Autoblog

REPORT: Jim Press leaving Chrysler by year's end

Jonny Lieberman — Fri, 21 Aug 2009 14:27:00 EST

Filed under: Hirings/Firings/Layoffs, Chrysler, Fiat

According to The Wall Street Journal Jim Press, the Chrysler Group LLC Deputy Chief Executive and sole surviving member of pre-bailout/bankruptcy Chrysler will be resigning his post by the end of November. The WSJ quotes three anonymous people close to the plan. When reached for comment, Press only stated, "I don't think anything has been released about management changes." If true, Press's departure will leave Fiat/Chrysler CEO Sergio Marchionne without any former-Chrysler advisers -- which may not be such a bad thing considering recent offerings like the Sebring, Journey and Caliber.

Still, one has to question the wisdom of losing a salty North American market insider like Jim Press, who spent 37 years at Toyota. Especially since Press was in the trenches when the Japanese automaker went from screwball import in the Sixties to the largest automaker in the world just a few decades later - a trick that Fiat would no doubt like to emulate.

Press was hired by Chrysler's former masters, Cerberus Capital Management LP, in 2007. His ToMoCo experience was supposed to help right Chrysler's boat, but it had too many holes in the hull from the apparent abuses inflicted by former "equal" Daimler. After a year on the job, Press found Chrysler on the brink of bankruptcy, and a few months later, they went under. If this report is true, it will be a sad chapter in an otherwise stellar career. Stay tuned.

[Source: The Wall Street Journal | Image: Bill Pugliano/Getty]

REPORT: Jim Press leaving Chrysler by year's end originally appeared on Autoblog on Fri, 21 Aug 2009 14:27:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Officially Official: Chrysler exiting bankruptcy, Fiat steps in and makes changes immediately

Frank Filipponio — Wed, 10 Jun 2009 13:28:00 EST

Filed under: Government/Legal, Hirings/Firings/Layoffs, Chrysler, Earnings/Financials, Fiat

Fiat now owns a big chunk of Chrysler. Officially. Soon after the Supreme Court gave it the go-ahead, the sale of Chrysler to Fiat was complete. Altogether, the deal took just 42 days. With a couple of signatures and a wire transfer Wednesday morning, the sale was official. Fiat gets most of Chrysler's assets and $6.6 billion in "exit financing" from the federal government.

This can be seen as a victory of sorts for the Obama Administration, which had hoped to get Chrysler reorganized quickly and efficiently. Supporters say that the new Chrysler Group LLC has a good chance of being more competitive out of the box, having shed much of its legacy labor costs and debt, and Fiat's expertise with small cars shouldn't hurt either.

Official statements by current Chrysler CEO Bob Nardelli and Fiat's Sergio Marchionne are pasted in after the jump. Nardelli congratulates employees on being a part of "a leaner, healthier and more robust company," and says goodbye at the same time. He will return to a position with Cerberus. Marchionne introduces himself as the new CEO, former Toyota exec Jim Press as Deputy CEO, and Robert Kidder as board chairman. He also promises that the world's sixth largest automaker will begin to show signs of improvement immediately.

In related news, the Obama Administration has announced the appointment of a new 'Compensation Czar' to oversee the salaries and benefits packages awarded to 175 major executives at seven of America's biggest companies that receive federal aid. According to the New York Times, Washington attorney Kenneth R. Feinberg will have "broad discretion" in determining what compensation packages executives are awarded, including the top 25 decision makers at General Motors, GMAC, Chrysler, and Chrysler Finance.

For its part, as it emerges from bankruptcy, Chrysler's union retiree trust (VEBA) will own 55% of the company, with Fiat getting a 20% share that can grow to a max of 35%. The U.S. and Canadian governments split the rest. If the Fiat-Chrysler deal is any indication, General Motors may see a quick exit from bankruptcy as well, even without a Fiat of its own to step in and help. Now they just need to get people into showrooms with cash in hand.

