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Junkyard Gem: 2001 Plymouth Neon

Chrysler's Plymouth brand was created in 1928 (and named after a brand of twine favored by farmers), in order to compete against Ford and Chevrolet for entry-level car shoppers. Plymouth stayed in third place in the US-market new-car sales hit parade for most of the years through the early 1950s and remained a strong (if gradually shrinking) player for decades after that. By the 1990s, though, it was tough to distinguish Plymouths from Dodges and DaimlerChrysler announced in late 1999 that the Plymouth Division would be getting the axe. 2001 was the last model year for Plymouth, with just one kind of vehicle sold for that year: the Neon. Today's Junkyard Gem is one of those final Plymouths, found in a Denver self-service yard recently. In the years just before the DaimlerChrysler "merger of equals," Chrysler had attempted to make the Plymouth brand more interesting. An updated version of the old Plymouth ship emblem was created, a Plymouth-badged car on the Chrysler LH platform was planned, the PT Cruiser was going to be a Plymouth, and then there was the Prowler crypto-hot-rod. Those dreams of a revived Plymouth bit the dust once Herr Schrempp took over. The Prowler and Voyager became Chryslers, while the PT Cruiser never had even a single year of Plymouth badging. The only 2001 car sold as a Plymouth was the humble Neon. Since the very beginning of Neon production as a 1995 model, there never had been much difference between the Neons with Dodge badges and the ones with Plymouth badges, continuing the tradition of the Dodge/Plymouth Colt and Dodge Omni/Plymouth Horizon. Earlier generations of Plymouths (e.g., the Valiant) had been mechanically identical to their Dodge-badged siblings, but at least they looked different and had smaller price tags. In 2001, the MSRP of a base Dodge Neon was $12,715, or about $22,156 in 2023 dollars. The price of the base 2001 Plymouth Neon? $12,715. At least the Plymouth Division got two model years in which to sell the second-generation version of the Neon. The engine is the SOHC version of Chrysler's 2.0-liter straight-four, rated at 132 horsepower and 130 pound-feet. Sorry, 2001 Plymouth shoppers, your Neons didn't get the 150-horse version that Dodge Neon R/T and ACR models received that year. This car has some extra-cost goodies. There's this three-speed automatic transmission, which had a $600 cost ($1,036 in today's money). It has the $1,000 air conditioning option as well ($1,742 now).

Ford and Chrysler reducing summer plant shutdowns

Most domestic automaker assembly plants traditionally take a couple of weeks off during the summer. The shutdowns give each plant time for much needed repairs and maintenance, and in some cases, help better align production with demand. Not this year, though, as demand for many models is outstripping what Ford, Chrysler and General Motors plants can produce.
Ford has announced that it will shorten its annual summer shutdown for most North American plants from two weeks to one. The shorter shutdown will increase the carmaker's annual North American production by 40,000 units on top of the 200,000 extra units that it was already planning to produce this year versus last. Automotive News reports that Ford produced 2.8 million vehicles on this continent in 2012, and that output this year has already increased 13 percent through April.
Chrysler, meanwhile, is also operating at full tilt and plans to run some plants through the summer with no shutdown at all. Those not getting a break include Jefferson North where the Jeep Grand Cherokee and Dodge Durango are assembled, Toledo North that will assemble the new Cherokee, and Conner Avenue, home of SRT Viper production. Other assembly plants will be down for a single week, while all of Chrysler's engine and transmission plants except one in Indiana will continue operating with no shutdown this summer.

Fiat and UAW back at negotiating table over Chrysler stake

We knew there'd be no Chrysler IPO before the end of this year, but Fiat is determined to get the best run going into 2014 and is back at the poker table with the UAW. The delay was said to be Chrysler's desire to clean up a tax issue with the IRS; turns out that also bought the carmaker time to try and close a deal for the UAW's 48.5-percent stake in the company before the IPO happens.
Whereas the price Chrysler was willing to pay was once more than $1 billion under the UAW's asking price, the gap has closed to just $800 million of late. A recent valuation of the company at $10 billion - a valuation the UAW has disputed - means Fiat would be looking to pay about $4.2 billion instead of the $5 billion that the UAW seeks. But the UAW needs to hold out for the highest amount it can get because its pension obligations through the Voluntary Employee Benefit Association (VEBA) are $3.1 billion greater than the VEBA's assets, which include the Chrysler stake.
There's a clause in the agreement that Fiat can buy the VEBA shares for $6 billion, but Fiat CEO Sergio Marchionne has said that the UAW "should buy a ticket for the lottery" if they even want $5 billion. The UAW, though, has more time to wait; it's Fiat that wants access to Chrysler's $11.9-billion war chest and that would like to avoid the risk of paying the full $6 billion for the UAW share if the float really takes off. With other valuations of Chrysler as high as $19 billion, a hot IPO could make that $6 billion look like a bargain.