This is refreshing news since the rumor mill has been churning out stories of how Chrysler is "considering a Jeep brand selloff"
Responding to word that Chrysler may begin selling off assets and brands soon, Chrysler Vice Chairman and President Tom LaSorda admitted that while the automaker is keen to consider parting with "non-earning assets" or assets that "may be coming due,'" Chrysler "...will not separate the brands from the company." That means that among other things, the struggling automaker may sell tooling for previous-generation vehicles or those on the way out, but it will not part with plants or nameplates.
In a post on Chrysler's Firehouse media blog, LaSorda is quoted as saying "What was reported that we're in discussions to sell the Jeep brand is absolutely false... we will not separate the brands from the company." In particular, Jeep has been the subject of sale rumors as of late, as most analysts figure it is the company's most valuable nameplate. According to LaSorda, the federal aid package that Chrysler recently signed on for means that no assets can be sold without the approval of the 'car czar" anyway. Click through to the jump to read Chrysler's full blog statement.
Chrysler Vice Chairman and President Tom LaSorda on Wednesday strongly denied reports and rumors that the company is in discussions to sell its Jeep brand, any manufacturing plants or the tooling for an existing vehicle.
"What was reported that we're in discussions to sell the Jeep brand is absolutely false," Lasorda told reporters on a conference call Wednesday morning.. "We will not separate the brands from the company."
He said that the company has said for more than a year that it will sell non-earning assets, or assets that "may be coming due." Chrysler has had discussions about selling the tooling of previous generation vehicles, or vehicles that are discontinued. But reports that the company would sell one of its manufacturing plants are untrue, and don't make any sense.
"If we were to sell any assets, and if you looked at the loan agreement, the loan agreement would not allow us to do that without going through the 'car czar'," he added.
LaSorda also addressed rumors regarding deals with specific companies, such as Magna International Inc. or the automotive partners Nissan and Renault.