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Viper to survive!!! |
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Jul 10, 2009 - 3:43 PM - by RapidTransit
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Dodge Viper SRT10 Will Live On Auburn Hills, Mich., Jul 10, 2009 -
Chrysler Group LLC announced today that production will continue for the legendary Dodge Viper SRT10.
Originally slated to cease production in December 2009, the Chrysler Group Connor Avenue Assembly Plant -- the exclusive home of Dodge Viper production since 1995 -- will continue to build the V-10 powered sports car. Chrysler Group is no longer pursuing a sale of the Viper business assets.
“The Dodge Viper has successfully captured the hearts and imagination of performance enthusiasts around the globe,” said Mike Accavitti, President and Chief Executive Officer, Dodge Brand. “We’re extremely proud that the ultimate American-built sports car with its world-class performance will live on as the iconic image leader for the Dodge brand. “
Introduced as a concept car in 1989 at the North American International Auto Show in Detroit, the Dodge Viper was designed and engineered to test public reaction to the concept of a back-to-basics, high-performance, limited production sports car.
The reaction was so overwhelming that customer orders began to flow in even before the auto show was over. Chrysler Corporation immediately decided to determine the production feasibility on transforming the crowd-pleasing Dodge Viper show car into a limited-production sports car in no more than three years.
In May 1990, after months of intensive study and testing, Chrysler Corporation announced that the Dodge Viper, powered by an aluminum V-10 was a “go.”
Dodge Viper production began in May 1992 at the New Mack Assembly Plant and was moved to Conner Avenue in October 1995. Viper V-10 engine production transferred from Mound Road Engine to Conner Avenue Assembly in May 2001. In 2008, Dodge introduced the all-new, fourth generation... [Read More]
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0 Replies | 51 Views
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Chrysler and Fiat make it official |
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Jun 10, 2009 - 9:56 AM - by RapidTransit
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Automaker sells itself to new owners, including Italian automaker, the UAW and the U.S. and Canadian governments.
NEW YORK (CNNMoney.com) -- Chrysler and Italian automaker Fiat on Wednesday officially signed a strategic alliance brokered by the U.S. government, after the Supreme Court cleared the path for the deal late Tuesday. Fiat will initially take a 20% stake in the company, which can go up to 35% if it reaches certain goals. "This is a very significant day ... for the global automotive industry as a whole," said Sergio Marchionne, Fiat's chief executive who was named the CEO of Chrysler on Wednesday. "From the very beginning, we have been adamant that this alliance must be a constructive and important step towards solving the problems impacting our industry."
The deal formed a new company, called Chrysler Group LLC, after the former Chrysler LLC sold nearly all of its assets -- except for some debts and liabilities -- to the new firm. Chrysler Group is mostly owned by the United Auto Workers union (a 55% stake) and will give minority stakes to governments: 8% for the United States and 2% for Canada. Fiat will not be allowed to take a majority stake until the new Chrysler pays back the $15.5 billion lent to it from the Treasury Department. Chrysler's new board will consist of three Fiat directors, four representing the U.S. government, one from the UAW and one from the Canadian government. The company said it expects to name former Borden Chemical and Duracell chief executive as its chairman. Marchionne said the Chrysler plants that had been shuttered as a result of the company's bankruptcy process will be back up and running "soon," and the company will focus on... [Read More]
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0 Replies | 160 Views
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