Under Cerberus Capital Management, Chrysler had decided to kill the slow-selling Chrysler Sebring and Dodge Avenger by the end of the 2010. The company had planned to close the Sterling Heights Mich., plant, where it builds the two models, by next year.
According to sources, Chrysler Group LLC has now decided to delay that plan until Fiat-based replacements arrive in 2012. Insiders say that Chrysler plans to refreshen the cars and keep them on the market until late 2012.
The Chrysler Sebring is expected to get an extensive face-lift in 2011, while a revamped Avenger will arrive sooner with little changes.
New CEO Sergio Marchionne presented his new 5-year product plan to Chrysler’s board on Friday. Full details will be disclosed in November.
– By: Kap Shah