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DaimlerChrysler Merger
History of Chrysler Corporation
Walter Chrysler is the owner of Chrysler Corporation. He had a vision to take more than one company and put them together under his name. Since an early age, he became captivated with automobiles. In 1912, he accepted an offer to become a production manager at Buick Motor, which within 4 years he became the president of Buick Motors. Then Chrysler moved to Maxwell Motor Company and revealed a new car in 1924. Maxwell name was changed to Chrysler in 1925, when Walter bought the company. Chrysler purchase Dodge Brothers Inc. in 1928, which was a bigger company than Chrysler. The brothers died and then their company was sold. Walter saw that as a big opportunity because Dodge was a well established company and had a reputation for dependability. In 1942, Chrysler had to produce more vehicles for war, so they opened a new plant, which was developed in less than a year to help meet the demands of war.
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In 1979, the fuel and gas prices raised, the demand was for fuel-efficient cars, and so Chrysler came up with a new line of cars, which were low-mileage cars. Chrysler faced some issues at this year were they faced bankruptcy. Many people sacrificed to save Chrysler through these hard years and with a loan from the feral band they survived.
In late 1990s, Chrysler operated in two principal industry segments, which are the automotive operations and the financial services. The financial services were about providing the financial help for consumers and the automotive operations were about producing and designing the vehicles. However, Chrysler highly focused on the trucks and minivans product lines at that time. Which made the minivans one of the most successful