[Sources: Chrysler, The New York Times | Photo by Sean Gallup/Getty]

Continue reading Officially Official: Chrysler exiting bankruptcy, Fiat steps in and makes changes immediately

Officially Official: Chrysler exiting bankruptcy, Fiat steps in and makes changes immediately originally appeared on Autoblog on Wed, 10 Jun 2009 13:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

REPORT: Detroit execs grilled on dealer cuts by Congress, Henderson agrees to cough up closure list

Chris Shunk — Thu, 04 Jun 2009 13:28:00 EST

Filed under: Government/Legal, Chrysler, GM

When it comes to dealership closings, there is a big divide between what General Motors, Chrysler and President Obama's auto task force want and what dealers and Congress want. The bankrupt Detroit automakers say that closing dealerships will save money, streamline vehicle delivery, improve brand image, and improve the health of remaining retail stores.

Some members of Congress aren't so sure that dealer closings will cure much for GM and Chrysler, and the legislative branch brought Chrysler's Jim Press and GM's Fritz Henderson before the Senate Commerce Committee on Wednesday for yet another grilling. Broadly speaking, Congress tends to side with dealers because of the political influence of the dealer body, and because of the impact of dealership job losses in the districts/states that Congressmen and women serve.

According to The Wall Street Journal, committee chairman John D. Rockefeller (D-W. Va.) says that he doesn't "believe that companies should be allowed to take taxpayer funds for a bailout and then leave it to local dealers and their customers to fend for themselves with no real plan, with no real notice, with no real help." Mike Johanns (R-Neb.) added that he is introducing legislation that will force the Obama administration to require congressional approval to use TARP funds to obtain an equity stake in any company.

Press and Henderson told the dealers that they would need to ultimately close 3,400 dealerships. GM has so far announced 1,324 closings by the end of 2010, while Chrysler will shutter 789 retail stores by June 9. Over the course of the congressional proceedings, Automotive News notes that Henderson bowed to pressure to disclose the list of dealers GM is eliminating, although that list has not been made public yet.

Henderson calls bankruptcy "our last chance to get it right, to fix permanently those parts of the business that have diverted us from consistently building winning cars and trucks and the consumer experience to match." Dealers called the closings "hasty," and contend that the actions taken against them won't be nearly as effective as GM and Chrysler expect. Hat tip to Dave!

[Sources: Wall Street Journal; Automotive News - subs. req | Source Photo by Mark Wilson/Getty]

REPORT: Detroit execs grilled on dealer cuts by Congress, Henderson agrees to cough up closure list originally appeared on Autoblog on Thu, 04 Jun 2009 13:28:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

BREAKING: Chrysler 'rejects' 789 dealers nationwide, works to pare network by 25% by June 9

Chris Paukert — Thu, 14 May 2009 13:00:00 EST

Filed under: Car Buying, Government/Legal, Hirings/Firings/Layoffs, Chrysler, Earnings/Financials

Chrysler has just announced that it will 'reject' some 789 of its dealerships by June 9 as it works to downsize through Chapter 11 bankruptcy restructuring. That represents a 25% cut in its dealer networks, leaving 2,392 Chrysler, Jeep, and Dodge dealers to carry on if the automaker is able to successfully emerge from bankruptcy with its new partner, Fiat.

Auburn Hills reiterated that it will be "business as usual" with its entire dealership body throughout its bankruptcy proceedings, with plans to honor warranty and incentive payments "during the period that rejected dealers remain active."

According to information obtained by Automotive News, individual dealers will learn whether they are rejected or accepted via UPS letters delivered this morning. At that point, dealer owners will have 23 business days for a 'court review' of their individual cases.

The same memo that disclosed the planned UPS letter disbursement also details that after the 789 dealers are rejected, 80% of its remaining dealers will carry all three of the company's brands (that figure presently stands at 62%). According to that communiqué, Chrysler does not expect for many of those dealers to close just because their franchise contracts are being rejected - about 345 of those rejected operations are paired with other competing brands, and according to Chrysler executive vice president of sales, Steven Landry, fully 83 percent of the disenfranchised dealers currently sell more used vehicles than they do new ones.

Thanks to the protections afforded under bankruptcy, Chrysler will not be legally required to buy back any vehicles, parts, or tooling from rejected dealers, but the automaker says it will work to pair the disenfranchised with remaining dealers who may be willing to buy those assets.

Chrysler vows to contact the more than 3.5 million customers who have purchased cars and trucks through the rejected dealers to give them additional information on how to get their vehicles serviced.

If you're wondering if your local Chrysler dealers are earmarked for closure, a complete PDF list is available by clicking here.

Official press release after the jump.

