Chrysler LLC is an American automobile manufacturer that has been producing automobiles since 1925 and from 1914 under the Dodge name. 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. Chrysler LLC is the new name. "blank">Cerberus Takes Majority Interest in Chrysler Group and Related Financial Services Business for EUR 5.5 Billion ($7.4 billion) from DaimlerChrysler." Official DaimlerChrysler press release. May 14 2007. The deal was finalized on August 3, 2007.
After the announcement of the spin-off to Cerberus, the Chrysler LLC, or "The New Chrysler", unveiled a new company logo on August 6 2007 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. Chrysler is now the largest private automaker in North America.
