In 1998 when German industrial giant Daimler-Benz AG merged with American automobile manufacturer Chrysler Corporation DaimlerChrysler came into existence. DaimlerChrysler not only in the industry of automobiles and trucks but are also producers of aircraft and aircraft engines, satellites and space systems, guided missiles and weapons systems, trains, electronics, and home appliances. But its core business is the production of cars, cars like the German luxury automobiles – the Mercedes-Benz line, as well as vehicles under the American brand names of Chrysler, Dodge, Plymouth, Eagle, and Jeep. Daimler

One the biggest problem Chrysler had was its misjudgment of consumer tastes and needs.

Daimler hired as his chief engineer Ferdinand Porsche, who would produce many influential design innovations. When Daimler merged with Benz in 1926, the Mercedes-Benz line of automobiles was born. Until World War II (1939-1945), when the state took over the German auto industry, the company’s progress drastically diminished. Daimler-Benz became a part of the German was effort, producing trucks, tanks, and aircraft engines. The war destroyed 70% of its production capacity. In 1950s the company was again able to regain its status and started to rebuild itself. It was the largest automaker outside

Chrysler maintains headquarters in Stuttgart, Germany, the original home of Daimler-Benz, and in Auburn Hills, Michigan, the original headquarters of Chrysler.

History Of Chrysler: In 1920s Walter P. Chrysler, resigned as an executive at General Motors Corporation because of differences with the company’s president, William C Durant. After restoring Willy’s-Overland to financial health in 1920, Chrysler joined the struggling Maxwell Motor Corporation. In 1924, with the help of three engineers he designed the Chrysler Six automobile, which was big success with 32,000 sold in its first year. Maxwell Motor became the Chrysler Corporation in 1925, with Chrysler as president. In 1928 Chrysler acquired Dodge Brothers Motor Car Co. The acquisition significantly increased Chrysler’s size and allowed it to spend $75 million to build its own manufacturing plants. In 1933 Chrysler surpassed Ford in sales for the first time. Walter Chrysler retired from the company in 1935 and died in 1940.

By December 2000 just two years after the merger a collapsing DaimlerChrysler stock had a market value of only $39 billion.

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