[Sources: Chrysler; Automotive News - subs. req.| Image: Scott Olson/Getty]

Continue reading BREAKING: Chrysler 'rejects' 789 dealers nationwide, works to pare network by 25% by June 9

BREAKING: Chrysler 'rejects' 789 dealers nationwide, works to pare network by 25% by June 9 originally appeared on Autoblog on Thu, 14 May 2009 13:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

New York: Chrysler's Jim Press arrives in Fiat 500

John Neff — Wed, 08 Apr 2009 10:35:00 EST

Filed under: New York Auto Show, Chrysler, Fiat

Jim Press arrives in Fiat 500 - Click above for high-res image gallery

Marking the first time in a long time that an Italian vehicle other than a Lamborghini or Ferrari has appeared at a U.S. auto show, Chrysler Vice Chairman Jim Press showed up at his company's press conference this morning in a Fiat 500. "We're not announcing anything," he made sure to say as he exited the vehicle and took his place on stage to start the presser, though the act speaks for itself. Chrysler's future hinges largely on whether it can broker a partnership deal with Italian automaker Fiat before the government's newly imposed deadline that arrives in less than a month. Before he began reciting reassurances that Chrysler's OK to the crowd of journalist, Press remarked, "Wouldn't that make a great company car." Indeed it would, Jim.

Gallery: New York: Jim Press arrives in Fiat 500

New York: Chrysler's Jim Press arrives in Fiat 500 originally appeared on Autoblog on Wed, 08 Apr 2009 10:35:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Autoblog Podcast #108

Dan Roth — Tue, 23 Dec 2008 19:33:00 EST

Filed under: Podcasts, Etc., Earnings/Financials, Celebrities

Here's a little pre-Christmas gift from us to you: Episode #108 of the Autoblog Podcast. It's just Chris and Dan this time around, but we wanted to get at least one more 'cast in before the holidays. It's 51 minutes of fireside chat, touching on the Top Gear/Tesla dustup, Jim Press and his optimism about Chrysler, Toyota's first-ever loss, and, of course, the bailout. Enjoy, and send thoughts and impressions to Podcast at Autoblog Dot Com.

SUBSCRIBE to the Autoblog Podcast in iTunes
ADD the Autoblog Podcast feed to your RSS aggregator
DOWNLOAD the show now

Autoblog Podcast #108 originally appeared on Autoblog on Tue, 23 Dec 2008 19:33:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Jim Press says Chrysler could be America's Benz, BMW

Jeremy Korzeniewski — Mon, 22 Dec 2008 15:39:00 EST

Filed under: BMW, Chrysler, Mercedes-Benz

What American automaker best matches up with the uber-machines from the Germans? Lincoln... no, probably not. Cadillac? Getting warmer. How 'bout Chrysler, asks ChryCo. co-Prez Jim Press. After a quick review of Chrysler's current line-up, we're not really buying the comparison; but it's fun to dream, so we'll bite. The Sebring is roughly the size of the C-Class and 3 Series, but it's driving the wrong wheels to go head-to-head with BMW and Mercedes-Benz, so that would need a complete rework, to say the least.

The 300C is a very nice car with an appropriate engine up front, rear-wheel drive and a relatively attractive price compared to the Germans. That could work, but it's clear that Chrysler would need to pump lots more money into the car to keep it up to date with it's competition from Germany. Minivans don't equate very well to any Germanic rivals, especially since the R-Class from MB has been a major disappointment.

One possible area that Chrysler has over its supposed competition is trucks. The new '09 Ram may be a major step up from its predecessor, but we're not so sure we're ready to call it the Mercedes-Benz of pickups, which is pretty much how Press says he sees it. We're all for the idea of an American competitor for Mercedes and BMW, and we'd love to see the Pentastar emerge from its financial problems a leaner, more focused manufacturer. Still, we wonder if Chrysler should set its sights on cross-town rival Cadillac before jumping all the way to Germany.

