An American-based automaker, its current headquarters is in Auburn Hills, Michigan.
Short History of the Chrysler
The company was founded by Walter Chrysler has originated from Maxwell Motor Company when the company was reorganized. Walter Chrysler came to the company during its lowest point; it gave birth to the now well recognized Chrysler automobile corporation. Its first product was a 6 cylinder car with exceptional innovations packed in it. Some of these developments were its hydraulic brakes which were chiefly developed by Chrysler himself but improved by Lockheed. He was also known for designing the ridges of the rims in the wheels which prevented flat tires from coming from the wheel. This was subsequently adapted by most of automobile companies globally. Additionally, what made the automobiles of Chrysler customer friendly was due to the astonishingly low reasonable price.
In the year 1928, Chrysler began segregating its automobiles according to their functions in addition to price. The Plymouth was created to function low-priced automobiles. The DeSoto, back then was made to sell medium-priced cars. Additionally, the Dodge automobile business was bought from the Dodge brothers to serve with high-priced cars.
Another brand branch, the Imperial, was used to compete with specific top-of-the-line companies like Cadillac and Lincoln. It primarily made cars with V8 engines and automatic transmission. But, in 1973 Imperial was consumed by Chrysler Corporation. Also, the brand Valiant was introduced in the 1960s. This was formerly a version of the Plymouth, and then the DeSoto made it also.
Jeep was acquired from them; this brand served off-road vehicles, pickup trucks, as wells as SUVs.
The Daimler- Chrysler Merger
In the year 1997, Chryslers then CEO Bob Eaton left a speech that would have consisted of a few of the very worrying words.” … there may be a perfect storm brewing” this phrase caught the eye of each employee and team in the auditorium. He figuratively stated that there was a cold front of overcapacity; a nor’easter that conveyed retail revolution which empowered buyers; and a hurricane that represented a growth in the environmental awareness that consequently threatened the industry of search motors. These statements were taken by Eaton in the book”The Perfect Storm”, he also said that the lesson of this book told him that when there’s a storm coming, you must nowhere near the storm area, and you must not be lonely. These were the wise words Bob Eaton uttered in front of the crowd.
Another automobile company, Damier-Benz, was also struggling in the U.S. Only 1% of cars in the United States belong to the company at that time. The provider’s CEO decided they need to find another company to merge with. And the perfect match they found was Chrysler Corporation.
After some time, and a great deal of discussions and business meetings, Bob Eaton announced they were merging with Damier-Benz. Nearly reaching $37 billion, this was the largest trans-Atlantic merger ever made. Jürgen Schrempp, Damier-Benz’s CEO coined the term”merger of equals” as they and Chrysler shared the same hardships during that time, and that it would be of an advantage if the merger materialized.
However, as time passed by, the merger was demonstrated to be a failure. Chrysler was dissatisfied with the new company’s performance and its fair profit. Particular differences arose with the managers of both companies. They would throw words at each other; many Daimler-Benz executives stated they would never drive a Chrysler; while Chrysler managers uttered that the Jeep Grand Cherokee earned more than the Mercedes M-Class.
The president of Chrysler throughout the calendar year 2000 described this feud as a’marrying up, marrying down’ situation. The firm Damier- Benz was mostly recognized by its own luxury cars and was considered as a business that sells fancy and trendy cars; while the Chrysler were especially made for moderate to low level cars. This idea created an invisible tension between the American and the German employees of the merged company. Many German staffs would even argue that they were being given a salary less than the Americans were getting; they even described the salary of the counterparts as 4 times bigger than theirs. Even Chrysler’s CEO Bob Eaton eventually succumbed to the situation and began showing signs of withdrawal and depression; he would not speak to his employees when requested to, or would not initiate motivation when needed.
Chrysler Now – A Comeback
Today, Chrysler has performed well in the automotive sector. It’s been ranked by the International Organization of Motor Vehicle Manufacturers as 2010s 13th biggest vehicle manufacturers in the whole world.
During the World War II, Chrysler has also fabricated several vehicles and other goods to best serve the U.S. military. They made exceptional Chrysler tanks in contrast to Ford or General Motors. They also made engines for planes such as jet engines. Missiles were also manufactured through their company such as the medium- range ballistic missile named PGM-19 Jupiter.
With its new tagline”Imported from Detroit”, Chrysler offers many advanced cars that would serve not just Americans, but everybody. Now, Chrysler still serves not only the U.S. community, but also the different states that appreciate the long history of the automobile company. With its ups and downs, it was able to survive many economic busts and depressions. Chrysler has definitely established its foundations; and it is going to definitely be staying in the auto industry for several years.