"For nearly 75 years, the Chrysler Corporation was an independent American Automobile manufacturer since founded in 1920’s by Walter Chrysler until being absorbed by the German DaimlerChrysler AG group in 1998. Mercedes and Maybach also belong to this family. Plymouth and Dodge became Chrysler subsidiaries as Chrysler attempted to position itself in direct completion with GM. The Plymouth began production in the depression-era America and its intention was to offer similar styling at a lower cost. Dodge was in it for providing model variety. Several significant automotive innovations were possible because of the Chrysler Corporation. Aerodynamic considerations such as airflow concept were introduced into the design for the first time. This visible attributes have been passed down to more recent models like the Pacifica, Sebring and Aspen SUV. In the 1960’s, the body construction provided a more structurally sound finished product. Chrysler also prides in the invention of the mini-van, Financial struggles have been no stranger to the company. Even bailed out by the government in 1979 by $1.5 billion. Lee Iacocca provided a great revival to the point of enabling the acquisition of Jeep/Eagle courtesy of the widely lampooned but successful K-car. Daimler – Benz bought Chrysler in 1998. The merge resulted in the formation of DaimlerChrysler AG. Chrysler has since benefited from the positive influence of concept and design. In July 2007, Chrysler was bought by an American company: Cerburus Holdings. The group’s name will now be Chrysler LLC. As a testament to the quality they will be offering a lifetime powertrain warranty for all model –year vehicles 2006-2008. Although it will only apply to the first owner, it’s a great incentive for buyers to visit their dealers. Tom LaSorda was demoted from CEO to be replaced by Robert Nardelli on August 2007. NArdelli is Home Depot’s former CEO and is credited with turning Home Depot into the billion-dollar brand it is known to be nowadays. The dodge Sprinter Van will continue to be produced with the collaboration of Daimler. Same applies to some suspension components. This automaker is now free to pursue its own designs and/or collaborations with other automakers which was somewhat inexistent during the Daimler years "