[Source: Automotive News - sub. req'd, Photo by Brendan Smialowski/Getty]

Jim Press says Chrysler could be America's Benz, BMW originally appeared on Autoblog on Mon, 22 Dec 2008 15:39:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Chrysler bringing back Sales Bank... or not

Michael Harley — Tue, 16 Dec 2008 10:33:00 EST

Filed under: Plants/Manufacturing, Chrysler, Dodge, Earnings/Financials, UAW/Unions

Chrysler's "sales bank," the loathed program in which the automaker continues to manufacture and stock cars regardless of demand, is supposedly back through the end of the year. Chrysler LLC co-President Jim Press delivered the news to dealers on Friday during a nationally telecast conference call when he mentioned that district managers will be calling dealers trying to offload 12,000 units of unassigned inventory.

Dealers left the call gasping for air, recalled the summer of 2006, when Chrysler had nearly 650,000 units in the sales bank. At the time, there was a 91-day supply of vehicles. Today, with about 400,000 units in inventory, the automaker is sitting on a 117-day supply. While Chrysler claims repeatedly that they only make cars that dealers order, and have reduced production to match market share and plunging sales -- down nearly 28 percent this year -- stocks are still up. Why? According to a second report by Automotive News, Press clarifies his statements to the trade pub, saying that the vehicles being hoisted onto retailers were all ordered by dealers and later canceled due to dealerships that have closed, unsold vehicles from sales promotions, fleet customers that backed out or buyers that weren't able to secure financing. Despite the fact that dealers supposedly ordered these vehicles with the intention of selling them, we fail to see how pushing 12k in unsold product doesn't constitute a "sales bank" program.

[Source: Automotive News - Sub. Req.]

Chrysler bringing back Sales Bank... or not originally appeared on Autoblog on Tue, 16 Dec 2008 10:33:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Jim Press downplays Chrysler merger talk

Chris Shunk — Thu, 23 Oct 2008 16:29:00 EST

Filed under: Chrysler, GM, Nissan, Renault

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's Jim Press talks brand strategy at WAJ this week

Merritt Johnson — Fri, 05 Sep 2008 10:01:00 EST

Filed under: Chrysler, Dodge, Jeep

Chrysler has unveiled a few plans for the future and, rather than using past successes to carve the path, will adapt its course according to the changing market. While speaking at the recent Western Automotive Journalists' dinner, Chrysler President Jim Press touched on the need to generate brand identity amongst Jeep, Dodge and Chrysler. While each brand currently has a core theme, Jeep - off-road, Dodge - volume and performance, Chrysler - affordable luxury, there have been many recent deviations, such as the conglomeration that is the Jeep Compass. Press hopes to put an end to that trend and focus the company's aim at the automotive enthusiast. Toyota can keep the automotive appliance title, Press wants Chrysler to appeal to drivers rather than consumers.

Nevertheless, actions speak louder than words and Press backs up his claims through the current curtailing of vehicle production and the scheduled release of seven new vehicles come 2010. Like other manufacturers, Chrysler is aggressively pursuing alternative powertrain configurations, particularly electric drive. In case no one has noticed yet, 2010 will be a big year for the American automotive industry. It will be the point when the roller coaster ride reaches its end and some folks end up with motion sickness while others get a rush of adrenaline. Hopefully Chrysler can find themselves in the latter category.

[Source: Car Tech]

Chrysler's Jim Press talks brand strategy at WAJ this week originally appeared on Autoblog on Fri, 05 Sep 2008 10:01:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Chrysler execs doing house calls

Chris Shunk — Sun, 04 May 2008 11:32:00 EST

Filed under: Car Buying, Etc., Chrysler, Dodge, Jeep

If you have a Dodge Ram in the driveway and someone claiming to be Jim Press calls you asking if you're satisfied with your truck, it just might be him. Chrysler recognizes that it has a customer service problem, and the Pentastar is going to extraordinary lengths to correct it. Its top 300 executives and directors are participating in a program called "Customer First" that puts a priority on -- you guessed it -- the customer. The executives, even guys named Nardelli, Press, and LaSorda, are responsible for at least one customer call per day, and all execs will man at least one shift at Chrysler's customer call center.

The Pentastar elite are also partaking in a three month competition to see who can generate the most sales. We don't know what the prize is for the winner, but whomever claims top sales should get something really, really good. Like a lifetime supply of Chrysler Sebrings.

