GM could absorb Chrysler and end its 83-years of existence

Continuing the GM/Chrysler saga, it is being reported that GM could absorb Chrysler LLC and end its 83 years of existence is one option being discussed by the General and Cerberus Capital Management which owns 88 percent of Chrysler.

The move would be similar to Chrysler’s 1987 acquisition of American Motors Corp and would give GM some of Chrysler’s 2.7 million in annual sales. Of course GM, Cerberus and Chrysler all declined to comment on the situation once again.

Many auto industry analysts believe that the move makes sense for GM to eliminate Chrysler as a competitor. Instead of letting it run as a separate division like Daimler did, Chrysler would be completely gone and GM will slowly work its way into its auto making and other operations.

Source: Detroit News