Chrysler may sell Viper unit!
08-27-2008, 05:46 PM
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Chrysler may sell Viper unit!
Wednesday, August 27, 2008
Chrysler may sell Viper unit
David Shepardson / Detroit News Washington Bureau
Chrysler LLC said today it was considering a sale of its Dodge Viper business and has hired financial consultant Lazard to advise it.
The possible sale of the iconic two-seat 600-horsepower sports car follows the announcement earlier this year by General Motors Corp. that it was considering a sale of its Hummer brand.
"We have been approached by third parties who are interested in exploring future possibilities for Viper," said Bob Nardelli, Chrysler's chairman and CEO, saying the company is focusing on enhancing its core business and leveraging its assets. "We have agreed to listen to these parties. We will do so keeping in mind the best interests of those who have shown tremendous support for the vehicle -- including employees, suppliers, dealers and a worldwide group of loyal Viper owners and enthusiasts."
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Chrysler's sales of the Viper are up 111 percent through July to 682 vehicles over 323 vehicles in the first seven months of 2007 -- but it is a tiny fraction of the company's total sales. A company spokesman noted Chrysler had sold more than 150,000 Dodge Ram pickups during the same period.
"Viper is an integral part of this Company's heritage. While this is a strategic review, our intent would be to offer strong operational and financial support during any potential transaction, in order to ensure a future for the Viper business and perpetuate the legacy of this great vehicle," Nardelli said.
The V-10 Viper is hand-built in a low-volume, modular process at the Conner Avenue Assembly Plant in Detroit. The vehicle was introduced as a concept vehicle at the 1989 Detroit auto show. It was first available as a production vehicle in the 1992 model year. Chrysler sold its 25,000th Viper in March -- an SRT10 presented by Nardelli to NASCAR driver Kurt Busch at the plant.
The Dodge Viper gets 16 miles to the gallon has a zero-to-60 time of 3.5 seconds.
Chrysler may sell Viper unit
David Shepardson / Detroit News Washington Bureau
Chrysler LLC said today it was considering a sale of its Dodge Viper business and has hired financial consultant Lazard to advise it.
The possible sale of the iconic two-seat 600-horsepower sports car follows the announcement earlier this year by General Motors Corp. that it was considering a sale of its Hummer brand.
"We have been approached by third parties who are interested in exploring future possibilities for Viper," said Bob Nardelli, Chrysler's chairman and CEO, saying the company is focusing on enhancing its core business and leveraging its assets. "We have agreed to listen to these parties. We will do so keeping in mind the best interests of those who have shown tremendous support for the vehicle -- including employees, suppliers, dealers and a worldwide group of loyal Viper owners and enthusiasts."
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Chrysler's sales of the Viper are up 111 percent through July to 682 vehicles over 323 vehicles in the first seven months of 2007 -- but it is a tiny fraction of the company's total sales. A company spokesman noted Chrysler had sold more than 150,000 Dodge Ram pickups during the same period.
"Viper is an integral part of this Company's heritage. While this is a strategic review, our intent would be to offer strong operational and financial support during any potential transaction, in order to ensure a future for the Viper business and perpetuate the legacy of this great vehicle," Nardelli said.
The V-10 Viper is hand-built in a low-volume, modular process at the Conner Avenue Assembly Plant in Detroit. The vehicle was introduced as a concept vehicle at the 1989 Detroit auto show. It was first available as a production vehicle in the 1992 model year. Chrysler sold its 25,000th Viper in March -- an SRT10 presented by Nardelli to NASCAR driver Kurt Busch at the plant.
The Dodge Viper gets 16 miles to the gallon has a zero-to-60 time of 3.5 seconds.
