Chrysler downsizes yet again – one quarter of salaried, supplemental jobs to go by 2009

Chrysler downsizes yet again – one quarter of salaried, supplemental jobs to go by 2009

Chrysler CEO Bob Nardelli announced that Chrysler would reduce its salaried and supplemental workforce beginning in November 2008.  According to Michigan congressional aides quoted in <i>Detroit News</i>, a full quarter of the salaried employees will be cut by January 1, including involuntary layoffs and buyouts. In additional, capital spending will be slashed.  This is in addition to previously announced moves.  Details will be made available in the next two weeks.

Read the full story: Chrysler downsizes yet again – one quarter of salaried, supplemental jobs to go by 2009  »


Daimler pegs Chrysler Q2 losses at nearly $2.26 billion

Daimler pegs Chrysler Q2 losses at nearly $2.26 billion

According to Daimler AG figures released today, Chrysler lost about $2.26 billion in the second quarter. That figure is derived from Daimler’s International Financial Reporting Standards (IFRS) results with an  adjustment for the euro and Daimler’s 19.9 percent share.

In the world according to GAAP, Chrysler says its net loss was about $489 million on its automotive operations, which may not cover any losses at Chrysler Financial.

Chrysler attributes the difference of over a billion dollars to the differences between IRFS and the Generally Accepted Accounting Principles (GAAP) methods and to Daimler making over $592 million worth of adjustments the Detroit automaker says are not related to Chrysler Holdings LLC.

Read the full story: Daimler pegs Chrysler Q2 losses at nearly $2.26 billion  »


Phoenix engine project continues – death exaggerated

Phoenix engine project continues – death exaggerated

Two separate sources have now written in to say that the Phoenix V6 engine series (which could eventually yield four and eight cylinder engines as well) is alive and well. One source wrote: “The Phoenix engine engineering and manufacturing teams remain highly active, putting in long days and managing 24 hr development and validation testing, progressing towards the goal of volume production launch in the not-too-distant future. The team is well aware of all the recent scuttle rumoring the idling or demise of Phoenix,

Read the full story: Phoenix engine project continues – death exaggerated  »


Rumor: Phoenix V6 engine cancelled? (Rumor rejected)

Rumor: Phoenix V6 engine cancelled? (Rumor rejected)

Update: development of the engines is continuing at full speed. It may be that one of the factories slated to make components for the engines has been replaced by an outside supplier or by another facility. An earlier rumor based on a factory worker’s report suggested that the Phoenix program itself had ended; this is now known to be untrue.

Read the full story: Rumor: Phoenix V6 engine cancelled? (Rumor rejected)  »


Chrysler Aspen, Dodge Durango hybrids get best gas mileage in class

Chrysler Aspen, Dodge Durango hybrids get best gas mileage in class

2009 EPA gas mileage for the Chrysler Aspen Hybrid and Dodge Durango Hybrid are 20 miles per gallon city and 22 mpg highway, best in the full-size 4×4 sport-utility vehicle class. The hybrid system uses the Hemi V8, producing 400 horsepower and 380 lb-ft of torque when coulpled with the electric motor. The twin SUVs are around $8,000 cheaper than the GM vehicles using a similar system, and may be eligible for a tax credit of over $2,000.

Read the full story: Chrysler Aspen, Dodge Durango hybrids get best gas mileage in class  »


Detroit News: Cerberus started shopping Chrysler months ago

Detroit News: Cerberus started shopping Chrysler months ago

The Detroit News is reporting Cerberus started looking for a buyer for Chrysler less than a year after the holding company bought the automaker from Daimler. Recent discussions with General Motors are just the latest in Cerberus’ efforts to shop its car company. Earlier negotiations have included Renault-Nissan, Fiat and Tata Motors of India, which acquired Jaguar and Land Rover from Ford last year.

As reported earlier, the discussions with GM,

Read the full story: Detroit News: Cerberus started shopping Chrysler months ago  »


Dodge fixes specs, upgrades police-edition Charger

Dodge has re-released its power figures on the 2009 Dodge Charger squad cars, raising the specifications to 368 horsepower and 390 lb-ft of torque. The gearing has reportedly been modified for better gas mileage, currently rated at 16 city, 25 highway, with cylinder deactivation; acceleration should be similar to the 2008 models. Numerous engine improvements were designed to increase durability, while the brakes have again been modified for longer life in police service.

Read the full story: Dodge fixes specs, upgrades police-edition Charger  »


Chrysler reports 33% decline in U.S. sales for October 2008

Chrysler LLC today reported total September 2008 U.S. sales of 107,349 units, down 33 percent from the same period last year. Total September sales reflect a highly volatile economic environment, ongoing segment shifts and reduced fleet and lease volume.

Chrysler LLC’s minivan sales thrived in September based on their appeal as fuel efficient, multi-passenger vehicles. Compared with September sales in 2007, the Chrysler Town & Country achieved a 6% increase with sales of 9,229 units,

Read the full story: Chrysler reports 33% decline in U.S. sales for October 2008  »



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