After the 1998 merger with Germany's Daimler-Benz AG, Chrysler went through a round of plant closings and job cuts. Now Chrysler, whose parent company is DaimlerChrysler AG (DCX), said it will cut U.S. vehicle production by 15 percent, according to this WashingtonPost.com article.
They are following the path that General Motors Corporation (GM) and Ford Motor Co. (F) have already taken with plans to close plants and eliminate jobs. U.S. automakers are blaming their woes on higher gas prices, which has curtailed the demand for pickup trucks and sport-utility vehicles.
While Chrysler seems to be cutting back another automaker under the DaimlerChrysler umbrella has opened a new manufacturing facility in Beijing, China, where production of Mercedes-Benz and the Chrysler 300C will begin.
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