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Chrysler

Created in 1925, Chrysler Corporation was founded by Walter P. Chrysler. They soon became known for modern ideas and engineering. In 1928, Chrysler Corporation expanded with the purchase of Dodge and the creation of the DeSoto and Plymouth divisions.

In the 1930s, Chrysler was well ahead of its time when they began to design with aero dynamics in mind. This new innovation didn’t go well with the public and was scaled back. They also began to manufacture the famous ‘Hemi’ engines in the 50s, this was immensely popular and was fitted to racers and roadster alike.

In the 60s, Chrysler began trimming of profit loosing sister brands, they also began to manufacture cars with performance in mind. They enjoyed success with NASCAR, and from this success at the track, sales increased. They also introduced the new unibody construction to their cars. They were the first of the big three car companies to do this at the time. Alternators also replaced generators in their cars, showing their commitment to advance with the times.

At the same time, however, dark clouds were gathering. As with other domestic automakers, the 1970s proved to be a difficult decade for Chrysler due to the oil crisis, new government regulations and changing consumer tastes. The company’s overseas program had failed and they needed 1.5 billion from the government to stay afloat.

Thanks to impressive public campaigning by then-chairman Lee Iacocca, the debut of the well-received K-car platform and the creation of the modern minivan, sales had improved dramatically by the mid-'80s. They also bough other motor divisions to add to their now increasing success. It was clear that Chrysler had gotten lucky.

In 1998, German-based Daimler-Benz merged with Chrysler to form DaimlerChrysler. When Daimler became more dominant, Chrysler seemed to be keeping the pair back. Because of Chryslers fuel inefficiency, their sales decreased as oil prices increased. The company's financial situation never stabilized, and Daimler sold Chrysler for a loss to a private equity group in 2007.