1924: Walter Chrysler, former president of Buick® Motor Co. and former vice president of General Motors®, launched the Chrysler Six B-70. With six-cylinders, this was an affordable luxury car that could reach the unheard of speed of 70 mph.
1925: Chrysler founded the Chrysler Corp., absorbing the assets of the Maxwell Motor Corp.
1928: Chrysler rolled out the low-priced Plymouth® and medium-priced DeSoto brands, which have conventional body styles. Even though the Depression, both brands became popular with the public.
1934: The company introduced the Chrysler Airflow, which featured a streamlined, aerodynamic body. However, it didn’t go over well with the public, and the reception was said to stifle innovation at Chrysler from that point on.
1940s: Chrysler joined the war effort and produced items for the U.S. military such as tanks and trucks, guns and ammunition, and aircraft parts. The “Jeep” came about in response to a military request for a “light reconnaissance vehicle.” Chrysler acquired the Jeep trademark when it bought AMC in 1987.
1960s: Chrysler expanded into the European automobile market.
1970s: Chrysler decided to invest heavily in full-sized cars, which turned out to be a bad idea. Because of the oil embargo of 1973, there were gasoline shortages in the United States. As a result, consumers turned to smaller, more fuel-efficient vehicles. Between 1973 and 1974, Chrysler’s auto production dropped by a whopping by 26%.
1979: CEO Lee Iacocca initiated a government bailout of Chrysler Corp., which was nearly bankrupt.
1980: Congress passed, and President Jimmy Carter signed, a loan guarantee act for Chrysler. Because of this, the government essentially acted as a co-signer of a $1.5 billion loan for the company. It worked, as the next few years saw Chrysler reporting record profits.
1983: Chrysler paid off its federally guaranteed loans seven years early. They would also introduces minivans, the Plymouth Voyager and Dodge Caravan, which created a new market niche.
1996: Chrysler’s share of the combined U.S. and Canada retail car and truck market reaches 16.2 percent — its highest point since 1957 — due in large part to the company’s highly profitable lineup of minivans and Jeeps,
1998: In a $36 billion takeover deal, Chrysler Corp. merges with German automaker Daimler-Benz to become DaimlerChrysler AG.
2001: Due to massive losses, shrinking markets, and stiff competition, DaimlerChrysler cut 26,000 jobs and idled six plants.
2005: A few years later they would bounce back, with the Chrysler Group earning $2 billion in profit. Sales were boosted by the stylish Chrysler 300 sedan, the Dodge Magnum wagon featuring rear-wheel drive, and the Dodge Ram pickup.
2006: Chrysler Group didn’t have a great year and reported a net loss of $1.5 billion.
February 2007: Chrysler cut 13,000 jobs under a new restructuring plan, which was essentially 16 percent of its workforce.
May 14, 2007: The private equity firm Cerberus Capital Management took over 80 percent of Chrysler for $7.4 billion.
2009: The company is forced into federal bankruptcy protection.
2011: Chrysler posts its first quarterly profit since 2006 and pays back $7.6 billion in loans from the American and Canadian governments.
2012: The partnership between Chrysler and Fiat flourishes, and together they produce new vehicles that combines the talents of both corporations.
2014: Fiat takes over ownership of Chrysler in a $4.4 billion deal with the United Automobile Workers retiree health care fund. The adopt the formal name, Fiat Chrysler Automobiles, and a new logo.