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Chrysler May Sell Viper Car Business, Hires Lazard

Discussion in 'General Discussion' started by SRT8U, Aug 27, 2008.

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  1. Aug 27, 2008 #1
    SRT8U

    SRT8U Supporting Vendor

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    Chrysler May Sell Viper Car Business, Hires Lazard

    By Mike Ramsey
    Aug. 27 (Bloomberg) -- Chrysler LLC, selling assets to raise cash as U.S. sales slide, said it's considering the possible sale of its Viper sports-car business.

    ``We have been approached by third parties who are interested in exploring future possibilities'' for the 600- horsepower, 10-cylinder car, Chief Executive Officer Bob Nardelli said today in a statement, without elaborating. The Auburn Hills, Michigan-based company hired Lazard Ltd. as financial adviser in the review of options for the business.
    ``My bet will be they will definitely be able to unload it,'' for a price of ``maybe $100 million,'' said James Gillette, an automotive consultant at CSM Worldwide Inc. in Grand Rapids, Michigan, who does asset valuations for customers.

    Selling the Viper might help the third-largest U.S. automaker raise cash to help ride out a 23 percent decline in U.S. sales this year through July. The closely held company sold $647 million in assets this year through May 28, according to a June presentation by owner Cerberus Capital Management LP.

    Chrysler's announcement comes as it rebuilds sales of the low-volume sport car, which is its most expensive vehicle, with prices starting at $88,125, and is hand-built at a Detroit plant slated to close by mid-2011. U.S. sales of the Viper more than doubled to 682 this year through July, already exceeding the 435 sold in all of 2007. Annual sales reached 2,103 in 2003.

    The Viper began as a 1992 model and was considered the creation of Chrysler's then-president, Robert Lutz, who is now vice chairman of General Motors Corp.
    Possible Buyers

    Custom-vehicle builders such as Panoz Auto Development Co. or Shelby Automobiles Inc. would be logical buyers, Gillette said. Such builders would be able to continue the car for many years, he said.

    Chrysler is expected to use up $2.5 billion in cash during 2008, a person familiar with the company's finances said in May. The automaker said it had $11.7 billion in cash and marketable securities at the end of June.

    Former partner Daimler AG said yesterday that it assumed Chrysler's interest in a Chinese joint venture with Beijing Automotive Industry Holding Co. without revealing the terms. Daimler in May also agreed to purchase Chrysler's former California design studio. In March, Italian automaker Fiat SpA agreed to buy a Chrysler engine plant in Brazil.
     
  2. Aug 27, 2008 #2
    Tooloe

    Tooloe Hate Me

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    Geat theres gonna be hondas and shit with a viper motor now:censored:
     
  3. Aug 27, 2008 #3
    SRT8

    SRT8 MoPower

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    WOW! That makes me sick. I hope they figure something out.
     
  4. Aug 27, 2008 #4
    Cheatek

    Cheatek SRT once, SRT always

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    Cerberus at it again, they make me sick. They won't be happy till they bleed ChryCo of every last red cent they can get their hands on. Come back Daimler, come back.
     
  5. Aug 27, 2008 #5
    loxmith

    loxmith Recovering Post Whore...

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    :censored:!
     
  6. Aug 27, 2008 #6
    StevoSRT

    StevoSRT Moderator

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    if a reasonable company buys the viper who will at least keep the spirit of hte viper in tact....fine....at least the viper lives

    this is why im glad i have my SRT...cause given enough time at this rate....Dodge/Jeep/Chrysler will be nothing but a pile of crap on wheels if that....
     
  7. Aug 27, 2008 #7
    ALABAMA MSRT8

    ALABAMA MSRT8 Full Access Member

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    i wish i could ''SLAP'' those bastards that are running chrysler.you dont here about ''GM'' kiling the corvette do you.
     
  8. Aug 27, 2008 #8
    Cheatek

    Cheatek SRT once, SRT always

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    Yea but it won't be a DODGE Viper anymore. Friggin Cerberus!!!!! :chair:
     
  9. Aug 27, 2008 #9
    loxmith

    loxmith Recovering Post Whore...

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    Yeah...or Ford killing the Mustang.


    Double yeah...WTH will be the flagship of Dodge without the Viper? I'd be willing to bet, if the Viper goes away, the SRT line will too...
     
  10. Aug 27, 2008 #10
    Cheatek

    Cheatek SRT once, SRT always

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    Although GM did kill the Camaro for a while, least they realized the error of thier ways and is bringing it back better than ever.

    Let's see, flagship for Dodge, good question. Caravan prolly, maybe the Nitro ... hahahhahahhahaaa ... actually it's more :cry:
     
  11. Aug 27, 2008 #11
    DragginWagon

    DragginWagon Full Access Member

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    Well if they keep selling everything off there won't be anything left! WTH are they having a yardsale?!?!?!?! Why the hell did they even hire that moron from home depot anyways??!?!?
     
  12. Aug 28, 2008 #12
    SRT8

    SRT8 MoPower

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  13. Aug 28, 2008 #13
    loxmith

    loxmith Recovering Post Whore...

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  14. Aug 28, 2008 #14
    Cheatek

    Cheatek SRT once, SRT always

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    If there ever was a car that needed paddle shifters it's that Viper, the last thing you want to do is take a hand off that wheel! Yikes! And wow!! That guy did one hell of a job drivin that beast.

    So that's the fastest car ever to run the Ring and yet Cerberus wants to dump the Viper, idiots.
     
  15. Aug 28, 2008 #15
    ALABAMA MSRT8

    ALABAMA MSRT8 Full Access Member

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    dumb ass driver cant shift worth a damn.any way,take that nissan and chevy.mopar all day and every day.
     
  16. Aug 28, 2008 #16
    Tooloe

    Tooloe Hate Me

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    Or Worse CHEVY BUYS THE Viper!....or toyota or something like that:dumb::dumb::dumb::hypno::hypno::wallbash::wallbash::furious::furious:
     
  17. Aug 28, 2008 #17
    TheSickness

    TheSickness 1/2 Man 1/2 Amazing !

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    They already sold the building in New York city....Does not surprise me at all :ronlove:
     
  18. Aug 28, 2008 #18
    Cheatek

    Cheatek SRT once, SRT always

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    Watching this video again I realized something scary ... it coulda been faster! It ran what 722 beating the Vettes 726, well there was room for improvement in that run and it could/should have been even faster. In the driving department the guy could have done better but more importantly if that Viper had paddle shifters he most certainly would have picked up 1 or 2 more seconds, the guy misses a few shifts, rides the rev limiter a couple times and l seems to lose his concentration every time he takes his right hand off the steering wheel to shift. I bet it could run 720 flat and that's truly awesome. Stupid Cerberus.
     
  19. Aug 29, 2008 #19
    StevoSRT

    StevoSRT Moderator

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    well doucheschnozzle...if you read what i said..i said..if an ACCEPTABLE company were to buy it i'd be ok...like Saleen or Shelby....someone who could do it justice
     
  20. Aug 29, 2008 #20
    Goats

    Goats God of skittles

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    they wont cause there both ford nuts
     
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