February 2007
From an article in todays Telegraph Business section.
Chrysler Group could be put up for sale in a move that would reverse the discredited 1998 merger that brought together two of the most famous names in motoring: Daimler and Chrysler.
As it unveiled job cuts that went far deeper than most analysts had anticipated, parent company DaimlerChrysler said it was "looking into further strategic options" for its US division, which alongside rivals General Motors and Ford has struggled in the face of higher costs and stiffer competition from Asia.
"No option is excluded," the company said. Reports in Germany suggested that an investment bank has already been hired to explore a possible sale of the division. As part of its restructuring, Chrysler said it would shed 13,000 jobs - 16pc of its workforce - over the next two years and close factories in North America as it pushes to return to profitability by 2008.
Some 9,000 US hourly workers will lose their jobs, along with 2,000 employees in Canada and a similar number of salaried staff.
The company will take a $1.3bn hit to pay for the restructuring, which it hopes will save it $2bn a year, or $1,000 off the cost of every car sold in the US.
The plans were unveiled as the company, which is the world's fifth-largest car maker, posted a 40pc drop in fourth-quarter profits, mainly due to weaker demand for Chrysler products. Profit tumbled to $761m from $1.28bn a year ago, while Chrysler itself posted a loss of $1.5bn.
Revenue slipped to $54bn, with sales of Chrysler vehicles falling 7pc, offsetting a 5pc rise in sales of Mercedes models. The latest redundancies come five years after 26,000 jobs were axed and six plants closed.
Yesterday's job cuts will reduce by 400,000 the number of vehicles that the company can produce each year.
"A divorce on earth will follow the marriage made in heaven," one company manager said, referring to the 1998 merger that never lived up to its potential and instead often triggered tension between hostile camps of German and US managers.
At the time of the merger, the stock traded at around $100 a share. It fell back sharply and never came close to reaching those peaks again. Yesterday, the stock was up nearly 5pc to around $64.
The announcement comes a few months after its parent company insisted that Chrysler was not for sale. But pressure has increased since then. Earlier this week, a German investment fund with a 1pc stake in the company called for the merger to be unwound.
However, selling the business may be hard. Oppenheim analyst Michael Raab estimated it would cost ?26bn ($34bn) to separate the two divisions. Analysts suggested a Chinese carmaker bent on expansion would find it attractive if the price was right, while linking Chrysler up with Renault or Volkswagen could offer small-car expertise Chrysler lacks.
If the poor range sold by Chrysler UK (except 300C) is anything to go by the future is certainly not too rosy. Any one want a Chrysler...................?
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Roger
I read frequently, but only post when I have something useful to say.
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The air con compressor on my 1996 Xantia 1.9td does not run when I press the switch.
Is there a relay associated with it that can be replaced?
Are there any servicable parts on the compressor that can be tested or replaced.
Thanks
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Hi,
I am Aneesh from Portugal. I own a Citroen Xantia 1.9 TD (1994). Recently my AC compressor stopped working. I took the connectors off the pressure switch above the dryer. It had 4 contacts. With a wire I joined the middle 2 contacts and the compressor clutch worked and the compressor started working....
I wonder if any BackRoomers can help me with some FIRSTHAND advice and experience.
I've just had a phonecall from someone who is known to me who wants to sell me some 'MPG caps' that are added to your fuel tank, and which are supposed to add 10-20% to your mpg figures.
I am one of the most cynical people that you will ever find regarding such things, but a quick google around did find some people that have had very good results from using them (supposedly), but of course they could be completely bogus.
I have 7 vehicles that run on diesel (including Arnie) and a saving on my fuel bills would be very acceptable - but usually when something souunds to good to be true, it usually is.
He's offered me some tablets to try so that i can see for myself (sounds a bit drug dealerish doesn't it), but I'm not so keen to try something that may damage an engine.
I know that it is being sold on a multilevel marketing scheme, I know that there are lots of bogus things on the market, I know that you shouldn't believe everything that you are told/read on t'internet etc, etc.
but I would like to hear from anyones FIRSTHAND experience of using them.
I'm not interested in hearing about diesel magnets, oil additives, multi level marjeting scams, etc, purely anyone who has used MPG CAPS into their fuel tank.
cheers folks
MTC Read more
"and that you could buy them from www.mpgcapsfromthecat.com you would believe me ?"
Yes, I always suspected you were trying to sell them :)
( who else would have any interest?)
I found a part exchange Saab a company was selling on autotrader. i liked it and agreed to pay the window price as it was such a nice car (full leather, cd changer, low mileage, full service history etc). I asked to be checked for hire purchase on which i was approved. i was supposed to collect it this weekend if it was in an excellent condition as i was told by the sales person but I've now had a phone call to say the car has been sold to someone else.
The company isnt local to me so its not like I can go down to see them so is there anything I can do? All I have is a verbal agreement that I'm going to buy the vehicle if its in the condition I was described. i wasnt told i had to pay a deposit to hold it although they did offer to deliver it to me.