[Source: Detroit Free Press]

Chrysler execs doing house calls originally appeared on Autoblog on Sun, 04 May 2008 11:32:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Jim Press and Chrysler clarify hybrid subsidy comments

Noah Joseph — Thu, 03 Apr 2008 09:34:00 EST

Filed under: Hybrid, Government/Legal, Chrysler, Toyota

Jim Press has found that his comments have landed him somewhere between a rock and a hard place, with his current position at Chrysler on the one hand and his former employers at Toyota on the other. In an interview with BusinessWeek, Press claimed that the Japanese government had directly subsidized the development of the Prius hybrid. Toyota spokesmen were quick to refute Press' comments, pointing out that their former executive had given statements directly to the contrary in the past, including testimony to the U.S. House of Representatives.

Chrysler, in turn, has now issued a statement clarifying its president's remarks. A release posted on the company's Firehouse media blog claims that Press was "not speaking negatively of Toyota." The Japanese auto giant would clearly disagree, but the statement goes on to clarify that Press' comments were intended to highlight the need for closer cooperation between Washington and the Big 3, along the lines of the relationship which Press claimed exists between Japanese government and industry. Hardly a reversal of position, and somehow we doubt this will be the end of the row.

For more details, follow the link to BusinessWeek's follow-up article and read Chrysler's statement in full after the jump.

[Source: Chrysler and BusinessWeek]

Continue reading Jim Press and Chrysler clarify hybrid subsidy comments

Jim Press and Chrysler clarify hybrid subsidy comments originally appeared on Autoblog on Thu, 03 Apr 2008 09:34:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Toyota claims Jim Press lied about gov't funding Prius development

John Neff — Wed, 02 Apr 2008 12:58:00 EST

Filed under: Hybrid, Green, Toyota

Jim Press worked for Toyota in the U.S. a total of 37 years, so the Japanese automaker was no doubt shocked when the current co-captain of Chrysler LLC dropped a bit of untruthiness about his former employer in a recent Business Week article. Press claimed that the Japanese government paid for 100% of the development of battery and hybrid system of the Prius, an advantage that U.S. automakers don't receive from their government. Today, Toyota came out and said Press was just plain wrong. A Toyota spokesman claims that Toyota received absolutely no money from the Japanese government for developing the Prius. Who is telling the truth? We have no idea, but until Press parted his lips in this Business Week report, we had never heard of allegations that Toyota received funding for the Prius from the Japanese government, let alone that the vehicle's hybrid powertrain development was entirely paid for by the government.

[Source: The Detroit News, Photo by Mark Wilson/Getty]

Toyota claims Jim Press lied about gov't funding Prius development originally appeared on Autoblog on Wed, 02 Apr 2008 12:58:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Chrysler exec says all its vehicles will be hybrids

Chris Shunk — Sat, 01 Mar 2008 13:05:00 EST

Filed under: Hybrid, Green, Chrysler, Dodge, Jeep

Chrysler president Jim Press saw what hybrid technology did for Toyota, and now the 37-year auto industry vet wants to repeat that success with the Pentastar brands. Press informed attendees at a seminar in New York recently that Chrysler would one day utilize hybrid power in each and every Dodge, Chrysler and Jeep. Of course, the charismatic exec had no timetable for Chrysler's full immersion into the land of hybrid hyperbole, but we would guess that kindergarteners may be ready for college by the time this happens. Before Press finished, he also mentioned an intention to sell as many Chryslers in other markets as the Auburn Hills-based company sells in the States.

While it's easy to kick Chrysler when it's down, the privately-owned company has to aim high or it won't have much of a chance. From the day Press entered Chrysler's hallowed halls, he's had a consistent message that the company would have plenty of alternative powertrains for its vehicles. Maybe we'll see Press one day driving down Woodward in a Dodge Zeo. OK, probably not.

[Source: Popular Mechanics]

Chrysler exec says all its vehicles will be hybrids originally appeared on Autoblog on Sat, 01 Mar 2008 13:05:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Chrysler's Project Genesis: Trim models, consolidate dealers

Damon Lavrinc — Thu, 07 Feb 2008 19:24:00 EST

Filed under: Hirings/Firings/Layoffs, Chrysler, Dodge, Jeep

Chrysler's previous consolidation strategy, dubbed "Project Alpha," was implemented in 2004 to trim and combine dealers. All told, Chrysler was able to cut its dealer network down from 4,000 to 3,600. Not nearly enough to get outlets on par with demand. So Chrysler's co-pres, Jim Press, announced today that Project Alpha is out and Project Genesis is on the way in.

