| This contest is fueled by the following news: |
| | Executive board of directors of German auto giant Diamler decided to
approve a sale of US-based Chrysler to a private investment firm
Cerberus Capital Management. In the 1990s Diamler and Chrysler merged
to create the biggest international automaker. However, as years went
by Chrysler appeared to be more of a burden to this business
partnership. The primary cars made by this American car manufacturer
are heavy models like SUVs, sedans and trucks, which suffered a
gradual sales loss mostly affected by their heavy consumption of fuel,
as gas prices have been climbing over the years. The announcement of
selling the company comes after Diamler announced that thirteen
thousand jobs will be cut from Chrysler division. Primary cars of
Diamler, on the other hand, Mercedes-Benz have seen a modest increase
in sales and profits, while Chrysler has been losing money for months. |
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