So Chrysler had been owned, for a while, by Daimler/Benz, which is all well and good. Daimler gave up on them and sold most of their stake off to the Cerberus group. And then yesterday it got announced everywhere that there were talks of a merger between GM and Chrysler. But as it turns out, Cerberus isn’t really after a merger… they want to buy GMAC, the financing wing of GM, and merge it with the Chrysler financing group.
Wait, what? The media, the auto blogging scene, all of them, have been all over how this would just result in bad cars being produced, but apparently everyone has been barking up the wrong tree.
Autoblog, who is more knowledgeable about these things than I am, seems to think that a manufacturing merger is still in the works. And it seems to make sense: of all of aspects of the Automotive industry you wouldn’t want to get into right now, financing would probably be #1 on most people’s minds.
I’m not sure what to think. I think I’ll still be sad over GM probably swallowing Chrysler. We’ll see what tomorrow brings though.