Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Hyundai officially denies interest in Chrysler LLC]]>http://www.autoblog.com/2008/11/11/hyundai-officially-denies-interest-in-chrysler-llc/http://www.autoblog.com/2008/11/11/hyundai-officially-denies-interest-in-chrysler-llc/http://www.autoblog.com/2008/11/11/hyundai-officially-denies-interest-in-chrysler-llc/#commentsFiled under: , ,



Despite Reuters reports of Hyundai's interest in Chrysler and specifically the Jeep brand, Hyundai has gone on record denying it. We've grown accustomed to automakers giving the arbitrary "no comment" response when the rumormill swirls with corporate takeover talk, but Hyundai has flat-out denied any interest at all. Almost in the same sentence, though, officials from the Korean automaker state that the company is interested in constructing new plants overseas, so we wonder if there's any fire behind the smokescreen, possibly outside the United States. Perhaps not.

There still remains the chance that Chrysler's automotive operations will be parted out and sold to the highest bidder, regardless of who that party may be. At the very least, Cerberus could decide to sell manufacturing plants to various automakers like Hyundai or the Nissan/Renault alliance, whose offer for 20% of the ailing American automaker may not seem so bad after all.

[Source: Trading Markets]

Hyundai officially denies interest in Chrysler LLC originally appeared on Autoblog on Tue, 11 Nov 2008 09:00:00 EST. Please see our terms for use of feeds.

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On the same day that General Motors announced it would be discontinuing talks with Cerberus over a possible purchase of Chrysler, news hits by way of Reuters that a replacement suitor has sprung up. Wow, that didn't take long. The latest partner is none other than Hyundai, Korea's largest automaker. Not surprisingly, it's the Jeep brand that is again taking center stage according to these initial rumors. Everybody wants Jeep, it seems. If true, the possibility of breaking Chrysler's automotive operations into bits and pieces once again seems like a distinct possibility. What's more, after acknowledging that GM is abandoning talks of a "strategic acquisition," Chrysler's Bob Nardelli may now be back on the phone with Carlos Ghosn, head of the Nissan/Renault juggernaut, along with, presumably, anybody else who is willing to listen and has a pulse.

[Source: Reuters]

Hyundai: Newest Chrysler suitor? originally appeared on Autoblog on Fri, 07 Nov 2008 18:56:00 EST. Please see our terms for use of feeds.

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Click above for high-res gallery of the Viper ACR

Chrysler may be burning to the ground like ancient Rome, but its craziest citizen, the Dodge Viper, is out dancing in the streets. Because even while General Motors prepares to ransack Chrysler LLC, the Viper sales are continuing undeterred. Although Chrysler sales overall are reportedly down a whopping 32%, Dodge continues to produce and sell Vipers at a rate of 100 units per month. Not just that, but the Viper ACR - the $105k track-prepped super-snake - is all but entirely sold out... not in spite of the poor economy, but because of it. Chrysler reports that with stock portfolios rapidly losing their value and dollar values plummeting, investors are seeing the Viper ACR - potentially to be discontinued and retaining a high resale value - as a sound investment opportunity. With smile inducing dividends, too.

While GM and Cerberus talk take-over turkey, the fiscal viability of the Viper unit is bound to make it an attractive asset for any number of buyers. So while Chrysler may be counting its days, the Viper is likely to live on for some time yet.

Gallery: First Drive: 2008 Dodge Viper ACR


[Source: Inside Line]

Viper still selling like hotcakes, ACR sold out originally appeared on Autoblog on Wed, 05 Nov 2008 10:41:00 EST. Please see our terms for use of feeds.

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The automotive world is abuzz with rumors and speculation regarding a possible Chrysler merger, and with good reason. It appears Cerberus, which owns 80.1% of Chrysler LLC, may be ready to wash its hands of the auto industry, and either General Motors, Nissan, or some other entity altogether could take the Pentastar off the private company's hands. Optimistic Chrysler Vice Chairman Jim Press told reporters at a recent Society of Automotive Engineers' conference that Chrysler would "be around", and that everyone should stop paying attention to wild speculation by the news media (Is he talking about us?). Press went on to say that Chrysler has adjusted the size of its business to meet the current economic realities (read: downsized) and that the negative cash flow has largely stopped. The affable vice chairman even joked that Chrysler's $11 billion in cash reserves could be a big reason that other companies are interested in shacking up with the beleaguered automaker.

Press' public words regarding a possible merger were the first from a Chrysler exec, but he sure didn't provide much in the way of details. That's not surprising, considering the sensitive nature of what could be ground-breaking negotiations for the auto industry. That means the wild speculation will continue, as the fate of thousands of workers and scores of Mopar minions hang in the balance.

