Chrysler Denies Renault Negotiations

American automaker Chrysler today issued a public statement denying recent reports claiming it is discussing the possibility to sell one of its brands. In short terms, Chrysler explained that it does not intend to sell Jeep or any other brand it currently owns and negotiations with French carmaker Renault are only press speculation. However, the company admits that it still aims to sell non-earning assets, but no buyer has been found yet.

A Reuters report published yesterday and quoting sources familiar with the Chrysler – Renault discussions claimed the American automaker may be interested in selling Jeep, one of the struggling brands that were seriously affected by the global economic downturn. Renault's Frederique Le Greves denied the report, saying that “Renault denies it is holding any talks with Chrysler.”

Here is the complete statement published by Chrysler LLC Vice Chairman and President Tom LaSorda:

1. Chrysler is not in discussions to sell the Jeep brand. We have said many times that the Jeep brand is not for sale. Nor are any of our other brands. We will not separate our brands from the Company.

2. While we have said we are seeking to sell non-earning assets, we do not have any buyers for vehicle tooling and are not in discussions with any Chinese, Japanese or Korean companies regarding assets or tooling. While it would be difficult, we would consider licensing an existing platform.

3. We are not in discussions to sell our Belvidere Assembly Plant. We have talked to Magna about partnering with Russian carmaker GAZ to build cars in Russia, but those talks are on hold due to the U.S. and Russian economic downturn.

4. We are not in discussions with Renault. We are not in discussions with Nissan beyond the already announced vehicle programs.