| In Germany: Volkswagen, Europe's largest automaker | | | | investment bank J.P. Morgan Chase & Co., are working |
| and maker of renowned auto products like | | | | together to explore the possibility of a profitable sale. |
| Volkswagen spark plugs was not spared from the | | | | According to recent news from Financial Times |
| Chrysler selling issue which forces Europe's largest | | | | newspaper there are at least four private-equity |
| carmaker to release an official statement saying that | | | | groups that have expressed their interest in purchasing |
| they are not interested in purchasing the money-losing | | | | Chrysler and even had preliminary talks with |
| Chrysler from DaimlerChrysler. | | | | DaimlerChrysler. The said four companies are as |
| According to Christine Ritz, spokeswoman for | | | | follows: Apollo Management, the Blackstone Group, |
| Wolfsburg-based Volkswagen AG, that the Europe's | | | | Cerberus Capital Management, and the Carlyle Group |
| largest automaker is not interested in purchasing the | | | | plus some other European private-equity groups. |
| US unit of the world's fifth largest automaker if it is | | | | It should be noted that the Chrysler Group until a year |
| really up for sale. Volkswagen is not the only | | | | ago has kept DaimlerChrysler profitable amidst the |
| automaker that has expressed its non-interest on | | | | quality issues at the Mercedes Car Group. The only |
| Chrysler even Renault-Nissan auto alliance and | | | | seen problem for the Chrysler Group was its failure to |
| Hyundai Motor Corporation has stated that they are | | | | discern its American consumers' changing tastes for |
| not interested in buying Chrysler. | | | | more fuel-efficient models instead of light trucks. This |
| DaimlerChrysler AG has released an official statement | | | | has brought losses to the German-American |
| last week saying that they have laid all options for its | | | | automaker which resulted to their cutting of almost |
| US division on the table but they will not conduct a | | | | 13,000 jobs in the US and Canada. The said figure |
| traditional bidding procedure. However they will offer | | | | represents about 16 percent of its work force. The |
| detailed financial information about Chrysler only to | | | | German-Automaker has also closed down a plant in |
| selective buyers. The automaker together with its | | | | Delaware in an effort to save more costs. |