DETROIT: US automaking giant Chrysler Group, which ended its troubled union with Mercedes-Benz last year, is once again in the market for new – but not all-consuming – alliances.
Chairman/president Tom LaSorda said the company, acquired by private equity firm Cerberus for $7.4 billion (€4.96bn; £3.95bn) last May, was in talks with automakers in Russia, China and India and has also been approached by Italy's Fiat, which is seeking a plant in the US.
LaSorda told the Center for Automotive Research conference that such partnerships would help Chrysler expand globally and survive an expected consolidation of the industry.
He added: "Partner early and partner often, because more strategic alliances and joint ventures are on the way. And the best time to partner with a company entering your market is before they enter."
Chrysler's car and truck sales dropped 29% in July, compared with the same month last year.
Data sourced from Wall Street Journal Online; additional content by WARC staff