Detroit auto manufacturer Chrysler has faced its share of adversity of the past few years. The 2008 U.S. Financial Crisis wasn't kind to any of the "Big Three" automakers, but Chrysler has managed to rebound recently with the help of fantastic new models and its recent "Imported from Detroit" advertisement campaigns. Chrysler's story is really that of a comeback. For the last three decades, the Illinois-based company has faced a host of highs and lows and is now known as a company that can face and overcome all obstacles. Using hip-hop music and musicians, along with evocative images, in its new advertising campaigns, the company has managed to sell a distinctly "American" franchise.
The Chrysler company was established by Walter Chrysler in June 1925, when the Maxwell Motor Company (established in 1904) was underwent changes and was eventually "re-grouped" under the Chrysler name. The first Chrysler vehicle is credited to Mr. Chrysler himself in January 1924. It was a 6-cylinder vehicle that was constructed to provide drivers with an innovative, well-made vehicle, but at a more affordable price than might have been expected. It included several features that weren't available in most other vehicles of the time, including a high compression engine, an oil filter and air filter, and eventually, the first widely-produced 4-wheel hydraulic brakes. Chrysler also created a ridged rim wheel, designed to keep a deflated tire from easily falling (or flying) off. This wheel was ultimately implemented in the auto in the auto industry on a global level.
The company encountered various highs and lows over the next several decades. In the 1970s, Chrysler sought a Congressional bailout, but it easily paid off its loans by the 1980s with the success of several minivans and fuel-efficient K-car vehicles. In the 1980s, the company faced more financial issues due to consolidation of the American Motors company it had purchased, but by the 1990s, Chrysler was back on top again, with its Jeep lineup, and Dodge Viper sports car. In 1998, Daimler-Benz of Germany bought Chrysler, and the company stayed under Daimler-Benz rule for eight years. Financial problems ran rampant yet again, and the 2008 Financial Crisis threatened to crush the company yet again. Non-American brands such as Toyota and Kia fared better during the crisis, and were able to get much of the Chrysler brand's business. This was hard to overcome in the next two years, as the company continued to struggle.
Fortunately, Chrysler made it through the turmoil thanks to an alliance with Fiat that gives it 53 percent stake in the company. Today, Chrysler is back on top and produces several Chrysler brands, as well as Ram, Jeep, and Dodge vehicles. Some of the most popular Chrysler vehicles currently include: the 2012 Chrysler 200 Sedan, the 2012 Chrysler 300, (as well as the 2011 versions of both), the 2012 Chrysler Town & Country, and the 2012 Chrysler 200 Convertible. Chrysler now most closely competes with General Motors (which includes such brands as Cadillac, Chevrolet, and Buick), Ford, and Toyota.