Chrysler wants $10 million for the Viper business, no buyers so far – rpmGo.com

Chrysler’s Viper business isn’t among the assets to be sold to the new company, led by Fiat, so the Detroit company is desperately trying to get rid of Viper, but it looks like no one wants to buy it, though initially there were rumors of a few potential buyers for the brand. Viper has been for sale since August but nobody wants it, which is kind of suprising, considering what an iconic brand Viper is. However, it seems that business is business and nobody wants to risk losing a lot of money, more exactly $10 million, because that’s how much Chrysler wants for the plant that makes Vipers.

“There is the objector’s mistaken notion that it would be a simple matter for us to sell off select product lines, such as Jeep, that might allow a recovery above $2 billion,” Chrysler’s CEO Bob Nardelli said. “The market for such assets is extremely depressed at this time.”

Still, according to a bankcruptcy filing, Chrysler did receive a $5.5 million offer to buy the Viper business and lease the Detroit plant for a year from Devon Motor Works and Chrysler is currently trying to check if they have access to financing for the project. According to another bankruptcy filing, the business generated earnings before taxes, interest, depreciation and amortization of $16 million in 2008.

[Source: Detroit Free Press]

Post tags: Tags: Chrysler, dodge-viper, viper