How America Started Selling Cars Again - Dodge Nitro Forum
Chrysler/Dodge/Jeep News Find out the latest scoop here!

LinkBack Thread Tools Display Modes
post #1 of 2 (permalink) Old 12-08-2011, 01:03 PM Thread Starter
Super Moderator
rickaren's Avatar
Join Date: Nov 2006
Location: Indiana
Posts: 22,847
Thumbs up How America Started Selling Cars Again

How America Started Selling Cars Again

December 8, 2011

When President Obama’s automobile task force was mulling a menu of seemingly bad options on how to save the car industry in 2008, one of its earliest assumptions was that Chrysler was deader than a Rambler. In Time’s cover story this week, you can find out why Obama’s decision to sell a very used automobile company to Italy’s Fiat has proved to be a good deal for both parties.

After some intense negotiations, auto czar Steven Rattner was persuaded by Fiat CEO Sergio Marchionne to hand over the keys to Chrysler, and throw in some $5 billion in loans.

The payoff? Chrysler is surging, the government got its money back, with interest, and more than 40,000 jobs have been preserved. Indeed, Chrysler is doing so well this year, with sales up 20%, that it is investing $500 million in its Toledo, Ohio plant to build more Jeeps and add 1,100 jobs.

It’s one of the great turnaround stories to come out of the financial meltdown, and certainly an argument that government bailouts aren’t necessarily a losing proposition, given the right circumstances. And that’s what Marchionne got right. “There were things that Fiat had, that I had, that if applied here could have pulled this out,” he told me. And, he points out, “I had a guy who was willing to fund it.” That guy was Obama, of course.

Chrysler is leading the charge as U.S. carmakers are ranking up a great year in a so-so economy. GM is up 7% in sales in the last quarter and Ford up a healthy 14%. The Center for Automotive Research says that the industry, including foreign labels, could add as many as 167,000 jobs in the next few years. That’s good news for an economy with unemployment still near 9%. It won’t hurt the President’s reelection bid either.

Read more: How America Started Selling Cars Again | The Curious Capitalist |


Nitro Year: 2007 (1 of 91,815 sold in 07)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
rickaren is offline  
Sponsored Links
post #2 of 2 (permalink) Old 12-15-2011, 01:20 AM
Junior Member
Join Date: Nov 2011
Posts: 9
This thread made me think but still haven't found the answer.. great post.
alianaL is offline  
Sponsored Links

  Dodge Nitro Forum > Dodge Nitro News & Polls > Chrysler/Dodge/Jeep News

Quick Reply

Register Now

In order to be able to post messages on the Dodge Nitro Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Please enter a password for your user account. Note that passwords are case-sensitive.


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode

Similar Threads
Thread Thread Starter Forum Replies Last Post
Roger Penske fails selling smart cars rickaren Chrysler/Dodge/Jeep News 0 02-15-2011 01:19 PM
GM’s trial program selling cars on eBay set to end rickaren Chrysler/Dodge/Jeep News 0 10-01-2009 05:44 PM
Toyota selling most cars in clunker plan rickaren Chrysler/Dodge/Jeep News 0 08-18-2009 03:27 PM
Surprise: Chrysler does have hot selling cars! rickaren Chrysler/Dodge/Jeep News 7 05-16-2008 05:21 AM
Only 8% of Chrysler cars are sold outside North America rickaren Chrysler/Dodge/Jeep News 0 09-28-2007 06:34 AM

Posting Rules  
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

For the best viewing experience please update your browser to Google Chrome