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On Chrysler Group LLC - Essay Example

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The Chrysler Group Name: XXXXXXXXX Professor: XXXXXXXX Institution: XXXXXXXX Course: XXXXXXXX Date: XXXXXXX One of the most diverse areas of business is the automotive industry. This is important, as people require traveling from one place to another whether they are going to their work places or vacations…
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Essay on Chrysler Group LLC
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On Chrysler Group LLC

Download file to see previous pages... Formed in 2009, the group has been able to develop very many makes of vehicles that have been a major hit in the automotive industry (Breer, 2009. 34). These cars include the jeep, Fiat, the Dodge. However, among all the vehicles produced by the company, the Chrysler is the most reputable. The Chrysler from its initial years back was at a competitive level with other decent makes of cars from rival companies. The companies include General Motors known for its elegant Cadillac that has been able to survive market limitations and still performing well. The other rival company was Ford Motor Company (Rall, 2011). At that time, the company was known for its car, the Lincoln. Ever since the beginning of the competition, the companies have worked hard to outdo each other in the market. However, the Chrysler has always managed to come up on top. Witnessed from the 2009 season when the economy was trending down, the car was able to sustain its sales levels while Ford and General Motors decreased their performance at a 4.5 and 3 percent margin. On November 4, 2009, the Chrysler group set out a road map or rather a plan that would ensure that the Chrysler increased its sales in the industry by a possible triple. The company had planned to achieve a break-even result for the Chrysler by the end of the financial year 2010. The company had also decided to attain a $1 billion net profit for the Chrysler. The company decided to do this by diversification of its markets. The plan has been on the right track. This is from the results from the financial year ending 2011. The general net income of the company was 212 million dollars for the third quarter of the year. Of the total amount that the company makes in a specified amount of time, the Chrysler contributes up to 65% of the income. Thus, from their financial report produced around January of 2012 showed that the Chrysler made 138 million dollars in sales (Walter, 2011). Further scrutiny of the reports shows that the company had 56 million dollars in net loss by the end of the financial period. The net revenue obtained from the car was $7.5 billion that is an 18%raise from the third financial period of the previous years. One of the implementation plans for the optimization of market capitalization is ensuring that the car has a fast running engine. The company has ensured that it has replaced the V-6 engine with the V-6 Punster gas engine. The engine known to have optimal performance and increases the speed of the car by a very high margin while still maintaining or rather reducing the consumption of gas as compared to the original V-6 engine. The fact that the company has been able to change the engine and the capacity of fuel consumption has been integral in the positive turn over noted at the end of 2011. With the changes in the various aspects of the car, there have been complements that have led to the car having much more acclamation in the market. The customers who used to have the older make of the V-6 engine have streamed into the companies garages all over the country for an engine change. The company on the other hand has shown gratitude to its customers by ensuring that they change the engines at a discount price. However, having the broader view, the commission earned from the changes in engine is very important as when combined it leads to a noticeable increase for money that the company h ...Download file to see next pagesRead More
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