Chrysler has No Plans to Sell Individual Brands
As it turns out, the gossip about Chrysler’s intent to sell off individual brands is false. Chrysler LLC President Tom LaSorda said that the company has no interest in sell off individual brands like Jeep. Although, it may be looking to sell off tooling for models going out of production, or licensing production of current models.
The rumors were quelled in a conference call today between LaSorda and reporters in response to supposed talks between Chrysler, Nissan and Magna about the sale of assets. LaSorda added that Chrysler is also not in talks to sell its plant in Belvidere, Illinois.
In addition, a sale of any kind would be the up to the automaker’s owner, Cerberus Capital Management. Before a sale could take place it would have to be approved by U.S. officials as part of the terms of Chrysler’s U.S. government bailout. Any sale above $100 million would require approval.