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 |  Aug 21 2009, 1:13 PM

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Chrysler’s deputy CEO Jim Press is planning to quit his post before the year’s end, reports the Wall Street Journal.

Press took the helm of Chrysler in 2007 when Cerberus Capital Management took a controlling share in the company. He moved to the position after a lengthy 37-year career at Toyota Motor Corp.

When Chrysler emerged from Bankruptcy in June under new ownership by Fiat, Pres was made deputy CEO under the leadership of Fiat boss Sergio Marchionne. Under the old Chrysler System, Press worked alongside former Chairman Robert Nardelli and vice-chair Tom LaSorda. But when Chrysler filed for bankruptcy LaSorda announced his retirement. Then upon emerging from bankruptcy under the ownership of Fiat, Nardelli also stepped down.

Neither Press nor Chrysler have made any official announcements regarding Press’s decision to leave.

[Source: Automotive News]

Financial Crisis Not All Bad: Chrysler to Can PT Cruiser

Model is 7th Chrysler product to disappear since 2007

 |  Jan 15 2009, 11:27 AM

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Despite the fact that the last news article regarding the PT Cruiser on Chrysler media site is titled “PT Cruiser Continues to Shine in 2009,” Chrysler president Tom LaSorda has announced that in an effort to save money the company will cease production of the retro van, car, truck, thing. The news comes after a record low sales year for the PT, which suffered a 49 percent drop in sales in 2008.

While the PT Cruiser certainly had its group of dedicated fans, AutoGuide wasn’t one of them – nor we beleive was anyone who loved cars or had a sence of aesthetic decency.

The PT Cruiser is the seventh model to be dropped from the Chrysler lineup since Cerberus Capital Management LP bought Chrysler in 2007. The other models that have recently met their demise are the Dodge Magnum, Dodge Durango,  Chrysler Crossfire, Chrysler PT Cruiser Convertible, Chrysler Aspen and Chrysler Pacifica.

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Once production of the PT Cruiser ceases at the Toluca, Mexico plant this summer the only vehicles to wear the Chrysler badge will be the Town & Country minivan and Sebring and 300C sedans. (We’d wager the Sebring is about to join the history books too).

[Source: Bloomberg]