Oct 13th, 2008 by RJ Menezes
In what could be the most important news in the automotive world this year, word out of Detroit is that General Motors and Chrysler LLC are in talks about the possibility of a merger of the two companies. The news was first reported by AutomotiveNews.com but now it’s starting to circulate the web.
Though little is known about the actual business end of this supposed deal, people close to the source have stated that the folks at the GM board have given the offer a cold reception. Apparently, they seem to think it would do more harm than good. Chrysler’s stock has been tanking as of late, and GM has it’s own problems to take car of before it can have the problems of Chrysler dumped on their laps.
Still, mum is the word so far from both camps. “Without referencing this specific rumor, as we’ve often said, GM officials regularly have conversations with other automakers about items of mutual benefit,” said GM spokesman Tony Cervone. He later declined further comment on the matter.
With no one really certain where the automotive market is going, this could be big news. We will keep you updated as soon as any tangible information comes in, so keep checking back here at PriceWheels.com for the latest on this subject.
-Source: Automotive News
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