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When did Chrysler buy Mercedes-Benz?
My buddy told me that Chrysler and Mercedes-Benz were part of the same company. Did I miss something? When did Chrysler buy Mercedes?
Macy Fouse · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
The history of car manufacturers and their parent companies can get complicated fast—and
Chrysler
has one of the more tumultuous histories of them all. While Chrysler didn’t technically buy Mercedes-Benz, the company was acquired by Mercedes’ parent company Daimler-Benz in 1998 as part of a $36 billion dollar merger. Spoiler alert: it didn’t end well. The goal was to create a new empire with Chrysler being the more practical option and
Mercedes-Benz
being the company’s luxury brand à la Toyota and Lexus. The two companies weren’t a good match, though, and due to a serious lack of cooperation (and failed market forecasting), 2006 saw the downfall of Chrysler. After cutting 26,000 jobs and posting a loss of $1.5 billion, Chrysler models still weren’t selling well, leading to Daimler selling Chrysler to Cerberus Capital Management for 7.4 billion dollars in 2007. After a few economic crises and bankruptcies, Chrysler joined forces with
Fiat
in 2014, creating Fiat Chrysler Automobiles. View full answer
- Gregory R.
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