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Chrysler Corporation
Chrysler Corporation, one of the largest automobile and truck manufacturers in the country, entered a financial crisis in the late 1980's, early 1990's. In May, 1998, company reports indicated that the company only sold 17,713 vehicles outside of the United States, due to powerful competitors. Therefore, due to the company's lack of competitive drive globally, the company sought out sources to merge with "the largest industrial company in Germany, Daimler-Benz; this merger became known as Daimler Chrysler (Daimler-Chrysler, 2006).
Daimler Chrysler, a major automobile and truck manufacturer and financial services provider; is headquartered in two different locations: Michigan (USA), and Wurttemberg (Germany).
On May 7, 1998, the company was formed by the merger of Chrysler Corporation and Daimler-Benz; the former CEO and president, Dieter Zetsche of Chrysler and Mercedes, was awarded the chairman of Daimler Chrysler in 2006. The emergence of Daimler-Benz and Chrysler Corporation formed the production of both companies cars and trucks such as: Jeep, Mercedes-Benz, Smart, Maybach, and Dodge. As such, in 2004, the Daimler Chrysler has begun folding Mercedes and Chrysler brand parts operations worldwide into a single operation" (Daimler-Chrysler, 2006).
The outcome of Daimler Chrysler was a major success in the industry of truck and car manufacturers, reaching sales of $141 billion dollars, which produced 4.5 billion dollars in profits for the company. The number of jobs for United States and Canadian auto workers i ...