Chrysler seeks more financial aid from government

Filed in Business , News , Popular 5 comments

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With the economy in such turmoil, everyone is asking government for help and another addition to this list is Chrysler LLC. With the firm urging its dealers to ask the Treasury Secretary to give more aid to the company, it is evident that Chrysler LLC needs government’s support to function. With already $4 billion as federal loans in its kitty, the company wants $5 billion by March end but unfortunately for the firm there has been no signs regarding the grant of request from the Treasury.

It seems Chrysler really requires the aid, as since last week it has increased its appeals for it. Robert Nardelli, Chief Executive of the firm, has said in many interviews that the company can manage on its own, not requiring the alliance with Italy’s Fiat SpA, if it gets more government loans.

Chrylser LLC is taking every step possible to get the grant. It is reported that the firm sent a sample letter that it wants the 3200 dealers to send to the Treasury asking for aid. Another way Chrysler is using to save itself is through a possible alliance with Fiat which is supposed to provide small cars and engines which Chrysler can build and sell in US. In return, Fiat will have 35% ownership of Chrysler.

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Posted by admin   @   21 March 2009 5 comments

5 Comments

Comments
Apr 14, 2009
7:56 pm

Im not surprised. Car companies are having some serious problems ever since economic problems have started taking tolls on large companies. Especially the recent problem with high gas prices, the after effect is ruining the motor vehicle business.

Sep 5, 2009
8:06 am

Great site and nice article really like what its talking about, I will be linking back to your site from mine.

Sep 22, 2009
6:27 pm
#3 aid credit :

Thanks for sharing and introducing me this

Nov 16, 2009
10:18 pm

This is such an important topic, I wish more people would write about it, not just spamming other people’s ideas. Researched content is hard to find on the Internet these days.

Nov 20, 2009
6:18 pm

Very cool! Glad I found this post. I wanted to say hello and thanks for posting such good stuff. – Josh ~ AMS

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