2011 Jeep Grand Cherokee - Click above for high res image gallery
Details are scarce at the moment, but we have learned that Volvo's award-winning design director, Steve Mattin, has left the company. While no further details are immediately available (why he left, where he is headed, possible successors, etc.), Dan Johnston, Volvo's East Coast PR manager confirmed the news to us after placing a call to his counterparts in Sweden this afternoon.
So, just what is a 19.9% stake in America's third largest automaker worth? Um, nothing. So says Daimler, which owns exactly that amount. The German company claims that, for accounting purposes at least, there is absolutely no value in its part-ownership of Chrysler. Just about a year ago, Daimler estimated that its share of Chrysler was worth some $1.17 billion. The remaining 80.1% was s
Hyundai, now a world-class engine manufacturer, may lend engine technology to Mercedes-Benz for a future four-cylinder powerplant. It was just a few short years ago that DaimlerChrysler, Mitsubishi, and Hyundai banded together in the Global Engine Manufacturing Alliance (GEMA) to build the so-called World Engine (pictured at right). The GEMA en
The last remnants of the merger between Daimler and Chrysler that occurred seven years ago has finally been put out to pasture with the announcement today of a new name for the German automaker. Shareholders voted today on the new name 'Daimler AG', but to keep a connection with co-founder Carl Friedrich Benz, the Mercedes Car Group will be renamed 'Merc
The history of Daimler Motor Corp. is very interesting and full of twists and turns. You can read about it here, but the part we're most interested in today starts in 1960. That's when Jaguar obtained the rights to use the Daimler name, and they have continued to use it on top-of-the-line Jaguars in every country but the U.S. since then. The latest Chris Tutor
Last week, DaimlerChrysler Canada announced a series of incentives for new car buyers and leasers, including an employee price discount and a deal with Petro-Canada for 20 cents off per liter of gas for one year (of "average driving"). So, instead of making higher-mileage vehicles, DaimlerChrysler is giving buyers a little relief at the pump for 12 months. After that, buyers are on their own. Eligible vehicles = all 2006 models, all 2007 models (except Dodge Caliber, Jeep Compass, Jeep Patriot,
The majority of Chrysler has just been sold to a private equity firm, but that doesn't mean the two divisions - Mercedes and Chrysler - won't continue working closely with each other. Foreign subsidiaries such as those in Australia will continue working almost as one company according to Chrysler Group Australia managing director Gerry Jenkins, who
Two years ago, the UAW gave some health care concessions to struggling GM and Ford in an effort to help the Detroit giants save billions of dollars and stay afloat. At the time, Chrysler was relatively well-off and so the union rejected a similar package for them. UAW President Ron Gettelfinger says that it's time to make up for that omission. Since 2005, the Chrysler Group went from a profit of $1.8 billion, to a loss of $618 million last year, and on to a $1.98 billion loss so far this year. G
The last couple of days, we've all been inundated with news of Chrysler's sale to Cerberus, and that's what we lead Podcast #66 with. As much as it makes analysts and pundits foam at the mouth, news about the sale is a pretty dry affair. We'll be keeping an eye on how things go with the newly independent Chrysler, though.
We've already reported on the forthcoming sale of Chrysler to Cerberus Capital Management, but until now, all the cited reports were mum on price. The New York Times has that figure and it's a cool $7.4 billion. A press conference to announce the deal is expected in about three hours, at 8 AM EST.
Late yesterday, insiders privy to the ongoing talks within DaimlerChrysler to sell off its less profitable American half have leaked that the number of groups vying for control of the ailing automaker have been narrowed down to three.
The bean counters at DaimlerChrysler have decided to postpone the automaker's first quarter results, mainly due to a switch from one set of reporting standards to another. Instead of publishing the report in April, as expected, DCX plans to release its quarterly earnings sometime in mid-May.
Not much has been heard about GM's acquisition of Chrysler recently, and with parts supplier Magna partnering with two private equity firms, the General has taken a back seat in the bidding. According to both Automotive News and the Detroit News, GM's proposal is still on the table,
The C-class is the entry-level Benz in the North American market. As such, every nouveau riche new graduate seemingly goes out and treats themselves to a slice of flashy bourgeois pie. That can be alarming for the Euro-car fan, as you risk being lumped into that precocious category along with Johnny Overachiever from down the block. There's no denying that the Stuttgart Swabians build nice vehicles, and we've certainly considered parking one in our driveway. We wouldn't want to deny ourselves th