2003 Chrysler Town And Country Limited Van on 2040-cars

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Revisiting the 2008-09 auto bailout that saved GM and Chrysler

The Federal Reserve stayed open late on December 31, 2008. There's almost no way you could remember that because barely anyone knew at the time. But General Motors had to pay its bills, and the Fed wired money so GM could still buy things in January. Without those funds, the nation's largest automaker wouldn't have seen much of 2009. It's one of many heart-stopping moments that illustrate just how close Detroit's Big Three came to extinction nearly a decade ago. They're chronicled in a new movie, Live Another Day, premiering in theaters September 16. Filmmakers Bill Burke and Didier Pietri interviewed nearly all of the key executives, federal officials, and union chiefs to recreate the auto industry's most perilous period. The movie begins in the aftermath of Lehman Brothers' demise amid the global financial meltdown. Things looked bleak for American carmakers, and their CEOs were laughed off Capitol Hill when they sought a Wall Street-style bailout. "It was a feeling that it was the end of the world," Pietri told Autoblog in an interview where he and Burke previewed the film. Saved by last-minute loans authorized by the Bush Administration after Congress refused to act, Detroit staggered into 2009 with a faint pulse. Live Another Day illustrates the downward spiral that played out that winter as President Obama and his task force – with little prior knowledge of the auto industry – wrestled over the fate of hundreds of thousands of jobs. GM's longtime CEO Rick Wagoner was fired in March. Fiat CEO Sergio Marchionne suddenly appeared as a savior for Chrysler, with his own motives. Obama rejected restructuring plans from the automakers. Chrysler declared bankruptcy on April 30. GM followed June 1. The sequence was very public, but Pietri and Burke showcase lesser-known events that shaped the outcome. They also seek to dispel the notion that the government rescued GM and Chrysler from incompetent leaders. "We never subscribed to the theories that the management structures of the companies were a bunch of idiots who didn't know what is going on," Pietri said. At one point, Chrysler executives were negotiating with Marchionne and Fiat. Unbeknownst to them, the government was having its own talks with the Italian automaker. The filmmakers also cast light on the bankruptcy process, which was shredded to shepherd two of America's industrial icons through reorganizations.

Chrysler and Fiat are not going away, though the strategy is shifting

BALOCCO, Italy — At FCA's five-year plan extravaganza last week, most of the news was focused on just four brands — Jeep, Ram, Maserati and Alfa Romeo. In fact, Chrysler, Fiat and Dodge weren't even on the day's agenda. That led to some speculation that Chrysler might finally get the axe. Well, rumors of the brand's demise have been greatly exaggerated. In addition to an updated deal with Waymo, FCA CEO Sergio Marchionne expanded on future plans for Chrysler and Fiat during a Q&A session with investors and journalists. Marchionne said that Chrysler, Dodge and Fiat make up only 20 percent of global sales. While that means Jeep, Ram, Maserati and Alfa Romeo make up the bulk of FCA's profits (and most of that comes from Jeep and Ram). Currently, the Chrysler and Fiat brands just aren't important or valuable enough to warrant their own press conferences, but that doesn't mean things are doom and gloom. Marchionne said that both brands still have a future in FCA's portfolio. For Chrysler, that means more vans and possibly crossovers, and only in the North American market. The Pacifica and Pacifica Hybrid are doing well enough, so those will continue. Look for a crossover or two to come sometime down the line. Every Chrysler going forward will focus on utility and that's bad news for 300 enthusiasts: Marchionne said flat out that the Chrysler lineup won't contain any cars. Expect hybrid, plug-in hybrid and battery-electric versions of each new model. FCA plans to have an electrified version of every global model by 2022. Details were less clear for Fiat's future, though it won't be going away. The only new model that was announced was a new version of the all-electric Fiat 500e, a car Marchionne famously encouraged customers not to buy as the company lost $14,000 on each one sold. For North America, Fiat will focus on "green cars," though what exactly that means is unclear. Expect a refreshed version of the 500X in the next couple of years. Related Video: Image Credit: Reuters Earnings/Financials Green Chrysler Fiat Crossover Minivan/Van chrysler pacifica fiat 500e

Junkyard Gem: 1987 Chrysler Conquest TSi

If you feel like stumping your friends with a very trivial car-trivia question, try this one: What car model was sold in the United States with badging from Plymouth, Dodge, and Chrysler? They'll tell you it's the Neon, which was badged as a Chrysler outside of the USA, and you'll point out the "in the United States" qualification and feel smug in your superior automotive knowledge. The correct answer is, of course, the Conquest, which was a rebadged Mitsubishi Starion. Here's a Chrysler Conquest TSi, found in a Denver-area self-service wrecking yard. The TSi was the factory-hot-rod version of the Conquest, with intercooling for its 2.6-liter Mitsubishi Astron four-cylinder engine and 176 horsepower— pretty serious for 1987. For 1984 through 1986, the Conquest could be had with either Dodge or Plymouth branding; the 1987-1989 Conquests are all Chryslers. This one is rough, though the odometer shows that it never even reached 150,000 miles. Here's a Grateful Dead sticker, presumably bought on Shakedown Street at some point before Jerry Garcia's death in 1995. TURBO was a powerful word during the 1980s, so much so that the Starion/Conquest came with seat belts emblazoned with the sacred word. I still see the occasional Starion or Conquest during my junkyard travels, but the Chrysler Conquest is the rarest version these days. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.