Chrysler

Chrysler is one of the "Big Three" automobile manufacturers in the United States, headquartered in Auburn Hills, Michigan. The original Chrysler Corporation was founded in 1925 by Walter Chrysler from the remains of the Maxwell Motor Company. In 1998, it was acquired by Daimler-Benz, and the holding company was renamed DaimlerChrysler. After Daimler divested Chrysler in 2007, the company existed as Chrysler LLC and Chrysler Group LLC before merging in 2014 with Italian holding company Fiat S.p.A. and becoming a subsidiary of its successor Fiat Chrysler Automobiles. In addition to the Chrysler brand, FCA sells vehicles worldwide under the Dodge, Jeep, and Ram nameplates. Furthermore, the subsidiary includes Mopar, its automotive parts and accessories division, and SRT, its performance automobile division.

After founding the company, Walter Chrysler used the General Motors brand diversification and hierarchy strategy that he had seen working for Buick, and acquired Fargo Trucks and Dodge Brothers, and created the Plymouth and DeSoto brands in 1928. Facing postwar declines in market share, productivity, and profitability, as GM and Ford were growing, Chrysler borrowed $250 million in 1954 from Prudential Insurance to pay for expansion and updated car designs.

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