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Chrysler LLC is an American automobile manufacturer that has been producing automobiles since 1925 and from 1914 under the Dodge name. more...

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From 1998 to 2007, Chrysler and its subsidiaries were part of the German based DaimlerChrysler (now Daimler AG) after an arduous deal falsely sold to stakeholders as a "Merger of Equals" in 1998. Prior to 1998, Chrysler Corporation traded under the "C" symbol on the NYSE. Under DaimlerChrysler, the company was named "DaimlerChrysler Motors Company LLC", with its U.S. operations generally referred to as the "Chrysler Group".

On May 14, 2007 DaimlerChrysler AG announced the sale of 80.1% of Chrysler Group to American private equity firm Cerberus Capital Management, L.P., although Daimler continues to hold a 19.9% stake. Chrysler LLC is the new name. The deal was finalized on August 3, 2007.

After the announcement of the spin-off to Cerberus, the Chrysler LLC, or "The New Chrysler", unveiled a new company logo on August 6, 2007 and launched its new website with a variation of the previously used Pentastar logo. Robert Nardelli also became Chairman and CEO of Chrysler under the ownership of Cerberus. Chrysler is now the largest private automaker in North America.

History

Founding and early years

The company was founded by Walter P. Chrysler on June 6, 1925, when the Maxwell Motor Company was re-organized into the Chrysler Corporation.

Walter Chrysler had originally arrived at the ailing Maxwell-Chalmers company in the early 1920s, having been hired to take over and overhaul the company's troubled operations (just after having done a similar rescue job at the Willys car company).

In late 1923 production of the Chalmers automobile was ended.

Then in January of 1924 Walter Chrysler launched the well-received Chrysler automobile. The Chrysler was a 6-cylinder automobile, designed to provide customers with an advanced, well-engineered car, but at a more affordable price than they might expect. (Elements of this car are traceable back to a prototype which had been under development at Willys at the time that Walter Chrysler was there).

The Maxwell was then dropped after its 1925 model year run, although in truth the new line of lower-priced 4-cylinder Chryslers which were then introduced for 1926 were basically Maxwells which had been re-engineered and rebranded.

It was during this period that Walter Chrysler assumed the presidency of the company, with the company then ultimately incorporated under the Chrysler name.

Read more at Wikipedia.org