Chrysler Got Three Offers for Viper

Chrysler received three offers for its Viper business, co-President Jim Press was quoted as saying by, but the matter is being look at with “due diligence.” The company first announced its plans to sell the Viper last August. The idea is part of the American car builder's $1 billion cost reduction plan put in place in order to avoid total collapse. No mention was made regarding the possible buyers' identities or the sum of money proposed by them for the buyout.

It is, however, unlikely the company will manage to sell off the Viper brand until the 17th of February, when the company is expected to submit its crisis action plan before a US Government committee. "We don't anticipate it will be done by then," said Press, according to Autonews, referring to a possible sale by the March 31st, the deadline set by the US Treasury for the long term viability plan presentation.

January 2009 brought Chrysler to its knees, as it recorded a 55 percent decrease in sales, compared to January 2008, the biggest fall of all US automakers. The company still hopes to get over these uncertain times, as aid is promised from all over the market.

Fiat's CEO, Sergio Marchionne, detailed yesterday parts of the future Chrysler-Fiat alliance, and stated that the Italian part will help their American counterpart “for free”. Chrysler LLC already received the first $4 billion installment of our $7 billion bridge loan from the U.S. Treasury in early January. The company hopes to get a second loan after the February deadline.
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About the author: Daniel Patrascu
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Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
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