Chrysler bought by Cerberus

[jmv]

http://money.cnn.com/2007/05/14/news/companies/chrysler.reut/?postversion=2007051405

*FRANKFURT (Reuters) -- Private equity firm Cerberus will buy the majority of DaimlerChrysler's struggling Chrysler Group for $7.4 billion, breaking up a transatlantic car union that never lived up to its billing as a marriage made in heaven.

Cerberus Capital Management gets an 80.1 percent stake in Chrysler Group and its related financial services business, DaimlerChrysler said on Monday.

The deal, months in the making, puts a major U.S. automaker in hands of a private equity group for the first time.*

[jmv]

i wonder what this means for them?? Seems like them getting to use merc parts in cars like the crossfire, even if they were older merc parts, was a good thing.

[GNsPR5]

I have a friend who works for Mercedes Autohaus down here. He has said nothing but bad things about the merger with Chrysler. Quality of the Benz product has gone down due to the use of Chrysler crap parts. Hopefully this sale will put Benz back on track for quality. Why buy one for the price they ask with crap parts in it.

He says it will take a good 2-3 years for the parts to revert back to quality as inventories of existing parts are exhausted. He's actually very happy about this.

oh and btw, don't buy any S class Benz. he says they are crap because it was designed by a Chrysler Team.

my .02 cents

[seanmcsean]

I'm going to go out on a limb and say there aren't many on this board who were considering buying a new mercedes s-class sedan.

[GNsPR5]

I'm going to go out on a limb and say there aren't many on this board who were considering buying a new mercedes s-class sedan.

LOL!

no? but why???? (naughty)

just kidding.

[TinmanMS6]

I have a friend who works for Mercedes Autohaus down here. He has said nothing but bad things about the merger with Chrysler. Quality of the Benz product has gone down due to the use of Chrysler crap parts. Hopefully this sale will put Benz back on track for quality. Why buy one for the price they ask with crap parts in it.

He says it will take a good 2-3 years for the parts to revert back to quality as inventories of existing parts are exhausted. He's actually very happy about this.

oh and btw, don't buy any S class Benz. he says they are crap because it was designed by a Chrysler Team.

my .02 cents

AFAIK, there was no sharing of Chrysler parts to the Benzes. Chrysler got some of the older Benz platforms, but nothing went the other way.

[GNsPR5]

AFAIK, there was no sharing of Chrysler parts to the Benzes. Chrysler got some of the older Benz platforms, but nothing went the other way.

Well...he has been working there for some 20+ years, I would think he is telling me the real deal. That or Benz is going the crappy route to cut cost, but I wouldn't believe that either...



Chrysler has a big hole to dig out of anyway. Good luck to them.

[seanmcsean]

If they build the challenger, that should help.

Other than that, they have to stop focusing on their minivans to carry the business.

I mean seriously, who really WANTS a sebring or an "avenger." The PT cruiser lost steam, and aside from the Magnum/300c/charger etc platform, they don't have a bonafide winner.

It amazes me that they could lose so much money when there is a 0 day supply of the wrangler 4 door.

[TinmanMS6]

I don't presume to know anything about your friend, so don't take offense, but working at a dealership does not mean you know anything about a car. I know--my girlfriend is a finance manager, and has worked for M-B and Chrysler dealerships, as well as owning a Crossfire. Most people who work at dealerships know less than nothing about the cars they sell. They know option packages and models and will make up the rest as they see fit.

[GNsPR5]

Well...this guy is a mechanic for 25 years, 20 at Autohaus.

Oh and no offense taken, he's a real grease monkey (and why I don't let him in my car....man needs a heavy duty bath)

[protojason]

I like the looks on the crossfire. It'd be neat to buy a used one and turbo it. They look regal/classy to me.

most dont like the back end, and i hear it's a pain to see out of, but I still like the looks.


Jason

[TinmanMS6]

Save yourself the trouble and buy the SRT-6. It's already got a turbo.

If you're any larger than average-sized, forget about this car. I'm 6'1" and broad, and I don't fit in the seat properly, and my head hits the ceiling. Blindspots are horrendous. Ergonomics are worse. It's like they took all the worst things about American and German interior design and blended them together into the worst interior known to man. The cupholder feels like it's going to snap off every time you use it, the audio controls are poorly marked and counter-intuitive, and the climate control is just plain weird.

[johnnyB5646]

That and the srt6 only comes with an auto. Chrysler seemed to be headed in a better direction, maybe not the right direction but better. I like the Magnum/Charger/300 triplets, and the Avenger isn't horrible. At least they are trying to make somewhat attractive vehicles with some muscle, they just need to step up the quality and make vehicles fun to drive and then they could maybe turn it around.

[GNsPR5]

My Dad taught me something at a very young age. American cars can go very fast in a straight line. They handle like crap in corners.

I like a challenge of driving a winding road. Anyone can drive straight (except the Senior citizens here in Florida)