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Chrysler sold in £3.76 billion deal

By Ben Whitworth Motor Industry 17 May 2007 09:38 Chrysler has been sold. In one of the biggest private equity deals seen in the automotive industry, Cerberus Capital Management has purchased 80.1% of Chrysler in a £3.76billion deal, leaving DaimlerChrysler with the remaining 19.9% stake in the loss-making company. The move marks the close of arguably the most high-profile transatlantic merger and shuts the door on Canadian car assembly giant Magna and billionaire Kirk Kerkorian, who last month offered £2.27billion for Chrysler.

GM, Chrysler sales fall more than 40 percent; Ford, Honda also slip

The biggest automakers posted some of the sharpest U.S. sales declines in September as demand dropped to its lowest level since April in the aftermath of the cash-for-clunkers program. The seasonally adjusted annual sales rate was 9.51 million units.

Forecasters see slow auto-sales recovery through 2011

U.S. auto sales in 2010 and 2011 will continue to crawl -- not walk or run -- out of last year's recession, according to forecasters at the Auto Industry Hot Topics Conference here. “It's going to be a long crawl out of this, but we're crawling in the right direction,” said David Wyss, chief economist for Standard & Poor's, which co-sponsored the conference along with J.D.