Chrysler is an automobile brand with a long history in the United States. Today, the brand is owned by the Stellantis company, based in the Netherlands.
The original Chrysler company was highly successful from the early through the mid-1900’s. However, its fortunes later declined. Chrysler vehicles have included such models as the New Yorker, Pacifica, PT Cruiser, Sebring, Town & Country, Valiant, and Voyager.
The American automaker Walter P. Chrysler formed the Chrysler Corporation in June 1925. By the end of 1927, its affordable, dependable cars made the young corporation the fourth largest automaker in the country. In 1928, Chrysler bought the automaker Dodge Brothers, Inc., and created two new lines of cars, DeSoto and Plymouth. The Chrysler Corporation rapidly took its place alongside Ford and General Motors as one of the “Big Three” U.S. automakers. In 1938, Chrysler surpassed Ford to become the second largest automaker in the United States.
During World War II (1939-1945), the U.S. government halted automobile production to focus on wartime needs. From early 1942 to August 1945, Chrysler factories turned out ammunition, guns, field kitchens, and medical equipment. Field kitchens consist of mobile equipment to provide meals for military personnel. The factories also produced ambulances, trucks, the famous Sherman tank, and the B-26 Marauder and B-29 Superfortress bombers. After the war, Chrysler continued to make products for the U.S. government and military, including the Saturn rockets that took astronauts to the moon.
The Chrysler Town & Country was a popular station wagon from 1946 to 1989. Plymouth produced the popular Valiant from 1960 to 1976. Sportier models, such as the Barracuda, Challenger, and Charger, also sold well. New pollution standards and fuel crises in the 1970’s turned the auto industry toward smaller, more fuel-efficient models. Most Chrysler vehicles were large and provided poor gas mileage. As a result, the corporation saw a rapid decline in sales. Also in the 1970’s, the company experienced failure in the European market and disastrous recalls of faulty cars. In 1980, the U.S. government responded to Chrysler’s pleas for financial assistance to avoid bankruptcy by guaranteeing $1.5 billion in private loans to the company.
Chrysler sales declined again in the 1990’s. In 1998, the German automaker Daimler-Benz purchased Chrysler, forming DaimlerChrysler, also known as the Chrysler Group LLC. In 2007, a private investment firm called Cerberus Capital Management bought Chrysler. Despite a second U.S. government bailout in late 2008, Chrysler filed for bankruptcy in April 2009. The automaker was reorganized and formed a partnership with the Italian automaker Fiat. In 2014, Chrysler and Fiat merged to form Fiat Chrysler Automobiles. In 2021, Fiat Chrysler Automobiles merged with Groupe PSA to form a new company, Stellantis, which acquired the Chrysler brand.
