What year did Chysler purchased Mercedes Benz, and how long after did it sel it. Who purchased Mercedes corporation.
When did Chrysler sell Mercedes Benz company and to who/?
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What year did Chysler purchased Mercedes Benz, and how long after did it sel it. Who purchased Mercedes corporation.
in 1998 Mercedes bought the major controlling percentage of the Chrysler corporation, who was at the time very profitable. The main thing Mercedes wanted (besides forming a dominant world car company but thats a huge story i dont want to go into again) was the Mini-vans, the best all around minivans in the world, and the sales would back that claim. After a decade of money embezzlement by executives, bad business decisions (mainly buying Mitsubishi, another long story), and a down economy, Mercedes sold Chrysler to Cerberus Financial in 2007. Cerberus squandered and took even more operating money from Chrysler and let the company go in 2009 when Chrysler filed for chapter 11 bankruptcy and re-organized as a new company, that was immediately sold to Italian auto giant Fiat (the move was expected and organized as part of the bankruptcy). Fiat sells cars in more countries around the world than any other car maker on the planet, and is a leader in innovation and technology in the international auto segment. They were basically dead in the early 1990′s and then Sergio Marchionne took over as CEO and literally turned the company around in just a few short years. He plans to due the same thing with Chrysler, and has already began a large campaign to change the way a lot of things are done. The future looks pretty bright thanks to Sergio’s planning.