Chrysler has been purchased by Cerberus Capital Management for $7.4 billion. No word yet on whether Jeep was included in the deal, but my guess is that it is.
[Update] Thanks to Jake in the comments below, it has been confirmed that Jeep is included in the deal. So, one has to wonder what this means for the Jeep brand. My guess is that things will stay mostly the same, but you never know.
Here’s confirmation straight from the horse’s mouth:
Chrysler Holding LLC will hold 100% each of the future Chrysler Corporation LLC, which produces and sells Chrysler, Dodge and Jeep® vehicles, and the future Chrysler Financial Services LLC, which provides financial services for these vehicles in the NAFTA region.
What’s crazy is that Daimler is actually paying $655 million to get rid of Chrysler and, in addition, giving Chrysler a $400 million loan. All the purchase price is supposedly going as a capital infusion to Chrysler, with Daimler getting nada.