According to Automotive News, as you read this, business teams are fanning out across the U.S. to negotiate with dealerships to either buy other outlets or sell their own in an effort to pair down Chrysler's bloated sales network. The plan is to get all three of the automaker's brands - Chrysler, Dodge and Jeep - under one roof, with the possibility of creating satellite dealerships and service-only facilities in outlying areas.

But if all of Chrysler's wares are in plain sight of the public, won't that confuse consumers with all the product overlap between brands? Yes. And that's why Chrysler is looking to nix models that are badge-engineered duplicates of other vehicles offered by the automaker. So in addition to killing off the PT Cruiser, Pacifica, Crossfire and Magnum, more models are about to be cut out of the line up. We'd mention a few suggestions here, but we're sure you can come up with some of your own.

However, it's not all about the cuts. Press went on to say that Chrysler would develop new models to compete in segments that the automaker previously hasn't pursued and that even though sales outlets are going to be consolidated, Chrysler doesn't have the ability to hand out massive checks to dealerships on the chopping block.

[Source: Automotive News - Sub. Req.]

Chrysler's Project Genesis: Trim models, consolidate dealers originally appeared on Autoblog on Thu, 07 Feb 2008 19:24:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Surprise! Dodge Challenger convertible planned

Damon Lavrinc — Thu, 07 Feb 2008 14:59:00 EST

Filed under: Chicago Auto Show, Coupe, Dodge

Click above for a high-res gallery of the Dodge Challenger.

During yesterday's unveiling of the Dodge Challenger, Chrysler's Vice Chairman, Jim Press, confirmed what we've already known; that Dodge expects to sell between 20,000 and 30,000 Challengers a year once production goes full-bore. All 6,400 Collectors Edition SRT8 models due to hit dealers this spring have been sold and there's a waiting list for the 2009 models. Naturally, more variants will be available next year with less powerful engines and a convertible version is supposedly in the works.

According to the Freep, Press expounded on the Challenger's virtues, saying that the SRT8 has a higher top speed (170 mph) than BMW's M5. Kind of a misnomer considering that the M5's speed limiter keeps the BMW sedan below 155 mph - unleashed, it has the potential of doing 205 mph. The Freep also quoted Press as saying that the Challenger has more torque than the Porsche 911 Turbo. Ummm... no. The 6.1-liter Hemi V8 produces 420 lb.-ft. of twist compared to the 911 Turbo's 460 lb.-ft. Maybe he was misquoted (he meant or said 911, not Turbo?), since his next line gave us pause. "When you sit inside, it makes you feel younger and richer than you are." Younger? Maybe. Richer? Not quite Mr. Press. We've seen the interior and it's hardly what you'd call luxurious, let alone exciting.

[Source: Detroit Free Press]

Gallery: 2008 Dodge Challenger SRT8

Surprise! Dodge Challenger convertible planned originally appeared on Autoblog on Thu, 07 Feb 2008 14:59:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Jim Press: little trucks could be big

Dan Roth — Mon, 28 Jan 2008 07:29:00 EST

Filed under: New York Auto Show, Trends, Truck, Chrysler, Dodge

click above for more pics of the 2002 Dodge M80 Concept

Jim Press thinks that there's an emerging market for small, fuel efficient trucks. You know, the kind of trucks his former employer, Toyota, used to build. Press put in 37 years at Toyota, and he saw the evolution of the HiLux into the Tacoma, which is no longer the diminutive hauler it once was. Press owns a second home in Thailand, and observing how trucks are used in that country leads him to believe that there's a worldwide need for a small, versatile pickup. Dodge's Dakota saw its sales drop by one third between 2006 and 2007, and Press thinks that's likely due to buyers shifting to crossovers.

There's not a whole lot of incentive to buy a midsize truck right now - they cost nearly the same as an entry level full sizer, the mileage is only marginally better, and the size differential isn't that great. We can recall two Dodge concept pickups of the recent past that we think buyers who miss the small pickup market might take a liking to. First, there's the 2006 Dodge Rampage Concept, which packed a lot of utility in a small footprint. Then there's the 2002 Dodge M80 Concept, one of the few Chrysler concepts that got a great reception but wasn't produced. Put the M80 into production on a unibody platform with some unique powertrain options, Jim. Trust us, you won't be sorry.

