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Chrysler LLC is an American automobile manufacturer that has manufactured automobiles since 1925 . From 1998 to 2007 , Chrysler and its subsidiaries were part of the German based DaimlerChrysler ( now Daimler AG ) . Prior to 1998 , Chrysler Corporation traded under the " C " symbol on the NYSE . Under DaimlerChrysler , the company was named " DaimlerChrysler Motors Company LLC " , with its U . S . operations generally referred to as the " Chrysler Group " . On May 14 , 2007 DaimlerChrysler AG announced the sale of 80 . 1% of Chrysler Group to American private equity firm Cerberus Capital Management , L . P . , although Daimler continues to hold a 19 . 9% stake . This was when the company took on its current name . The deal was finalized on August 3 , 2007 . On August 6 , 2007 , after the announcement of the spin off to Cerberus , the Chrysler LLC , or " The New Chrysler " , unveiled a new company logo and launched its new website with a variation of the previously used Pentastar logo . Robert Nardelli also became Chairman and CEO of Chrysler under the ownership of Cerberus . On October 23 , 2008 , Daimler announced that its stake in Chrysler had a book value of zero dollars after write offs and charges . Amid the 2008 automobile crisis , Chrysler announced in December 2008 that it was almost out of cash , and might not survive past 2009 . After the defeat of the auto bailout in the Senate , Chrysler stated that they would most likely file for bankruptcy and shut down all operations permanently . On December 17 , 2008 , Chrysler announced that it would close all of its North American plants on December 19 for at least a month or longer . That same day , President Bush announced a $13 . 4 billion rescue loan for the American automakers , including Chrysler . ? |
