Chrysler again runs low on financial fuel

Article Abstract:

Chrysler Group CEO Dieter Zetsche said the automaker plans to layoff 18,400 workers in the US and 7,600 others elsewhere as part of efforts to rehabilitate the company. Zetsche added the layoffs are an absolute necessity for Chrysler's continued survival in the intensely competitive US auto market. Other measures being proposed to put Chrysler back into profitability include deferment of bonuses until 2002; elimination of one whole shift in three factories in the US and two others in Canada; and permanent plant closures in other countries.

Strategy & planning, Daimler AG

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Safety group desperately seeking Cruiser to crash

Article Abstract:

There is an acute scarcity of Chrysler PT Cruisers that even the National Highway Traffic Safety Administration (NHTSA) was only able to get one. The NHTSA even promised to pay $20,125 more besides the Cruisers' retail price, which it will use for crash tests. The agency was forced to test the new models due to their immense popularity and consumer calls to the NHTSA. It will use the lone Cruiser for the front-crash test but the side- crash test will have to wait until the NHTSA acquires a unit with side air bags.

DaimlerChrysler AG

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GM to stop production of slow-selling Riviera

Article Abstract:

Buick, the General Motors division that makes the Riviera line of luxury sports coupes, will cease making the $33,000-vehicles by Nov. 25, 1998, a move that was prompted by the continuing yearly decline in the sale of the car. The company, which named the car in honor of the 1963 Buick Riviera, will finish with 200 units of the model that will be called Silver Arrow Rivieras. Buick, which said that the last units are potential collector items, is expected to reuse the Riviera name for future models of its cars.

Comment:

Will cease making the Riviera line of luxury sports coupes by 11/25/98

Hardtops, General Motors Corp. Buick Div., Coupes (Automotive), Article

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