[Source: PickupTruck.com]

Gallery: 2002 Dodge M80 Concept

Gallery: 2006 Dodge Rampage Concept

Jim Press: little trucks could be big originally appeared on Autoblog on Mon, 28 Jan 2008 07:29:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

VIDEO Detroit 2008: Dodge Ram live reveal (with more cattle!)

Chris Shunk — Sun, 13 Jan 2008 13:53:00 EST

Filed under: Detroit Auto Show, Truck, Videos, Chrysler, Dodge

The Dodge Ram is a game changer for Chrysler, with lots of new storage options, a heavily upgraded interior, available coil-sprung rear suspension and up to four more MPG than the outgoing model. We've already detailed the excitement of Chrysler's unique introduction of the new Ram, but we figured you'd like to see video of the action, as well. Only Chrysler would march 115 head of cattle up a street in downtown Detroit to welcome its new pickup. They appear on screen with about 2:00 left. Keep your eye on the herd in the background too, they get ornery and a couple can be seen crowd surfing. Check out Jim Press in his first big press conference on the Chrysler payroll, as well. He looks like a Pentastar lifer.

Gallery: Detroit 2008: 2009 Dodge Ram - Live Reveal

VIDEO Detroit 2008: Dodge Ram live reveal (with more cattle!) originally appeared on Autoblog on Sun, 13 Jan 2008 13:53:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

SRT safe from the firing squad

Alex Nunez — Wed, 07 Nov 2007 17:29:00 EST

Filed under: Performance, Etc., Chrysler, Dodge

It's no secret that Chrysler's going through a rough patch right now as it sets its turnaround plan in motion. Just last week, the automaker announced additional job and manufacturing cutbacks and killed off four underperforming models. Of interest to enthusiasts, however, is the news that SRT, the in-house tuner responsible for niche vehicles like the Dodge Charger SRT8 shown above, went unscathed.

In an interview with Edmunds Auto Observer, SRT marketing head Michael Accavitti weighs in with his thoughts about SRT's current position and future direction, how the Daimler split affects it (not much, apparently) and how it'll fare under new Chrysler boss Bob Nardelli (Accavitti is extremely "up" on the former Home Depot chief). We encourage you to read the interview in full, but based on his comments, it seems that SRT remains very much in the plan for Chrysler. It has received support from new sales/marketing/product czar Jim Press, who understands the need to have halo cars such as the SRT models, and for his part, Accavitti doesn't come across as someone who's worried his toys might get taken away from him anytime soon. Check it out by clicking here or hitting the "Read" link below.

[Source: Edmunds Auto Observer]

Photo Copyright (C)2007 Alex Núñez / Weblogs, Inc.

SRT safe from the firing squad originally appeared on Autoblog on Wed, 07 Nov 2007 17:29:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments

Jim Press never owned a Toyota, wants to form gang with Chrysler dealers

John Neff — Thu, 27 Sep 2007 15:58:00 EST

Filed under: Chrysler

When the former CEO of Toyota North America (a successful venture, wouldn't you say?) talks, people tend to listen. Press recorded an internal interview that's hosted over at Chrysler's media-only Firehouse blog, which reveals some interesting sides to the man that many hope will be integral in Chrysler's turnaround.

Most media outlets are focusing on his revelation that despite decades on the Toyota payroll, he never once owned a Toyota or Lexus. Currently he owns only a Yamaha motorcycle. That's going to be impractical during a Detroit winter, so he plans to be driving a Chrysler product very soon.

Press also makes the strange comment that if he were to ever participate in a bar room brawl, he'd pick Chrysler, Jeep and Dodge dealers to have his back. We're not sure if Press is expecting fisticuffs at the Firehouse this January, but he seems to be preparing a posse early.

That's just ancillary information, though. We want to hear about what Press is going to do to fix Chrysler, and surprisingly he indicated that a lot of what needs to be done is not in his power to do. Press makes the good point that Chrysler dealers are closer to the customer, and near-term changes have to start with them. His priority appears to be empowering them to make those changes.

[Source: Chrysler]

Continue reading Jim Press never owned a Toyota, wants to form gang with Chrysler dealers

Jim Press never owned a Toyota, wants to form gang with Chrysler dealers originally appeared on Autoblog on Thu, 27 Sep 2007 15:58:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments