The Chrysler Group LLC is a Michigan based American car manufacturer. Apart from Chrysler-branded vehicles, the Group also sells cars with the Dodge, Jeep and Ram labels.< /br>History of Chrysler< /br> Chrysler was created in 1925 by Walter Chrysler. Chryslers were initially six-cylinder vehicles, however in 1926 a four-cylinder model became available as well. The latter was somewhat cheaper than its six-cylinder brother. From the start, Chrysler has been known for the application of innovative techniques in its vehicles. Car parts that were newly included were the air filter, the oil filter, four-wheel hydraulic brakes or ridge rimmed wheels for example. < /br> In 1928 the company bought the Fargo Truck Company which lead to a considerable expansion and the acquisition of the Dodge Brothers Automobile and Truck Company. Chrysler itself developed by the division of its offer by price classes. The expansion and innovation trends continued to the 1950s and ‘60s. By the beginning of the 1970s however, and from 1973 in particular, the Chrysler Group encountered rather serious difficulties. Among other factors, the 1973 oil crisis played caused a considerable drop in sales leading to the company’s near-bankruptcy. A new CEO was employed to return Chrysler to being a profitable company. Despite successfully fulfilling his mission, this was not the last time Chrysler suffered the consequences from among other factors, global economic tendencies. The 2008-2010 crisis in the automotive industry particularly caused financial difficulties for Chrysler. As opposed to the 1970s however, Chrysler did file for bankruptcy this time around though. By the end of the bankruptcy procedure, Chrysler was taken over by The United Auto Workers pension fund, the American and Canadian governments and the Fiat group. Over the following years Fiat acquired a majority share making the Italian corporation in fact the owner of Chrysler today.
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