliance is going to save Chrysler is fooling themselves. They have some neat cars, but their quality is even worse than Chrysler (according to J.D. Power U.K.) and it's not clear that these Fiat vehicles would even appeal to U.S. consumers.
Temple 3:05AM (5/03/2009)
Kinda sad for FIAT too...
It's like the slutty ugly chick that couldn't get a date, except with the desperate Italian gigolo with financial troubles.
pollen sniffer 7:45PM (5/01/2009)
beggars can't be choosers.
LOL at Honda rejecting it the day after!!!
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ricky 7:46PM (5/01/2009)
The items for sale were old engines (3.5/2.7), old product / tooling, and plants/stores that were not in use anyway.
They did this with the old Stratus/Sebring when they sold the tooling to the Russians so they could build them over there.
Just another avenue to make money..
How come you didn't include that in the post guys ?
FAIL
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Damon Lavrinc 7:57PM (5/01/2009)
Because -- as the source article makes clear -- this attempt to sell off Chrysler's assets covered almost everything -- right down to individual brands. Unlike the Sebring tooling sold to GAZ for the Volga, they were trying to offload their current technology, platforms and infrastructure, along with a paint factory -- not a few aging platforms and engines.
Jake B 9:02PM (5/01/2009)
Is it for sure that Chrysler intended to sell everything off if they could or if they were simply weighing their options. You kind of have to let people know that you are for sale if selling out is an option.
Mike 11:32PM (5/01/2009)
"not a few aging platforms and engines."
To be fair ,the new stuff is not that new.
Also I believe they did try to sell everything, they had nothing to lose. The gov is now handing them to fiat, why not try to sell everything. I'm just surprised the Russians or Chinese didn't pick some stuff up. The cost of engineering a platform is high. It would have been a cheap and time saving way to pick up advanced tech (that's a relative statement)
notYou 7:50PM (5/01/2009)
AB: "Even more interesting/disturbing is the revelation that for the last two years, Chrysler has attempted to forge an alliance with nearly every automaker on the planet, including GAZ, Honda, Hyundai, Magna, Nissan and Tata, along with General Motors and even Toyota."
It's nice to know that even though every suitor on the planet took a look at the deal and said "uhh, no thanks", Obama's superior business sense (armed with the Future Taxpayer's of America Checkbook and a cadre of Teleprompters) knew it was worth saving!
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drolds1 8:35PM (5/01/2009)
When you latch onto non-issues like Teleprompters, you lose any credibility. Every president has used Telepromters since they were invented. George Bush still couldn't put together a cogent sentence even with a Teleprompter. I guess you're not used to a president that actually can speak English.
notYou 8:40AM (5/02/2009)
drolds1: "I guess you're not used to a president that actually can speak English."
No, I am fully accustomed to that, I'm just confused because we're constantly told how great his oratory skills are, but all I ever do is see him read. And when he does talk impromptu without the safety net, he's usually struggling between Uhms and Mmmms.
Where it's more relevant to my point is the notion of who's writing what he's reading? It's become obvious in recent weeks that he often seems surprised at what he's being told to say. I don't believe I ever saw a previous President have that problem...hence my concern for his (who's?) decision making.
Thanks for playing!
AZZO45b 7:18PM (5/02/2009)
Umms & mmms are a big improvement over DUHHHs & HEH-HEH's. But what would we expect from someone that thought the last guy did a great job (rolls eyes)
Your guy didn't flush the toilets for 8 years & you B*TCH that the new guy & his staff had to spend on the large plumber bill!!!
Anti-believer 7:50PM (5/01/2009)
Honda was like....
Who?
They want to do what?
[ laughing uncontrollably ]
Tell me again who needs help?
[ laughing their asses off ]
Tell them hell no and not to contact us ever again!
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homunculus 7:50PM (5/01/2009)
Look at them in their matching, brand new Carhartt jackets. They're regular American Joe six-packs!
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Kalle 4:42AM (5/02/2009)
Bob the Plumber?
StanleyVanBuren 7:57PM (5/01/2009)
Wait...
they tried to SELL Intellectual Property rights... to the CHINESE?
BWAHAHAHAHAHAHAHAHA etc.
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jpm100 8:49PM (5/01/2009)
As opposed to every manufacturer in China who just gives it away to them as the price of admission.
airswingman 10:56PM (5/01/2009)
China doesn't need those junk, not even Afghanistani . lOL