Two Private Equity Firms Interested On Chrysler

February 14 was a sad day for Chrysler employees in the country. On that day, DaimlerChrysler Chief Executive Officer Dieter Zetsche announced that due to the poor performance of the U.S. brand, all options are open for the brand including its sale. The day also saw the workforce reduction carried out by the company as a part of its restructuring plan.

The speculations that Chrysler will be for sale is made even more plausible with the emergence of interested firms popping out and saying that they are interested in buying the U.S. arm of DaimlerChrysler AG. It can be remembered that Chrysler has already planed to cut down the number of their employees in the following months.

Aside from workforce reduction, the restructuring plan of Chrysler involves closing down of a plant and eliminating shifts on two plants. These steps, as Chrysler maintained, are necessary to address the reduced demand for their vehicles.

Recently, The Associated Press reported that there are now two firms which are most likely going to be the next owner of Chrysler. The Cerberus Capital Management LLC and a group of investors led by the Blackstone Group and Centerbridge Partners LP. These firms have expressed their intention to buy the troubled company. The American news agency reported that representatives of the group have made a visit at Chrysler’s headquarters in Auburn Hills, Michigan.

The Associated Press also spoke with a Chrysler insider who disclosed that potential bidders are now looking into Chrysler’s financial status.

Another firm that has shown interest in Chrysler is Canadian car parts manufacturer Magna International along with the largest car manufacture in the world, General Motors. Although the Canadian firm has shown interest, insiders said that the possibility of the Canadian firm buying the company has been reduced. There are also other firms that have shown interest on Chrysler although these are not as strong as the interest shown by Cerberus and Blackstone are Apollo Management LP, and the Carlyle Group. These firms have not yet made comments about their interest on the car maker.

As far as the rumored takeover of General Motors of the ailing Chrysler group, experts pointed out that it looks unlikely. While General Motors has yet to comment about the rumored interest they might have on the third U.S. car maker, speculations in the auto industry says that the world’s largest car manufacturer will not gain any advantage from the acquisition of the ailing group. On the other hand, another U.S. brand, Ford, when asked whether there is a possibility of them buying Chrysler, Ford CEO Alan Mulally flatly said that it will never happen.

On a sudden twist, DaimlerChrysler AG Chief Executive Officer Dieter Zetsche has announced that there is a possibility that Chrysler will still remain as a part of the German company. But the emergence of the two firms most interested in the purchase of Chrysler has a look similar to Nissan cornering lights which shows which way Chrysler is going in the future.

By Ryan Thomas.

All-New 2008 Dodge Grand Caravan, Chrysler Town & Country Minivans Debut at the 2007 Detroit Show

The all-new 2008 Dodge and Chrysler minivans have once again proven that they have what it takes to be the best vehicles to move people and cargo. The thirty-five new and improved features make the 2008 Dodge Grand Caravan and Chrysler Town & Country not only practical but have all the right ingredients that would ensure 100% driving and riding satisfaction.

According to George Murphy, Senior Vice President - Marketing, Chrysler Group, "The all-new 2008 Chrysler Town & Country and Dodge Grand Caravan spice up the minivan recipe by offering an all-new contemporary appearance, five different models, three distinct seating and storage systems, unmatched entertainment systems and the safety you expect and deserve. Add in three powertrain options, clever interior features and industry-leading functionality and you have a recipe that will be a favorite with any family."

The 2008 Dodge and Chrysler Minivans have so much to offer. Aside from the high quality Dodge parts that they are equipped with, they also have the all-new Swivel ‘n Go™ seating system that allows a 180 degrees swiveling of seats—perfect for passengers seated at the back particularly the second row that may want to face third row.

The all-new Swivel n’ Go includes a removable table, covered storage bins in the floor of the second row, uncover storage for the third row and a fold-in-the-floor third row extra seat. It also provides an industry-first integrated child booster seat in the second row and a minivan exclusive one-touch power folding third row 60/40 bench seat.

Safety is an integral part of the 2008 Dodge and Chrysler minivans. They are equipped with all-row supplemental side-curtain air bags, Electronics Stability Program (ESP) complete with traction control and brake assist, LATCH child seat anchor system and a patented, energy-absorbing steering column are among the standard safety features. And that’s not all! The 2008 Dodge and Chrysler minivans also include Innovations like an industry-first integrated child booster seat, ParkView(TM) rear back-up camera, a rearview interior conversation mirror, integrated child safety seat and ParkSense(R) rear back-up system also ensure peace of mind while traveling.

The 2008 Dodge Grand Caravan and Chrysler Town & Country minivans are to be manufactured at two of DaimlerChrysler big plants: the Windsor Assembly Plant in Windsor, Ontario Canada and the St. Louis South Assembly Plant in Fenton, Missouri. The 2008 Dodge Grand Caravan and Chrysler Town & Country minivans are expected in US dealerships by fall of 2007.

By Correy Putton.