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Chrysler Reviewing Three Offers For Viper

February 03, 2009: 04:29 PM ET

DETROIT Chrysler LLC Vice Chairman Jim Press said Tuesday the auto maker is conducting due diligence on three offers for its hot-rod Dodge Viper brand.

Press said it is unlikely that a Viper sale will be concluded before the auto maker submits its viability plan to the U.S. government on Feb. 17.

Chrysler announced last year that it was selling the brand as part of a plan to cut about $1 billion in costs. The Viper, which went into production in 1992, injected a tough and fast feel into the Dodge brand with its V-10 engine.

Ford Motor Co. (F) is also looking to sell its Volvo Cars unit while General Motors Corp. (GM) is still looking for a buyer for its Hummer brand.

LINK:Chrysler Reviewing Three Offers For Viper
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