this is one of the big three American
automakers welcome to watchmojo.com and
today we’ll be learning more about the
history of Chrysler founded on June 6
1925 by Walter P Chrysler this automaker
traces its origins to the Maxwell Motor
Company the Chrysler Corporation entered
the market as innovators and early cars
included features not yet available on
many brands the company is also credited
with releasing the first four-wheel
hydraulic brake system in mass-produced
cars along with other safety features
that were eventually embraced by the
entire auto industry 1928 Sauk Chrysler
introduced new brands Plymouth is one
example and it fit into the low price
segment Chrysler also bought the
existing dodge car and truck company and
launched a truck line
soon after the company created a parts
and service division called Mopar these
moves helped make the company a mainstay
on the American auto scene by the 1930s
during World War two the American Big
Three automakers were instrumental in
helping the US military and Chrysler
took on a number of defense contracts
during that time following that was a
period of progress at Chrysler in the
50s and 60s along with their 300 coupes
Chrysler produced a number of other
high-performance cars including the
Imperial LeBaron and the Dodge Charger
Chrysler continued to splinter the brand
and in 1955 they introduced the Imperial
marque to cater to the luxury division
five years later valiant was made a
separate label to accommodate lower
priced cars and it remained distinct
until 1976 one famous valiant model was
the Plymouth Barracuda pony car that was
first released in 1964 in 1973 the oil
crisis hit and greatly affected American
automakers by the late 70s
Chrysler’s still did not feature
competitive compact or fuel-efficient
cars in the lineup and was hemorrhaging
money due to a number
recalls a company was close to failure
when it was decided that recently fired
Ford President Lee Iacocca would join as
CEO by 1979 Iacocca realized the company
would fail if it did not receive a large
influx of funds after reducing his own
salary to $1 he approached the United
States Congress to ask for a 1.5 billion
dollar bailout it was signed into law on
January 7th 1980 and Chrysler gradually
recovered the company repaid the loan
with interest by 1983 but not before it
introduced such enduring models as the
kei car line Dodge Aries Plymouth
reliant and the Dodge Ram in 1981
Iacocca’s next triumph came in 1983 when
he helped create the modern minivan by
introducing the Plymouth Voyager and the
Dodge Caravan
he had also become the face of the
company after appearing in a number of
ads where he promoted Chrysler’s
american-made cars in 1987 Chrysler took
over the Jeep brand when they bought the
American Motors Corporation the company
also acquired Italian automaker
Lamborghini that year although it was
sold in 1994 it was around this time the
Chrysler partnered with Mitsubishi to
create Diamond star Motors while the
Japanese automaker bought out Chrysler
stake in 91 diamond star did help
Chrysler move into the subcompact market
with Iacocca’s turnaround of the company
complete he retired in 1992 in 98
Chrysler merged with Daimler Benz to
form diamond
the company struggled for a few years
and was even forced to shut down the
Plymouth brand by 2001 things were
improving on the strength of models like
the Dodge Magnum however that turnaround
was short-lived and by 2007 Chrysler was
sold to private equity firm Cerebrus
Capital Management things continued to
spiral downward by the end of 2008 the
US government was forced again to loan
funds to Chrysler to keep the company
afloat Chrysler filed for chapter 11
bankruptcy protection in April the next
year
shortly after Italian automaker Fiat
took over a significant
take in the company a sales increase
followed and Chrysler’s lineup went
through a complete overhaul leading up
to 2012 with this initiative in mind
Chrysler lived up to its reputation as a
pillar of the automotive industry
automakers welcome to watchmojo.com and
today we’ll be learning more about the
history of Chrysler founded on June 6
1925 by Walter P Chrysler this automaker
traces its origins to the Maxwell Motor
Company the Chrysler Corporation entered
the market as innovators and early cars
included features not yet available on
many brands the company is also credited
with releasing the first four-wheel
hydraulic brake system in mass-produced
cars along with other safety features
that were eventually embraced by the
entire auto industry 1928 Sauk Chrysler
introduced new brands Plymouth is one
example and it fit into the low price
segment Chrysler also bought the
existing dodge car and truck company and
launched a truck line
soon after the company created a parts
and service division called Mopar these
moves helped make the company a mainstay
on the American auto scene by the 1930s
during World War two the American Big
Three automakers were instrumental in
helping the US military and Chrysler
took on a number of defense contracts
during that time following that was a
period of progress at Chrysler in the
50s and 60s along with their 300 coupes
Chrysler produced a number of other
high-performance cars including the
Imperial LeBaron and the Dodge Charger
Chrysler continued to splinter the brand
and in 1955 they introduced the Imperial
marque to cater to the luxury division
five years later valiant was made a
separate label to accommodate lower
priced cars and it remained distinct
until 1976 one famous valiant model was
the Plymouth Barracuda pony car that was
first released in 1964 in 1973 the oil
crisis hit and greatly affected American
automakers by the late 70s
Chrysler’s still did not feature
competitive compact or fuel-efficient
cars in the lineup and was hemorrhaging
money due to a number
recalls a company was close to failure
when it was decided that recently fired
Ford President Lee Iacocca would join as
CEO by 1979 Iacocca realized the company
would fail if it did not receive a large
influx of funds after reducing his own
salary to $1 he approached the United
States Congress to ask for a 1.5 billion
dollar bailout it was signed into law on
January 7th 1980 and Chrysler gradually
recovered the company repaid the loan
with interest by 1983 but not before it
introduced such enduring models as the
kei car line Dodge Aries Plymouth
reliant and the Dodge Ram in 1981
Iacocca’s next triumph came in 1983 when
he helped create the modern minivan by
introducing the Plymouth Voyager and the
Dodge Caravan
he had also become the face of the
company after appearing in a number of
ads where he promoted Chrysler’s
american-made cars in 1987 Chrysler took
over the Jeep brand when they bought the
American Motors Corporation the company
also acquired Italian automaker
Lamborghini that year although it was
sold in 1994 it was around this time the
Chrysler partnered with Mitsubishi to
create Diamond star Motors while the
Japanese automaker bought out Chrysler
stake in 91 diamond star did help
Chrysler move into the subcompact market
with Iacocca’s turnaround of the company
complete he retired in 1992 in 98
Chrysler merged with Daimler Benz to
form diamond
the company struggled for a few years
and was even forced to shut down the
Plymouth brand by 2001 things were
improving on the strength of models like
the Dodge Magnum however that turnaround
was short-lived and by 2007 Chrysler was
sold to private equity firm Cerebrus
Capital Management things continued to
spiral downward by the end of 2008 the
US government was forced again to loan
funds to Chrysler to keep the company
afloat Chrysler filed for chapter 11
bankruptcy protection in April the next
year
shortly after Italian automaker Fiat
took over a significant
take in the company a sales increase
followed and Chrysler’s lineup went
through a complete overhaul leading up
to 2012 with this initiative in mind
Chrysler lived up to its reputation as a
pillar of the automotive industry
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