[Source: The Detroit News, Photo by Bill Pugliano/Getty]

Jim Press downplays Chrysler merger talk originally appeared on Autoblog on Thu, 23 Oct 2008 16:29:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>chrysler mergerChryslerMergergmjim pressJimPressnissanrenaultThu, 23 Oct 2008 16:29:00 EST<![CDATA[Rumormill: Chrysler cancels development of Phoenix V6 engines]]>http://www.autoblog.com/2008/10/21/rumormill-chrysler-cancels-development-of-phoenix-v6-engines/http://www.autoblog.com/2008/10/21/rumormill-chrysler-cancels-development-of-phoenix-v6-engines/http://www.autoblog.com/2008/10/21/rumormill-chrysler-cancels-development-of-phoenix-v6-engines/#commentsFiled under: , , , ,



The Chrysler rumormill is running at full steam for obvious reasons, and the latest talk surrounds Chrysler and its $3 billion Phoenix V6 engine program. Word on the street is that the project has been canceled, which makes abundant sense if in fact a Chrysler merger is imminent. If a deal to merge Chrysler with either General Motors or Renault/Nissan materializes, both potential mates have V6 engines that are vastly superior to anything nestled under the hood of a Chrysler, Dodge or Jeep. Why would either automaker want to spend $3 billion for something it already has?

There seems to be little doubt among analysts that Chrysler will merge with another automaker, and the only question at this point is whether it will be GM, Renault/Nissan or some mixture of the two. Continuing to spend money on projects like a new V6 engine or a new dual clutch transmission doesn't make much sense at this point, especially since Chrysler's suitors already have or are working on these technologies. Thanks for the tip, Jason!

[Source: Allpar, Photo by rkupbens | CC2.0]

Rumormill: Chrysler cancels development of Phoenix V6 engines originally appeared on Autoblog on Tue, 21 Oct 2008 13:28:00 EST. Please see our terms for use of feeds.

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General Motors and Cerberus reportedly want to act as quickly as possible if they are going to make a move on Chrysler. It seems that the two bargainers would like to come to a decision before the upcoming Presidential elections, as they believe they may get more promises from either candidate before the actual vote takes place. A potential problem exists though, as General Motors is finding it tough to come up with the cash needed to make a deal happen and banks aren't about the lend it to them. An alternative option that's being considered is getting government backing for the deal.

Though it sounded hard to believe when we first heard the GM/Chrysler merger rumors, it truly appears that these talks are taking place at a very high level and the deal could indeed be on its way to. We'll just need to pay close attention in the next few weeks to the reactions from the Feds, the UAW and the thousands of workers that would inevitably be affected by the deal. Stay tuned.

[Sources: The Detroit News, Market Watch, Automotive News - sub. req'd]

GM wants Chrysler deal done soon, might not be able to get the cash originally appeared on Autoblog on Tue, 21 Oct 2008 08:01:00 EST. Please see our terms for use of feeds.

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In 1987, Chrysler purchased the American Motors Corporation from Renault, and all AMC models ceased to exist shortly thereafter. The only survivor was Jeep, which was really the only brand worth rescuing. Could something similar happen today if GM "merges" with Chrysler? Once again, Chrysler's most desirable asset is the Jeep brand, along with its minivans - a segment that General Motors has completely abandoned in favor of three-row crossovers. In such a scenario, the Chrysler and Dodge brands would basically cease to exist, with General Motors phasing the products it wants into its own lineups. Newer, efficient plants could be converted to build GM vehicles, which would allow the General to close older plants and lose excess production capacity that isn't needed. Any cash that Chrysler has on hand would allow GM to float its own operations that much longer before returning to profitability. This is a simplistic overview, but it is a possibility being floated around by analysts that would explain why GM has any interest in Chrysler at all. We imagine there would be huge opposition to the situation playing out like this, not the least of which would come from the United Auto Workers union, which makes us wonder how likely such a "merger" could possibly be.

[Source: The Detroit News]

REPORT: GM could consume Chrysler in one bite originally appeared on Autoblog on Thu, 16 Oct 2008 16:28:00 EST. Please see our terms for use of feeds.

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Bob Nardelli, Chrysler's current CEO, has given his employees the closest thing to an admission as we are likely to see that the company has been in serious negotiations with other automakers regarding future product plans and possibly even mergers. As has been widely reported over the weekend, Chrysler has apparently had discussions with General Motors regarding a tie-up between the two automakers, and the rumormill is churning away with stories that GM isn't the only suitor. Carlos Ghosn already has a history of merging automakers, and his Nissan/Renault partnership has naturally been recalled as a possible mate with Chrysler, as have Fiat and Tata Motors.

Remember that there's nothing concrete here to report, just speculation. At this point, all we know is that Nardelli admits that there are "third parties who are interested in exploring future possibilities with Chrysler" and that "as the company evaluates strategic options to maximize core operations and leverage its assets, we engage in a dialogue with these parties." Sounds pretty vague, wouldn't you say? These talks can be routine or they could be much more. We'll just have to keep an interested eye on the news.

[Source: The Detroit News]

In addition to Nissan/Renault, Chrysler has been talking with Tata, Fiat originally appeared on Autoblog on Tue, 14 Oct 2008 19:31:00 EST. Please see our terms for use of feeds.

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