By: Motoring Staff
Detroit - This year celebrates the 90th anniversary of Chrysler, an American brand that has survived near-bankruptcy to become the world’s seventh-largest automaker.
Founded in 1925 by Walter P. Chrysler and headquartered in Auburn Hills, Michigan, Chrysler is one of the “big three” American brands and became a subsidiary of Fiat in 2014 after emerging from the automotive industry crisis of 2008-2010.
Now known as Fiat Chrysler Automobiles, the company’s brands include Chrysler, Fiat, Jeep, Dodge, and Ram, with Mopar its automotive parts and accessories division and SRT its performance vehicle division.
In the USA, Chrysler was renowned for its flair for innovation, and it pioneered among others four-wheel hydraulic brakes, the downdraught carburettor, flexible engine mountings and an aerodynamic body in mass-produced cars.
Here are some of the milestones in the company’s nine-decade history:
1925– Chrysler Corporation is founded by Walter Chrysler out of what remained of the Maxwell Motor Company.
1928– Acquires the Fargo truck company and the Dodge Brothers Company and begins selling vehicles under those brands; that same year it also establishes the Plymouth and DeSoto automobile brands.
1957– Chrysler announces the first production electronic fuel injection (EFI) system as an option on some of its new car models, replacing carburettors.
1960– The Valiant is introduced as a distinct brand.
1966– The Dodge Charger mid-sized car is introduced, later spawning a fire-breathing 330km/h Daytona version for Nascar racing.
1970s– After expanding into Europe a decade earlier, a number of factors including the 1973 oil crisis impact Chrysler’s sales and, on the verge of bankruptcy, forces its retreat from Europe in 1979.
1980s– Lee Iacocca is brought in as CEO and returns the company to profitability.
1983– Chrysler is one of the pioneers of the MPV segment when it launches the innovative Dodge Caravan, later to become the Chrysler Voyager. Voyager has sold more than 13 million units to date.
1987– Chrysler acquires American Motors Corporation (AMC), bringing the Jeep brand under the Chrysler umbrella. That same year it also buys Lamborghini, the financially troubled Italian sportscar maker.
1991– Production of the Dodge Viper sportscar begins. It’s powered by a Lamborghini-designed V10 engine.
1994– Chrysler sells Lamborghini to a group of Indonesian investors.
1998– Chrysler merges with German automaker Daimler-Benz AG to form DaimlerChrysler, a union that lasts until 2007. The technology-sharing spawns cars such as the Chrysler 300C which is based on the Mercedes E-Class.
2000– Chrysler launches the PT Cruiser, a retro-styled family hatch which goes on to sell over 1.3 million units worldwide.
2008-2011– Like the other big three American automobile manufacturers, Chrysler is hit hard by the automotive industry crisis and is bailed out by taxpayer money.
By 2011 the company repays its loan to the US government five years early.
2014– Chrysler becomes a subsidiary of Fiat and Fiat Chrysler Automobiles is born.
Star Motoring