In April of 2009, Chrysler, the nation's third largest car manufacturer, filed for Chapter 11 bankruptcy protection. Two years later, the revitalized company is showing signs of life.
In a little over two years Chrysler has paid back a substantial part of the government bailout. Chrysler has given its company a facelift that includes an alliance with Italian automaker Fiat and CEO Sergio Marchionne.
“The sales recovery has been quite good, but the recovery is far from over,” senior project manager at the Center for Automotive Research Bernard Swiecki said. The Center for Automotive Research is involved in the research of significant issues that relate to the future direction of the global automotive industry according to its website. “We certainly expected and still expect Chrysler to make a recovery, but it is happening at a faster pace than we anticipated.”
According to Swiecki, The arrival of Fiat and Sergio Marchionne at the time of the merger has given the company new direction and a new mindset. Products have been given facelifts and have been upgraded substantially according to Swiecki, who mentioned the upgraded Sebring, which is now the 200. Swiecki said a Fiat based car is still in the works and he expects it do very well in America. The last time a new Fiat car was sold in America was 1983.
No comments:
Post a Comment