Chrysler to File for bankruptcy!

Hintza

DETROIT/WASHINGTON (Reuters) 30 April 2009 - Chrysler LLC is expected to file for bankruptcy on Thursday (today) after talks to restructure its debt with lenders broke down, a U.S. government official said. Despite intense negotiations over the past few weeks, Chrysler failed to gain the full support from its lenders that it needed to move forward with a restructuring and avoid the first-ever bankruptcy filing by a major U.S. automaker.

Now if you want a great car have a look on the deals for the 300C V6 VRD. This comes with the old Mercedes S Class engine and gearbox and in my view is a superb powertrain.

http://www.honestjohn.co.uk/best_deals/item.htm?id=6103

goldspanners

did fiat not just sign a deal with them today? or was i hearing things?

Hintza

goldspanners wrote: »

did fiat not just sign a deal with them today? or was i hearing things?

Something is going on with Fiat but perhaps the price isn't right yet.

Lemonade_Pockets

Fiat will probably be taking a 30% stake in them regardless of bankruptcy proceedings.

They are waiting for Chysler to sort out their debts first, i don't think they really care which way they do it. In some ways if the bondholders don't all agree by the close of business today, it might work out better for fiat under a chapter 11 filing.

This is in return for fiat providing small car platforms and engines for Chrysler to use. No money is exchanging hands

asbokid

I wondered whether we could pick up a good deal when MG Rover collapsed in an unedifying heap of debt in April 2005.

The entire dealership network went down with Rover and the collapse of the car maker forced a host of parts suppliers into bankruptcy as well.

Obtaining spare parts for a Rover suddenly became very difficult.

We figured that buying a Rover really wasn't worth the grief.

Rover was British. The situation with spares and servicing for Chryslers will be loads worse since it's a minor marque outside North America.

Sales of Chryslers in Europe accounted for just 7% of the group's overall car sales last year.

Avoid, IMO.. unless you can get a Two-For-One deal out of the Chrysler administrators, and keep the second car in the shed as a donor for spare parts!

Lemonade_Pockets

Here we go

http://news.bbc.co.uk/1/hi/business/8027109.stm

AdrianHi

They have filed for bankruptcy protection so not actually bankrupt... yet.
Fiat need access to North America, Chrysler haven't got a clue how to build fuel efficient and typically smaller cars.
A match made in purgetory then :rotfl:

motorguy

irrespective, they wont go 'bankrupt'.

Its a tactic to wipe clean their debts, so that Fiat can sweep in.

jaydeeuk1

I'd love to get the 300c, shame the petrol engines are pretty poor - can't stand deeezel engines even though one this really good. Also quite like the crossfire but wife already has a 2 seater....

Hintza

jaydeeuk1 wrote: »

I'd love to get the 300c, shame the petrol engines are pretty poor - can't stand deeezel engines even though one this really good. Also quite like the crossfire but wife already has a 2 seater....

Jay you would not mind that Diesel engine, it was my first and I must say it has great torque (which all Diesels have of course) and a good top end. You will get 26-30mpg from it as well which is pretty good in a big heavy car. So don't let it put you off.

asbokid

pgilc1 wrote: »

irrespective, they wont go 'bankrupt'.

Its a tactic to wipe clean their debts, so that Fiat can sweep in.

i can imagine the administrators will order the "New Chrysler" to "rationalize" its overseas interests.. perhaps by merging the fiat and chrysler dealerships and parts distributors elsewhere in the world.. They are already sparse and poorly represented in the UK..