Sunday, February 18, 2007
Chrysler's New Owners: Korean or Chinese?
Looks like Dr. Z knows when to hold em, and when to fold em. That's what Daimler Benz is getting ready to do with its Chrysler subsidiary. Germany's automotive powerhouse has confirmed the sale, saying that "...all options are being considered." According to the financial press, it's all over but the bidding. So just who is stepping up? Korea's Hyundai Kia Automotive Group for one. And the People's Republic of China's Chery and SAIC are also in the race, accoring to London's Sunday Times. General Motors would dearly like to acquire its long-time North American rival, it makes sense on a lot of logistic and resource-sharing levels, but the company's own financial realities will likely preclude that outcome. Old paradigms are definitely fracturing. The automotive industry is not alone in that regard. So get ready for your "Chery Charger."