Chrysler Chrysler could kill Viper brand altogether within a year

[PanterroR]

Chrysler confirmed in March that it had received three offers for its Dodge Viper sports car business, and that it was currently doing due diligence ahead of making a final decision. The ailing Detroit carmaker did not reveal who made the offers, nor the likely time that a decision would be made, but the company’s vice-president Jim Press said it likely won’t come until after the viability presentation planned for the U.S. Treasury later this month.

Previously, Chrysler CEO Bob Nardelli confirmed that the sale had gathered interest from both international and North American parties but wasn’t willing to reveal any names. Some of the firms rumored to be interested in the sale include specialty performance shops Saleen and Roush, which have the capacity to accommodate the Viper’s handmade production process. But new details unearthed in Chrysler's bankruptcy documents indicate the Viper brand could disappear altogether within a year.

The planned sale of Viper may not happen at all. Some of the assets of the current Chrysler operation could be 'left behind' in the portion of the company that is to be effectively eliminated - i.e. not brought forward into the 'new' Chrysler-Fiat pairing. Viper could be one of those assets, according to a document found by Edmunds. Chrysler representative Todd Goyer also told them in an email, "As previously indicated, Chrysler LLC is evaluating strategic alternatives for the Viper business including the potential sale of the Viper nameplate, Conner Avenue Assembly Plant, and/or associated tooling and resources. During this process Chrysler has been approached by a number of parties interested in purchasing the business.

"Chrysler continues to evaluate these proposals in an effort to maximize the value of the Viper business. No timeline has been established in connection with this process, and Chrysler will not comment on the nature of ongoing discussions or negotiations or confirm the identity of any of the interested parties."

When the only option on the table was a sale, auto industry analyst Dave Cole explained that the Viper business is relatively inexpensive and could help emerging foreign companies, especially from India, China and Russia, create a halo car that would draw interest to their other offerings. "A lot of people can afford it - somebody who has a lot of money that wants to create a halo for themselves," Cole explained to Automotive News. That still makes a lot of sense, and provides hope that Viper may yet survive to see further production.

Nardelli has also previously stated that Chrysler will act in the best interests of the Viper's supporters and fans, who understandably would want to see the brand spared from being axed altogether. But at the same time, Chrysler will do what it must to get out of bankruptcy and back into operation.

The sale, if it goes forward, would mark the end of a 17-year run of the Viper at Chrysler, with the first model having debuted in the 1992 model year. The company just produced its 25,000th Viper in March of this year, and celebrated the event with festivities that included the launch of the track-focused Viper SRT10 ACR.


Source: Chrysler could kill Viper brand altogether within a year - [2009 Dodge Viper SRT10] - MotorAuthority - Car news, reviews, spy shots

 

[CarGuy]

Viper brand never drew serious offers, even at $10 million asking price

2009 SRT10 likely to be the last Viper built by Chrysler, possibly the last ever.

Chrysler confirmed in March that it had received three offers for its Dodge Viper sports car business, and that it was currently doing due diligence ahead of making a final decision, but documents unearthed in the company's bankruptcy filing reveal that no 'serious offers' were ever really tendered. Even at a bargain-basement price of $10 million for the 392,000 square foot Viper plant, there were no takers.

The ailing Detroit carmaker did not reveal who made the supposed offers at the time, nor the likely time that a decision would be made, but Chrysler vice-president Jim Press said any sale would be delayed by the then-ongoing viability plan submission to the U.S. Congress. Since then, no further headway has been made on the sale, according to Chrysler's court documents, reports Automotive News.

"We received no purchaser interest," said CEO Bob Nardelli. "The market for such assets is extremely depressed at this time." The best offer was a $5.5 million low-ball from Devon Motor Works, which sought to purchase the entire Viper brand, lease the Conner Avenue Viper plant for a year and take on none of the brand's debts or liabilities.

Previously, Chrysler CEO Bob Nardelli confirmed that the sale had gathered interest from both international and North American parties but wasn’t willing to reveal any names. Some of the firms that were rumored to be interested in the sale included specialty performance shops Saleen and Roush, which would have had the capacity to accommodate the Viper’s handmade production process.

Other details unearthed in Chrysler's bankruptcy documents indicate the Viper brand could disappear altogether within a year. The planned sale of Viper will likely not happen at all, especially with the lack of interest and any ability to get a fair price for it.

Some of the assets of the current Chrysler operation could be 'left behind' in the portion of the company that is to be effectively eliminated - i.e. not brought forward into the 'new' Chrysler-Fiat pairing. Viper could be one of those assets, left behind and liquidated with all the rest of the dross.

Nardelli has previously stated that Chrysler will act in the best interests of the Viper's supporters and fans, who understandably would want to see the brand spared from being axed altogether. But at the same time, Chrysler will do what it must to get out of bankruptcy and back into operation.

The brand's sale, or death, would mark the end of a 17-year run of the Viper at Chrysler, with the first model having debuted in the 1992 model year. The company just produced its 25,000th Viper in March of this year, and celebrated the event with festivities that included the launch of the track-focused Viper SRT10 ACR.

Source: here