In honor of Walter P. Chrysler, Rochester Hills Chrysler Jeep Dodge would like to discuss his great importance in auto history. Walter P. Chrysler, born in Wamego, Kansas is the Founder of Chrysler Corporation. Born on April 2, 1875, Chrysler lived till 1940, passing away at age 65.
Chrysler began his career as a machinist and a railroad mechanic. His automotive career did not begin until 1911, when he met with an executive at General Motors. Chrysler worked at GM as a work manager and later became the president of Buick. At this time, Chrysler was making a yearly salary of $10,000 (equal to $165,000 today). This large salary was almost unheard of. He also received $500,000 bonus at the end of each year.
For several years, Chrysler successfully ran Buick. He eventually left not agreeing with the vision of General Motors future. Chrysler started at Buick in 1911 working for $6,000 a year. When he left, Chrysler was considered one of the wealthiest men in America.
Walter Chrysler founded the Chrysler Corporation in 1925 and in 1928 acquired Dodge. Around this time, the Chrysler Building was built in New York and Walter Chrysler was named Time Magazine’s 1928 Man of the Year. By 1936 Chrysler was retired and let others run his corporation.
Though Walter Chrysler no longer ran the Chrysler Corporation, the success of the company did not stop here. In 1987 Chrysler Corporation obtained Jeep and in 2007, Chrysler was sold to Cerberus Capital Management and renamed Chrysler LLC. Hit hard by the auto crisis of 2008, Chrysler LLC was forced to file bankruptcy and received billions in loans from the USA government. In 2009, Chrysler emerged from the bankruptcy with Fiats help. Fiat has gradually acquired ownership of Chrysler LLC and is now the majority owner.
Chrysler is back on its feet and remains one of the top auto companies today. Some of the current Chrysler LLC popular vehicles include the Jeep Grand Cherokee, Chrysler 200, Dodge Dart and Ram 1500. To learn more about these vehicles visit Rochester Hills Chrysler Jeep Dodge in Rochester Hills, MI or call (888) 435-3039.