Chrysler
Chrysler Portal Concept at CES 2017: Next-generation Family Transportation Designed by Millennials for Millennials.
Forward-thinking interpretation of the “fifth generation” of family transportation focused toward the millennial generation
Designed from the inside out, the interior offers the driver and passengers a “third space” – an open and serene atmosphere that bridges work and home.
Forward-thinking interpretation of the “fifth generation” of family transportation focused toward the millennial generation
Designed from the inside out, the interior offers the driver and passengers a “third space” – an open and serene atmosphere that bridges work and home.
Recent History .
Chrysler is an iconic automative brand that is known as an American luxury auto company. Since the early 1920's, Chrysler has stayed competitive within the Auto Industry, and still to this day remaining in the top three American auto companies to ever exist. What makes Chrysler stand out is its great composition in the way that all vehicles are structurally built with a sleek luxurious feel to them as well making them comfortable and feeling brand new. Chrysler is a company that creates a unique design with a purpose.
In recent history, Chrysler released the brand new Chrysler 300C in 2005, making a great breakthrough in the auto industry by introducing a brand new vehicle that has been repeatedly redesigned since 1955, and remaining profitable to this day. According to the Chrysler official website page, "When it was launched in 2005, the stunning 300C turned the eyes of the automotive world back to Detroit." It doesn't stop there though. Chrysler has also vamped up its well-established PT Cruiser and reinvented the minivan by collaborating with the inventors of the actual minivan itself. The increased their ongoing technology and safety features especially. Chrysler deems to be proud of its Detroit roots. Just in recent years, Chrysler's Super Bowl commercials launched a new ad that is widely recognized under a series entitled Imported from Detroit®. Chrysler also recently has invested close to a billion dollars into Sterling Heights, Michigan manufacturing plant for their launch of their 2015 Chrysler 200, which debuted in January of 2014. "The Chrysler brand, with its ambitious American ingenuity, continues to stand for substance and style. At its core are the hallmarks of quality, design, craftsmanship, performance, efficiency, innovation and technology, all at a very affordable price." - Chrysler Official Website |
2005 Silver Chrysler 300C
2015 Grey Chrysler 200
|
Auto Industry Crash.
From 2008 - 2010, the auto industry took a turn for the worse. Auto companies from both the United States and other European and Asian countries fell victim to a terrible financial crisis during this time, one of them being Chrysler. Beginning in about 2003 and leading up to 2008, fuel and energy prices began to skyrocket, making the American people want to drive less to save more, meaning people not buying cars nearly as much as before, and these companies losing a severe amount of money. The production of sport utility vehicles (SUVs) and pickup trucks was the main "bread and butter" for these companies. Unfortunately though, these vehicles were not fuel efficient causing people to steer away from purchasing a vehicle like those. The market for fuel efficient cars was potentially there, but not many companies had invested much into a market like this, which then in turn caused a major crash in the auto industry during a time where the American economy was already in a plummeting recession.
As for Chrysler, Chrysler received the smallest bailout of the Big Three. According to The Balance's article entitled Auto Industry Bailout (GM, Chrysler, Ford), On January 16th, 2009 the Treasury Department of the Government approved Chrysler Financial for a $1.5 billion loan. In addition, Chrysler promised to pay the government $75 million in notes and reduce executive bonuses by 40%. On April 30th, 2009, Chrysler officially filed for bankruptcy and were lent $6 billion from the Treasury once again. Because of this, Chrysler was now partially owned by other people. 58.5% of the company was owned by Fiat S.p.A. of Italy, and the remaining was owned by the United Auto Workers Retiree Medical Benefits Trust. As a result of the bankruptcy as well, Chrysler unfortunately had to do major cuts in wages and jobs, forcing them to close many underperforming dealerships.
Today, Chrysler is in a much better financial position than it once was, but also at the cost of the tax payer. Thankfully under former President Barack Obama's charge, Chrysler was able to come out of this terrible financial crisis, but unfortunately at the tax payers' cost. In total, Chrysler alone cost the United States taxpayers $1.3 billion, not to mention the other auto companies that cost them as well. As of May 2011, Chrysler though has repaid $11.2 billion in TARP loans bringing them 6 years ahead of schedule. In 2013, the CEO of Fiat bought the remaining part of Chrysler with a plan to merge the two companies and take it to a global market, as well as changing their official name to Fiat Chrysler Auto Company.
As for Chrysler, Chrysler received the smallest bailout of the Big Three. According to The Balance's article entitled Auto Industry Bailout (GM, Chrysler, Ford), On January 16th, 2009 the Treasury Department of the Government approved Chrysler Financial for a $1.5 billion loan. In addition, Chrysler promised to pay the government $75 million in notes and reduce executive bonuses by 40%. On April 30th, 2009, Chrysler officially filed for bankruptcy and were lent $6 billion from the Treasury once again. Because of this, Chrysler was now partially owned by other people. 58.5% of the company was owned by Fiat S.p.A. of Italy, and the remaining was owned by the United Auto Workers Retiree Medical Benefits Trust. As a result of the bankruptcy as well, Chrysler unfortunately had to do major cuts in wages and jobs, forcing them to close many underperforming dealerships.
Today, Chrysler is in a much better financial position than it once was, but also at the cost of the tax payer. Thankfully under former President Barack Obama's charge, Chrysler was able to come out of this terrible financial crisis, but unfortunately at the tax payers' cost. In total, Chrysler alone cost the United States taxpayers $1.3 billion, not to mention the other auto companies that cost them as well. As of May 2011, Chrysler though has repaid $11.2 billion in TARP loans bringing them 6 years ahead of schedule. In 2013, the CEO of Fiat bought the remaining part of Chrysler with a plan to merge the two companies and take it to a global market, as well as changing their official name to Fiat Chrysler Auto Company.
Where Chrysler Is Headed.
|
Chrysler always has plans to do things bigger and better than its competitors. Chrysler released their financial sales plan for the next two years showing that their focus will be geared towards technology and SUVs and trucks, combing these two aspects together to be economically fuel-friendly vehicles creating more hybrid options as well. Their focus also will be on their Town & Country minivan, having a plug-in hybrid version as well.
Chrysler has spelled out in their financial plan that their global sales growth will be the same, if not more, in 2018 as 2005. The charts to the right are directly from their financial sales plan. You can find more information as well about their plan on the link attached above. The final aspect that Chrysler plans for the future is to possibly stray away from the luxury brand and create a more functional everyday kind of brand to allow customers to feel more comfortable in purchasing their vehicles, but this information has not been officially stated yet. |