What can I do?
Thanks in advance for your help & advice.
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My BiL is a dealer;he gets any number of people who come in,kick tyres, even have a drive and say"I'll be back to-morrow with the money" and are never seen again.He's even had people pay him a deposit and not come back.
Hello,
My 1995 VW Passat estate tailgate struts are getting very weak.
Does anyone know a way of repairing them?
Or is it a replace and throw away job?
I've been quoted £46 for a pair. Is this a good price?
Thanks for your help.
- Steve. Read more
Are similarly cheap replacement struts available for a Ford Escort estate, early 90s vintage? I seem to remember a dealer quoting around £35 plus VAT.
I bet many folks heard Ms Dunwoody on the radio today saying motorists felt persecuted but really we are a privileged lot who get motoring on the cheap. Mr Brown is apparently our champion who taxes us lightly etc etc. We should use public transport more often etc etc. We should look at road pricing intelligently and stop moaning. It would be interesting to know how many roomers could get to work by public transport, I certainly couldn't and none of my colleagues could either. Read more
If I understood the answers correctly the travel included all official business, not just constituency to Westminster and return.
One who struck me was the Member for Hemel Hempstead who drove to and from his constituency "so as to be with his family in the evening", claimed IIRC well over £6k. There are trains from Euston to HH every 20 minutes, or half hourly until nearly midnight. An annual season (which his constiuents pay for out of their taxed earnings) would be around £2.5k.
I am really having trouble with this, it sometimes stops me reading part of a post, leaving a white blanked out portion of screen when it retracts, same when trying to post..
Regards Read more
Please address the matter to HJ ( letters@honestjohn.co.uk ), and he in turn will inform the advertising agency.
DD.
Hi
It seems that a knocking from my 206 may actually be coming from a shorting coil pack - Its a black plug model but can anyone confirm for me how many wired are used in this plug as i dont have a wiring diagram. The plug has 4 wires, 3 coloured and 1 black, however the black wire exits the plug for about 3 inches and thats it, it is not connected to the wiring loom at all. I have hunted around near the other cables in the bundle to see if it had snapped but there are only 2 coloured wires going into the loom.
Can anyone confirm if this black wire is indeed not needed?
thanks Read more
Difficult to be certain; probably nothing much. Only some had them.
So after much hunting by wife and daughter I got a little frustrated and took daughter to look (again) at Mitsubishi Colt and we were offered what I think is a pretty good deal on a 1.1 (3cyl) CZ1 5dr with a/c for £7500. Daughter liked it and wanted to buy it so we went ahead.
Trouble is, turns out my wife had decided (but not told us) that she thought Yaris T3 would be a better bet. The unknown nature of the Colt (there really aren?t many around here) plus the Yaris T3?s nine! airbags were significant factors in her mind. OK, you?re looking at more like 10 grand than seven and a half (which is significant to my daughter but neither here nor there in my wife?s mind) but I?m now having restless (I don?t do sleepless) nights wondering if I?ve let my daughter do the wrong thing?
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Routine servicing of most volume cars (and I would include BMW's etc in that) tends to be fairly reasonably priced because the manufacturers know that people compare service costs when buying a car. The issue I was talking about was really **non-routine** servicing - i.e. what is it costing you to fix when the warranty runs out.
I service a few older Mitsubishis and whilst they are reliable, the cost of parts can be astonishingly high. For example we wanted a door card for a Galant and it was over £600; air filter about £40, fuel filter likewise. The idle stepper motors are regular failure points on most Mitsi's and they are priced at over £400 in the UK - I actually bought one from a New Zealand dealer and including air shipping it was not much more than £100.
Some other brands are also incredibly expensive. Chrysler, for example, are not as reliable as Mitsubishi (most are complete sheds in fact) despite being financially related to Mitsi. Would you believe that I had to replace a pair of rubber CV gaiters and they were £120 the pair!! Front hub bearing over £300 and headlamps for an old Jeep were something like £350 each (I managed to source s/hand). A just-out-of-warranty low-mileage Voyager auto has been bought to me this week stuck in second gear. Nothing I could do so told the lady owner (4 kids) to take it to my mate who rebuilds autos - looking at a £2500 repair....Oh dear.
My 2000X 2 litre petrol 406 GLX estate (106000 miles) jumps out of reverse if you are anything less than gentle and you're not going uphill. To re-select reverse you have to put it in 1st gear then come back to reverse otherwise it won't engage. The linkage at the gearbox end doesn't appear to be loose or worn. Peugeot service man claims not to have encountered it before. It's an ex-lease car and up to 87k miles would probably not have done a lot of reversing. Any ideas? Read more
I'll have a look. It doesn't appear to "snick" right in, but I don't recall an event that might have displaced the engine/box. Thanks.
Browse
There you go - 2 seperate posts and both contain hugely contrasting information.
(for the record, I think that rjr is right)
MTC