Chrysler, U.S (American) automotive company first integrated as Chrysler Company in 1925. The headquartered in Auburn Hills, Michigan (United States) and owned by Italian automaker Fiat. It was modernized and adopted its present name, Chrysler Group LLC, in 2009, and in 2014 it became a completely owned subsidiary of Fiat. It was for many years the 3rd largest (following the Ford Motor Company and General Motors Corporation) of the “Three Biggest” automakers in the U.S. In 2014, FCA US LLC is the 7th biggest automaker in the world by production.
The Chrysler automotive company was founded by Walter Chrysler. Out of what remained of the Maxwell Motor Company. Chrysler Corporation greatly expanded in 1928, as soon as it acquired the Dodge Brothers Company and the Fargo truck company and began selling vehicles under those brands; that same year it also established the Plymouth and DeSoto automobile brands.
The company expanded into Europe In the 1960, create the Chrysler Europe division, formed from the acquisition of British, French and Spanish companies. In the 1970s, a number of features including the 1973 oil crisis impacted Chrysler sale, and by the late 1970s, Chrysler Company was on the verge of bankruptcy, forcing it is retreat from Europe in 1979. Chrysler acquired American Motors Corporation (AMC) In 1987, which brought the profitable Jeep brand under the Chrysler umbrella.
In 1998, Chrysler group merged with German manufacturer Daimler-Benz AG to form Daimler-Chrysler the merger tested contentious with investors and Chrysler Company was sold to Cerberus Capital Management and in 2007 renamed Chrysler LLC. Like the other Big Three automobile manufacturers Chrysler was hit hard by the automotive industry crisis of 2008–2010.
Through a grouping of negotiations with creditors, filing for Chapter 11 bankruptcy reorganization on 30 April 2009, and participating in a bailout as of the United State government through the T.A.R.P. agenda, Chrysler Company managed to remain in big business. On 10 June 2009, Chrysler emerged from the bankruptcy proceedings with the United Auto Workers pension finance, Fiat SpA, and the United States and Canadian governments as main owners. The bankruptcy resulted in Chrysler Company defaulting on over $4 billion in debts. By May 2011, Chrysler finished repaying its obligations to the United State government 5 years early, while the cost to the American taxpayer was $1.3 billion. Over the next few years Fiat gradually acquired the other parties’ shares while removing much of the weight of the loans in a short period. On 1st January 2014, Fiat SpA announced a deal to buy the rest of Chrysler from the United Auto Workers retiree health trust. The deal was completed on 21st January 2014, making Chrysler Company a subsidiary of Fiat SpA, In May 2014, Fiat Chrysler Automobiles, NV be born by merging Fiat SpA into the group. This was finished in August 2014. Chrysler Company, LLC remained a subsidiary until December 2014, when it was renamed FCA US LLC, to reflect the Fiat-Chrysler group merger.